Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
After the retail empire’s initial takeover bid failed, the company raised its holding to 50.08 percent in a move that will turn the German apparel brand into a subsidiary of Frasers.
Retail
Analysis and advice from the front lines of the retail transformation.
J.C. Penney Pulls Plug on Clothing Subscription Service
The subscription service, introduced in December 2017 in partnership with Bombfell, works in a similar way to Stitch Fix.
J.Crew Taps Chris Benz as Head of Women's Design
Benz started his career at the specialty retailer in 2005.
Farfetch Soars After Pact to Help Harrods Woo Online Shoppers
The online retailer announced a strategic partnership with Harrods to provide the department store with a global e-commerce platform.
Macy's Shares Rise as Investors Applaud Plan to Streamline Business
While the company said it can achieve growth in comparable-store sales, it won’t come immediately.
How Vans Keeps Its Cool
The skate shoe brand is 15 years into a sales boom and competes head to head with Nike and Adidas. Now parent company, VF Corp., is betting the same formula can help it transform from a collection of musty department-store labels into a retail empire.
Primark Owner AB Foods Forecasts Flat First-Half Earnings
The group said it expected a small reduction in adjusted operating profit offset by lower net financial expenses.
Dover Street Market Dips Toe in Paris
The Comme des Garçons-owned retailer will open its first dedicated beauty concept in a 2,150-square-foot space in the French capital later this spring.
Web Retailers Should Pay Higher Taxes to Save UK Shops
To help soften the blow to physical stores as consumers shift to internet shopping, internet giants such as Amazon, Asos and Boohoo Group should pay higher UK taxes, according to a government report.
Woolworths CEO Under Pressure as David Jones Struggles
Two Australian non-executive directors resigned from David Jones last week, hot on the heels of CEO David Thomas, the third head of that business to leave in five years.
Mall Operator Intu Shares Slump Amid Retail Shakeout
The British shopping centre operator, the target of two failed takeover bids last year by Hammerson and some of its biggest shareholders, blamed persistent declines in sales from physical stores and a rash of company failures in the sector.
Inditex Launches Netflix-Partnered Brand Pull & Bear in US
In parallel with its rollout in the US, Pull & Bear is marketing a limited edition of T-shirts themed to the hit Netflix show “Stranger Things,” ahead of the series’ third season.
Luxury Rental Service Armarium Comes to Le Bon Marché
The partnership is evidence of growing interest in the luxury rentals market.
THE NEWS IN BRIEF
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.
EBay Will Lay Off 9% of Workforce
The online marketplace is looking to simplify operations and shift resources to its fastest-growing areas, Reuters reported.
Vinted Faces Influx of Suspected Looted Goods After French Riots
The company has ‘taken immediate action to identify and remove listings linked to the looting,’ and has ‘stepped up monitoring of suspicious listings,’ a Vinted spokesperson said in a statement. ‘When our rules are breached, we act against the accounts involved, up to permanent bans.’
Zara Billionaire Owner Ortega Buys $550 Million Chicago Tower
Pontegadea Inversiones SL acquired the 51-story One North Wacker in the city’s business district in one of the biggest US office deals this year.
Joe Corré’s Light House Club Launches Pop-Up Spaces for Emerging Designers
Independent creatives can apply to utilise pop-up spaces at Light House to sell merchandise and meet with clientele.