Hermès share rise as handbag-maker retains luxury crown February 14, 2025 Shares in the luxury handbag retailer Hermès rose this morning as the family-owned firm reported yet another bumper set of results. Revenue reached €15.2bn (£12.66bn) in 2024, up 15 per cent year on year, Hermès told markets this morning. The share price of the Euronext-listed company rose 2.5 per cent in early trades, meaning the [...]
In The Style goes out of fashion as administration looms February 14, 2025 Fast-fashion retailer In The Style is on the brink of collapsing into administration two years after being forced into a rescue deal. FTS Recovery is being lined up to oversee the potential administration of the company which was founded by Adam Frisby in 2013. The business was previously listed on the London Stock Exchange’s AIM [...]
Kurt Geiger sold to New York’s Steve Madden for £289m February 13, 2025 Private equity firm Cinven has announced the sale of Kurt Geiger to shoe brand Steve Madden for £289m. Cinven bought the footwear and accessories brand in 2015 for £245m, and has since greatly expanded the business in the US. In America alone, sales surged by 58.7 per cent to over £110m from February to September [...]
Birkenstock predicts further UK sales success after latest surge February 12, 2025 Birkenstock has forecast its UK sales will take another huge step forward during its current financial year thanks to growing demand. The footwear brand has revealed its sales have so far been “above initial expectations” in its year which will finish at the end of September. The continued rise in its UK revenue has been [...]
Gucci design chief De Sarno steps down as Kering targets turnaround February 6, 2025 Kering has parted ways with Gucci’s creative director Sabato de Sarno, two years after he was hired to lead a turnaround at the beleaguered brand. Sarno joined the brand in 2023 to replace Alessandro Michele, whose maximalist and genderfluid designs had defined the fashion house during his seven-year run. However, Sarno’s more paired-back direction failed [...]
LK Bennett: Luxury fashion brand loved by Princess of Wales slumps into the red February 5, 2025 LK Bennett, the luxury fashion brand loved by the likes of Catherine, Princess of Wales, has slumped into the red. The London-headquartered retailer has reported a pre-tax loss of £3.1m for the 12 months to 27 January, 2024, according to newly-filed accounts with Companies House. The loss comes after LK Bennett posted a pre-tax profit [...]
Jack Wills: Job cuts continue as fashion brand halves in size February 5, 2025 Profit has continued to fall at fashion brand Jack Wills, which is owned by Mike Ashley’s Frasers Group, as more jobs were cut and stores closed during its latest financial year. The company’s headcount reduced from 233 to 135 in the 12 months to 28 April, 2024, while it went from running 32 shops to [...]
Savile Row label Hackett hails international success as profit rockets February 4, 2025 International success has helped up-market Savile Row clothing label Hackett almost quadruple its profit during its latest financial year as sales surged. The London-headquartered chain has reported a pre-tax profit of £3.8m for the 12 months to 31 March, 2024, according to newly-filed accounts with Companies House. The figure comes after Hackett posted a pre-tax [...]
Mulberry: Luxury brand looks to turnaround ‘sub-optimal’ performance January 30, 2025 British luxury plan Mulberry has unveiled a turnaround plan aimed at rescuing the retailer from a period of decline. This comes after its share price has fallen 17 per cent in the last month and more than 30 per cent in the last year. Revenue for the last quarter of the year fell 18.3 per [...]
Crew Clothing plans to open at least 20 stores in 2025 January 29, 2025 Crew Clothing has revealed plans to open at least 20 stores across the UK this year. The fashion retailer announced its intention to expand further after the brand added 15 new locations over the course of 2024. That flurry of openings included a new store in Paddington, a move which marked the company’s return to [...]