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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Mar- 2022 -23 March
Threads Styling secures $12m to further expand e-commerce offering
Threads Styling, the luxury chat-based shopping platform, has announced it has raised a $12m (£9m) fundraising round led by Highland Europe and C Ventures, with participation from BVYP and TriplePoint Capital. It said the funding will enable Threads to continue to expand its current product offering, allowing it to “service…
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23 March
Nike Q3 revenues hit $10.9bn as traffic returns
Nike, Inc. has reported its revenues rose 5% year-on-year from $10.35bn (£7.83bn) to $10.9bn (£8.24bn) in the third quarter (Q3) of FY22, following the “steady normalisation” of traffic in owned physical retail, with Nike owned stores up 14%. Revenues for the Nike Brand were up 8% year-on-year to $10.3bn (£7.79bn),…
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18 March
H&M launches sustainable kidswear collection
H&M has launched its latest kidswear collection using more sustainable print techniques which have lower environmental impact. The collection is in collaboration with a Jakarta-based artist, Martcellia Liunic, and focuses on illustrations of creatures, plants, flowers, and shapes, the colours and prints. These have been printed onto a range of…
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18 March
Sycamore Partners eyes Ted Baker takeover bid
American private equity firm Sycamore Partners is reportedly considering a takeover bid for Ted Baker, according to Sky News. The outlet reports that Sycamore has appointed advisers Numis to help it evaluate a potential offer, with one source cited claiming it was considering approaching the board of the british fashion…
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18 March
T.M. Lewin calls in administrators for second time in two years
T.M. Lewin has collapsed into administration for the second time in two years as trading continued to be impacted by the effects of the pandemic. The menswear retailer confirmed that Will Wright and Chris Pole from Interpath Advisory have now been appointed as the latest joint administrators to the group. …
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17 March
Abercrombie & Fitch unveils new activewear sub-brand YPB
Abercrombie and Fitch, a division of Abercrombie and Fitch Co., has announced the launch of a new activewear sub-brand called YPB. YPB stands for “Your Personal Best” and reportedly aims to empower customers to perform to their highest potential. The sub-brand features a collection of “fashion-forward yet functional” activewear and…
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17 March
Prada FY21 revenues spike 41% to €3.36bn
Prada S.p.A has reported its revenues increased 41% year-on-year to €3.36bn (£2.82bn) in the full year ending 31 December 2021, also up 8% from pre-Covid levels. The group’s net income hit €294m (£246.4m) and EBIT grew to €489m (£409.83m). Prada also revealed its online sales surged 61% year-on-year, five times…
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17 March
Brunello Cucinelli acquires 43% stake in Lanificio Cariaggi
Luxury fashion retailer Brunello Cucinelli has announced that it has acquired from the Cariaggi family a 43% stake in the share capital of Cariaggi Lanificio S.p.A, the cashmere manufacturer. The purchase price of the shareholding was €15.05m (£12.62m), a value that is proportionally close to the current net worth of…
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16 March
Vestiaire Collective acquires US reseller Tradesy
Vestiaire Collective, the global online marketplace for “pre-loved fashion” has announced the acquisition of Tradesy, the US fashion reseller for an undisclosed sum. Vestiaire Collective and Tradesy were both founded in 2009 by female entrepreneurs committed to “transforming the fashion industry towards a more sustainable future” and the firms said…
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16 March
Inditex FY21 profits surge 199% despite Omicron impact
Inditex, the parent company of Zara, has reported its income before tax surged 199% to €4.19bn (£3.53bn) between 1 February 2021 and 31 January 2022 (FY21), rising year-on-year from €1.4bn (£1.17bn). Net income also surged 193% to €3.2bn (£2.73bn) compared to €1.1bn (£9.29m) in FY20. Additionally, sales increased 36% year-on-year…
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