Author: Scott Dylan

Under Armour has agreed to a $434 million settlement in a class action lawsuit regarding misleading financial disclosures.The lawsuit, filed in 2017, accused Under Armour of misrepresenting its financial status to shareholders.CEO Kevin Plank and the company were alleged to have exaggerated revenue growth claims to meet market expectations.Under Armour plans to use cash reserves and a $1.1 billion credit facility to fund the settlement.Approval of the settlement by the court is pending, which would prevent the scheduled trial in July.Under Armour, a renowned brand in the sports apparel industry, has reached a settlement agreement valued at $434 million to…

The Drapers Inner Circle Summit is set for 16 October at Ham Yard Hotel, London.A prestigious event for C-suite executives and leaders in the fashion retail sector.Focus on collaboration and learning from industry peers is a core element of the summit.Exclusive, invitation-only gathering hosted by Drapers for key fashion stakeholders.Significant for providing insights into becoming a forward-thinking leader in today’s fashion industry.The upcoming Drapers Inner Circle Summit, scheduled for 16 October, will take place at the esteemed Ham Yard Hotel in London. This exclusive event caters specifically to high-ranking executives, including C-suite members, founders, directors, and department heads from leading…

Fast fashion giant Shein has reportedly initiated its IPO process for the London Stock Exchange.The company aims for a £50 billion valuation as it prepares its prospectus for the Financial Conduct Authority.Switching from New York, Shein has pivoted to London after talks with UK Chancellor Jeremy Hunt.Former Chancellor Sajid Javid is in discussions to advise Shein, amidst industry concerns.Legal challenges arise as Oh Polly sues Shein, with additional past lawsuits from major brands.In a strategic move, fast fashion retailer Shein has embarked on securing a listing on the London Stock Exchange, reportedly starting the IPO process in early June. This…

John Lewis has introduced a 20-piece circular collection aimed at sustainability and durability in fashion and home products.The collection features 100% cashmere jumpers, organic cotton pyjamas, and recycled polyester duvets.Prices vary from £8.50 for baby sleepsuits to £135 for cashmere jumpers.Each item includes a QR code for detailed design process insights.The initiative supports a circular economy, focusing on materiality, durability, and recyclability.John Lewis has recently launched a new range of products known as the circular collection, comprising 20 pieces that span both fashion and home goods. This move marks a significant step in the company’s effort to merge style with…

Silas Adler, the founder of Soulland, has stepped down after more than two decades of leadership.Adler established Soulland in 2002, blending artisanship with streetwear, and quickly became a staple at Copenhagen Fashion Week.The brand has collaborated with notable names such as Nike and Hello Kitty, broadening its global influence.Jacob Kampp Berliner, CEO and sales director since 2006, will now assume full control of the company.Adler reflects on his journey, expressing gratitude and the need for new challenges ahead.Silas Adler, who established the renowned Danish fashion brand Soulland in 2002 at the age of 17, announced his resignation. Over the past…

Frasers Group and THG have formed a strategic alliance, enhancing their retail operations.Frasers Group acquires luxury platform Coggles from THG, marking a significant expansion.Integration of Frasers Plus into THG’s Ingenuity platform is a key feature of the partnership.This partnership will improve logistics and fulfilment efficiency for Frasers’ international operations.THG reports consecutive quarters of revenue growth, enhancing its competitive position.Frasers Group and THG have solidified a strategic partnership aimed at mutually enhancing their retail operations. This collaboration marks a significant step as Frasers Group acquires Coggles from THG, expanding its reach in the luxury sector. Both companies announced the integration of…

Evri, the prominent parcel delivery company, is significantly enhancing its sustainability initiatives by embracing “pedal power.”Evri plans to expand its fleet of e-cargo bikes and electric vehicles significantly within the next year.The company’s initiative aligns with its strategy to reduce carbon emissions and achieve net-zero status by 2035.The £19m investment is aimed at making Evri the largest operator of e-cargo bikes in the parcel delivery sector.Speculation arises as Evri’s private equity owners consider a potential £2bn sale of the company.Over the next year, Evri plans to expand its fleet from 33 to 99 e-cargo bikes and from 168 to 270…

The Conservative Party has announced a commitment to revitalise pubs, restaurants, and music venues, which have suffered significantly due to the COVID-19 pandemic and subsequent economic challenges. Within their first 100 days if elected, they propose to review licensing and planning laws in order to alleviate what they term as “disproportionate conditions and restrictions” imposed by local councils. This initiative is aimed at streamlining operations and reducing bureaucratic barriers for these businesses.The Conservatives are considering the establishment of a dedicated ministerial position for the night-time economy. Michael Kill, CEO of the Night Time Industries Association, has expressed cautious optimism regarding…

The Stoke-on-Trent-based company, founded by Emma Bridgewater, has reported a significant financial setback for the year ending May 2023, despite achieving a 9% increase in sales to £36.2 million. The brand, known for its distinctive homewares, saw its profitability severely impacted by rising production costs and staffing expenses.Production costs surged by nearly 20%, reaching £21 million, while staffing and administrative expenses increased by 15% to £16 million. This dual financial pressure pushed the company into a £1.4 million loss for the period.The homewares market’s fierce competition necessitated substantial online price reductions, particularly during the peak summer season, further constraining sales…

Apple has announced a delay in the rollout of its much-anticipated AI-powered features in Europe, citing stringent privacy and security requirements under the EU’s Digital Markets Act (DMA).The features, set to be available in the United States this autumn, will now only be available in Europe in 2025. These include enhancements to Phone Mirroring, SharePlay Screen Sharing, and the newly introduced Apple Intelligence.Apple articulated its concerns over interoperability requirements mandated by the DMA, arguing that such measures could compromise the security and privacy of its devices. In a statement, the company expressed: “Specifically, we are concerned that the interoperability requirements…