Lack of online experience at major luxury brands undermining growth opportunities March 20, 2017 Lack of senior experience in ecommerce and emerging markets could be holding back profitability at top luxury brands, according to research by executive search firm DHR. The study of the world’s top 50 luxury goods businesses found that just five per cent of board members have experience in ecommerce, and only 16 per cent have [...]
More gloom for retail parks and shopping centres but High Street footfall bounces back March 20, 2017 High Street footfall rose 0.1 per cent in February, compared to a drop of 2.9 per cent in the same period last year. The figures, released in Springboard’s monthly footfall report, also showed a small recovery in overall footfall, which fell by 1 per cent in February compared to 1.3 per cent in January. However, [...]
Next expected to reveal first profits slip since financial crisis March 19, 2017 High Street retailer Next is expected to post the first fall in its annual profits since the financial crisis this week. The company is likely to announce that pre-tax profits fell to about £792m when Next releases its results for the year to January 2017 on Thursday. This number could range between £785m and £799m [...]
Unilever is exploring a £6bn sale of spreads brands such as Flora and Stork after Kraft Heinz deal collapse March 19, 2017 Unilever is exploring the sale of some of its most iconic brands after coming under shareholder pressure over a $143bn takeover bid from Kraft Heinz. Paul Polman, the FTSE 100 firm’s chief executive, is drawing up cost-cutting and restructuring plans, which could lead to the sale of its margarine and spreads business. The division, comprising [...]
Apple’s British design chief Jonny Ive invests in tech accessory startup that counts Victoria Beckham and Beyonce among customers March 19, 2017 A London-based phone case startup, that counts Victoria Beckham and Beyonce as customers, has attracted investment from Apple's British design chief Sir Jonathan Ive. Chaos, a fashion consultancy run by Charlotte Stockdale and Katie Lyall, has launched a tech accessory division which includes products like a £185 personalised initial case and a £170 phone cover that has [...]
No playing around: Monopoly bins the thimble, wheelbarrow and boot tokens for the new T-rex, penguin and rubber duck March 18, 2017 Remember the Monopoly days of the boot, thimble and wheelbarrow? Well those days are no longer, as the three unloved tokens have got the boot from the latest edition of the board and are being replaced by a Tyrannosaurus rex, a penguin and a rubber duck which will be available in new editions from August. Say [...]
House of Fraser is opening champagne bars in stores and getting rid of clothing brands Episode, Therapy, Grey & Willow and Dickens & Jones March 17, 2017 House of Fraser is attempting to reinvigorate its in-store experience by installing champagne bars and trimming the number of clothing brands it offers. The department store, which has spent £90m on store refurbishments in the past two years, is ridding itself of 30 clothing brands. Read more: House of Fraser CEO Nigel Oddy resigns as Christmas trading [...]
It’s not rocket science: Budweiser announces plans to create an anti-gravity beer to bring to Mars March 17, 2017 Budweiser is planning for the future by brewing Martian beer. The beer company has joined the space race and wants to be the drink of choice for possible future trips to Mars. It is planning to craft a beverage that will react the same way beer usually does, with the bubbles rising and the foam [...]
Demeter Fragrance Library has launched a cat perfume called Kitten Fur to remind you of your favourite feline friend March 17, 2017 Demeter Fragrance Library, a New York-based perfume company, has just released their best scent yet: kittens. The Kitten Fur formula was 15 years in the making and the company has said it “has captured the olfactory essence of the warmth and comfort of that purrfect spot, just behind a kitten's neck.” Read more: Alibaba's recruiting [...]
Sainsbury’s share price dips after it warns of “uncertain” inflation impact and “competitive” conditions as retail sales decline March 16, 2017 Sainsbury’s reported retail sales excluding fuel fell in the last quarter and said it faced an “uncertain” impact from rising costs and warned the market environment remains competitive. Shares in Sainsbury's dipped as markets opened to lows of 263p, but recovered some of their gains to a loss of around one per cent at the [...]