Alibaba has invested in luxury online wholesale fashion tech firm Ordre as the three-year-old company positions itself for major growth. Ordre said Alibaba is now “a strategic investor,” but the terms weren’t disclosed.
M&S has added experienced non-exec directors to its board as it prepares to deliver its latest results, with more store closures expected and potential demotion from the FTSE100 if its share price falls further.
Matchesfashion went from strength to strength in the year that it was bought out with revenues up 44% and profits up 34%. And importantly, as much as 82% of its business was generated outside its home market, the UK.
South African retailer Steinhoff , which has been embroiled in an accounting scandal, said its first-half retail revenues rose 1 percent but it still posted a net loss due among others to restructuring costs.
The Sainsbury’s-Asda mega-merger is edging closer to a competition commission enquiry so nothing is certain until approval. But for now, it seems that Asda’s performance overall is improving and its fashion ops are too.
Mothercare on Friday confirmed what everyone already knew - that ousted CEO Mark Newton-Jones was retuning to the company. And it told us how much he will earning with the new CEO joining on a basic salary of £480,000.
Luxury goods group Richemont said on Friday it could target strategic investments and divestments after buoyant jewelry sales made up for still sluggish watch sales, helping sales rise 8% in its fiscal year to March.
Global consumer demand for diamond jewellery hit $82 billion in 2017, up 2% from the previous year, with the US leading growth for the fourth consecutive year, according to a De Beers Group study published on Thursday.
Asda, the British supermarket arm of Walmart that is set to be acquired by Sainsbury’s, reported a fourth straight quarter of sales growth, saying its recovery under new management was gaining momentum.