Exclusive: Sustainable targets are everyone’s responsibility, says festival veteran September 21, 2021 The founder of a festival focused on sustainability and innovation in fashion has said customers and businesses need to join forces to tackle fast fashion. The organisation Fashion District aims to bring businesses together, attract global talent to East London and accelerate growth in manufacturing in the area. From September 22 to 26, Fashion District [...]
Exclusive: ASOS and Boohoo lead the pack as online-only retail sales hit record £16bn September 20, 2021 Sales at the UK’s 20 biggest online-only retailers have reached a record £16.4bn in the last year, rising 22 per cent from £13.2bn the previous year, according to calculations based on Companies House data. This growth continues to be driven by the success of fashion retailers, which increased their revenues by 14.2 per cent to [...]
Asos outlines plans for lower carbon footprint September 16, 2021 Online fashion retailer Asos has set out plans to minimise its impact on the planet over the next few years. Under its Fashion with Integrity (“FWI”) 2030 programme, the company intends to become a verified net zero emissions business and use more sustainable and recycled materials by 2030. Consumers are increasingly concerned with fast fashion’s [...]
SoftBank-backed AI startup Peak raises $75m in second funding round in six months August 31, 2021 Manchester-based Artificial Intelligence (AI) provider Peak will expand into new global markets after raising $75m in its latest funding round, led by SoftBank’s $100bn Vision Fund Two. Peak AI, which sells its “decision intelligence” enterprise software platform to non-tech companies to help with their operations, plans to use the latest raise to double its workforce [...]
Pandemic: High Street demise leads to explosion in demand for gigantic warehouses August 31, 2021 The enforced closure of high street stores saw the trend towards greater online sales rocket further this year, with retailers having to invest further into their warehousing capabilities to cope with delivery demand. In fact, the explosive growth in e-commerce, as a result of the pandemic, has seen almost 15m sq ft of new “super [...]
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 [...]