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- 2023 -23 June
Boohoo sees shareholder unrest over executive pay
Boohoo is facing unrest amongst its shareholders after nearly a third of them voted against its remuneration report at its AGM. It is unclear exactly how much each director was paid last year but 32.5% of shareholders decided against the report. Despite this all directors were reelected with 99% of…
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22 June
Monsoon opens Islington boutique
Fashion retailer Monsoon has opened its latest boutique store, at 290 Upper Street, Islington, N1 2XF. It said the opening comes after the successful launch of boutique locations in Bath, Edinburgh and Cambridge over the last year. It said it comes in line with Monsoon’s strategy to open elevated retail…
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22 June
Elliot Advisors considers £500m deal for Reiss
Private equity firm Elliot Advisors has reportedly expressed interest in acquiring British fashion brand Reiss for £500m from Next and Warburg Pincus, according to Sky News. However, it is unclear on Wednesday whether Elliott would table a formal bid for the clothing retailer and so far, around three parties are…
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21 June
M&Co relaunches website under new ownership
M&Co has launched a new website following its acquisition by AK Retail Holdings earlier this year. The new website features a redesigned platform with a “fresh and modern” design, having undergone a comprehensive transformation to “reinvigorate” its online offering. It displays a first look at the brand’s expanded product range…
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19 June
Fanatics acquires Fexpro to expand business in Latin America
Fanatics, a global digital sports platform and provider of licensed sports merchandise, has completed its acquisition of Fexpro, a leading wholesaler of licensed sports and branded apparel serving Latin America. Headquartered in Panama with a presence across Latin America, Fexpro is a preferred licensee for several major US sports leagues…
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16 June
CEO of Frasers Fashion departs group
The CEO of Frasers Fashion, Greg Pateras, has departed the business this week. Before assuming his role at Frasers, Pateras was previously the CEO of ISawItFirst.com, where he is said to have turned around the loss-making business, and oversaw its eventual sale to Frasers Group. Following Frasers’ acquisition of the…
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15 June
Hugo Boss ups 2025 sales target to €5bn
Luxury fashion giant Hugo Boss has announced it has increased its 2025 sales target to €5bn (£4.2bn) following the success of its ‘Claim 5’ strategy. Hugo Boss revealed it is increasing its sales and earnings targets for 202 after it said the previous medium-term sales target of €4bn (£3.4) should…
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15 June
H&M revenue growth stalls in Q1
H&M Group has revealed a 6% year-on-year rise in revenues to SEK 57.6bn (£4.2bn) for the first 12 weeks ended 31 May, meaning a stall in the fashion retailer’s growth. This comes as the increase in Q1 is only half of the previous quarter’s revenue growth rate. According to the…
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15 June
N Brown Q1 sales hampered by poor weather
N Brown has seen revenues fall by 9.9% to £148.7m in its first quarter of trading, attributed to poor weather at the start of Spring as well as lower consumer confidence over the period. In the quarter ended 3 June 2023, product revenue fell by 11.9% to £93.6m, while Financial…
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14 June
Next in talks over £500m Reiss sale
Next is reportedly in talks over a potential sale of fashion chain Reiss, which it currently controls with a 51% stake, in a deal that could value it at over £500m. According to Sky News, Next, alongside fellow Reiss shareholder Warburg Pincus, have entered talks with bankers regarding an auction…
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