Asos flies in clothes to manage supply chain delays and forced to sell products at a discount January 13, 2022 Online fashion giant Asos said this morning it had to fly in clothes to manage supply chain delays and sold more products at a discount as competition heated up over the autumn months. The company also revealed it suffered from the various lockdowns imposed in Europe as Omicron spread, but sales held up in the [...]
London’s Looop snapped up by SoftBank-backed ed-tech firm for $20m January 11, 2022 London-based corporate learning company Looop has been snapped up by SoftBank-backed education technology firm 360Learning for some $20m. Looop, which works with fintech giants Klarna and Monzo, as well as retail heavyweight Asos, is 360Learning’s first-ever acquisition. “Now as learning and development grapples with the triple hit of remote work, the Great Resignation, and the [...]
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 [...]
Shortages hit ASOS as Christmas gets closer November 21, 2021 Shortages are reportedly hitting fashion retailer ASOS, forcing the giant to defer orders from suppliers, a few weeks before Christmas. While some suppliers attribute this to labour shortages in the company warehouses, the firm says it is due to the global supply chain crisis, the Sunday Times reported. “We have a robust, professionally organised global [...]
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 [...]
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 [...]
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 [...]
Further oil price gains boosts FTSE 100 October 11, 2021 Further gains in oil prices boosted industrial stocks this morning, lifting the FTSE 100 into positive territory. The capital’s premier index was up 0.12 per cent to 7,104.27 points during the first couple of hours of trading. Industrials led the FTSE higher this morning, with oil megacaps BP and Royal Dutch Shell both climbing more [...]