Author: Sam Allcock

Ted Baker, a prominent fashion retailer, faces imminent closure of its UK stores and website, as announced by administrators.The brand’s administrators, Teneo, have communicated to staff that the planned closures should not detract from their efforts.Discussions with potential new operating partners have stalled, prompting the decision to cease operations.The business, acquired in 2022 by Authentic Brands Group for £211m, was converted to a licensing model post-acquisition.Closure activities are scheduled to span from 9 to 21 August, pending the completion of ongoing stock sales.Ted Baker, a renowned name in the fashion industry, is set to shut down its remaining UK stores…

Shopping centre owner Hammerson has sold its 42% stake in Value Retail to a subsidiary of LVMH-backed L Catterton for £1.5bn.The transaction will yield approximately £600m in cash proceeds for Hammerson.Value Retail operates nine luxury outlet centres, including Bicester Village.L Catterton is a significant player in the fashion industry, owning brands like Birkenstock.Hammerson’s CEO stated this deal marks a strategic turning point for the company.Shopping centre owner Hammerson has entered into a binding agreement to sell its 42% stake in the renowned designer outlet group, Value Retail, to a subsidiary associated with LVMH-backed private equity firm L Catterton. This significant…

John Lewis has initiated a 16-week repair trial with Timpson Group at select stores.The trial offers mending, restoring, and dry cleaning services in five locations.Through this trial, John Lewis aims to gather insights on customer service preferences.Repair service pricing ranges from £10.95 to £99.95 depending on the item.This initiative underlines John Lewis’s commitment to sustainable fashion practices.John Lewis has embarked on a 16-week trial, partnering with Timpson Group, to offer repair and dry cleaning services in select stores. The initiative is being carried out in five John Lewis locations, including Oxford, Liverpool, Cheadle, Milton Keynes, and Welwyn, aiming to acquire…

Selfridges in London has unveiled a temporary climbing attraction.The 40ft climbing column is part of the summer Sportopia campaign.It will be accessible for a limited time, from 19 July to 26 August.The attraction reflects the iconic design of the Oxford Street façade.The installation coincides with climbing’s increased popularity and Olympic status.Selfridges, a renowned luxury department store, has introduced an innovative and seasonal feature by unveiling a 40ft climbing column. This temporary attraction is strategically situated outside its flagship store on Oxford Street in central London. The installation is a significant part of the retailer’s Sportopia campaign, crafted to inject excitement…

Ghost is set to expand its fashion offerings with three new categories this autumn/winter season.The categories include denim, knitwear, and outerwear, complementing existing collections.First products launch online in late July, with prices ranging from £69 to £225.A cohesive collection aims to offer timeless, easy-to-wear pieces.Founded in 1984, Ghost celebrates 40 years in the fashion industry this year.Ghost, the renowned womenswear brand, is diversifying its product line by introducing three new categories—denim, knitwear, and outerwear—exclusively for the autumn/winter 2024 season. This strategic expansion complements Ghost’s existing offerings, including their signature satin slip dresses and workwear collections.The initial rollout of these new…

On 17th July, Asian Paints announced that its consolidated Q1 FY25 net profit had dropped nearly 25% year-on-year to £114 million, impacted by challenging demand conditions. This decline was greater than analysts’ expectations. Revenue from operations for India’s largest paint manufacturer also came in below forecast, falling more than 2% year-on-year to £876 million. A Moneycontrol poll of eight brokerages had projected that Q1 net profit would decline by 7.6% year-on-year to £140 million, and revenue was expected to remain almost flat at £902 million for the quarter. “The demand situation for the paints industry was tough, impacted by severe…

Sosandar reports a significant revenue increase amidst its strategic expansion.The womenswear brand has posted a 9% rise in revenue, totalling £46.3m for the fiscal year ending 31 March 2024.Despite experiencing a minor financial loss, the brand’s gross margin improved to 57.6%.Two new store locations in Marlow and Chelmsford have been confirmed, opening in September.The brand plans a focus on sustainable growth in FY25, with no aggressive revenue pursuits planned.In an impressive financial update, Sosandar, a prominent womenswear brand, reported a 9% rise in revenue during the fiscal year 2024, reaching £46.3m. Sales in categories such as partywear, dresses, tailoring, and…

Fast Retailing, Uniqlo’s parent company, has revised its profit forecast upwards due to robust trading results.The company projects a ¥475bn (£2.27bn) full-year operating profit after strong performance.Consolidated revenue reported a significant rise of 10.4% year on year, reaching ¥2.3665 trillion (£11.522 trillion).Profit before income taxes saw an impressive increase of 33% year on year, totalling ¥477.7bn (£2.325bn).The group’s strategic focus includes digital retailing, sustainability, and expanding its GU business segment.Fast Retailing, known for its brands Uniqlo and Theory, has adjusted its full-year operating profit forecast to ¥475bn, an indication of a strong second-half performance. This move underscores the firm’s strategic…

Radley, a British handbag and accessories brand, reported a 2.1% growth in group revenue to £77.3 million.The growth was primarily driven by a substantial increase in wholesale and US market sales.The company’s profitability fell due to website re-platforming issues and the costs of opening new stores.Radley experienced an 8% increase in direct-to-consumer sales, despite challenges in online sales.Sales in the US market grew by 12%, with Amazon marketplace sales significantly contributing to this growth.Radley, a renowned British handbag and accessories brand, has demonstrated resilience and growth in its latest financial year, marked by a 2.1% increase in group revenue to…

The growth rate of Bangladesh’s manufacturing sector significantly declined in June, dropping from 76.3 in May to 61.7, according to data released by the Metropolitan Chamber of Commerce and Industry (MCCI). This decline has impacted various key indicators, signalling a slowdown in the overall growth of the sector. The slowdown in the manufacturing sector has been reflected across several indices. The growth rates of new orders, new exports, factory output, input purchases, employment, and supplier deliveries have all decreased. This indicates a broad deceleration in the sector’s overall activities. Experts have noted that this slowdown in the manufacturing sector could…