Knoops: Boss reveals plans to become £4bn global giant Business The boss of Knoops has outlined his plans to the grow drinking chocolate chain into a $5bn (£3.9bn) giant with at least 3,000 stores across the world. William Gordon-Harris, who is both the chairman and chief executive of the London-headquartered business, said his revenue target is “readily achievable” when each of its hoped-for stores hit [...]
Selfridges sinks further into the red as sales at luxury department store falter Retail Luxury department store chain Selfridges has lost more than £400m since it last made a pre-tax profit, it has been revealed. The business, which has UK stores in London, Birmingham and two in Manchester, passed the milestone after falling to a £41.9m loss in the year to 3 February, 2024. It comes after Selfridges previously [...]
Selfridges: Saudi Arabia’s PIF invests in department store group Retail Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
Wedgwood owner slumps to loss despite strong Harrods and Selfridges sales October 7, 2024 The owner of historic fine china and porcelain brand Wedgwood has slumped into the red despite strong sales through Harrods and Selfridges. Fiskars UK, which is based in Stoke-on-Trent, is also behind the Waterford, Royal Doulton and Royal Albert brands. Newly-filed accounts with Companies House have revealed that the business fell to a pre-tax loss [...]
Asos to cut 200 jobs at head office as it battles cheaper fast fashion rivals September 25, 2024 Asos is planning to chop 200 roles from its head office as it looks to restructure its business in the face of mounting difficulties post-pandemic due to intense competition from cheaper rivals, according to reports. Asos said that current set-up was “no longer suitable for today’s business priorities and context… We need to move faster [...]
Bulgari: ‘Stagnant UK economy and the lack of tourists’ force luxury brand into the red September 25, 2024 An uptick in the sale of high-end jewellery and watches failed to stop the UK arm of Bulgari falling into the red during its latest financial year. The London-headquartered division, which is part of the LVMH Group, said that while its overall turnover declined in 2023, it still expects the sale of jewellery and watches [...]
Sosandar pushes ahead with brick-and-mortar expansion as new flagship store revealed September 19, 2024 UK fashion brand Sosandar has announced its expansion into in-store retail with historic Irish department store Arnotts, in a bid the company hopes will allow it to connect better with its customers. The London-listed company, which is headquartered in Cheshire, said the decision to base its flagship store in the Dublin department store had been [...]
Is the party for fashion rental over? September 19, 2024 Fashion rental was once touted as the industry's next big thing, but has the lustre faded, asks Anna Moloney.
Knoops: Drinking chocolate chain eyes £5m boost after more than doubling sales September 17, 2024 Knoops is looking to raise an extra £5m to fuel its continued expansion in the aftermath of its revenue more than doubling during its latest financial year. The London-headquartered drinking chocolate chain has reported a revenue of £9.3m for the year to 31 March, 2024, up from the £4.4m it posted for the prior 12 [...]
Oxford Street: Sadiq Khan plans to pedestrianise iconic retail centre September 17, 2024 Sadiq Khan has announced plans to pedestrianise Oxford Street in a bid to reinvigorate the nation’s “most famous high street” and attract more shoppers. The mayor of London has announced the proposals to turn the road into a traffic-free avenue, alongside a wider regeneration of the shopping destination. Pedestrianisation plans would be delivered via the [...]