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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Mar- 2023 -23 March
Superdry offloads Asia Pacific IP assets in £40m deal
Superdry has announced it has agreed to sell its intellectual property assets in the Asia Pacific region to Cowell Fashion Company in a $50m (£40m) deal. Cowell is an experienced local operator within the APAC region and has been listed on the South Korean stock exchange since April 2015. Cowell’s…
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22 March
Scotch & Soda files for bankruptcy for Dutch operations
Scotch and Soda has filed for bankruptcy for its Dutch operations after a structural cash flow deficit led to a “failure to absorb the negative effects of corona and high inflation”, despite record revenues last year. In a statement published on its Linkedin page, the clothing brand said the courts…
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21 March
New Look places 70 head office roles at risk
Around 70 jobs could be at risk across New Look’s London and Weymouth head offices following a restructure of the group. According to the group, the move is part of a wider review of its operating model and structure, and could impact several departments across both offices. New Look currently…
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20 March
Former Ann Summers boss dies aged 62
British lingerie and sex toy retailer Ann Summers has recently announced the passing of its former chief executive, Jaqueline Gold at age 62. The business was part of her father David Gold’s empire and she joined the team in 1987 at the age of 19. Despite having little business experience,…
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20 March
Sweaty Betty CEO and COO to step down amid takeover
Sweaty Betty has revealed that chief executive Julia Straus and chief operating officer Mark Smith will be stepping down from their roles after the completion of the sportswear brand’s takeover by a new owner, according to Drapers. The news comes as the company was acquired by US lifestyle footwear group…
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17 March
Brunello Cucinelli revenues rise 29.1% to €919.7m
Brunello Cucinelli has reported that its 2022 revenues increased to €919.7m (£807.2m), marking a 29.1% rise over 2021, according to its FY results for the period ending 31 December 2022. It said that its two retail and wholesale channels, which increased sales by 62% and 38% respectively, were cited as…
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17 March
Mango invests in party clothing rental start-up La Más Mona
Mango has announced that its StartUp Studio will be investing in party dress and accessories rental platform, La Más Mona by offering financial support to the company through a convertible participation loan. The retailer’s investment in the rental platform represents its entry into an ‘acceleration’ programme through which the entrepreneurs…
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16 March
Strikes cause 11.1% decrease in retail footfall, reports Springboard
Footfall declined 11% yesterday as a result of the UK-wide strike action, according to a new report by MRI Springboard. Springboard said that this decline is even “more significant” than usual as it comes on the back of reduced footfall last Wednesday (8 March 2023), when customer activity declined by…
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15 March
H&M Q1 net sales up 12%
H&M has announced that its net sales for the period between 1 December 2022 and 28 February 2023 rose 12% to SEK 5.4bn (£423.7m), compared with last year. In local currencies its net sales increased by 3% and excluding Russia, Belarus and Ukraine the increase was 16%in SEK and 7%…
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15 March
Burberry appoints new chief financial officer
Burberry has announced the appointment of Kate Ferry as chief financial officer and executive director. By early September 2023, Ferry will replace Julie Brown – who after working for Burberry for more than six years will depart the company on 1 April 2023. In her new role, Ferry will have…
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