Asos new CEO vows to rebuild ‘inefficient’ model as fashion seller posts £32m loss October 19, 2022 The new CEO of Asos has said he will refresh the fashion marketplace’s commercial model after the online retailer swung to a loss. In results for the year to 31 August 2022, Asos said gross margins had been impacted by a supply chain “inefficient in the face of supply chain disruption and macroeconomic challenges”. After [...]
Philip Green’s wife Tina paid £50m by Topshop administrators July 7, 2021 Tina Green, the wife of former retail tycoon Philip Green, received £50m in May from Topshop’s administration. The £50m was lent to Topshop as part of an emergency restructuring in 2019 and secured against a warehouse in Northamptonshire. In the wake of the collapse of parent company Arcadia, the space was sold for £83m, the [...]
Gymshark ‘aggressively’ pitched by banks as London IPO is on the cards October 12, 2021 Athleisure business Gymshark has started to put together plans for a stock market listing. The brand has been holding preliminary talks with institutional investors and investment banks about a flotation, Sky News has reported. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was [...]
Mark Kleinman dissects the CBI’s rescue plan – plus the boss of Vashi’s vanishing act and Man U’s other battle June 1, 2023 In five days time, Rain Newton-Smith must deliver the performance of her career. At an extraordinary general meeting of the CBI, she will seek to convince thousands of its members that it should survive the maelstrom which has brought it to the brink of collapse. The cards appear stacked against her. Already, the CBI’s principal [...]
Oxford Nanopore soars on London debut, touching £5bn September 30, 2021 Shares in genome sequencing company Oxford Nanopore rocketed as much as 45 per cent this morning after its IPO, in the best-ever London market debut for a company of its size. Oxford Nanopore shares were trading at 619p per share at market open, pushing its market cap up to £4.93bn – significantly higher than the [...]
Activewear brand TALA raises £4.2m as it woos shoppers fed up with fast fashion February 2, 2022 Gen Z-orientated sustainable activewear brand TALA has raised £4.2m in funding with Active Partners and Venrex. Founded by social media influencer Grave Beverley, TALA aims to offer consciousness gym goers an affordable alternative to fast fashion rivals. Participants in the oversubscribed round included venture capital trust Pembroke VCT, as well as angel investors including Deciem [...]
International growth boosts Boohoo profit September 25, 2019 Boohoo revenue and profit soared in the first half of the year driven by strong international growth at the fast fashion brand. The figures Revenue soared 43 per cent from £395.3m in the first half of 2018 to £564.9m in the first six months of this year. The company’s revenue was more than £1bn over [...]
Debate: Will digital retailers continue to hoover up high street chains? January 27, 2021 Boohoo’s purchase of the Debenhams brand, and Asos’ pursuit of Topshop, suggests that the online revolution has very much succeeded. But is it that simple? Vicky Bullen, CEO, Coley Porter Bell says YES You don’t have to be Mike Ashley to spot the enormous opportunity in online retail since the coronavirus pandemic hit. Never before [...]
In The Style’s AIM listing to value influencer fashion brand at £105m March 10, 2021 Online fast fashion retailer In The Style today raised £11m ahead of its listing on London Stock Exchange’s growth market, valuing the firm at £105m. The firm also raised £49m for the selling shareholders through the share placing, ahead of its admission to AIM on Monday. In The Style was launched in Manchester – like [...]
AIM dominates European growth markets contributing half of 2021 funding February 21, 2022 The UK's Alternative Investments Marketplace (AIM) dominated junior European markets in 2021, accounting for half of all fundraising.