Retail news

• Boohoo was already a governance mess. Enter Mike Ashley for extra complexity

  24-10-2024 19:43
  
  Frasers wants its founder to be boss of the ailing fashion retailer. But Ashley isn’t ruling out being a bidder himself in any potential break-upWho would be the better chief executive of a severely ailing online retailer? Candidate A isn’t everyone’s cup of tea but he does tend to deliver the goods: his 73%-owned retail business has defied doubters for a couple of decades, has adapted to the digital age and sits in the FTSE 100 index sporting a market value of £4.6bn.Or
  
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• Secondhand Prada and cooking lessons? John Lewis gambles £800m on store makeovers

  24-10-2024 19:15
  
  The retailer plans a dramatic rethink of the chain, to include spas, boutiques and talks by authors, after deciding ‘shops are here to stay’Body piercing, cooking lessons Jamie Oliver-style, luxury hi-tech skin treatments and preloved Prada handbags … This is John Lewis, but not as you know it, with a £6.5m revamp of its high-profile branch on London’s Oxford Street signalling its belief that department stores have a future.After a hiatus when it sought to move awa
  
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• Kering and Hermès tell tale of luxury inequality

  24-10-2024 18:52
  
  While the owner of Gucci and YSL brands is spluttering, Hermès has defied the slowdown
  
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• The Body Shop to relocate head office to Brighton in ‘significant cultural reset’

  24-10-2024 16:28 via retailgazette.co.uk
  
  The Body Shop is relocating its head office to Brighton, which it said marks a “significant cultural reset” for the business under new ownership.
  Most recently, head office functions have operated out of two separate locations in Littlehampton, West Sussex, and London, but will be combined under one roof for the first time in decades.
  The ethical beauty retailer opened its first store in Brighton back in 1976 and since then has scaled to over 1,900 stores, in over 75 countries.
  The n
  
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• Shoplifting offences in England and Wales at highest level on record, ONS figures show

  24-10-2024 15:51
  
  Total of 469,788 offences logged in the year to June 2024 as retailers warn about violent attacks on shop workersShoplifting offences reported by police in England and Wales have risen to a fresh 20-year high, according to official figures, as retailers continue to warn about violence against shop workers.A total of 469,788 offences were logged by police forces in the year to June 2024, a 29% increase compared with the 365,173 recorded in the previous 12-month period. Continue reading...
  
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• Hobbs owner Foschini in talks to buy White Stuff

  24-10-2024 15:41 via retailgazette.co.uk
  
  The owner of Hobbs and Whistles is in advanced talks to acquire White Stuff.
  The Foschini Group (TFG) is nearing a deal to snap up the fashion high street chain and invest in its expansion plans, Sky News reported.
  Sources said an agreement could be make within days. Related StoryHobbs owner TFG to open largest multi-brand flagship at Liverpool One15/10/2024 x 8:08 AMThe price for White Stuff is unclear and currently under discussion, but analyst’s estimate it is within the region of &poun
  
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• Vinted closes secondary share sale as it eyes expansion beyond clothes

  24-10-2024 14:38 via retailgazette.co.uk
  
  Vinted has closed a secondary share sale of £282.96m, led by private equity firm TPG as it plans to expand beyond clothes into electronics, books, toys and video games.
  The online marketplace said the share sale, which sits at a valuation of £4.16bn, validated its “opportunity and progress in developing and growing the second-hand market globally”.
  It added it has “diversified its investor base with new expertise” and rewarded staff and early investors for the
  
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• In pictures: Inside John Lewis Oxford Street’s multi-million pound makeover

  24-10-2024 14:23 via retailgazette.co.uk
  
  John Lewis has unveiled its newly upgraded Oxford Street flagship following a £6.5m investment into the store.
  The department store chain has revamped its beauty hall, increasing the space by 25% to house 41 new counters and shop-in-shop concepts.
  The department is home to 175 beauty brands, including Clarins, Dior, Clinique and Charlotte Tillbury, as well as The Inkey List, Mac, Skin+Me, Nudestix, and The Ordinary.The Oxford Street flagship now includes a fragrance hall, with dedicated co
  
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• Boohoo unveils brand refresh as Mike Ashley pushes for CEO role

