Prada has recently opened a new store on the Gold Coast in Australia at Pacific Fair. The store covers 310 square metre and features apparel, leather goods, accessories and footwear for men and women. The store comprises a succession of rooms, each featuring a different atmosphere.
Sir Philip Green has been in secret negotiations this week with the Pensions Regulator about plugging BHS’s £571m pension shortfall, Frank Field, chair of the Work and Pensions select committee has revealed. The Topshop tycoon had promised publicly to “sort” the retailer’s pension deficit in a testy evidence session in Westminster two weeks ago, after... Continue Reading →
Swedish fashion house H&M is showing no signs of slowing its Australian expansion, declaring plans to reach out to regional areas through the addition of two more stores. The group already has nine in operation on the east coast and one in Western Australia just two years after launching with much fanfare in Melbourne. It... Continue Reading →
Tesco (Xetra: 852647 - news) has announced it plans to sell coffee chain Harris (Stuttgart: HRS.SG - news) and Hoole to Caffe Nero - as boss Dave Lewis said he was encouraged by progress across the wider business. It (Other OTC: ITGL - news) follows the recently announced disposals of garden centre chain Dobbies ,... Continue Reading →
Max Mara Group has added to its portfolio by launching two new brands with a contemporary, accessible positioning: Tresophie and AIIM will be available with the Spring 2017 season and will be initially distributed via physical and online multi-brand stores, then via their own e-stores from the end of 2017. Through Tresophie, the Italian group... Continue Reading →
Greenpeace SA has accused retail giant Pick and Pay of failing to comply with its clean energy programme launched three months ago. The programme calls on businesses to commit to 100% renewable energy and stop using fossil fuels. Activists have staged a protest outside the company's headquarters in Cape Town. Greenpeace says Pick 'n... Continue Reading →
Chanel has recently opened its first boutique on the Gold Coast (Australia) in the newly renovated Pacific Fair shopping centre on Broadbeach. The store, which is dedicated to beauty and fragrance, is the first in Australia to debut a brand new burgundy interior, with design for the boutique drawing inspiration from the colour palette of... Continue Reading →
Ralph Lauren has always been associated with luxury and privilege and it's polo player logo has been synonymous with dressing elites around the world. Since the American-based fashion giant announced earlier this month it was to close a significant amount of stores and let go of 1,000 employees there have been plenty of questions as... Continue Reading →
Japanese specialty apparel retailer Uniqlo is expanding its U.S. presence into the Southeast, and is also expanding its relationship with Disney. The company will open a two-level, 25,000-sq.-ft. store on July 15 in Disney Springs at Walt Disney World Resort in Lake Buena Vista, Florida. It will be Uniqlo’s first location in the Southeast. The... Continue Reading →
Former Morrisons chain My Local has shut nearly 90 stores over the past few days. The high street has been hit by fresh wave of job cuts as more than 1,200 shop workers were let go by convenience chain My Local and another 1000 faced uncertainty after fashion chain Store Twenty One said it was... Continue Reading →
Al-Futtaim, a Dubai-based conglomerate, has signed a partnership agreement with French fashion house ba&sh to introduce the luxury brand to the Middle East. The first of the planned 10 ba&sh stores will open in Dubai's City Walk in the fourth quarter of 2016, it said in a statement. Paul Delaoutre, president Al Futtaim Retail said:... Continue Reading →
Retailer has appointed KPMG to draw up options that will enable the company to drastically reduce its 170-strong store estate The owners of BHS are planning a radical overhaul of the struggling high street chain that is expected to trigger significant store closures, the restructuring of its massive pension scheme and further job losses. The... Continue Reading →
Cosmetics maker Revlon Inc (REV.N) has agreed to buy Elizabeth Arden Inc (RDEN.O) in an $870 million deal to strengthen its skincare and fragrance business and expand in high-growth markets including the Asia-Pacific region. Elizabeth Arden's shares rose nearly 50 percent to $13.96 in extended trading on Thursday, close to the cash offer price of... Continue Reading →
Tesco has sold its garden centre chain Dobbies for £217m as the retailer continues with its strategy of focusing on its supermarket business. Dobbies has been sold to a group of investors led by Midlothian Capital Partners and Hattington Capital. The sale comes a week after Tesco announced the sale of UK restaurant chain... Continue Reading →
JOHANNESBURG/LONDON: South Africa's Steinhoff International Holdings NV has bought 23% of Poundland Group Plc and is considering a full cash bid for the British no-frills homeware chain in its latest attempt to expand in Europe. Steinhoff, a $22 billion furniture conglomerate which has lost out in two high profile takeover battles already this year, said... Continue Reading →
