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 -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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16 December
Today’s news in brief-16/12/24
Isak Andic, founder of the global fashion retailer Mango, has died at the age of 71 following a tragic hiking accident in the Montserrat mountains near Barcelona. Spanish media reported that Andic fell down a 150-metre ravine while exploring deep caves in the region. Born in Turkey and later settling…
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16 December
Sports Direct opens new 29,000sq ft store in Westfield White City
Frasers Group has opened its latest Sports Direct’s latest store in London’s Westfield White City Shopping Centre. Complementing Sports Direct’s first flagship, situated on London’s Oxford Street, the retailer’s new White City location aims to bring a “cutting-edge retail experience”. Spanning 29,000 sq. ft across two floors, Sports Direct White…
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16 December
Pour Moi HY sales hit £20m amid M&S partnership
Swimwear and lingerie brand Pour Moi saw its sales rise by 12% to £20m during the six months to 30 September, thanks to its recent partnership with M&S, according to figures seen by The Times. Over the same period, the brand’s profits jumped by 66% to £3m. The brand began…
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16 December
Mango founder dies in mountain accident
Isak Andic, founder of fashion brand Mango, has died in an accident aged 71 while exploring caves in Barcelona. Spanish media reported the 71-year-old fell down a ravine to his death while hiking in caves that are part of a mountain range. Andic reportedly fell down a 150-metre ravine while…
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