Central bank of Norway acquires stake in fast fashion firm Boohoo December 7, 2021 The central bank of Norway has acquired a 3.1 per cent stake in fast fashion retailer Boohoo, according to documents filed on the London Stock Exchange. Norges Bank is now the fifth largest institutional investor in the online retailer, following confirmation of the investment this week. Boohoo co-founder Mahmud Kamani is still the largest single [...]
Most Arcadia stores lie empty a year after empire’s collapse December 1, 2021 Press Association THE vast majority of stores from Sir Philip Green’s former Arcadia empire remain empty a year after the retailer’s dramatic collapse. Around 86 per cent of shop sites run by the group – which included Topshop, Topman, Burton and Dorothy Perkins stores – are still vacant, according to data from the Local Data [...]
LadBible heads for £360m London float December 1, 2021 The millenial and Gen Z digital publisher Ladbible is targeting a valuation of £360m in one of the London stock market’s biggest media industry flotations, according to reports this morning. It is understood that co-founder Solly Solomou is to sell a chunk of his stake, which will be valued at around £200m if an initial [...]
Exclusive: The pandemic showed the limitations of an online-only model, says retail guru November 17, 2021 A year of enforced change in buying habits where pretty much everything went online has reverted to ‘the new normal’. The Covid pandemic accelerated the shift to online; but is the future of retail really digital only? While in the short to medium term, there will remain some concerns over the logistics of browsing and [...]
Boohoo close to settlement agreement over fraudulent pricing action November 4, 2021 Online fashion retailer Boohoo has said it is close to a settlement agreement over a class action about misleading customers on pricing. A case filed in California alleged that the Manchester based company offered heavy discounts to US customers based on inflated original prices, which allegedly it had never asked customers to pay in the [...]
Categories October 26, 2021 Categories 2022 Interested in sponsoring a category this year? Email our team at awards@cityam.com for more details. Insurance Company of the Year The insurance sector has had an extraordinary year, not just coming out of a pandemic but amid a host of natural disasters. This year we’re looking not just at insurers who are delivering for shareholders [...]
Tesco and ASOS call for legal crackdown on human rights abuse October 22, 2021 Tesco and ASOS are among more than 30 retail businesses and investors have called for a new UK law to prevent human rights abuse. Some 36 household names – including Primark and John Lewis – have issued a joint statement calling for fresh human rights and environmental due diligence law. A legal review by Blackstone [...]
Gymshark ‘aggressively’ pitched by banks as London IPO is on the cards October 12, 2021 Athleisure business Gymshark has started to put together plans for a stock market listing. The brand has been holding preliminary talks with institutional investors and investment banks about a flotation, Sky News has reported. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was [...]
Bleak outlook: Asos ‘not keeping up with fast fashion rivals’ after supply chain pressures October 11, 2021 Online retailer Asos’ share price took a bruising yesterday amid a “massive warning shot across the bows of other online retailers.” The fashion firm’s CEO Nick Beighton made a shock resignation yesterday after six years in the role as shares were down 50 per cent on the year. Shares fell by 14 per cent on [...]
Debenhams launches new online marketplace following Boohoo takeover October 5, 2021 Debenhams has launched a new online marketplace following its takeover by Boohoo earlier this year. It comes after Debenhams, once a historic high street staple in the UK, ended up another casualty of the pandemic that drove shoppers to the digital sphere. The website, launched by marketplace software as a service (SaaS) platform Mirakl, will [...]