Author: Dave Antrobus
Sosandar is set to open physical stores in Marlow and Chelmsford this autumn, marking its entry into brick-and-mortar retail.The fashion brand reported a 9% rise in revenue to £46.3m, despite a £300,000 loss before tax for FY24.The shift in strategy includes a reduction in price promotions to focus on margin growth, resulting in a profitable second half.Sosandar plans to expand to 50 stores in five years, enhancing its presence in premium retail locations.Third-party partnerships remain strong, with successful international ventures providing a positive outlook.Sosandar is poised to launch its first physical stores in Marlow and Chelmsford this September, a strategic…
Burberry faces a CEO change as Jonathan Akeroyd steps down amidst financial struggles.The company’s revenue dropped by 22% to £458m in the first quarter.Share prices plummeted by 16%, reaching a 14-year low.Industry reactions suggest the leadership change is unsurprising given recent performances.Joshua Schulman, with extensive experience, steps in as the new CEO with immediate effect.Burberry has announced a strategic leadership transition as Jonathan Akeroyd steps down as CEO, following a significant 22% decline in revenue to £458 million for the 13 weeks ending 29 June. This unexpected departure comes amidst financial turmoil, with share prices dropping by 16% to their…
Spanish fashion retailer Mango has achieved its highest half-year revenue in history, exceeding €1.5bn as of June 2024.The revenue milestone marks a 6.3% growth compared to the same period in the previous year, driven by international sales.Mango’s womenswear division remains dominant, contributing 79% of total revenue, with menswear showing the highest growth in the period.The retailer has significantly expanded its global footprint, adding 57 new stores, aiming for 2,800 stores by year-end.CEO Toni Ruiz highlights the performance as the best in Mango’s 40-year history, emphasising the brand’s commitment to its value proposition.Mango, the prominent Spanish fashion retailer, has reported a…
Represent, a renown British streetwear brand, is marking its presence locally by opening its inaugural UK store.The store is strategically situated at Unit 2 New Cathedral Street, nestled between notable brands Canada Goose and Paul Smith.Founded by George and Mike Heaton in 2011, Represent has built a global reach with over 150 stockists, including high-end names like Selfridges and Harrods.Prior expansions saw the brand opening its first physical location in Los Angeles and a planned future site in London.Creative director George Heaton expressed excitement and pride in establishing a store in the brand’s hometown, emphasising its significance.Represent, a prominent name…
June’s retail sales increased by 3.2% year-on-year, marking a recovery.Online sales showed significant growth, up by 9.8%, bolstering retail figures.In-store fashion sales declined by 6.7%, contrasting other sectors.Lifestyle and homeware sectors recorded growth of 7.5% and 3%, respectively.The government’s new plan aims to revitalise struggling high streets.June saw a notable 3.2% increase in retail sales compared to the same month the previous year. This marks the most significant sales growth since August 2023, as reported by BDO’s High Street Sales Tracker. This positive trend follows a difficult period of five consecutive months of negative results, highlighting a shift in consumer…
Mulberry announces Andrea Baldo as the new CEO, succeeding Thierry Andretta.Baldo previously led Ganni, expanding its global footprint and gaining B Corp certification.The leadership change aims to leverage Baldo’s expertise in international fashion management.Chris Roberts praises Baldo’s strategic vision for sustainable growth in Mulberry’s next chapter.The transition is effective immediately, highlighting the brand’s forward-looking strategy.British luxury brand Mulberry has named Andrea Baldo as its new chief executive officer. This pivotal decision marks the conclusion of Thierry Andretta’s tenure. The appointment, announced on 9 July 2024, is effective immediately, with Baldo set to officially join the board on 1 September 2024.Andrea…
This summer, UK retail destinations experienced a noticeable decline in footfall, continuing a concerning trend.June saw an overall footfall decline of 1.4% compared to the previous year, with high streets and shopping centres particularly affected.Despite an increase from May, the gains primarily occurred in the latter part of June, spurred by events like the Euro’s and Taylor Swift’s tour.Retail parks bucked the trend slightly with a modest footfall increase, amidst overall declines elsewhere.Consumer holiday plans, as highlighted by MRI Software, indicate potential further decreases in retail footfall during July and August.In June, UK retail destinations faced a pronounced decrease in…
Nudea, a sustainable underwear brand, is set to debut at Nordstrom’s US stores from July 4.Nudea’s partnership with Nordstrom marks a significant expansion in the North American market.The brand’s products, including underwear and sleepwear, are already available through 16 US stockists.Founder Priya Downes expressed excitement about the strategic alignment with Nordstrom’s premium retail offering.Nudea’s expansion aligns with Independence Day, promising increased visibility among American consumers.The sustainable underwear brand Nudea is broadening its retail presence by launching its collections at Nordstrom stores across North America starting on July 4, a date notable as Independence Day in the United States. This strategic…
Frasers Group continues its UK expansion by acquiring the Frenchgate Shopping Centre in Doncaster.The Frenchgate Shopping Centre, spans 770,000 sq ft and hosts over 120 retailers, attracting more than 16 million visitors annually.This acquisition, advised by CBRE, marks another significant addition to Frasers Group’s real estate portfolio, following recent acquisitions in Luton and Dundee.With plans to significantly expand existing store sizes, Frasers aims to enhance customer experiences and retail offerings.CEO Michael Murray emphasises the company’s commitment to revitalising UK high streets with top brands and retail environments.Frasers Group has made a strategic acquisition by purchasing the Frenchgate Shopping Centre in…
Shoe Zone faces significant challenges due to elevated shipping costs and reduced consumer demand.The company revised its profit forecast for the fiscal year ending 2 October 2024 to approximately £10 million.Shipping delays and increased costs related to the National Living Wage have compounded financial pressures.Rising container prices and unseasonal weather have contributed to weakened sales during spring/summer 2024.A recent cyber attack adds to the difficulties Shoe Zone is currently navigating.Footwear retailer Shoe Zone has revealed considerable financial struggles resulting from ongoing pressures linked to high shipping costs and tepid sales figures. In a statement released on 2 July 2024, the…
