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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Oct- 2022 -27 October
Inditex agrees sale of Russian business
Zara parent company Inditex has reached an agreement for the sale of its business operations within Russia to Daher Group. The news of the company terminating its retail business in Russia comes after Inditex paused its sales within the region on 5 March earlier this year. It is reported that…
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26 October
Burlington Arcade unveils three jewellers among new brands
Burlington Arcade has announced that it has signed 12 new brands, including 3 new jewellers , bringing the total number of tenants to 47. Jewellery designer Lily Gabriella will launch her first ever showroom within the Penthouse above the Piccadilly entrance, opening in November; 886 Jewellery – The Royal Mint…
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26 October
Adidas and Gap end ties with Kanye West amid anti-semitic rant
Adidas has ended its working partnership with rapper Kanye West, saying it “does not tolerate antisemitism”, after West published offensive posts on his Instagram and Twitter accounts. The German footwear brand will end production of items under West’s Yeezy brand, as well as stop all payments to the musician and…
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24 October
Frasers acquires stake in Asos
Mike Ashley’s Frasers Group has reportedly snapped up a stake in embattled online retailer Asos. Frasers notified Asos it had become a “significant” shareholder late on Friday of last week (21 October). It is believed the move will make Frasers the fourth biggest shareholder at around 5% but still significantly…
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19 October
Asos profits plunge 105% as group outlines turnaround strategy
Asos has seen its profits plummet 105% to a loss of £9.8m in its latest full-year results, down from profits of £190.1m, as customers reigned in their spending amid the cost of living crisis. The group noted consumer behaviour underwent a “marked change” from April 2022 when consumers faced accelerating…
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17 October
JD Sports increases stake in Deporvillage to 98%
JD Sports has announced the acquisition of an additional 18% holdings in the shares in sports equipment retailer, Deporvillage SL, for €19.8m (£17.1m). The sale was conducted by Iberian Sports Retail Group, JD’s Spanish holding company, from Xavier Pladellorens and Àngel Corcuera (co-founders). Following the transaction, ISRG now owns…
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14 October
Mango to open three new UK stores
Mango, the European fashion group, is accelerating its expansion in the UK with the opening of three new stores this autumn to bring the total to almost 50 by 2022, combining its physical presence in shopping centres with standalone stores and corners in department stores. After opening in September at…
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12 October
Frasers acquires minority stake in N Brown
Frasers Group has revealed it has acquired a 4.54% stake in fashion retailer N Brown, according to the latest holding documents filed by the company. The pureplay retailer’s brands include Jacamo, Simply Be and JD Williams and was founded in 1859 in Manchester – where its headquarters remain to this…
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10 October
Joules says CVA is a ‘potential option’ amid turnaround plan
Joules has announced that a Company Voluntary Arrangement (CVA) is one of other “potential options” as the retailer develops its turnaround plan to drive higher profitability. The company said it is making “good progress” in the plan, and that it continues to assess its ongoing financing requirements, including a possible…
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10 October
Quiz revenues rocket 37% as demand soars
Quiz revenues have soared by 37.2% in the last six months, hitting £49.4m in results that were ahead of its previous expectations. Between 1 April and 30 September, revenues were £13.4m higher than the prior year, reportedly reflecting the brand’s appeal and reputation for dressy and occasion wear, with demand…
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