Author: Scott Dylan

Monzo, the London-based fintech firm, recently enhanced its valuation to £4.5bn following a fresh employee share sale, marking a £400m increase since May.The share sale involved participation from prominent investors such as StepStone Group and Singapore’s sovereign wealth fund, GIC, both previously involved in Monzo’s £500m capital raise.Monzo continues to expand its customer base significantly, now serving over 10 million customers including 1 in 5 UK adults, and aims to broaden its European and American operations.The company’s recent financial report highlights a near-doubling of net operating income to £215m, with prospects of achieving its first profitable year.Monzo’s leadership, including CEO…

The fashion retail sector has experienced a series of notable leadership changes recently.John Lewis’s CEO Nish Kankiwala transitions to a non-executive advisory role, indicating strategic restructuring.Quiz’s CFO Gerry Sweeney has decided to step down after a long tenure, reflecting shifting dynamics within the company.Gucci appoints Stefano Cantino as CEO during a challenging period, highlighting the brand’s adaptive strategies.Matalan’s Jo Whitfield exits as CEO to pursue a diverse portfolio career, marking another significant departure.The fashion retail industry continues to undergo substantial transformations, as several high-profile leadership shifts have recently been announced. John Lewis Partnership’s CEO Nish Kankiwala will transition to a…

River Island has announced a financial setback for the year ending 30 December, attributing the decline to multiple market challenges and internal restructuring.The company recorded a pre-tax loss of £32.2 million, a sharp contrast to the £7.5 million profit reported in the previous year.Revenue fell by 15%, reaching £701.5 million, largely due to intensified market competition and changing consumer preferences.Efforts to revamp stores and refocus product lines marked 2023 as a ‘year of reset’ for the fashion retailer.Despite operational hurdles, River Island remains optimistic, with recent investments showing signs of improving business performance.River Island, a prominent name in fashion retail,…

Morrisons introduces white eggs as part of its ‘For Farmers’ initiative.White eggs, nutritionally similar to brown eggs, have a lower carbon footprint.Hens laying white eggs require less feed, reducing environmental impact.The ‘For Farmers’ scheme has returned over £25m to farmers since 2015.Morrisons collaborates with egg farmers to promote sustainability.In a move to promote sustainability, Morrisons has introduced a new line of white eggs as part of its ‘For Farmers’ initiative. This initiative allows customers to contribute to farmers’ welfare by purchasing products that ensure additional financial support back to the agricultural community. Specifically, the introduction of white eggs is a…

Julie Gilhart, non-executive director at Mulberry, will step down after nearly ten years.Gilhart’s term concludes at the upcoming AGM on 19 November 2024.She joined Mulberry’s board as an independent director in December 2014.Chris Roberts expressed gratitude for Gilhart’s contributions over the decade.Frasers Group recently increased its stake in Mulberry amid takeover discussions.In a recent announcement, Mulberry revealed that Julie Gilhart, its non-executive director, will step down following the company’s upcoming Annual General Meeting (AGM) scheduled for 19 November 2024. Gilhart’s departure marks the end of nearly a decade-long tenure with the British luxury fashion house.Julie Gilhart joined the board of…

Quiz’s Chief Financial Officer, Gerry Sweeney, is resigning after an eight-year tenure, effective March next year.During his tenure, Sweeney played a crucial role in the company’s financial strategies.The fashion retailer is currently experiencing a downturn in sales and profits, reporting a significant pre-tax loss.A recruitment process is underway to identify Sweeney’s successor and ensure a seamless transition.CEO Sheraz Ramzan expressed confidence in the company’s future and thanked Sweeney for his dedicated service.Quiz, a prominent fashion retailer, has announced the impending departure of its long-serving Chief Financial Officer, Gerry Sweeney. He is slated to exit the company after more than eight…

THG has confirmed the demerger of Ingenuity, aiming for a streamlined business model.CEO Matthew Moulding is spearheading a £75m equity raise to facilitate the spin-off.The newly independent Ingenuity is valued at approximately £100m, focusing on digital brand scaling.Shareholders, including Sir Terry Leahy, are expected to contribute significantly to the equity raise.THG continues to enhance its core operations with a rise in third quarter revenues.THG, a notable entity in the e-commerce sector, has announced its strategic decision to proceed with the demerger of its Ingenuity division. This move is aimed at enabling the company to simplify its business model, thus maintaining…

THG has successfully raised £95.4m to fund the separation of its technology division, Ingenuity, into a standalone entity, exceeding its initial £75m target. The fundraising involved substantial investments from both new financiers and existing shareholders, highlighting confidence in THG’s strategic direction. Contributions included significant placements, subscriptions, and strategic investments from key stakeholders. The move aligns with THG’s ongoing efforts to streamline its business model and enhance operational efficiencies across its divisions. This financial development comes amidst varying sales performances across THG’s business segments.In a strategic financial move, THG has raised a total of £95.4 million to facilitate the spin-off of…

THG has successfully raised £95.4 million exceeding initial targets to support the Ingenuity demerger.An oversubscribed fundraising effort included a significant £50 million from existing shareholders.CEO Matthew Moulding spearheaded the investment drive with a personal contribution of £10 million.Frasers Group solidified a strategic £10 million investment, enhancing their partnership with THG.The upcoming demerger will refine THG’s focus on its core beauty and nutrition sectors.The ecommerce conglomerate THG has announced its achievement of raising £95.4 million in funding, surpassing its previously set goal of £75 million. This financial boost comes through a successful share placement and subscription offer. The company’s strategic move…

A major construction project has commenced near the M6, backed by financial support from Together, despite previous market disruptions.The development, led by Morley Estates and Barnfield Construction, includes a sizable warehouse and office space.The project aims to complete by spring, with significant interest from potential tenants already reported.The site promises to boost local employment, potentially creating up to 400 jobs.This marks the second phase of an ongoing development effort, with further expansions planned.Building has begun on a significant £15 million industrial development near the M6, funded by Together, a North West lender. The financial backing facilitates a joint venture led…