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- 2025 -14 February
Steve Madden acquires Kurt Geiger for £289m
Steve Madden has agreed to acquire UK-based Kurt Geiger from a group led by international private equity firm Cinven for an enterprise value of approximately £289m in cash. In addition to Kurt Geiger London, the brand’s portfolio includes KG Kurt Geiger and Carvela. Kurt Geiger also operates footwear concessions within…
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14 February
Space NK founder joins Philip Kingsley as non-exec director
Global hair care brand Philip Kingsley has announced the appointment of Space NK founder, Nicky Kinnaird MBE, to the board as non-executive director effective immediately. Kinnaird, who opened her first beauty retail store in 1993, is a well known entrepreneur who has grown Space NK to over 80 locations across…
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13 February
Today’s news in brief-13/2/25
Fast-fashion giant Shein is relocating some Chinese supplier operations to Vietnam to circumvent U.S. tariffs imposed during the Trump administration, including a 10% levy on Chinese goods and the removal of a $800 de minimis exemption. Incentives for suppliers include procurement price hikes of up to 30%, alongside Vietnam’s lower…
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13 February
Stradivarius to open new store at Metrocentre
Stradivarius has signed to open a new store at Metrocentre, marking the brand’s first location in the North East. Stradivarius will open an almost 10,000 sq ft space in lower Red Mall this summer, just along the mall from Zara. With an extensive range of trend-driven apparel and accessories, the…
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13 February
Shein to look to Vietnam to avoid Trump tariffs
Shein has asked some of its Chinese suppliers to set up production capacity in Vietnam in a bid to bypass tariffs placed on China by the US, according to reports from Bloomberg. The company is offering suppliers incentives including higher procurement prices of as much as 30% to make the…
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13 February
Birkenstock FY turnover rises 25% to £59.8m amid store expansion
Birkenstock has reported that its turnover rose 25.1% to £59.8m in the year ended 30 September 2024, thanks to a rise in UK revenues due to a bricks-and-mortar store expansion. According to the footwear brand, its sales during the period have been “above initial expectations”. This was also attributed to…
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13 February
Bluestar Alliance acquires Palm Angels
Global brand management firm Bluestar Alliance has announced the acquisition of Palm Angels luxury streetwear brand. The acquisition follows Bluestar Alliance’s recent acquisition of Off-White from LVMH, and underscores Bluestar Alliance’s continued expansion into the high-end streetwear and luxury fashion sectors. Born in 2015, Palm Angels has rapidly become a…
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13 February
Economy unexpectedly grows by 0.1% in Q4
Britain’s economy unexpectedly grew in the final quarter of 2024, according to new figures from the Office for National Statistics, easing pressure on chancellor Rachel Reeves.Gross domestic product (GDP) rose by 0.1% in the fourth quarter of 2024, after zero growth the previous quarter, beating forecasts of economists and the…
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13 February
Tesco commits to 1,500 apprenticeships by 2027
Tesco has pledged to expand its Stronger Starts Apprenticeship programme, providing 1,500 apprenticeship opportunities for young people by 2027, following National Apprenticeship Week. The initiative comes as part of Tesco’s ongoing efforts to help tackle the challenge of youth unemployment in England and remove the barriers many young people face…
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12 February
Today’s news in brief-12/2/25
Kering, the luxury conglomerate behind Gucci, Yves Saint Laurent, and Bottega Veneta, reported a challenging fiscal 2024, with revenue falling 12% to €17.2 billion (£14.3 billion) and EBITDA plummeting 29% to €4.6 billion (£3.8 billion). Gucci’s 23% sales decline to €7.65 billion (£6.37 billion) significantly impacted the group, alongside a…
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