Author: Dave Antrobus
Shein is preparing to confidentially file for a London IPO, marking a significant move for the fast-fashion etailer.The IPO could value Shein at approximately £50bn, becoming one of the largest deals on the London Stock Exchange in recent years.A prospectus is being prepared for submission to the Financial Conduct Authority, with filing expected soon.Conversations have occurred with UK officials, including UK chancellor Jeremy Hunt and former chancellor Sajid Javid, regarding the IPO.Shein’s financial performance in 2023 reflects strong growth, with substantial profits and gross merchandise value increases.Shein is set to confidentially file for an initial public offering (IPO) in London,…
The British Retail Consortium (BRC) is urging political parties to reform business rates and planning laws.UK footfall fell by 3.6% in May, with shopping centres seeing the most significant decline.High Street and retail parks also experienced decreased footfall, highlighting a nationwide trend.BRC CEO Helen Dickinson stresses the need for government action as the election nears.Retail experts are scrutinising political policies that may impact industry recovery.In May, the British Retail Consortium (BRC) reported a 3.6% year-on-year decrease in UK footfall, based on BRC-Sensormatic IQ figures. Shopping centres were hardest hit with a 4.5% decline, while high streets saw a 2.7% drop,…
Womenswear brand Phase Eight has significantly increased its retail footprint in Dartford’s Bluewater shopping centre.The new store is now 336% larger, spanning 2,499 sq ft, compared to its previous unit.This expansion allows for a more extensive display of collections, including ready to wear, petite, childrenswear, bridal, and Collection 8.Phase Eight’s retail strategy is focused on growth, with plans to open more stores in key locations like Bury St Edmunds, Dublin, Glasgow, and Hamburg.Bluewater’s centre director noted Phase Eight’s long-standing presence and the excitement for their expanded offerings.Phase Eight, a well-regarded womenswear brand, has unveiled a substantially larger store in Dartford’s…
Primark expands its reach into a 17th market with a new store in Budapest, Hungary, marking a significant milestone.The store in Budapest’s Arena Mall covers 33,900 sq ft and has created over 180 jobs.Primark’s investment in the Hungarian store exceeds €8m (£6.8m), reflecting its strategic expansion in Europe.Plans are in place to open three more stores in Central and Eastern Europe this year.Primark aims to grow its global presence to 530 stores by 2026, from its current 440 stores.Primark has made a strategic move by inaugurating its first store in Hungary, a venture that marks the retailer’s entry into its…
Shoe Zone experienced a modest revenue increase despite challenges.Group revenue rose 1.5% to £76.5m in six months.Digital sales surged by 19.6%, reaching £17.1m.Physical store sales dropped by 2.8%, now £59.4m.Adjusted profit before tax held steady at £2.5m.Between October 2023 and March 2024, Shoe Zone reported a slight revenue increase of 1.5%, bringing the total to £76.5 million compared to the previous year’s £75.4 million. Nevertheless, the company’s profits before tax remained steady at £2.5 million, as the retailer navigated increased expenses due to the rise in the National Living Wage, ongoing shipping disruptions, and strategic changes to its store locations.A…
British Land has announced the sale of its 50% stake in Meadowhall shopping centre, positioning it to focus on retail parks.The transaction with Norges Bank Investment Management was valued at £360m, reflecting a 3% increase from its 2023 valuation.British Land plans to use the net proceeds of £156m for corporate purposes, including reinvestment in retail parks.The sale will have a negligible impact on British Land’s 2025 balance sheet, as indicated in their statement.British Land will retain its role as asset manager for Meadowhall, continuing its successful partnership with Norges.British Land, a major property developer, has announced its decision to sell…
Shein, a fast-fashion retailer, is seeking former UK Chancellor Sajid Javid for a strategic role in its planned London IPO.Shein seeks leadership from Sajid Javid amid its London Stock Exchange debut plans, pivoting from US regulatory issues.Discussions involve Shein’s executive chairman and several senior figures, including Javid, for potential board positions or advisory roles.Baroness Fairhead is also being considered by headhunters for Shein’s strategic positions as it aims for a significant stock market debut.A London IPO could value Shein at over £50 billion, marking it as one of the largest in UK history.Fast-fashion giant Shein is in talks with former…
The fashion brand, In The Style, has been sold to Baaj Capital for £1.2 million.Following the sale, Adam Frisby, founder of In The Style, has stepped down from the board.Several non-executive directors also resigned, leaving a newly formed board.Shareholders approved the sale with a narrow margin in voting results.The company plans to rebrand as Itsum plc, reflecting its new status.The prominent fashion brand, In The Style, has completed its sale to the UK-based private equity firm, Baaj Capital, in a transaction valued at £1.2 million. This strategic decision comes amid financial challenges that the company faced in the previous fiscal…
Tesla has achieved a remarkable feat in the UK automotive market, securing the second spot in new car sales for 2021. This success highlights the growing demand for electric vehicles amidst a challenging economic landscape.Amidst a global microchip shortage, the UK automotive sector saw a shift towards electrified vehicles, with Tesla leading the charge. The Model 3 played a pivotal role in strengthening Tesla’s position, becoming a top choice in company fleets due to attractive tax incentives.Tesla’s Remarkable Climb in a Disrupted MarketThe UK automotive market faced significant challenges due to a global shortage of microchips. Despite these obstacles, Tesla…