  24-10-2024 14:20 via retailgazette.co.uk
  
  Boohoo has refreshed its logo and branding as it hailed “an exciting new era” for the fashion label.
  The fashion retailer said the “creative redirection includes a bespoke custom designed logo and a bold visual handwriting that is new, but distinctly boohoo”.
  The primary monochrome branding will sit alongside a colour palette of blush and concrete, with “a pop of chrome that adds a younger take on the brand”.
  Alongside the new logo reveal, Boohoo has launched
  
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• Sneak peek: Inside Gymshark’s Twists ‘n’ Sets black hair salon

  24-10-2024 13:05 via retailgazette.co.uk
  
  Gymshark will be opening a new pop-up hair supply store and salon ‘Twists ‘n’ Sets’ in east London.
  The gymwear giant said the Shoreditch space, launching to celebrate Black History Month, features an “inclusive space to visit and shop, while helping remove the barriers between textured hair and fitness”.
  Twists ‘n’ Sets will be open from 25-27 October at 2 Hoxton St, London, N1 6NG.
  Partnering with Ruka Hair, attendees will have the opportunity to
  
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• Dunelm sales climb despite ‘volatile trading conditions’

  24-10-2024 09:58 via retailgazette.co.uk
  
  Dunelm saw sales nudge up during its first quarter, despite witnessing “volatile trading conditions”.
  Sales were up 3.5% to £403m for the quarter ended 28 September, which it said were driven by volume and delivered against a strong prior year comparative.
  Dunelm’s digital revenue also rose 2 percentage points as a proportion of total sales to 37%, as it continued to “improve (its) online offer.”
  The homewares brand claimed it “continued to gain market s
  
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• The Very Group hails “resilient” full year performance

  24-10-2024 09:48 via theretailbulletin.com
  
  The Very Group, the operator of online retailers Very UK and Littlewoods, has said it put in a resilient performance in the year to 29 June.... View Article
  
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• Frasers Group calls for Mike Ashley to replace Boohoo chief

  24-10-2024 09:36
  Ashley’s Frasers Group, which owns 27% of online retailer, seeks vote on overhaul to ‘set new course’ for futureBusiness live – latest updatesThe Sports Direct owner, Frasers Group, is attempting to install its founder, the retail tycoon Mike Ashley, as chief executive of Boohoo, as he accused the board of having “lost its ability to manage” the online fashion company.Frasers, which owns 27% of Boohoo, has written to the board calling for an emergency meeting
  
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• The Very Group profits jump as ‘careful cost management’ pays off

  24-10-2024 09:33 via retailgazette.co.uk
  
  The Very Group profits grew over the last financial year, despite a sales dip, as “resilient top line and careful cost management” led to its percentage of operating costs coming in at the lowest the online group has ever achieved.
  EBITDA grew 8.4% to £267.6m for the year ended 29 June, as pre-exceptional operating profit jumped 17.1% to £218.3m. Operating costs as a percentage of revenue decreased 0.8 percentage points to 23.2%.
  While UK sales for the group nudged up 0.7
  
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• Dunelm sales up 3.5% in first quarter

  24-10-2024 09:15 via theretailbulletin.com
  
  Dunelm has posted a 3.5% increase in sales to £403 million in its first quarter after growth was driven by increased volumes. The homewares retailer said... View Article
  
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• Ashley demands to be made Boohoo chief

  24-10-2024 09:07
  
  Tycoon’s Frasers Group claims fast-fashion retailer is being ‘mismanaged’ after building 27% stake
  
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• Represent to open first UK store

  24-10-2024 08:48 via theretailbulletin.com
  
  Represent will be opening its first UK store this weekend in its home city of Manchester. The news comes as the luxury menswear brand is on... View Article
  
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• Mike Ashley demands Boohoo make him CEO

  24-10-2024 08:38 via retailgazette.co.uk
  
  Mike Ashley has demanded that fashion brand Boohoo, in which he owns a 27%, appoint him as its new chief executive in an open letter to its board.
  Frasers Group, which Ashley controls, said it was requisitioning a general meeting of Boohoo to hire the retail tycoon as a director and CEO of the company, as well as Kroll Advisory managing director Mike Lennon as a director, to take effect without delay.
  It said this was a solution to what it termed a “leadership crisis” at Boohoo. Last
  
