United Kingdom
Farfetch shareholders join forces to oppose the takeover of Coupang
A group of Farfetch shareholders have come together to block South Korean e-commerce firm Coupang’s impending takeover of the luxury e-tailer, citing an untransparent sales process
Burberry warns on profits as luxury demand slows
The British luxury group has once again cut its profit guidance for fiscal 2024, following a period of weak sales in December. It also warned of tough times ahead for the luxury sector as demand wanes
Festive season fails to boost UK retail sales
UK retail sales rose by 1.7% in the five weeks to the end of December 2023, well below the 6.9% growth recorded in the same period in 2022. Low consumer confidence continues to curb spending
Trading update from JD Sports
The UK-based sports retailer has issued a trading update for the 22 weeks to the end of December that is “slightly behind” prior expectations due to weaker consumer demand
UK: modest rise in retail sales in November
According to the latest figures from the Office for National Statistics (ONS), retail sales in the UK were up by 1.3% in November, a slight upturn from a period of no growth in October
South Korean Coupang acquires Farfetch
The South Korean e-commerce giant has agreed to buy Farfetch in a bailout deal, providing the online luxury platform with 500 million USD in emergency funding. Deal to acquire a 47.5% stake in Yoox Net-a-Porter is off
Stella McCartney names new CEO
Amandine Ohayon has been appointed the new CEO of the British premium shoe and ready-to-wear brand. She succeeds Gabriele Maggio, who is leaving after four years at the helm
Dr Martens cuts full year guidance
The British footwear brand has lowered its 2024 guidance following a mixed trading performance in the first half, marked by an increasingly difficult consumer environment in the US
Coats reports improving sales trend
The industrial thread manufacturer’s organic revenue fell by 12% year-over-year from July to October, which suggests an improving trend as compared to the 19% decline recorded in the first half
Farfetch’s owner is reportedly considering taking the company private
The online luxury retailer’s Chief Executive Officer José Neves is reportedly in talks with top shareholders and JP Morgan advisers to delist the company
Clarks to cut 103 jobs
The difficult economic conditions and the cost-of-living crisis, which are having a negative impact on the British footwear retailer’s results, are believed to be the cause of these cuts
Slower demand for luxury impacts Burberry’s full year forecasts
Despite a revenue increase in the first half of its fiscal year, the UK-based luxury group is now less optimistic about its full year forecasts due to a gradual slowdown in luxury demand worldwide
New appointments at Dr Martens
The British footwear brand has appointed Giles Wilson as its new Chief Financial Officer (CFO) and Ije Nwokorie to the new role of Chief Brand Office, both due to start in 2024
Cautious British consumers hold back on spending
Figures by the British Retail Consortium (BRC) suggest that retail growth slowed down in October due to the impact of inflation, with consumers deciding to reduce spending ahead of the holidays
Business of Fashion and APICCAPS discuss the future of the footwear industry
The Business of Fashion (BoF) magazine and the Portuguese Footwear Association (APICCAPS) co-hosted a panel to discuss the future of the rapidly evolving footwear industry-
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