Author: Sam Allcock

John Lewis is undertaking significant changes to its buying and merchandising teams as part of a wider transformation led by Peter Ruis.The retailer plans to introduce 48 new roles while consulting on 20 existing positions to streamline operations.The restructuring aims to enhance product variety and improve career progression opportunities for Partners.Peter Ruis has emphasised the importance of adapting to a volatile market with targeted changes.Investments in new brands and leadership roles are central to the ongoing transformation efforts.John Lewis, under the leadership of Peter Ruis, is embarking on a strategic transformation of its buying and merchandising teams. The retailer plans…

Amazon’s revenue surged by 10% year on year in Q2 2024, driven by strong North American sales.Operating income rose significantly, alongside a notable increase in net income.Amazon Web Services (AWS) saw substantial growth in net sales, contributing to overall revenue gains.CEO Andy Jassy highlighted AWS’s expanding capabilities and customer preference due to its functionality and security.Looking forward, Amazon anticipates continued growth despite expected foreign exchange challenges.Amazon has reported a notable increase in revenue for the second quarter ending on 30 June 2024, with figures climbing by 10% to $148.0 billion (£116.2 billion) compared to the same period last year. This…

The latest episode of Drapers Talks podcast features Paul Wilkinson, Deliveroo’s product director, offering crucial insights.Paul Wilkinson highlights how innovation serves as a catalyst for customer satisfaction and business growth.The podcast emphasises the crucial role of ‘space’, ‘ownership’, and ‘freedom’ in fostering innovation within teams.Wilkinson underscores the importance of allowing team members to have decision-making power to drive innovation.This episode is a must-listen for those seeking effective strategies to enhance innovation within their organisations.In a recent episode of the Drapers Talks podcast, Paul Wilkinson, product director at Deliveroo, shared significant insights on the role of innovation in enhancing both customer…

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…