Author: Sam Allcock

Revolution Beauty recently experienced substantial financial losses, marking a period of pivotal change for the company.The group’s revenue fell by 20% in the first half, leading to a pre-tax loss of £10.9m.A strategic overhaul to simplify the product range was initiated, impacting financial performance.The ‘Reigniting the Revolution’ strategy reduced brands from seven to three, affecting sales.Continued efforts are anticipated to stabilise the business with potential growth in future quarters.Revolution Beauty has reported significant financial setbacks for the first half of the fiscal year, indicative of a transformative phase within the company. Revenues were notably reduced by 20%, culminating in a…

Sir Jon Thompson is slated to become the chairman of Frasers Group, following his appointment to the board in June.An established figure, Thompson has an extensive background in public service, notably leading HMRC and the Financial Reporting Council.His potential appointment comes as he continues chairing the high-speed railway HS2, a role he has held since 2023.Thompson’s relationship with Mike Ashley and CEO Michael Murray is reportedly collaborative and effective.Final confirmation of Thompson’s appointment as chairman is still pending, as reported by Sky News.Sir Jon Thompson is set to elevate his role within Frasers Group, potentially taking on the position of…

The leadership at Saint Laurent and Balenciaga is undergoing significant changes, marking a pivotal moment in the luxury fashion industry.Cédric Charbit is set to return to Saint Laurent as CEO after eight years at Balenciaga.Charbit previously served at Saint Laurent as executive vice-president of product and marketing.Gianfranco Gianangeli will take over as CEO of Balenciaga, coming from Maison Margiela.Kering has reported a financial decline amid these leadership shifts.In a major reshuffle, Cédric Charbit is poised to return as CEO of Saint Laurent, a position he had held in another capacity as executive vice-president of product and marketing from 2011 to…

Asos has announced a significant pay rise for CEO José Antonio Ramos Calamonte, attributing it to enhanced profitability under his leadership, even as the company faced substantial losses.The CEO’s total remuneration increased by 44% to £1.17 million, despite Asos reporting operating losses of £331.9 million in the past financial year.Asos’s annual report reveals a reduction in full-year revenue by 18% to £2.9 billion, impacted by competitive market conditions and reduced consumer demand.An Asos representative stated that employee remuneration adheres to industry benchmarks and aligns with strategically important goals, despite tough market conditions.The decision to award a pay rise stands in…

Australian retailer Harvey Norman has opened its first store in England at the Merry Hill Shopping Centre, Dudley.The chain, with over 300 outlets globally, is introducing its concept of combining electricals, furniture, and homeware in the UK.Harvey Norman’s strategic location choice in the West Midlands capitalises on logistical advantages and a diverse population.The store offers products from major brands like Samsung, Apple, and Miele, without focusing on own-brand goods.With plans for further expansion, Harvey Norman aims to enhance its presence in the UK market.Harvey Norman, the renowned Australian retail chain, has inaugurated its first English store within the Merry Hill…

Asos CEO José Antonio Ramos Calamonte received a significant 43% pay rise this year.The salary increase occurred despite the fashion retailer’s losses expanding to nearly £380 million.In the last fiscal year, Calamonte earned £1.17 million, including bonuses, up from £814,858 in 2023.The company’s pre-tax losses grew from £296.7 million to £379.3 million due to an 18% drop in sales.Despite financial challenges, Asos is optimistic about profit improvements due to strategic changes.Asos chief executive, José Antonio Ramos Calamonte, experienced a notable 43% increase in his remuneration, raising his total earnings to £1.17 million for the year ending 1 September. This increment…

Morrisons has successfully reduced its debt by a significant £2.4 billion after a comprehensive restructuring effort since its acquisition by Clayton, Dubilier & Rice.The supermarket’s debt has decreased by nearly 40%, with total liabilities falling from £6.2 billion to £3.8 billion.This financial restructuring involved extending its loan facilities to 2030 and lowering both the cost of the debt and the overall level of debt.The company’s credit rating received a boost from Moody’s, upgrading from B2 to B1, improving the outlook from ‘negative’ to ‘stable’.Morrisons is focusing on operational improvements, investing in its workforce and services to strengthen its market position.Morrisons,…

Dune London has reopened its Westfield White City store, unveiling a new flagship concept.The renovated store spans 101 sq m and features women’s, accessories, and men’s collections.Dune plans to implement this new store concept across additional branches by 2025.Nigel Darwin, Dune Group CEO, expresses enthusiasm for the enhanced shopping experience.Located in a prime shopping destination, this store aims to attract both loyal and new customers.Dune London has officially reopened its revamped location in Westfield White City, offering an engaging shopping experience with a fresh flagship store concept. This new layout spans 101 square metres, presenting the brand’s wide range of…

Shein is setting its sights on a London Stock Exchange listing by early 2025. This strategic move hinges on regulatory approvals and signals a shift from an initial US market approach, which faced obstacles.In the early months of next year, Shein intends to go public on London’s financial market, subject to clearing regulatory requirements.The company is engaging in preparatory meetings with key investors through an official roadshow, aiming to gauge interest and address queries.Influential financial institutions, including Morgan Stanley, Goldman Sachs, and JP Morgan, are reportedly collaborating on this venture.Shein’s leadership, particularly its founder and executive chairman, are actively involved,…

Boohoo, a prominent name in fast fashion, is facing backlash for reestablishing ties with a supplier previously let go due to a modern slavery scandal.The supplier, GN Euro, previously supplied Boohoo from a UK-based factory before a scandal involving low wages and poor conditions emerged.Having moved its operations to Morocco, the supplier now operates under a new name, Euro Touch, and resumes business with Boohoo.Boohoo has publicly stated that all current garments from this supplier are produced in Morocco’s Tangier-based facility.Despite removing over 400 suppliers in response to past scandals, critics argue Boohoo’s supply chain transparency remains superficial.Boohoo, a leading…