Asos billionaire’s petition to stop spaceport plans scrapped by judge August 20, 2021 Danish billionaire Anders Povlsen’s attempt to stop approved plans for a spaceport in Scotland has been scrapped by a court judge. Povlsen, Asos’ largest shareholder and Scotland’s richest man, has reportedly been against the building of the spaceport after investing in a rival project. The Sutherland spaceport will be the UK’s first vertical launch facility, [...]
Klarna considering a listing but not ‘right now’ August 18, 2021 Swedish fintech Klarna Bank, which offers ‘buy now and pay later’ loan plans to shoppers, may consider listing as early as 2022. The firm does not have “immediate plans” for an IPO amid “very volatile” markets, chief executive and co-founder Sebastian Siemiatkowski told Bloomberg in Warsaw. Klarna was valued at $45.6bn in its latest funding [...]
Worst kept secret confirmed as Crozier moves to head up BT August 17, 2021 Adam Crozier has been confirmed as the new chairman of BT following the retirement of Jan du Plessis. It has been known for some time that Crozier would be taking up the post after The Sunday Times revealed that he had beaten off three other candidates for the post earlier this month. Crozier is an [...]
BT poaches Asos chairman Adam Crozier August 8, 2021 BT has poached the chairman of online fashion giant Asos in a bid to boost the telecoms company’s standing during a crucial period. Adam Crozier is expected to resign from Asos to take up the chairmanship of BT, but is set to remain in similar roles for data analytics firm Kantar and Premier Inn owner [...]
Shakespeare on advertising: Asos looks set to build on success July 28, 2021 ASOS recently reported revenues of £1.3bn for the four months leading up to June 30, 2021 – a year-on-year increase on last year’s performance of £1.1bn. Beyond customer growth, however, data from YouGov BrandIndex shows that the online fashion retailer has seen real improvement in a number of key areas. ASOS’ Impression scores – which [...]
Startups urge caution over buy now pay later regulation July 26, 2021 British startups have urged caution over the City watchdog’s plans to regulate the £2.7bn buy now pay later market. The Financial Conduct Authority (FCA) is set to crack down on companies such as Klarna and Clearpay after the number of BNPL transactions across the UK tripled last year. But a lobby group representing startups has [...]
Sale rates soar for online retailer ASOS July 15, 2021 Online fashion giant ASOS saw sales continue to skyrocket despite physical competitors re-opening, per the firm’s latest market update. UK sales increased 60 per cent for the retailer in the four months to the end of June, with active customers growing by a further 1.2m. Chief executive officer Nick Beighton said, “ASOS has delivered another [...]
Revolution Beauty to make stock market debut July 13, 2021 Revolution Beauty are plotting a float on London’s alternative markets valuing the company at nearly half a billion pounds. The float has received strong support from shareholders and was significantly oversubscribed, the UK-based firm said this morning. Read more: Asos enters deal with Nordstrom to bolster Topshop’s US presence Adam Minto, the beauty firm’s boss [...]
Asos enters deal with Nordstrom to bolster Topshop’s US presence July 12, 2021 Asos has teamed up with the US’ Nordstrom, which will see Topshop clothes sold in brick and mortar stores for the first time since the brand fell into admission last year. The joint-venture will see Nordstrom snag a minority stake in Topshop, Topman, Miss Selfridge and HIIT brands, which joined Asos’ pre-existing online platform following [...]
Philip Green’s wife Tina paid £50m by Topshop administrators July 7, 2021 Tina Green, the wife of former retail tycoon Philip Green, received £50m in May from Topshop’s administration. The £50m was lent to Topshop as part of an emergency restructuring in 2019 and secured against a warehouse in Northamptonshire. In the wake of the collapse of parent company Arcadia, the space was sold for £83m, the [...]