Author: Scott Dylan

VF Corporation, owner of brands like Vans and The North Face, reported a significant operating loss in Q2.Revenue for VF Corp in the second quarter was $1.9bn, a decline of 9% from the previous year.The North Face sales saw a modest dip of 3%, while direct-to-consumer sales improved by 6%.Vans experienced a sharp revenue decline of 21%, and Timberland sales decreased by 10%.Despite current challenges, VF Corp aims to achieve cost savings and return to growth.VF Corporation reported an operating loss of $239.9 million (£188.9 million) for the quarter ending June 29. This marks a substantial increase from the $8.9…

Asos has entered into a strategic three-year partnership with Microsoft to enhance operational effectiveness through artificial intelligence.The collaboration will integrate AI to automate meeting tasks, code-writing, and customer interaction tools.Asos engineers will utilise the AI chatbot Microsoft Copilot for efficient code generation.Microsoft’s Power Automate will be employed to streamline workplace processes, improving productivity.The AI Stylist tools will assist customers in discovering new styles through conversational interfaces.Asos has signed a significant three-year agreement with Microsoft, aiming to boost its operational efficiency by leveraging artificial intelligence (AI). This strategic collaboration is designed to streamline processes and enhance productivity across the company’s operations.A…

Frasers Group, featuring Sports Direct and House of Fraser, renews leases at Croydon’s shopping centres as new retailers are introduced.Owner Unibail-Rodamco-Westfield has secured leases with three new fashion retailers, expanding the retail offerings in Croydon.The Centrale and Whitgift shopping centres will soon include Dressmode, Maflora, and Rebel Clothing as new tenants.Additional new signings feature Adara Beauty, Pinball Republic, and Stacks, diversifying the retail environment in Croydon.The leasing director highlights the variety of retailers and the trust placed in Croydon as a key shopping destination.Frasers Group, which includes notable brands like Sports Direct and House of Fraser, has extended its retail…

Senior leaders from top retail brands discuss essential tech for future success.Chris Williamson highlights the fusion of physical and digital retail spaces.Papinder Dosanjh emphasises the importance of data science and AI.Stephanie Legg focuses on the marketing potential of new technologies.Sangeetha Chandru analyses AI’s role in shaping retail experiences.The recent Drapers Talks podcast brought together industry leaders from N Brown, Asos, Schuh, and EXL to delve into the transformative power of technology in retail. Chris Williamson from N Brown Group expressed the critical convergence of the physical and digital worlds, highlighting augmented and virtual reality as pivotal tools for retailers.Williamson posited…

In the first half of 2024, Puma’s financial performance showed a decrease in various metrics, signalling challenges for the renowned sportswear brand.Puma’s sales declined by 2.1% year on year, totalling €4.2 billion (£3.61 billion) for the period.Net income for the brand decreased by a significant 25% to €129.3 million.Earnings before interest and taxes (EBIT) also saw a fall of 5.1%, with currency effects cited as a primary factor.Despite these setbacks, Puma remains optimistic about the second half of the year and strategic market focus.In the first six months of 2024, Puma experienced a year-on-year sales decline of 2.1%, resulting in…

Lord Rose, former M&S CEO, appointed first patron of Fashion Retail Academy.His retail career began at Marks & Spencer in 1972 as a management trainee.Rose’s leadership at Burton Group and M&S highlighted his industry influence.The Fashion Retail Academy aims to enhance student opportunities with this appointment.The Academy has successfully prepared over 13,000 students for the fashion industry.Lord Rose, whose full title is Baron Rose of Monewden, has been appointed as the first patron of the Fashion Retail Academy, a specialist college located in London. The former CEO of Marks & Spencer, Rose’s career in retail began at this retailer in…

Richard Arnold, the former CEO of Manchester United, now assumes a significant role at Norton Motorcycles, a historic British brand. His new position as executive director marks a strategic shift aimed at revitalising Norton’s global presence.After overseeing Manchester United’s major sponsorships, Arnold is ready to steer Norton Motorcycles toward ambitious growth, involving the introduction of new models and expansion into international markets.Richard Arnold’s appointment as executive director of Norton Motorcycles follows a profound career in football. During his tenure at Manchester United, Arnold orchestrated lucrative sponsorship deals that significantly benefited the club. His transition to Norton marks a pivotal moment…

Nobody’s Child and Whistles are expanding their retail presence in Covent Garden, London.Nobody’s Child is set to launch its largest store at 3 Neal Street this Saturday, following a successful pop-up last year.Whistles will open a new, spacious store at 117 Long Acre, continuing its strategy of prime location expansions.These openings follow other new arrivals in the area, indicating a trend of growth in Covent Garden’s retail sector.Both brands aim to attract their community by offering more substantial and accessible shopping experiences.Nobody’s Child, a popular womenswear brand, is enhancing its retail footprint with a significant new store in Covent Garden.…

By Rotation and Airbnb are teaming up to enhance the wedding guest experience.Customers booking Airbnb properties can receive £150 credit from By Rotation.Additional £100 Airbnb credit available for future bookings at select destinations.Categories include popular wedding destinations like the UK, Ireland, Spain, and more.Collaboration aims to combine community, travel, and fashion for a seamless experience.The partnership between By Rotation and Airbnb introduces an innovative offer that blends travel and fashion. Starting immediately, Airbnb users have the opportunity to benefit from a £150 credit with By Rotation. This offer enhances the accessibility of acquiring a suitable wedding guest outfit, aligning with…

Boohoo Group is considering the sale of its office building in Soho, London, purchased for £72m in 2021.The 43,963 sq ft office is located at 10 Great Pulteney Street and currently houses 400 to 500 employees.Boohoo Group intends to conduct a sale and leaseback transaction to remain in the building post-sale.Discussions with prospective buyers are underway, though exact listing details remain unclear.The move is part of Boohoo’s strategic financial assessments, amid exploration of refinancing options.Boohoo Group is contemplating the sale of its office located in Soho, London, which it acquired in 2021 for £72 million. The office, situated at 10…