Boohoo hits out at Ashley’s Frasers Group again as public spat deepens December 10, 2024 Boohoo has accused Mike Ashley’s Frasers Group of waging a campaign to “destabilise” and “disrupt” the company today in the latest salvo of a protracted spat between the two retail giants. In a letter to shareholders, Boohoo urged them to vote against Ashley’s efforts to install himself on Boohoo’s board and said Frasers is “acting [...]
Mike Ashley pledges ‘fresh ideas’ in bid for Boohoo board seat December 8, 2024 Frasers Group chief Mike Ashley has renewed his criticism of Boohoo’s management as he continues his bid for a seat on the struggling fashion retailer’s board. In an open letter, Ashley vowed to turn around the London-listed company, arguing that it was underperforming with “no clear strategy to halt the decline”. “As a board member, [...]
Will other Chinese firms follow Shein to London? December 4, 2024 Shein’s reported decision to list in London rather than New York is likely to be an anomaly rather than a trend, says Megan Penick Fashion giant Shein’s prospective IPO – slated for early next year – has caused something of a stir in the City. Indeed, the decision to list on the London Stock Exchange [...]
Shein: Why the FCA is unlikely to block a blockbuster listing December 3, 2024 The boss of the Financial Conduct Authority (FCA) has insisted he is not the regulator of “every aspect of corporate behaviour” amid growing concerns over plans for the fast fashion retailer Shein to float on the London Stock Exchange. Nikhil Rathi, chief executive of the FCA, said it is not within the regulator’s power to [...]
Exclusive: City grandees look to Asia in bid to solve IPO drought November 28, 2024 City grandees are looking to capitalise on European political volatility and tempt a wave of international and Asian companies onto the London Stock Exchange next year, according to a memo seen by City AM. London’s public markets have “tailwinds” behind them and the capital could benefit from being the “adult in the corner of the [...]
Boohoo co-founder replaced amid battle with Mike Ashley’s Frasers Group November 21, 2024 The public spat between Mike Ashley’s Frasers Group and Boohoo has taken another turn as the struggling fast-fashion retailer announced its co-founder Mahmud Kamani was replaced as chairman. Non-executive director Tim Morris has taken on the role with immediate effect with Kamani becoming vice chairman. In a statement, the board of the Manchester-headquartered group said [...]
Shein targets 2025 for London float November 18, 2024 E-commerce giant Shein is set to target early next year for its £50bn float on the London Stock Exchange, subject to pending regulatory approvals. It is set to hold an official investor roadshow in the coming weeks, during which the IPO-bound company will field large investors’ questions and test their investment appetite, according to The [...]
Boohoo completes fundraising as it struggles to return to growth November 18, 2024 Boohoo has raised just under £40m in a bid to turn itself around amid its public fight with the boardroom demands of an activist shareholder, Mike Ashley’s Frasers. This morning, the company said it had conditionally raised total proceeds of approximately £39.3m. This includes £400,000 from a retail offer and £38.9m from an investor subscription. [...]
MPs plan to question Shein boss as firm eyes London IPO November 5, 2024 A cross-party group of MPs will call in Shein’s boss to comment on the risk of forced labour in fast-fashion supply chains, according to committee chair Liam Byrne. The House of Commons business select committee is finalising plans for an inquiry into employment rights in the workplace, which will, amongst other things, examine the risk [...]
As Boohoo mulls a breakup, why is the retailer underperforming? October 24, 2024 Yougov’s chief executive Steve Hatch takes a closer look at the data behind the biggest stories in business Boohoo recently announced the departure of its CEO John Lyttle – and a potential business restructure that might see the brand sell Debenhams and Karen Millen to retrain its focus on younger consumers. With much analysis of Boohoo’s strategy [...]