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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Jul- 2023 -28 July
Gap appoints new CEO
Apparel company Gap Inc. has announced the appointment of Richard Dickson as the company’s president and chief executive officer, effective 22 August, 2023. Dickson will join Gap Inc. from his most recent role as president and chief operating officer of Mattel, where he was a lead architect in a global…
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27 July
Authentic Brands acquires Rockport
Authentic Brands Group has acquired footwear brand Rockport, following the United States Bankruptcy Court for the District of Delaware approving the sale. According to the group, the addition of Rockport expands its footwear portfolio with a trusted brand that is “committed to comfort and technical product innovation”. Rockport has long…
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26 July
H&M sues Shein over copyright infringement
H&M is reportedly suing fast-fashion company Shein for copyright infringement in Hong Kong, according to Bloomberg News. Reports said that H&M first accused Shein of copying dozens of its designs back in 2021. Shein Group Ltd and Zoetop Business Co, a Hong Kong-based entity that previously owned Shein, are among…
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25 July
Superdry to close eight UK stores
Fashion retailer Superdry has confirmed that it is closing eight of its franchise stores in the UK, according to Drapers. The business has already shut down sites in Stoke On Trent, Ipswich, Luton, Telford, Lincoln and Bury St Edmunds. All eight stores are operated by franchise partner Aldrich Group, which…
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24 July
Matalan expects profits to improve despite drop in revenues
Matalan has revealed it expects its FY24 EBITDA of £60m-£65m, up from £30.6m in FY23, despite seeing its revenues fall in the 13 weeks to 27 May 2023 fall 8% to £263.6m. The retailer also revealed that its revenues improved to £122.5m, up from £116.1m, in the five weeks to…
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24 July
Adidas receives $565m in orders for first batch of unsold Yeezys
Adidas has sold around 4 million Yeezy shoes for $565m ( £440.7m) in an online sale after serving ties with Kanye West, according to the Financial Times. The news comes after the German group terminated its agreement with Kanye West in October after the rapper and fashion designer made antisemitic…
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21 July
Marks and Spencer chief slams ‘pathetic’ Marble Arch rejection
The chief executive of Marks and Spencer has slammed the government’s decision to deny the demolition and redevelopment of its flagship store on Oxford Street as “pathetic”. The company planned to demolish the existing three buildings and construct a larger 2 basement and nine-storey mixed-use development containing a retail store,…
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20 July
Kim Kardashian’s Skims valued at $4bn in latest funding round
Kim Kardashian’s Skims brand has reportedly raised $270m in its latest funding round which values the business at $4bn (£3bn), according to the New York Times. The company, owned by Kardashian and business partner Jens Grede, launched four years ago and was last valued at $3.2bn (£2.7bn). The shapewear retailer…
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20 July
John Lewis Fashion Rental trials new ‘Try It On’ service
John Lewis Fashion Rental has launched a new ‘Try It On’ service, a first for a UK rental site, in partnership with Zyler. The service allows customers to virtually ‘Try On’ their chosen outfits before committing to their rental purchase. The customer simply has to upload their headshot, and inputs…
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19 July
Looking Sharp: fashion reseller saves £320K in three months with Inventory Planner
Key facts Multichannel footwear and clothing reseller, Sharp Attire – founded in 2015, with a Shopify-powered webstore and significant Amazon presence Uses Inventory Planner to accurately forecast demand for 10,000s SKUs, streamline purchasing across multiple locations and make faster, data-driven decisions that boost the business’ bottom line Impact: 19 DAYS…
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