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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Feb- 2024 -22 February
Asos appoints new executive VP of digital product
Asos has appointed Anthony Ben Sadoun as the new executive vice president of digital product. According to Drapers, he will join the group’s management committee next week and report directly to CEO José Antonio Ramos Calamonte. In his new role, Ben Sadoun will help drive forward the retailer’s customer experience…
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22 February
Yoox Net-A-Porter launches virtual try-on pilot
Yoox Net-A-Porter has launched its inaugural virtual try-on pilot in a bid to continue to elevate its online shopping experiences. The technology is being rolled out for 90 styles across the Mr P. Permanent collection available on MR PORTER, accounting for 70% of the range. The initiative powers a tailored…
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22 February
LDC and Faire launch pop-up for ethical UK fashion brands
Lone Design Club and online wholesale marketplace, Faire, have launched their first ever collaborative pop-up during London Fashion Month to give exclusive physical selling space to emerging and conscious UK fashion brands. The collaborative space in Covent Garden will be running until Wednesday 28 February, featuring the likes of Arctic…
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22 February
URW secures 12 lease signings for Centrale & Whitgift
Unibail-Rodamco-Westfield (URW) has announced 12 new signings for Centrale and Whitgift including London’s first Loupe store, alongside a number of key renewals including international and British brands Trespass and No.1 Currency Exchange. Loupe, a new venture from Beaverbrooks, the family-owned jewellery business, opened its 5,350 sq ft store as part…
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22 February
Pepco to cease Austrian operations
Pepco Group has announced that it is set to cease its operations in Austria as it does not foresee that the Austrian market will reach the appropriate level of returns expected. The company stated that the exit from the Austrian market will improve the group’s cash flow and underlying profitability…
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22 February
Tomorrow Limited acquires A Cold Wall
Tomorrow Limited, a London-based fashion accelerator, has acquired designer streetwear brand A Cold Wall for an undisclosed sum. A Cold Wall was founded in 2015 by Samuel Ross and Tomorrow Limited made its first minority investment in the label in 2018. While Ross and Stefano Martinetto, co-founder and CEO of…
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22 February
Taxpayers to foot bill for Body Shop redundancies
Taxpayers are set to pay millions of pounds to laid off staff at The Body Shop as the restructuring of the collapsed chain gets underway, The Telegraph has reported. Employees who have lost their jobs have reportedly been told to make claims through the government-backed redundancy payments service, which is…
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22 February
Secret Sales FY23 sales rise 85% amid European expansion
Secret Sales has achieved an 85% rise in sales during 2023, as it continued its strategic expansion, and brand and retailer partnerships. During 2023, the retailer accelerated its European growth by entering Spain and Ireland, as well as extending its global reach to five regions and adding 250 new brands…
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22 February
Sports Direct launches Swiss brand On in selected stores
Sports Direct has announced the launch of On across its key stores including flagships in London, Birmingham, Manchester and its brand new Cardiff location, opening on 23 February. On has gained “significant” industry recognition and consumer popularity in recent years for its innovative technology, performance focused products and sustainable initiatives. …
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21 February
Today’s news in brief
Redwheel, the leading shareholder of Currys, has voiced concerns over the undervaluation of UK stock markets compared to their true potential. The firm warned that the UK’s declining market values, coupled with a shift in investor focus towards the US, could prompt more foreign entities to pursue acquisitions of British…
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