Billionaire Gymshark boss Ben Francis quits firm he co-owns April 22, 2025 Ben Francis, the billionaire founder of Gymshark, has quit the sports talent agency he helped to establish. The Members Agency was set up in 2018, is based in Wolverhampton and also works on sports sponsorship deals. According to a new filing with Companies House, Francis has stepped down as a director and is no longer [...]
Tourist tax: Lisa Nandy says Labour may ‘explore’ restoring VAT free shopping April 16, 2025 Lisa Nandy has said the government “could explore” restoring VAT free shopping after hearing “very loud and clear” the calls from the industry to scrap the so-called tourist tax. The culture, media and sport secretary told Elle UK magazine that fashion was in the “soul of the nation” and ministers recognised its “centrality” to the [...]
Asos and Boohoo stick to US closures despite Trump tariffs April 8, 2025 Asos is to continue with its plan to close its distribution centre in Georgia, USA, and serve the country from Yorkshire despite the imposition of President Donald Trump’s tariffs. At the start of the year, the fast-fashion group announced plans to close its US base in another effort to boost profitability and streamline operations. The [...]
Trespass: Profit plummets as sales remain static at outdoor clothing brand April 1, 2025 Profit at the company behind outdoor clothing giant Trespass plummeted as sales remained static during its latest financial year. Jacobs & Turner has reported a pre-tax profit of £1.2m for the year to 30 June, 2024, down from the £9.6m it achieved in the prior 12 months. New accounts for the business, which have been [...]
Uniqlo: Gen Z’s viral fashion trends help profit rocket March 26, 2025 Viral fashion trends among Generation Z helped Uniqlo’s profit surge by more than €100m (£83.5m) during its latest financial year. The London-headquartered European division of the Japanese giant has reported a turnover of €1.69bn for the 12 months to 31 August, 2024, up from the €1.30bn it achieved in the prior period. New accounts filed [...]
Editor’s Interview: Charles Tyrwhitt founder – ‘No point whinging about the government’ March 24, 2025 The founder of Charles Tyrwhitt, Nick Wheeler, has told City AM that there’s “no point whinging about what the government are doing or not doing, because they’re not going to change,” adding “I’ve got to get on and make my own decisions.” His comments came during an interview with City AM in which he lamented [...]
In The Style: Huge debts revealed after rescue deal saves jobs March 24, 2025 In The Style owed more than £20m when it was rescued after collapsing into administration, it has been revealed. The Manchester-based fast-fashion brand rescued by Alps Sourcing Limited last week in a deal which secured 87 jobs. The debts have been revealed in a new document filed with Companies House by administrator FTS Recovery. What’s the [...]
Footasylum: Profit almost triples as sales surge March 20, 2025 Profit at Footasylum surged by almost 200 per cent as its sales jumped to nearly £350m during its latest financial year, it has been confirmed. The Rochdale-headquartered retailer, which is backed by Germany-headquartered investment firm Aurelius Group, has reported a pre-tax profit of £17.2m for its year to 25 January, 2025. The figure comes after Footasylum [...]
In The Style: Fast-fashion brand saved after administration collapse March 19, 2025 In The Style has been sold after collapsing into administration in a move which put hundreds of jobs at risk of being lost. FTS Recovery had been appointed to oversee the administration process at the Manchester-based company before a deal with Alps Sourcing Limited was agreed. It has now been confirmed that 87 jobs in [...]
Select Fashion on verge of collapse as it shuts UK stores – reports March 15, 2025 Retailer Select Fashion is reportedly on the verge of collapse as the struggling chain nears the closure of 35 shops across the UK. The group has drafted in advisers to oversee a process of liquidation, according to documents seen by the Sun. It comes as it is believed the chain will have shut 35 shops [...]