Author: Scott Dylan

PrettyLittleThing, a leading online fashion retailer, has introduced a mandatory £1.99 fee for UK returns from 3 June.The return fee will be deducted from the customer’s refund or paid directly for alternative couriers.This move follows the trend set by other fashion retailers like Zara and Boohoo in recent years.The policy aims to address financial implications associated with high return rates in e-commerce.Similar strategies are being adopted by other retailers to manage costs related to ‘repeat refunders’. Effective 3 June, PrettyLittleThing, a significant player in online fashion retail, has begun charging a £1.99 fee for all returns within the United Kingdom.…

Chanel announces the departure of Virginie Viard, its creative director, sparking discussions on future leadership.Viard’s exit marks the end of a significant era after leading the brand to impressive financial growth.Amidst the cost of living crisis, Chanel faces challenges in maintaining consumer excitement.The industry expresses concern over the gender representation gap in fashion leadership.Speculation about potential successors highlights the ongoing debate over diversity and innovation.On a significant note, French luxury fashion house Chanel recently disclosed that creative director Virginie Viard is stepping down. Viard, who began her journey with Chanel in 1987 and took over the design helm in 2019…

Labour has announced a policy to make the mortgage guarantee scheme permanent, aiding first-time buyers.The scheme supports low-deposit mortgages and was recently extended by Chancellor Jeremy Hunt.Labour claims their ‘Freedom to Buy’ initiative will help over 80,000 young people onto the housing ladder.Statistics show 40% of young people aged 15 to 34 live with their parents, highlighting the need for assistance.Labour plans to reintroduce housing targets, fast-track planning on brownfield sites, and prioritise ‘grey belt’ land.Labour has pledged to permanently implement the mortgage guarantee scheme, a programme designed to aid first-time buyers by supporting low-deposit mortgages. This scheme, recently extended…

The Shadow Chancellor, Rachel Reeves, is under increasing pressure to raise capital gains tax (CGT) as a means of funding public services. With major tax increases on income, VAT, and national insurance off the table, Labour is exploring various fiscal strategies to meet their budgetary needs.With increases in income tax, national insurance, and VAT ruled out, Reeves is investigating other ways to raise revenue. Labour insiders suggest that she is examining up to twelve different fiscal strategies. A source close to the discussions revealed, “Rachel is considering a range of measures, each designed to contribute modestly to the overall budget,…

Businesses in the United Kingdom are planning to moderate both wage and price increases over the coming year, potentially paving the way for a reduction in interest rates this summer. This trend was highlighted in the Bank of England’s latest decision-maker panel survey.According to the survey, companies intend to raise pay by an average of 4.1 percent, a decrease from the 4.6 percent forecast in April. Similarly, prices charged by businesses, a key indicator of future inflation expectations, are predicted to rise by 3.8 percent over the next year, down from a previous forecast of 4.2 percent. These figures suggest…

The Institute for Public Policy Research (IPPR) has issued a stark warning to Britain, emphasising the urgent need to accelerate the development of offshore wind farms in order to meet the government’s stringent decarbonisation targets and maintain competitiveness with European counterparts.The government has committed to achieving 50 gigawatts (GW) of offshore wind capacity by 2030, a significant leap from the current capacity of 15GW. Despite this ambitious target, IPPR’s analysis indicates that, at the present pace, this milestone will not be achieved until 2048. Such a delay would undermine the government’s objective of decarbonising the electricity system by 2035, a…

Ikea has embarked on an innovative hiring strategy by employing virtual staff in its new store on Roblox. Set to open on June 24, this digital venture marks a pioneering step in the retail industry.The new roles will involve tasks such as guiding customers and serving digital meatballs, reflecting a blend of gaming and employment. This initiative aims to attract young talent from the UK and Ireland.The virtual roles at Ikea’s Roblox store encompass various tasks, including assisting customers in navigating the digital environment and selecting furniture. These positions offer a unique opportunity for players to engage in an employment…

The UK government proposes an extension of child benefit to higher earners, potentially impacting 700,000 more families.The current child benefit threshold is criticised for its inconsistencies between single and dual-earner households.New reforms suggest a single earner household can receive full benefits up to £120,000, with gradual withdrawal beyond £160,000.This £1.3 billion plan aims to be funded through tackling tax avoidance and evasion.The proposal is positioned as part of a broader strategy to bridge a polling gap with Labour.Currently, child benefit, worth over £2,000 annually for two children, is withdrawn when a household member earns over £60,000, with complete withdrawal at…

Mike Lynch has been acquitted of all charges related to the $11.1bn sale of Autonomy to Hewlett-Packard.The trial commenced in March in San Francisco following Lynch’s extradition.Prosecutors accused Lynch of inflating sales figures and misleading HP and regulators.The jury found in favour of Lynch, rejecting the allegations.Lynch expressed his relief and gratitude towards the jury and his legal team.The trial, which began in March in San Francisco, was preceded by a lengthy extradition battle from the United Kingdom to the United States. Mike Lynch first faced these fraud charges in 2018. Prosecutors accused him of artificially inflating sales figures, misleading…

The British Fashion Council (BFC) has outlined its top five priorities for the incoming government ahead of the 2024 general election.One key demand is the reintroduction of the VAT Retail Export Scheme to enhance Britain’s competitiveness.The BFC calls for a comprehensive business rates reform to support physical retail businesses.There is an urgent need for substantial investment in UK fashion’s international trade and education sectors.Sustainability and workforce development are critical areas needing legislative and strategic focus.As the 2024 general election looms, the British Fashion Council (BFC) is presenting a clear set of priorities to the incoming government, with the aim of…