Articles by Huw Hughes
Next snaps up Cath Kidston for 8.5 million pounds
29 Mar 2023 - Business
British high street giant Next is once again bolstering its portfolio, this time by announcing plans to acquire fashion and lifestyle brand Cath Kidston. Next said in a brief statement Tuesday: “The company announces that it has agreed to acquire the brand name, domain names and intellectual property of CK Acquisitions Ltd from the...
Hotter Shoes owner Unbound Group mulls sale
28 Mar 2023 - Business
Unbound Group, the owner of British footwear retailer Hotter Shoes, is considering accepting a takeover bid by knitwear specialist WoolOvers Group Limited. In a statement Tuesday, Unbound said it is “in discussions with WoolOvers Group in relation to a possible cash offer for the entire issued and to be issued share capital of Unbound”. It said...
Next reportedly in ‘advanced talks’ to buy Cath Kidston
28 Mar 2023 - Business
UK high street giant Next is reportedly in “advanced talks” to buy lifestyle retailer Cath Kidston. Next, whose portfolio already includes Made.com and Joules, could make a deal as early as Tuesday, Sky News reports. Banking sources said an agreement was likely but not certain, according to the report. It follows reports in February that current...
Canadian brand Duer aims to double retail footprint in 2023
27 Mar 2023 - Retail
Vancouver-based fashion brand Duer says it plans to double its physical store estate from five to 10 by the end of the year. The denim specialist said the decision comes after experiencing a 100 percent increase in year-over-year growth “paired with a casual clothing boom that continues to drive demand”. It said its aim is to “optimize brand...
LVMH Prize 2023: Nine finalists announced
27 Mar 2023 - Fashion
The finalists for the annual LVMH Prize have been announced by the luxury conglomerate. Twenty-two semi-finalists were initially selected from among 2,400 candidates, before that number was further narrowed down to just the nine below: Aaron Esh (UK, menswear); Bettter (Ukraine, womenswear); Burc Akyol (France, womenswear, menswear, and...
Fashion retailer Scotch & Soda secures rescue deal
27 Mar 2023 - Business
Fashion retailer Scotch & Soda has been rescued by American brand management company Bluestar Alliance after filing for bankruptcy for its Dutch operations last week. Confirming media reports, Scotch & Soda co-trustee Erik Schuurs said the deal was “good news for quite a large group of employees at Scotch & Soda, even if, unfortunately, not all...
In The Style shareholders narrowly approve takeover
27 Mar 2023 - Business
British fashion retailer In The Style will go ahead with its sales process after 58.92 percent of shareholders backed the move. The retailer will sell its operating subsidiary, In The Style Fashion Limited (ITSFL), for a total cash consideration of 1.2 million pounds following the completion of a strategic review earlier this year. The deal with...
Torrid swings to FY profit as Q4 losses narrow, appoints CCO
24 Mar 2023 - Business
Plus-size womenswear brand Torrid returned to a profit in the year ended January 28 as its fourth-quarter losses narrowed. The US brand, which specialises in fashion for sizes 10 to 30, ended the year with a net income of 50.2 million dollars compared to a loss of 29.9 million dollars a year earlier. Adjusted EBITDA for the full year fell to...
Joe Browns eyes 10 new UK stores by end of 2024, creating 200 jobs
23 Mar 2023 - Retail
Joe Browns is bucking the broader UK retail trend by announcing ambitious plans to open 10 new stores by the end of 2024 on the back of “robust” Christmas trading. It’s a significant expansion for the fashion and homes retailer, which currently only has two stores: one in York, and another in Meadowhall, Sheffield. The company, which recently...
The RealReal to wind down beauty business amid streamlining efforts
23 Mar 2023 - Business
The RealReal is winding down its beauty business to focus on its luxury consignment business amid an ongoing streamlining at the US resale giant. “We’re prioritizing our efforts on growing our luxury consignment business,” a spokesperson told WWD. “With that, we have been deemphasizing the direct side of our business, including our beauty...