United Kingdom
Kurt Geiger plans 500 job cuts as UK's intends to end tax-free shopping
The luxury footwear and accessories retailer plans to cut 500 jobs, a quarter of its workforce, early next year after the British government announced that it plans to abolish tax-free shopping by the end of the current year
COVID-19 intensifies Mulberry's losses
The UK-based handbag and accessories retailer has been hit particularly hard by COVID-19. When announcing last year's results, Mulberry confirmed a 10% decline in revenue
Clarks to close 50 stores
Clarks is expected to go ahead with a Company Voluntary Arrangement (CVA) which can result in the closure of several of its shops in order to secure a capital injection from Hong Kong-based private equity firm LionRock, Sky News reported
Nicolas Kirkwood to become independent from LVMH
The British-based footwear designer and the French luxury conglomerate LVMH will go separate paths going forward. LVMH acquired the Nicolas Kirkwood label in 2013
Pentland Brands promotes Chirag Patel to CEO and makes executive team changes
Pentland Brands Limited announced changes to its executive team. The changes include Chirag Patel becoming Chief Executive Officer, having previously served as Deputy Chief Executive Officer
Capri appoints Hannah Colman as Jimmy Choo CEO
Company veteran Hannah Colman has been nominated as Jimmy Coo's new CEO. She started at the brand 24 years ago, as store manager at the brand's first boutique, in London
Capri with revenue down by 66.5%
The UK-based group owner of Versace, Jimmy Choo and Michael Kors has announced first quarter results with a decline in revenue of 66.5%. CEP expects company to be back on growth trajectory in fiscal 2022
DW Sports chain goes into administration
The UK-based chain of gyms and sports retail has confirmed it will enter administration. At risk are 1 700 jobs. Company BDO has been nominated Administrator
Board appointment at Shoe Zone
The England-based footwear retailer Shoe Zone PLC announced it has appointed Peter Foot to the Board of Shoe Zone as Finance Director
Burberry’s sales down by 45% in first quarter
Comparable sales of the Britain-based luxury brand declined by 45% in the first quarter, easing to -20% in June. Growth in Mainland China and Korea in June was ahead of pre Covid-19 levels, with sales of full-price leather goods up strongly in these regions
More changes at Mulberry are underway
Last month, Mulberry announced plans to cut a quarter of its global workforce. Now, the British brand specialized in luxury handbags, should be about to close the offices in Paris and Hong Kong
JD Sports Fashion: reports 3% rise in profit, but predicts uncertain footfall
The sportswear retailer says pace in stores should remain uncertain but believes to be well placed to regain its pre-pandemic momentum after reporting a 3% rise in annual profit
Pentland is cutting jobs and focusing on core brands
The London-headquartered group is the latest fashion and footwear name to implement job cuts amid the coronavirus pandemic- Pentland is preparing a restructure of its strategy
Capri with 70% plunge in first quarter sales
During the first quarter Capri' stores were closed roughly 55% of the period. Given the significant store closures, the gradual recovery in revenue and low wholesale shipments, first quarter fiscal revenue should decline by 70%
T.M. Lewin to close all UK stores
Britain-based menswear brand T.M. Lewin will close all its stores permanently. The brand will remain on the online sphere, its restructurer said on Tuesday-
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