News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Dec- 2024 -18 December
Frasers CEO nominated for Hugo Boss board position
Hugo Boss has confirmed that Frasers CEO Michael Murray has been nominated for election to its supervisory board. Murray has been nominated alongside Andreas Kurali, the former deputy CFO of US tobacco firm Philip Morris International. The two men will be set to replace Gaetano Marzotto and Robin J. Stalker,…
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18 December
Inflation hits eight-month high of 2.6% in November
Inflation has risen for the second month in a row, rising to 2.6% in November, up from 2.3% the previous month, marking the highest level of inflation in eight months. According to the Office for National Statistics, the main drivers behind the rise were fuel and clothing, where prices rose this…
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17 December
Today’s news in brief-17/12/24
Shein’s potential London IPO may challenge regulatory norms as the company reportedly seeks a waiver from the UK’s 10% public float requirement. If successful, it would mark a first for London’s stock market. Shein filed confidentially with the FCA in June but faces delays due to regulatory scrutiny, including concerns…
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17 December
Charlotte Tilbury to upsize flagship Covent Garden store
Makeup, fragrance and skincare brand Charlotte Tilbury is set to open an upsized flagship store in Covent Garden next year, following the success of the destination. Charlotte Tilbury’s renewed commitment to Covent Garden, where it opened its first-ever store in 2015, will relocate from its existing neighbourhood boutique to a…
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17 December
HG appoints Gina Slade as country manager UKI as it continues to clean up across UK & Ireland
Cleaning experts HG International b.v. have announced the appointment of Gina Slade as Country Manager for HG UK & Ireland. In this role, she will assume full responsibility for the subsidiary where the HG brand continues to experience significant growth and popularity, and having solidified its place as the second…
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17 December
BIC acquires Tangle Teezer in €200m deal
BIC has announced its acquisition of haircare company Tangle Teezer in a €200m (£165m) deal . Headquartered in London, Tangle Teezer was first launched in 2007 as “the world’s first expertly designed detangling tool”. The brand has amassed an estimated net sales worth more than €70m (£57m) in 2024, having…
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17 December
Retail loses 225,000 jobs in five years
The retail industry has lost 225,000 jobs in the last five years, according to data from the Office for National Statistics (ONS). On a four-quarter average there were 40,000 less jobs in the industry compared with last year. Overall there were 2.81m jobs in retail in September 2024, although this…
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17 December
Landsec acquires 92% stake in Liverpool ONE
Landsec has acquired a 92% stake in Liverpool ONE from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) (69%) and Grosvenor (23%) for an overall consideration of £490m. Of this total consideration, a payment of £35m to ADIA is deferred for two years. The income return on…
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17 December
Boohoo head office sale halted after investor walks away
Boohoo’s head office sale has been halted due to an Israeli investor walking away from negotiations, according to The Telegraph. The prospective buyer, who was in talks to acquire the retailer’s Soho office for £60m, has pulled out due to concerns raised by a survey. The retailer purchased its six-story…
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17 December
Shein considers listing below 10% rule in London float
Shein is reportedly considering asking UK regulators to waive listing rules that require at least 10% of its shares to be sold to the public ahead of its planned London flotation.According to Reuters, a source said the fast-fashion company was exploring this option to facilitate its IPO. If permitted, it…
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