Author: Sam Allcock

Authentic Brands Group (ABG) has announced an agreement to acquire Champion’s intellectual property for $1.2bn (£940m).This deal, involving ABG and HanesBrands, may rise to $1.5bn (£1.2bn) with contingent conditions.Jamie Salter of ABG plans to transform Champion into a licensed model through collaborative operations.The acquisition aligns with ABG’s strategy to enhance its sports and entertainment licensing portfolio.Completion of this acquisition is anticipated by late 2024, pending regulatory clearance.Authentic Brands Group (ABG) has reached a significant milestone by securing an agreement to purchase the intellectual property and specific operational assets of the renowned sportswear brand Champion for a substantial $1.2 billion (£940…

Vestiaire Collective collaborates with Sojo to enhance customer experience through expert tailoring and sustainable delivery services.Customers of Vestiaire Collective gain access to Sojo’s skilled tailors, offering bespoke adjustments to pre-loved garments.Sizing issues, a significant return factor for Vestiaire Collective, will be addressed through this strategic partnership.Sellers can increase the value of their items by utilising the repair services before listing them for sale.The collaboration highlights the shared commitment of both companies to environmentally friendly practices.Vestiaire Collective, a renowned luxury resale platform, has partnered with Sojo, a company specialising in clothing repair and alteration services. This partnership aims to enhance the…

Scotland’s retail sector experiences a mild recovery in May amid challenging conditions.Overall retail sales saw a modest increase of 0.7% year on year for May 2024.Non-food retail sales witnessed a decline both in-store and online, compared to last year.Poor weather conditions in May negatively impacted footfall, despite a strong bank holiday weekend.The sector remains fragile, despite some growth in specific categories such as beauty and computing.Retail sales in Scotland during May witnessed a modest recovery after challenging times, with a year-on-year increase of 0.7%. This growth, however, fell short of the 3.9% increase recorded during the same period last year.…

Rod Manley, Burberry’s Chief Marketing Officer, will vacate his position by the end of 2024.Manley joined Burberry in 2019, initially reporting to CEO Marco Gobbetti.During his tenure, Manley collaborated with influential creative figures like Riccardo Tisci and Daniel Lee.Manley’s departure aligns with Burberry’s recent financial downturn, marked by a 7% drop in sales over the past quarter.The search for Manley’s successor has commenced as Burberry navigates challenging market conditions.Rod Manley, who has served as Burberry’s Chief Marketing Officer since January 2019, is set to leave the British luxury fashion house at the end of the year. Initially, Manley reported to…

Sports performance brand WIT Fitness has been revitalised by its co-founders in collaboration with Frasers Group.WIT Fitness was initially acquired by Frasers Group in January through a pre-pack administration process.Founders Sam Kitching and Daniel Williams have regained a majority stake in WIT Fitness through a partnership with brand house Friday&.Frasers Group retains a minority stake as the brand approaches its 10-year anniversary this summer.Plans include launching capsule collections and physical activations in London, with new products expected in early 2025.Frasers Group acquired WIT Fitness, a renowned sports performance brand, in January during a pre-pack administration, aligning with its strategy to…

Independent fashion designers face a tumultuous landscape amidst recent upheavals in the industry.The closure of The Vampire’s Wife and sale of Roksanda signal the impact on designer labels.Matches going into administration has further compounded difficulties for these brands.Economic challenges, including VAT-free shopping and Brexit, add additional pressure.Smaller brands are urged to rethink wholesale strategies to survive.Independent fashion designers are currently navigating turbulent times, marked by the closure and sale of notable labels such as The Vampire’s Wife and Roksanda. These developments underscore the broader challenges facing independent designers in the UK.The Vampire’s Wife, founded by Susie Cave, recently ceased trading…

JD Sports reported an 8.1% decrease in operating profit before adjustments, despite a 2.7% revenue rise for 2023/24, citing increased wages and investments as primary factors.The company achieved a revenue of £10.4 billion during the 52 weeks to 27 January 2024, marking a 2.7% increase compared to the prior year.Profit before tax and adjustments fell by 8% to £912 million, hindered by lower revenue in the latter half of the year and continued investment costs.The UK’s revenue saw a decline of 8.3%, while Europe and North America experienced growth, and Asia Pacific sales rose by 7.5%.Retail store revenue increased by…

Calvin Klein has appointed Italian designer Veronica Leoni as the new creative director of its Collection line, marking a significant leadership change after a five-year vacancy. Leoni is recognised for her work with prestigious brands and recently gained acclaim as a finalist for the LVMH prize with her brand Quira. Her debut collection for Calvin Klein is set for autumn/winter 2025.The position of creative director at Calvin Klein had been vacant since Raf Simons’ departure in 2018.Veronica Leoni is renowned for her roles at major fashion houses such as The Row and Céline.Her first collection at Calvin Klein will include…

Golden Goose, an Italian luxury sneaker brand, has confirmed its listing on the Euronext Milan, aiming to bolster its capital structure and reduce debt.The company plans to launch a €100 million IPO to strengthen its financial position.Golden Goose reported an increase in net revenues by 18% to €587 million for 2023, showing solid growth.Permira, a global investment firm, acquired Golden Goose in 2020 for €1.28 billion, highlighting its market value.Leadership from both Golden Goose and Permira express confidence in the brand’s strategic growth and market performance.Golden Goose, renowned for its high-quality luxury sneakers, confirmed its listing on the Euronext Milan.…

Boohoo Group has decided that its executive directors will not receive planned bonus payouts of £1 million.The decision follows discussions with certain shareholders who expressed concerns over the payouts.The bonus plan cancellation coincides with Boohoo’s financial losses over the past year.During this period, Boohoo’s pre-tax losses widened significantly, raising shareholder concerns.Boohoo still recognises the excellent work of its executives despite the decision.Boohoo Group recently announced that its executive directors will not be receiving bonus payouts, which were initially set at £1 million each. This decision follows discussions with certain shareholders who voiced concerns over the appropriateness of these bonuses in…