Italian luxury brand Golden Goose has opened its first store in the U.K., located on Dover Street in London’s Mayfair.Spanning two floors, the 950-sq.-ft. space stocks the brand’s women’s and children’s collections, as well as the men’s wear range, Haus by Golden Goose. The space has a minimalist decor that showcases the brand’s colorful pieces,... Continue Reading →
Wal-Mart Stores, Inc. (NYSE: WMT) has replaced its U.K. Asda chain head Andy Clarke with Sean Clarke, who was leading the China unit, the company announced Monday. Management Changes Sean Clarke, who started his retail career in the U.K. at Asda back in 1996, will take over Andy Clarke's position on July 11. S. Clarke's... Continue Reading →
TFG has set itself stiff targets for growth in the five years to March 2021. The retailer is looking to increase sales by 85% to R39bn, to lift operating margin from 17% to as high as 19% and return on equity from 23.9% to 28%-30%. If TFG achieves its 2021 sales target and a margin... Continue Reading →
Google has overtaken Apple to become the “most valuable global brand” this year, according to brand consultancy Millward Brown’s annual BrandZ rankings. Just like last year, technology brands dominated the top 10. These are the top 10 most valuable brands in the world and an analysis of what happened over the last 12 months to... Continue Reading →
British fashion house Burberry has announced the resignation of its Chief Operating Officer John Smith after serving seven years at company. Smith will leave Burberry and depart from the board by summer 2017. The announcement comes as the luxury brand faces pressures to strengthen its senior management team amid poor trading figures. Investors have voiced... Continue Reading →
CHANEL has opened a large ground-level boutique inside of Vancouver’s Holt Renfrew at CF Pacific Centre, replacing a previous location on the women’s upper-level designer floor. Although a shop-in-shop, Vancouver’s new Chanel concession is now Canada’s second-largest location, featuring the country’s first Chanel fine jewellery and watch boutique. The boutique also features ready-to-wear, handbags, shoes,... Continue Reading →
RETAILER Clicks will takeover managing private hospital group Netcare’s 37 Medicross branded retail pharmacies and its 51 hospital "front shops", the two JSE-listed groups said in a joint-statement on Wednesday. The agreement excludes the dispensing of prescriptions in the Netcare Hospital pharmacies, which remain within Netcare’s hospital operations. Specific employees involved in these areas of... Continue Reading →
The tycoon who owns the Harry Ramsden's restaurants will add to his portfolio of casual dining chains this week by snapping up Giraffe from the UK's biggest retailer. Sky News understands that Boparan Ventures, the private investment vehicle of Ranjit Boparan, a wealthy entrepreneur, is the mystery buyer who has agreed to acquire Giraffe from... Continue Reading →
Designer Ralph Lauren, right, poses in his office with Stefan Larsson, global brand president for Old Navy, Tuesday, Sept. 29, 2015, in New York. Lauren is stepping down as CEO of the fashion and home decor empire that he founded nearly 50 years ago, and Larsson, who has been the global president of Old Navy... Continue Reading →
Sold: Radley started out as a stall selling handbags at Camden market Sold: Radley started out as a stall selling handbags at Camden market It started out as a stall selling handbags at Camden market but yesterday luxury label Radley was sold to the billionaire owners of retail chain C&A. Famous for its West- Highland... Continue Reading →
Wishing all our readers a blessed Ramadan Kareem
Most of the Dh30 billion of investments in the UAE announced yesterday by Majid Al Futtaim is likely to be in place by the time Dubai’s Expo 2020 takes place, says the company’s chief executive, Alain Bejjani. The Dubai-based group revealed plans to open 10 new City Centre malls, six hotels, 28 cinemas, 40 Carrefour... Continue Reading →
The demise of BHS means that the taxpayer will have to foot the bill for the redundancy payments Additionally, the demise of BHS means that the taxpayer will have to foot the bill for the redundancy payments of thousands of its staff. The department store chain employed 11,000 and is the biggest high-street casualty since... Continue Reading →
Johannesburg - Mr Price said yesterday that its sales exceeded R20 billion and earnings exceeded R10 a share for the first time since the group’s inception. Chief executive Stuart Bird said the figure represented an important milestone for the company. “We are very satisfied with these results, particularly after considering the headwinds that we confronted... Continue Reading →
LONDON: British department store chain BHS is to close with the loss of up to 11,000 jobs, administrators said Thursday after failing to find a buyer. BHS, which sells clothing, food and homeware, has failed to keep pace with traditional rivals such as Marks & Spencer and online giants like Amazon, resulting in a major... Continue Reading →
Dominic Chappell, the owner of BHS at the time it fell into administration, has blamed former owner Sir Philip Green for the retail chain’s demise. Chappell said Green had failed to deliver on a pledge to ensure the backing of credit insurers and had not left sufficient cash in the business. “Philip Green never stood... Continue Reading →
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