Mike Ashley’s Sports Direct bags stake in designer brand Mulberry February 3, 2020 Sports Direct owner Mike Ashley has snapped up a stake in British luxury handbag company Mulberry, as the billionaire businessman seeks to rebrand his company as a premium retailer. Sports Direct, which has recently been rebranded as Frasers Group, has taken a 12.5 per cent stake in the designer brand. The deal signals a further [...]
Mulberry losses widen in ‘promotion led’ UK high street November 13, 2019 Luxury handbag retailer Mulberry widened its losses in the first half of the year as it struggled in the UK’s “increasingly promotion led” market. The company reported a loss before tax of £9.9m compared to a loss of £8.2m the previous year, reflecting the retailer’s British high street woes and its increased investment in Asia [...]
London’s New Bond Street has the most expensive retail rents in Europe November 13, 2019 London’s New Bond Street is the most expensive shopping street in Europe for retailers to rent store space. The street in the West End is more expensive than the Avenue de Elysees in Paris and shopping destinations in Milan, Zurich, Vienna and Munich. Read more: London falls on list of best cities for living and [...]
To Infinity and beyond: Ted Baker seals deal to expand into Japan August 28, 2019 Ted Baker has inked a deal to sell its goods to Japanese department stores from October, telling investors it should offer an instant, if marginal, bump to its bottom line. Read more: Ted Baker finance boss bags new role at Mulberry The tie-up sees the retailer appoint Sojitz Infinity as its Japanese retail licence partner [...]
Ted Baker finance boss bags Mulberry role August 22, 2019 Ted Baker’s finance boss Charles Anderson has quit after 17 years to join luxury bag brand Mulberry. Anderson will join Mulberry’s board as group finance director in early October, replacing Neil Ritchie who stepped down on 30 June. During his time at Ted Baker, Anderson played an active role in its international expansion and systems [...]
Oxford Street discounts signal a troubling start to the summer for retailers June 25, 2019 The crucial summer selling season is finally upon us, but for retailers on London’s most celebrated high street, all is not well. Big red discounts in shop windows line the parade on Oxford Street, where many of the country’s flagship fashion stores are offering major price reductions in a desperate bid to boost their sales. [...]
Mulberry swings to loss on tough UK retail market and House of Fraser collapse June 19, 2019 Luxury handbag maker Mulberry swung to a loss of £5m last year as the “challenging” UK retail market and the collapse of House of Fraser hit sales. The figures Mulberry reported a pre-tax loss of £5m for the year ending 30 March, down from £6.9m profit the previous year. Read more: Mulberry widens losses after [...]
Mulberry finance boss heads for the exit March 19, 2019 Mulberry has announced the resignation of its finance chief this morning, who is departing the luxury fashion house months after it posted widening losses and suffered a sharp drop in its share price. Neil Ritchie, who took over the post as group finance director just three years ago, will step down from his role at [...]
Wall Street shares plummet after Apple warning over China slowdown January 3, 2019 Wall Street shares have plummeted in response to Apple’s warning over a slowdown in China. All three major US indices tumbled on opening as Apple’s nine per cent fall caused another painful day for investors. The tech giant said lower demand for its products in China and the country’s economic deceleration were to blame for [...]
Luxury retailers hit by Apple warning over Chinese slowdown January 3, 2019 Shares in luxury retailers have plunged after Apple blamed a Chinese economic slowdown for its worse than expected sales performance. The tech giant said lower demand for its products in China and the country’s economic deceleration were to blame for its second revenue warning last night. Luxury retailers have subsequently suffered as analysts said investors [...]