Clothing & Shoes
The latest news, updates and analysis on the clothing and shoes segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Apr- 2022 -8 April
TM Lewin lender to rescue brand from administration
An investment vehicle owned by Petra Group has reportedly reached a deal to acquire TM Lewin after it collapsed into administration for the second time last month. According to Sky News, the lender to TM Lewin reached an agreement with Interpath Advisory to buy out the menswear brand, with sources…
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6 April
Farfetch agrees Neiman Marcus partnership amid £152m investment
Farfetch Limited and the Neiman Marcus Group (NMG) have announced a global strategic partnership which will see Farfetch make a minority common equity investment of up to $200m (£152.75m) into NMG. Through this agreement, NMG will utilise the Farfetch Platform Solutions (FPS) to re-platform the Bergdorf Goodman website and mobile…
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6 April
M&S becomes first major high street brand to join Dotte resale
M&S Kidswear has announced it has become the first major UK high street retailer to trial the fully circular kidswear peer-to-peer marketplace where parents can buy, sell, donate, and recycle outgrown kidswear – Dotte. Founded in 2020 by Louise Weiss and Samantha Valentine, Dotte seeks to address the “challenges parents…
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6 April
Skechers adds Cinedigm CCO to board of directors
Skechers has announced that Yolanda Macias has been appointed to its board of directors, bringing the total number of directors to eight. The Skechers board is now comprised of founder, chairman and CEO Robert Greenberg, president Michael Greenberg, chief operating officer David Weinberg, as well as independent members Katherine Blair,…
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6 April
Sosandar set to welcome ‘record’ results in FY22
Sosandar is set to achieve record sales in what it dubbed a “milestone year” for the retailer, as it expects to report revenue in excess of £29m, up 138% year-on-year. Meanwhile, EBITDA loss will be reduced by over 80% from a loss of £2.92m in FY21, following six consecutive EBITDA…
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Mar- 2022 -30 March
Lululemon surpasses £6bn in revenues
Athleisure brand Lululemon has reported a “strong” FY21 performance revealing its revenues surpassed $6bn (£4.5bn) for the first time. The performance was boosted by a 23% increase in net revenues during the fourth quarter. It also revealed that company operated store net revenue increased 70% for the year, with net…
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28 March
M&S to expand Jaeger store presence with 14 openings
Marks and Spencer (M&S) has announced that 14 Jaeger stores are set to open across the UK and Ireland, following “encouraging” early demand for the brand online and a successful UK store trial which has been running since October last year. Jaeger is an independent brand under the M&S ecosystem,…
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28 March
Ted Baker rejects Sycamore takeover proposals
The board of Ted Baker PLC has confirmed it has rejected two unsolicited non-binding proposals from Sycamore Partners Management L.P., following press speculation. Ted Baker said Sycamore “significantly undervalued” the company and “failed” to compensate shareholders for the “significant upside that can be delivered by Ted Baker as a listed…
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24 March
Next hit with £85m sales loss amid Ukraine and Russia closures
Next has revealed it has lowered its sales guidance for the financial year 2022/23 to £85m, down 2% following “anticipated losses overseas” amid the closure of the company’s websites in Ukraine and Russia. The company has also lowered its profit guidance by 1.2% to £10m following the loss of £18m…
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23 March
H&M enters the Cambodian market
H&M has marked its entrance into the Cambodian market with the opening of its first store in the country. The new store is located in the Aoen Mall which is based in Phnom Penh, the capital of Cambodia. The new Phnom Penh store includes departments for women, men, kids and…
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