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• Mike Ashley demands Boohoo make him as new CEO

  24-10-2024 08:38 via retailgazette.co.uk
  
  Mike Ashley has demanded that fashion brand Boohoo, in which he owns a 27%, appoint him as its new chief executive in an open letter to its board.
  Frasers Group, which Ashley controls, said it was requisitioning a general meeting of Boohoo to hire the retail tycoon as a director and CEO of the company, as well as Kroll Advisory managing director Mike Lennon as a director, to take effect without delay.
  It said this was a solution to what it termed a “leadership crisis” at Boohoo. Last
  
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• The Cotswold Company to open 11th showroom

  24-10-2024 08:30 via theretailbulletin.com
  
  The Cotswold Company has announced plans to open its 11th UK showroom in Marlow. Situated in the town’s high street, the 3,500 square foot space will... View Article
  
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• Birkenstock boosts brand presence in Asia with start of direct sales in South Korea

  24-10-2024 08:10 via theretailbulletin.com
  
  Birkenstock is boosting its brand presence in Asia by taking over direct distribution in South Korea. The German footwear brand is launching its own country specific... View Article
  
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• Watch: Future Stores – the new Oxford Street store aiming to reinvent retail

  24-10-2024 07:39 via retailgazette.co.uk
  
  Future Stores, a new concept store that opens on Oxford Street next week, is looking to “reinvent” retail with a highly immersive shop.
  With a £20m investment, the store on 95 Oxford Street brings the latest cutting edge technology to a bricks-and-mortar setting and aims to make shopping a truly interactive experience.
  Future Stores founder, US-based Israeli tech entrepreneur Ariel Haroush, has big plans for the concept with a second London site under consideration, and expansi
  
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• The Conran Shop launches new concept for designers and interiors experts

  24-10-2024 07:15 via retailgazette.co.uk
  
  The Conran Shop has launched a new trade concept to provide a tailored experience for design and interior professionals in the UK.
  The trade team will be based in the luxury homeware retailer’s Sloane Square flagship and will provide consultations and support to designers, architects, stylists and dealers.
  Members of its Trade programme will also have access to exclusive previews of new collections, special event invitations and competitive discounts across The Conran Shop’s collecti
  
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• In pictures: Represent opens first UK flagship in Manchester

  24-10-2024 07:12 via retailgazette.co.uk
  Streetwear brand Represent will open the doors to its first UK store this Saturday (26 October) in its hometown of Manchester, following a period of mass growth.
  The 5,419 sq ft store on New Cathedral Street in Manchester City Centre, is the first permanent retail space for the brand in the UK, having opened a bespoke boutique store in West Hollywood, Los Angeles earlier this year.Following what it called a “year of rapid growth”, an entire floor of the store will be dedicated to Rep
  
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• Debenhams launches new own brand Runway London 1.8.1.8

  24-10-2024 07:05 via retailgazette.co.uk
  
  Debenhams has launched a new womenswear own-brand called Runway London 1.8.1.8.
  As the name suggests, the 40-piece collection is runway-inspired, featuring “unique, wearable pieces” and is available exclusively on the Debenhams website.
  The name reflects when the retailer opened its first store in 1818, and is “elevated fashion line honouring the UK’s most iconic department store”.
  The line includes clothing, accessories and footwear, and spans pussy bow blouse
  
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• Second-hand success story Vinted plans to expand beyond clothing

  24-10-2024 06:00
  
  Latest TPG-backed funding round values profitable Lithuanian start-up at €5bn
  
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• Rebel Sport the big winner as supporters pay high price for team jerseys and fan gear

  24-10-2024 03:34
  Retailer mark-up as much as 50% of cost of licensed sporting kitAustralian rugby league sees shirt sales soar in cheaper pricing trialAt up to $180 per shirt, licensed sporting jerseys have helped Rebel Sport avoid deeper financial pain in its annual results, which where described by a company executive as “disappointing” in its annual general meeting on Thursday.But an initiative by the Australian Rugby League Commission (ARLC) to undercut other sports’ official merchandise ha
  
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