Author: Scott Dylan

Mulberry seeks to secure £10 million in funding amidst financial challenges.The company reports a pre-tax loss of £34.1 million for the fiscal year.Group sales decreased by 4% year-on-year, affecting overall performance.Mulberry plans to issue new shares and launch a retail offer to strengthen its position.New CEO Andrea Baldo outlines strategy for short-term recovery and long-term growth.Mulberry, the renowned luxury fashion retailer, is undergoing significant financial challenges and is poised to raise over £10 million in capital. This strategic move follows a reported pre-tax loss of £34.1 million for the year ending on March 30, marking a stark reversal from the…

Bango, a Cambridge-based fintech firm, projects a notable increase in subscription services among major British banks following its recent financial performance.Bango experienced an 18.6% rise in half-year revenues, predominantly driven by a substantial 60% increase in subscription bundling services.Paul Larbey, CEO of Bango, believes banks will transition from free accounts to subscription models, enhancing service offerings with incentives like free video streaming packages.Amidst these developments, London’s fintech sector witnesses traditional banks emulating neobanks’ strategies, such as offering discounts via partnerships with popular service providers.Despite achieving revenue growth, Bango contends with rising net debt and reduced pre-tax losses, indicating a complex…

Rising global egg prices are attributed to widespread bird flu outbreaks.Egg prices have increased by 60% since 2019 due to avian flu.North America and Europe have been majorly affected, with millions of birds culled.UK farmers face difficulties with flock management amid ongoing risks.Investment and innovation are prominent in attempts to stabilise the egg industry.The global escalation in egg prices has been critically influenced by recurrent bird flu outbreaks, which have substantially disrupted supply chains. The Financial Times reports that these prices are now 60% higher than their 2019 levels. This significant increase is largely due to widespread avian flu cases…

Over 30 UK food businesses press for mandatory waste reports amidst eco initiatives.Leading retailers like Tesco and Aldi champion better food surplus repurposing.Sector push aligns with government targets to halve food waste by 2030.The British Retail Consortium and Too Good To Go drive the movement.Mandatory reporting is seen as crucial for accountability and sustainability.In a significant move towards enhancing sustainability within the food sector, over 30 leading food retailers and producers have collectively appealed to the UK government for the imposition of mandatory food waste reporting. This initiative, reported by The Guardian, underscores a commitment to addressing the substantial amount…

Nesti has secured £250k to enhance its AI-driven sales video tool, indicating a promising future.The investment round was led by SFC Capital, with participation from angel investors within Nesti’s client network.Nesti’s tool uses generative AI to create personalised video pitches, enhancing outbound sales engagement.The investment marks a milestone in AI for B2B video generation, as demonstrated by peers like Synthesia.Nesti’s platform has shown significant improvements in conversion rates for its users.Nesti, an innovative startup founded in 2024, has successfully secured a pre-seed investment of £250,000. This substantial funding aims to propel the development of its AI-enabled video generation tool, designed…

Raspberry Pi introduces a Sony-powered AI camera, enhancing its AI product offerings.Utilises IMX500 image sensor, compatible with Raspberry Pi’s single-board computers.Launched to streamline AI solutions requiring advanced image processing.Partnership with Sony Semiconductor Solutions furthers their long-term collaboration.Raspberry Pi’s revenue rose by 61% within the first half of the year post-IPO.Raspberry Pi, a prominent player in affordable computing, has announced the release of a new AI camera integrated with Sony technology. The camera harnesses the power of the IMX500 image sensor, noted for its built-in AI acceleration capabilities. This development marks a significant enhancement in Raspberry Pi’s AI portfolio, offering advanced…

Gymshark announces the opening of four new stores within a year, enhancing its physical retail presence.The new outlets will include three permanent stores and a retail outlet pop-up, broadening reach across Europe.Notably, Gymshark’s first mainland Europe store will debut in Amsterdam, reflecting strong market demand.The expansion aligns with Gymshark’s omnichannel strategy, targeting locations with high footfall and fitness-centric communities.This initiative signals a strategic ramp-up for the brand, with plans to have seven stores by mid-2025.Gymshark is embarking on a significant expansion of its physical retail footprint in the next year, reflecting its commitment to an evolving omnichannel strategy. The fitness…

Asda is expanding its collaboration with Too Good To Go, extending the food redistribution initiative to nearly 1,000 sites from September.Too Good To Go, a surplus food marketplace, offers customers ‘Surprise Bags’ containing edible surplus food.The partnership includes Asda supermarkets, Express stores, and foodservice sites such as Leon, Greggs, Sbarro, and Subway.Since 2021, the partnership has saved over two million kilograms of food from waste.Asda’s strategic initiatives aim to reduce food waste, aligning with its ongoing sustainability efforts.Asda is extending its alliance with Too Good To Go, the largest global surplus food marketplace, to encompass nearly 1,000 sites, effective from…

M&S is evaluating a warehouse expansion in Northamptonshire to drive online growth.The retail giant seeks a 1 million sq ft facility to support its fashion and homeware sectors.Currently, 50% of these sales are targeted for online, though store sales dominate.Recent digital enhancements have improved user experience on M&S’s online platform.Supply chain optimisation, including automation and reduced centres, remains ongoing.In a strategic move to boost its online presence, M&S is investigating a potential deal for a substantial warehouse situated in the Midlands. With its online fashion and homeware sectors witnessing significant growth, the retail giant is eyeing a 1 million square…

AllSaints has introduced its first standalone store in Egypt, enhancing its global presence.The store is located at Cairo’s Mall of Arabia, covering 2,368 sq ft.This expansion marks the brand’s first venture into Africa.The new store design, initially launched in Los Angeles, has been positively received worldwide.CEO Peter Wood is optimistic about strengthening AllSaints’ market position in Egypt.In a strategic move to widen its global footprint, AllSaints has opened its inaugural standalone store in the Egyptian market. Situated at the prominent Mall of Arabia in Cairo, the store spans 2,368 square feet, offering a diverse selection of clothing, handbags, footwear, and…