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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Jan- 2024 -5 January
Zalando direct-to-consumer VP steps down
Carsten Keller, Zalando’s direct-to-consumer vice-president and CEO and founder of the group’s Connected Retail division, has decided to leave the company after eight years. Keller joined Zalando in 2016 to to build the brand’s marketplace ecosystem. In 2018, Keller founded Connected Retail for brick-and-mortar stores. With the launch of Connected…
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2 January
Uniqlo UK boss to cut prices to attract more shoppers
Uniqlo’s UK boss, Alessandro Dudech, has vowed to cut prices as inflation eases out as it seeks to attract more shoppers to boost its expansion plans, the Telegraph has reported. According to Dudech, the group plans to pass on the falling cost of materials to consumers by cutting prices on…
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Dec- 2023 -21 December
Frasers Group acquires Matches for £52m
Frasers Group has confirmed it has acquired the Matches business from MF Intermediate Limited in a deal estimated to be around £52m. The company has purchased 100% of the shares of a group of six companies, as well as the acquisition of the senior and junior debt owed by those…
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21 December
Mango welcomes ‘record’ year as sales top €3bn
Mango has welcomed a “record” year of sales in 2023, with expectations that full-year turnover will hit €3bn (£2.6bn), surpassing its current sales record of €2.68bn (£2.3bn). The news comes as the Spanish fashion group expanded its online sales to 20 new countries in the last 12 months, exceeding 110…
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19 December
Superdry issues FY24 profit warning amid mild weather
Superdry has warned on profits for the 26-week period ended 28 October, attributing a 13% year-on-year drop in sales to “abnormally mild” weather. While the retailer expected wholesale to be down 41.1% year-on-year due to its decision to exit its US wholesale operation, it was also driven by “timing differences…
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19 December
Farfetch acquired by Coupang in $500m rescue deal
South Korean ecommerce group Coupang has agreed to acquire Farfetch, which had been seeking a rescue deal in recent weeks, The Financial Times has reported. The rescue deal, which also involves Greenoaks Capital Partners, will see Farfetch receive a $500m (£394m) bridge loan to help it continue operating. Coupang negotiated…
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18 December
Farfetch seeks last-minute rescue deal
Farfetch is reportedly looking to secure a last-minute rescue deal with a private equity-backed buyer, according to The Sunday Times. Whilst the buyer’s identity is unclear, The Times reported that advanced talks are in place over a deal to take the online retailer off the stock market in a take-private…
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18 December
Frasers Group in talks to acquire Matchesfashion
Frasers Group is reportedly in talks to acquire Matchesfashion, which sells fashion brands including Balenciaga, Gucci and Valentino, according to reports from Sky News. The company is said to be in detailed negotiations about a deal that could see it take control of the brand within days. City sources told…
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13 December
Sosandar maintains FY guidance despite half-year loss
Sosandar has fallen to a pre-tax loss of £1.3m in its half-year results, down from a profit of £0.1m the prior year, but maintained its full-year outlook following strong autumn trading. The company saw revenues rise by 6% to £22.2m in the six months ended 30 September, with trading said…
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12 December
Shein mulls London IPO
Fast-fashion giant Shein is reportedly considering plans for a London Stock Exchange flotation, Sky News has reported. According to Sky, Shein chairman Donald Tang met with LSE executives and other stakeholders during a visit to London last week to discuss the move. Sources told the publication that ensuing talks were…
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