Missguided mulls HQ job losses after rescue deal March 7, 2022 Fast fashion retailer Missguided has made a move to slash “a number of roles” at its head office in Manchester. The beleaguered firm had secured a rescue deal at the end of last year, with Alteri Investors snapping up a 50 per cent stake in the firm and acquiring its debt. Missguided then began a [...]
Fast-fashion giant Missguided edges closer to a rescue deal December 19, 2021 Fashion retailer Missguided is on the cusp of a rescue deal, after a challenging pandemic period for the fast-fashion machine.
Missguided seeks rescue plan as supply chain chaos strains finances October 24, 2021 Missguided’s multimillionaire owner is scrambling to save the fast fashion brand from supply chain pressures. The online retailer has been hit by a perfect storm of price rises and delivery disruption. Missguided founder Nitin Passi is thought to be in talks with City crisis experts from AlixPartners to look at dramatic restructuring options, according to [...]
Shein dubbed ‘most manipulative’ fast fashion website October 20, 2021 Fast fashion retailer Shein has been dubbed the “most manipulative” fashion website for its tactics to entice customers to make purchases. Countdown timers, exclusive subscriber discounts, trending stickers and “you might also like” all feature heavily on Shein’s websites. Rogue Media has dubbed the budget fashion brand the worst offender for so-called ‘dark patterns’. Andy [...]
JD Sports first-half profit jumps after post-lockdown demand September 14, 2021 Sportswear retailer JD Sports Fashion has reported record earnings for the first half thanks to strong demand for sportswear. However, the company withheld its interim dividend and made the suggestion of a “larger full year dividend” instead. JD Sports said it had been limited by supply chain disruption, meaning it had struggled to meet demand [...]
Second-hand market ripens as China’s $3bn platform plots US IPO July 5, 2021 Tencent-backed online second-hand marketplace Beijing Zhuanzhuan Spirit Technology (BZST) is plotting a $400m funding round ahead of an initial public offering, according to reports. BZST, currently valued at $3bn, is trying to gauge interest from private equity and strategic investors, Bloomberg first reported, citing people familiar with the matter. The second-hand retailer is eyeing a [...]
Fossil fuel fashion: half of clothing made from non-recycled plastic, think tank says June 11, 2021 Half of fast-fashion items sold by online brands like Boohoo and Missguided, are made solely from non-recycled plastics, a think-tank has said today. Think tank Royal Society of Arts, Manufactures and Commerce (RSA) urged the government to impose a new tax on such clothing made from non-recycled plastic like polyester. Income from the suggested clothing [...]
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 sounds cautious note on future demand after profit quadruples October 14, 2020 Asos reported a quadrupling in full-year profit following a spike in online shopping during the coronavirus pandemic, but warned on the outlook for consumer spending among its young customer base. The fashion ecommerce giant reported profit before tax of £142.1m for the year to 31 August, up from £33.1m the year before. Read more: Asos [...]
Retail body accuses government on inaction on garment worker abuse October 11, 2020 The trade body for the UK retail sector has said that the government has carried out no “significant action” to protect textile workers from exploitaiton. In a letter to home secretary Priti Patel, the British Retail Consortium (BRC) said: “Despite numerous reports in the media, and a previous letter to the home secretary signed by [...]