Valentino is set to invest EUR 250 in the global expansion and marketing of the brand. The Italian luxury house got the green light from its board earlier this week, and is now set to invest a total EUR 250 million in a strategic expansion plan. Valentino, which saw its full-year profit end at EUR 32 million, is aiming at doubling its retail presence within the next 4 to 5 years.

Posted by Hanneli Karagulle

Read more…

Diesel has confirmed Nicola Formichetti has joined the popular denim brand as its new artistic director. In his new role, Nicola will oversee all creative activities of the Diesel main line, including the areas of product, communications and interior design. Having worked everyone from Lady Gaga to Uniqlo, Dolce & Gabbana and Nike, Formichetti will now co-ordinate the existing Diesel Creative Team along with his new recruits from different fields.

Posted by Ava Szajna

Read more…

TM Lewin has teamed up with Prince's Trust to create a collection of men's accessories. The collaboration is a part of a Prince's Trust campaign which aims to provide work for young, unemployed people in the UK. The collection, which is designed by Antony Aitman under supervision of TM Lewin's own team and the fashion designer Wayne Hemingway, consists of essential menswear accessories including cufflinks, ties and handkerchiefs.

Posted by Hanneli Karagulle

Read more…

Ikea has been forced to halt sales of its famous Swedish meatballs across 13 European countries after tests carried out in the Czech Republic found the meatballs contained horsemeat. The world’s biggest furniture retailer said it had carried out the tests in response to the scandal after the discovery of horse meat and DNA in beef products across Europe.

Posted by Ava Szajna

Read more…

John Lewis reported a “mixed bag of events” for the week ending 15 February, but still managed an 8 per cent rise in sales on the year before. The department store said six out of its seven days of trading reported positive sales gains, with especially strong weekend trading clocking up a 16 per cent rise in sales on Sunday 10 February and an 11.5 per cent rise on Saturday 15 February.

Posted by Ava Szajna and Hanneli Karagülle

Read more…

Kingfisher, Europe’s biggest home improvements retailer on Thursday said it would meet year profit forecasts despite a continued decline in underlying sales. The B&Q, Castorama and Brico Depot owner said it still expected adjusted pretax profit for the 2012-2013 fiscal year to be in line with analysts’ consensus forecast of £715 million.

Posted by Ava Szajna

Read more…

Carpetright has posted a rise in third quarter sales thanks to new ranges and store refurbishments. Britain’s biggest floor coverings retailer said sales at UK stores open more than a year rose 3.2 per cent in the 13 weeks to 26 January, compared with a 0.6 per cent rise in the previous quarter.

Posted by Ava Szajna

Read more…

Ikea posted record net profits for the year on Wednesday, as shoppers continued to flock to the low-cost furniture retailer. Net profit rose 8 per cent to EUR 3.2 billion in the 12 months to last August, as Ikea remained relatively resilient to the economic downturns felt across the globe.

Posted by Ava Szajna

Read more…

Lakeland's Stratford City store. Kitchenware specialist Lakeland on Tuesday announced a £10 million investment to expand its distribution centre. According to ITV News, the Cumbrian firm has said the planned expansion could create around 600 new jobs, as well as a bevy of new stores for the retailer.

Posted by Ava Szajna

Read more…

Ikea has been hit by another problem in its expansion into India after it emerged last month that its cafes could infringe on regulations. The Swedish furniture retailer is said to be planning to invest £1.25 billion in its expansion into India, although countless complications could delay its arrival in the country.

Posted by Ava Szajna

Read more…