Author: Scott Dylan

LVMH has strengthened its portfolio by acquiring a stake in Swedish fashion brand Our Legacy, known for its minimalist and streetwear-inspired designs.Founded in 2002, Our Legacy has established stores in Stockholm, Berlin, and Seoul, with a UK presence in London’s Soho and premium retailers.LVMH did not disclose the specifics of the investment but aims to support Our Legacy’s market expansion and store footprint growth.Julie Bercovy from LVMH highlighted the brand’s unique style, combining contemporary minimalism with creative subversion and functional elegance.The investment follows LVMH’s pattern of supporting innovative streetwear names, including previous investments in Aimé Leon Dore and Madhappy.LVMH Luxury…

New Look has announced a change for its staff in the buying, merchandising, and design (BMD) department.The new policy increases in-office workdays from three to four per week starting January.The retailer claims the move aligns with industry practices and will enhance team collaboration.The decision only affects the BMD team, with other departments maintaining their current schedules.This change is part of a trend as seen with similar strategies by companies like Asda.New Look, a prominent fashion retailer, has unveiled plans for its buying, merchandising, and design (BMD) teams to increase their in-office presence from three to four days a week, effective…

Revolut appears ready to embark on a strategic acquisition phase.The finance sector is seeing shifts as fintech giant Revolut expands its M&A team.Despite challenging economic conditions, Revolut focuses on fast-tracking its growth plans.High-profile hires and public job listings suggest Revolut’s acquisition ambitions.Revolut aims to solidify its position as a top player with new ventures.Revolut, a leading fintech based in London, is poised for potential acquisitions as it seeks to expand its mergers and acquisitions team. The firm’s Finance and Strategy Manager has highlighted their need for additional personnel in the M&A division, placing emphasis on growth despite a climate where…

Burberry has appointed Paul Price, former Topshop CEO, as its chief product merchandising and planning officer.Price brings a wealth of experience, having previously held key roles in both Burberry and Topshop.He will oversee merchandising, planning, licensing, architecture, and showroom operations at Burberry.The appointment is seen as a strategic move to bolster Burberry’s leadership team.Price’s return marks an exciting chapter for the iconic British fashion brand.Burberry has strategically appointed Paul Price as its new chief product merchandising and planning officer, effective from 9 December. With this move, the British luxury fashion house aims to strengthen its leadership team and enhance its…

The ethical challenges posed by AI should not rest solely on the shoulders of companies.Aleksandra Pedraszewska of ElevenLabs emphasises the role of academia and regulators in addressing AI ethics.Commercial interests might cloud ethical decision-making in tech firms, warns Pedraszewska.A tragic incident involving a chatbot underlines the urgency of implementing robust safety measures in AI.Recent leadership changes in major AI firms highlight concerns over AI safety.The complexities inherent in AI ethics demand a collaborative approach, as relying solely on tech companies poses risks. Aleksandra Pedraszewska, ElevenLabs’ head of safety, argues that ethical considerations should not be an internal corporate matter. She…

The US Food and Drug Administration (FDA) has proposed the removal of oral phenylephrine from the market. This common ingredient in many over-the-counter decongestants is under scrutiny as new evidence questions its efficacy. Phenylephrine has been widely used for nasal congestion relief for several decades.Despite its ongoing availability, phenylephrine’s effectiveness has been challenged by numerous studies. The FDA’s proposal initiates a six-month period during which public comments will be considered. This process will inform the FDA’s ultimate decision on whether to continue allowing sales of these products.FDA’s Proposal and RationaleThe FDA’s announcement to potentially remove oral phenylephrine comes amidst concerns…

In the competitive landscape of the UK grocery market, Sainsbury’s has managed to secure a solid foothold, reporting a 5% increase in food sales in its first half. This growth has been supported by strategic initiatives tailored to changing consumer behaviours.However, this period also highlighted challenges within its Argos division, where sales have dipped by 5% amidst unseasonable weather and cautious consumer spending on large items. The contrasting outcomes reflect a dynamic and shifting retail environment where adaptability is paramount.Sainsbury’s Market GrowthSainsbury’s, one of the UK’s leading supermarket chains, has reported a notable increase in its food sales, attributing this…

Boohoo and Frasers Group are in a conflict over Boohoo’s strategic review and shareholder influence.Frasers Group, owning 27% of Boohoo, demands more control in Boohoo’s strategic decisions.Boohoo accuses Frasers of prioritising its own business interests through its investments in competitors.Boohoo argues that Frasers is not acting as an independent shareholder due to competing interests.Mike Ashley of Frasers wants to limit brand disposals without shareholder approval, raising concerns of conflicts.Frasers Group’s recent demands for a more substantial role in Boohoo’s strategic review met with strong resistance from Boohoo. The online retailer has accused Frasers, led by Mike Ashley, of prioritising its…

In a bid to address shifting economic dynamics, the Bank of England has lowered interest rates to 4.75%. This decision comes as inflation cools and economic pressures ease. The rate reduction aims to offer relief to UK businesses and consumers grappling with financial challenges. Recent fiscal policies have presented additional burdens, making this move particularly timely.Amidst these developments, the Monetary Policy Committee (MPC) has adopted a strategic stance to manage inflation and ensure economic stability. These efforts reflect a broader understanding of the interconnected factors impacting the UK’s economic health. As the Bank of England balances various influences, its policies…

In a significant legal development, television personality Kaye Adams has emerged victorious in her protracted battle with HMRC over the contentious IR35 tax regulation. Her triumph underscores a pivotal stance on self-employment rights, achieved after multiple legal confrontations. This outcome not only reflects individual perseverance but also sheds light on broader implications within the tax framework.Adams, recognised for her contributions on ‘Loose Women’, has been engaged in a legal tussle that has spanned over a decade, challenging HMRC’s classification of her employment status. The heart of the dispute revolved around the determination of whether Adams was an independent contractor or…