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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Sep- 2021 -24 September
Very Group snaps up former Fenwick CEO as newest managing director
The Very Group has announced that it has appointed Robbie Feather, the former CEO of Fenwick, as its newest managing director with effect November 2021. Feather will succeed Sam Perkins, who will step down at the end of the year after seven years with the operator of very.co.uk. Prior to…
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24 September
G-III Apparel Group to acquire luxury fashion brand Sonia Rykiel
The G-III Apparel Group has announced it has agreed a deal to acquire the European luxury fashion brand Sonia Rykel. The group, which features a portfolio of more than 30 licensed and proprietary brands including DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris, said it plans to…
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24 September
Nike Q1 revenues climb 16% to £8.9bn
Nike has announced that group revenues increased 16% year-on-year to $12.2bn (£8.9bn) in Q1 FY22. The global retailer also revealed that net income climbed 23% to $1.87bn (£1.36bn) in the three-month period ended 31 August 2021, compared with $1.52bn (£1.11bn) the previous year. Revenues at the group’s EMEA and North…
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24 September
In the Style warns of profit hit despite trading boost
In the Style has warned that ongoing supply chain issues could impact its profitability in the near-to-medium-term thanks to ongoing supply chain disruptions, despite having seen a trading boost in recent months. The fashion retailer said it has “not been immune” to the impact of the ongoing freight and supply…
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23 September
French Connection receives takeover offer of £29m
French Connection has announced that it has received a buy-out offer of £29m by its second largest shareholders Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited. The offer comes as its share price increased by 15% to 26.9p, giving it a market value of roughly £26m. The company,…
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22 September
Superdry partners with Oxfam on sustainability drive
Superdry has announced that it will be partnering with Oxfam to offer ‘Give Back’ boxes in stores to donate pre-loved clothes as part of its sustainability initiatives. The scheme will be initially piloted in 22 UK stores, plus access for Superdry staff at HQ. Once the clothes have been donated,…
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22 September
Vestiaire Collective completes £154m funding round
Vestiaire Collective, the global pre-owned fashion platform, has announced the completion of a $210m (£154m) funding round. Led by Softbank Vision Fund 2 and Generation Investment Management, the investment was also backed by existing shareholders Bpifrance, Condé Nast, Eurazeo, and funds managed by Fidelity International and Korelya Capital. Following the…
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20 September
Gap to return to the UK with new Next partnership
Next has announced that it has finalised an agreement with Gap to manage the business in the UK and Ireland as a franchise partner. Under the agreement, the companies will form a joint venture to operate Gap’s e-commerce business across the Next total Platform, host Gap-branded shop-in-shops at select retail…
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17 September
Reiss swings to £13.6m FY21 loss
British fashion brand Reiss has announced that it swung to a loss before tax after exceptional items of £13.6m in FY21, down from profits of £20.1m the year before. The group also reported a 24.6% year-on-year fall in revenues to £170.7m for the 52-week period ended 30 January 2021. Reiss…
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16 September
Superdry sees its losses narrow to £36m
Superdry CEO Julian Dunkerton has hailed that the company is “turning the corner” after it revealed statutory losses before tax for FY21 have narrowed to £36.7m, down from £166.9m the previous year. In its preliminary results for the 52-week period ending 24 April 2021, the retailer posted a full year…
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