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Victoria Beckham acquires Spar shop in Battersea Thursday, 21st March 2013
Victoria Beckham has purchased a 850 sq foot Spar store in Battersea. The location, situated in walking distance from the fashion desinger’s office in South-West London, is to be renovated and serve as an extension of the Victoria Beckham head quarters,Mirror reports. The former pop star has seen her brand develop in a rapid pace over the the last eight years it has been up and running, and has successfully built up a renowned fashion range with high credibility.
Jaeger executive chairman departs Tuesday, 19th March 2013
Stewart Binnie, executive chairman at high-end fashion brand Jaeger has left after less than a year in the role, according to a report by Retail Week on Tuesday. Having taken up the position of executive chairman back in October last year, Binnie replaced Harold Tillman at the head of the premium fashion chain.
Zara to expand with nine new stores a week Thursday, 14th March 2013
Inditex plans to open nine Zara stores a week in the year to come. It looks like Zara is set for an all-systems-go expansion as owner Inditex plans to open nine new stores a week for its flagship brand in the coming year. The Times on Thursday revealed Zara will continue to pursue its heady pace of store expansion which in 2011 saw it debut in both the Australian and South African markets.
Gap profits up 61% thanks to boost from US store sales Friday, 1st March 2013
Photo credit: Gap Inc. Gap Inc. reported a 61 per cent rise in fourth quarter profits on Thursday, as the company’s fortunes appear to finally be turning around. The apparel retailer, which owns the Gap, Old Navy and Banana Republic brands posted net income of USD 351 million, or 73 cents per share, for the quarter ending 2 February, compared with USD 218 million, or 44 cents per share in the same quarter the year before.
The Kooples faces a loss for second year in a row Wednesday, 20th February 2013
The French fashion chain had to withstand yet another blow as it is reported that it swung to a loss for the second year in a row. This is despite the fact that total sales for 2012 saw a strong growth, estimated to come in at £15.2 million for the period. The loss came as a result of the pre-tax losses that rose 3 per cent to £1.17 million together with high marketing costs, resulting in an overall loss.
Phase Eight to open new London flagship Tuesday, 22nd January 2013
Womens’ fashion retailer Phase Eight has announced it will open its third London flagship in March this year as it continues to expand its store base. Located within the St Christopher’s Place shopping district with access from James Street and Gees Court, the new flagship will be significantly larger than the average Phase Eight store, covering 3,100 sq ft across two floors.
M&S shareholder warns Bolland that he has mere months to turn sales around Monday, 14th January 2013
According to David Cumming, who currently holds a 1.7 per cent stake in M&S, the fate of this autumn’s clothing range will directly reflect boss Marc Bolland’s managerial decisions. Speaking on Radio Four’s Today Programme, Cumming, who is also head of UK Equities at Standard Life Investments, sounded ominous about Bolland’s prospects with the company if sales continue to flag:
"I think the market will wait to see how that range – which doesn't really come through until six to nine months – is going to work.
LK Bennett bags 15% growth in full year turnover Monday, 14th January 2013
High-end womenswear brand LK Bennett has reported a 15 per cent rise in full-year turnover, driven by a boost in sales online and internationally. LK Bennett, whose shoes are a well-known favourite with the Duchess of Cambridge, said around half of its sales came from shoes, the rest derived from clothing, bags and accessories.
Warehouse managing director to depart as sales ‘flourish’ Monday, 7th January 2013
Meg Lustman, managing director of Aurora-owned fashion brand Warehouse is expected to leave the retailer next month following a period of strong trading over Christmas. Having worked at the head of the company since 2009, the Independent reported that Lustman is thought to be leaving her role in February, although she could remain on the group’s board for a while longer.
Gap to buy luxury boutique Intermix for $130m Thursday, 3rd January 2013
Gap Inc is reportedly set to buy women’s fashion boutique Intermix Inc in a deal worth USD 130 million as it looks to enter the luxury clothes market. According to the Wall Street Journal, Art Peck, president in charge of new brands at Gap, has said the apparel giant will double Intermix’s store numbers and look to expand the chain overseas.