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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Jun- 2024 -13 June
Shein ups prices ahead of planned London IPO
Shein has increased its prices by over a third on some core items in an attempt to boost revenues ahead of its anticipated IPO on the London Stock Exchange. According to Reuters, Coresight Research estimates Shein’s revenue will reach $50bn (£39m) this year, up 55% on last year’s figure. The…
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13 June
Dr Martens secures new majority shareholder amid restructure
Dr Martens has revealed that Guernsey-based IngreGrsy Limited has acquired a 38.46% ownership stake in the British retailer. The announcement is part of a restructure within Dr Martens’ owner Permira’s buyout fund. Permira had acquired the bootwear company from R Riggs Group Limited in January 2014 for £300m. As a…
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12 June
Superdry creditors vote through restructuring plan
Superdry has revealed that its creditors have voted overwhelmingly in favour of its restructuring plan. The company stated 99% of its creditors voted for the plan which now only requires shareholder approval. The plan will involve rent reductions at 39 stores, delisting from the stock market and an equity raise…
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12 June
Castore opens new site at Centre:mk
Sportswear brand Castore has announced its regional debut into Milton Keynes with the launch of its new store at Centre:mk. Set to open on Silbury Arcade in late June, Castore’s 865 sq ft location will be one of the brand’s first new store concepts designed by Ink Associates. The centre:mk…
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11 June
White Stuff to launch wholesale arm in the US
White Stuff will be officially launching in the US this summer as part of its international expansion plans to double the size of its wholesale business over the next four years. The fashion retailer’s entrance into the US will be through several wholesale partners in Illinois, Indiana, Michigan, Iowa, Wisconsin…
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11 June
Battersea Power Station appoints new CEO
Battersea Power Station Development Company (BPSDC), the Malaysian owned operator and developer of London’s iconic Battersea Power Station, has appointed Donagh (‘Don’) O’Sullivan, as CEO, commencing Tuesday 18 June 2024. As CEO, O’Sullivan will lead the continued development of the former industrial brownfield site following the restoration and public opening…
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10 June
Alo Yoga to open new store in Covent Garden
Alo Yoga, the luxury activewear brand, has selected Covent Garden as the UK location for a new store. The lifestyle brand is set to open its 5,000 sq ft anchor unit at the junction of Neal Street and Earlham Street, a gateway to Covent Garden’s Seven Dials neighbourhood. Alo Yoga’s…
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6 June
N Brown returns to profit despite weakened sales
N Brown has posted a profit-before-tax of £5.3m, up from a loss of £71.1m, for the year ended 2 March 2024. Despite this increase, the company saw its revenue drop 9.8% down to £600.9m from £677.5m. The company’s product revenue also dropped 10.6% from £433.4m down to £381.2m. Alongside this,…
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6 June
Authentic Brands Group to acquire Champion
Authentic Brands Group, a global brand development, marketing, and entertainment platform, has signed a binding agreement to purchase the Champion Athleticwear brand and business from HanesBrands. According to Authentic, the “strategic” move demonstrates its commitment to expanding its portfolio of sports, lifestyle, entertainment and media brands and will increase its…
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5 June
Zara owner Inditex sees sales rise to €8.2bn in Q1
Zara owner Inditex has reported a 7.1% increase in sales to €8.2bn (£6.98bn) in the first quarter of 2024. The group’s gross profit also increased 7.3% to €4.9bn (£4.17bn) and gross margin reached 60.6%. Additionally, the group’s EBITDA rose by 8% to €2.4bn (£2.04bn) and EBIT increased 10.3% to €1.6bn…
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