Under the influence: How reality stars’ Dubai trips could sink social media marketing January 27, 2021 While online fitness guru Sheridan Mordew has undoubtedly succeeded at influencing people, she may be struggling to make friends. When the social media influencer, who posts workout videos for her thousands of online followers, insisted that her much-documented trip to Dubai was essential business travel, she was met with little sympathy. In fact, Mordew is [...]
Debate: Will digital retailers continue to hoover up high street chains? January 27, 2021 Boohoo’s purchase of the Debenhams brand, and Asos’ pursuit of Topshop, suggests that the online revolution has very much succeeded. But is it that simple? Vicky Bullen, CEO, Coley Porter Bell says YES You don’t have to be Mike Ashley to spot the enormous opportunity in online retail since the coronavirus pandemic hit. Never before [...]
Shakespeare: Boohoo buys Debenhams brand to broaden its customer base January 27, 2021 Online fashion giant Boohoo has bought the Debenhams brand and website for £55 million, meaning its remaining stores will be forced to close. Boohoo already purchased the Karen Millen and Coast brands in 2019, however this is the first time the e-tailer has stepped out of the fashion category, with Debenhams enabling entry to the [...]
Topshop owner Arcadia collapsed with debts of hundreds of millions of pounds January 26, 2021 Troubled retailer Arcadia collapsed with gross liabilities of more than £550m, according to documents prepared by Deloitte, Arcadia’s administrator. Reports prepared at the end of November 2020 revealed Topshop – Arcadia’s flagship brand – and Topman failed with gross liabilities of more than £550m, the Telegraph revealed. Discount brand Outfit owed £80m. The Telegraph [...]
JD Sports mulls equity raise to fund acquisition spree January 26, 2021 JD Sports has confirmed it is considering tapping shareholders for extra cash to fund acquisitions, following reports that it is mulling a £400m equity raise. The retailer announced this morning that it is “exploring additional funding options” which could involve an equity placing. It said it is seeking to increase its “flexibility to invest in [...]
FTSE 100 closes at three-week low as ministers mull hotel quarantine for arrivals January 25, 2021 FTSE 100 closes at three-week low as ministers mull hotel quarantine for arrivals
Fashion victims: What next for the high street after Topshop and Debenhams go online-only? January 25, 2021 Topshop and Debenhams are set to disappear from the high street after e-commerce giants Boohoo and Asos swooped on the beleaguered retailers, reflecting the dramatic impact the pandemic has had on the UK retail sector. The decision to take former high street stalwarts Debenhams and Topshop digital-only strengthens experts’ predictions that the growth of online [...]
Asos shares jump as retailer confirms exclusive talks to buy Topshop January 25, 2021 Shares in Asos jumped more than five per cent this morning after the online retail platform announced it is in exclusive talks to buy Topshop – the jewel in the crown of Sir Philip Green’s collapsed business empire. Asos said this morning that it is in discussions with Deloitte – Arcadia’s administrator – to buy [...]
Boohoo buys Debenhams brand and website for £55m – but stores set to close January 25, 2021 Online retail giant Boohoo has announced it will buy Debenhams’ brand and website for £55m, but will not rescue the high street chain’s stores or jobs. The deal – announced this morning – means Debenhams’ remaining 118 department stores will close down and could result in up to 12,000 job losses. Boohoo said the acquisition [...]
Asos emerges as frontrunner to buy Topshop January 24, 2021 Online retail giant Asos is now the frontrunner to buy Topshop, the flagship brand of Sir Philip Green’s collapsed high street empire Arcadia. Asos has reportedly put in an offer of more than £250m to buy Topshop, according to Sky News, days after Next withdrew from the race. If Asos’ bid is successful, the future [...]