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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Oct- 2024 -7 October
Footasylum secures £35m funding package for expansion
Footasylum is set to accelerate its growth plans across the UK and beyond after securing a £35m revolving credit facility (RCF) from HSBC UK. Footasylum was acquired by Aurelius, a global alternative investor, in August 2022. Since then, the company has embarked on a strategic store opening and upsizing programme,…
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7 October
Yoox Net-A-Porter to be acquired by Mytheresa in €555m deal
Mytheresa has signed a deal to acquire Yoox Net-A-Porter (YNAP) from Richemont for €555m (£464m).Following the deal, Richemont will acquire a 33% stake in Mytheresa, while Mytheresa will acquire 100% of the share capital of YNAP. Richemont will also provide a six-year revolving credit facility of €100m (£84m) to help…
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4 October
Today’s news in brief-4/10/24
Shein is moving ahead with plans for a highly anticipated London IPO, reportedly set to hold informal talks with investors across Europe. According to sources, Shein’s roadshows aim to assess investor interest ahead of regulatory approval from both UK and Chinese authorities. Having confidentially filed for a £50bn float in…
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4 October
Co-op to install solar panels on 700 sites
Co-op has announced its ambitions to install solar panels on a target of up to 700 sites across its food, funeralcare and logistic portfolio across the UK over the next three years. As part of its journey to increase the amount of renewable power that it directly procures, Co-op is…
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4 October
Frasers increases Mulberry stake after failed takeover bid
Mike Ashley’s Frasers Group has acquired more shares in Mulberry just days after it had a takeover bid for the company rejected. Frasers subscribed for 4.0 million shares at the 100p per share fundraising price, through clawback provisions available to major shareholders. Before this Frasers held 22.1 million shares in…
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4 October
M&S Clothing & Home MD joins Refined Networks as NED
M&S Clothing and Home managing director Richard Price has been appointed as a non-executive director at Refined Networks, the global platform for cross-border digital commerce. The non-executive appointment comes at a time of rapid expansion for Refined Networks. Since 2021, the company has partnered with over 40 international fashion brands…
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4 October
UK footfall jumps 3.3% in September
UK footfall has risen by 3.3% in September, up from 0.4% in August, as shopper numbers return to increase for the first time in over a year. According to the BRC, retail parks enjoyed the biggest boost with a 7.3% increase during the month, up from 2.6% in August. Shopping…
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4 October
Virgin Wines strikes partnership with Ocado
Virgin Wines has announced that it has agreed a strategic partnership with Ocado.com, commencing from this week, which will give the online supermarket’s customers access to an exclusive selection of 50 wines from Virgin’s portfolio. Previously available only to Virgin Wines customers and sold as part of multi-bottle cases, this…
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4 October
Shein to hold informal talks with investors ahead of possible London float
Shein is reportedly set to hold informal talks with potential investors in the coming weeks regarding its much anticipated London initial public offering (IPO), according to Reuters.Three sources with knowledge of the matter said the discussions will be held as the fast fashion giant awaits UK regulatory approval to launch…
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4 October
Watches of Switzerland acquires Hodinkee
The Watches of Switzerland Group has announced the acquisition of Hodinkee, a US digital content provider for watch enthusiasts. With a history of stewarding brands, the Watches of Switzerland Group aims to utilise its leadership role in the industry to further Hodinkee’s mission in sharing “engaging, educational and entertaining” watch…
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