Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
Retail
Analysis and advice from the front lines of the retail transformation.
WeWork Is Getting Into Workplace Fashion With Rent the Runway
The rental platform is opening a network of clothing drop-off boxes in 15 WeWork locations across the US.
ASOS Annual Profit Rises 28 Percent
The British online retailer maintained guidance for its new financial year and said its potential was 'huge.'
Walmart Expects Fastest US Sales Growth Next Fiscal Year
The retail giant expects some of its fastest sales growth this decade as it draws in more digital customers in its turf war against Amazon.
Sears Files for Bankruptcy Just as Things Are Looking Up for American Retail
The company filed for Chapter 11 protection from creditors early on Monday, listing more than $10 billion in debts and more than $1 billion in assets.
Superdry Plunges After Saying Profit Will Miss by Millions
The UK apparel retailer said unseasonably hot weather and rising foreign exchange costs will shave £10 million off its 2019 profit.
Sports Direct Buys Department Store Frasers
The sportswear group has agreed to buy the freehold of the Glasgow's Frasers department store, which trades as part of the House of Fraser business, for £95 million.
Karen Millen Buys Coast Assets as Fashion Chain Goes out of Business
Twenty-four Coast retail stores were not included in the sale to Karen Millen and would thus result in job cuts.
Is Arielle Charnas the Future of Fashion?
The influencer has turned her 1 million Instagram followers into the beginnings of a fashion empire and a partnership with Nordstrom that drove over $4 million in sales in a single day.
French Connection Reviewing Options, Including Sale of Company
The British fashion retailer is reviewing strategic options, which could include a sale of the company, as it struggles to compete against rivals.
Saks Fifth Avenue Hits Back at Cartier with $55 Million Countersuit
The department store argues that it's justified in moving Cartier to the basement of its New York flagship, and denies ever assuring the fine jewellery brand that it could keep its ground floor boutique.
Mall Brands Are Entering the Rental Market. Can the Model Work?
Retailers including Ann Taylor and Express are testing monthly subscription services as a complement to their sales model. Is the mass consumer ready for the rental model?
New Asian Shoppers Drive Japan’s Travel Retail Boom
Big spenders from Indonesia, Thailand and Vietnam are making their mark on Japan’s travel retail market during peak tourist seasons like ‘hanami’ and ‘koyo’.
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.