The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Ted Baker Plc is facing a revolt against controversial plans to increase executive pay as the company fights for survival, the Sunday Times reported.
Institutional Shareholder Services Inc. recommended that investors vote down the retailer’s remuneration policy at its annual general meeting next week, the paper reported. The advisory firm says the company’s decision to increase executive salaries and bonuses is not justified.
The ISS guidance follows a hugging scandal that forced out Ray Kelvin, founder and chief executive officer last year, and numerous profit warnings. Ted Baker also overstated the value of its inventory by £58 million ($73 million) which led to the departure of Kelvin’s successor Lindsay Page in December. Rachel Osborne, former finance director, is now the chief executive officer.
By Suzy Waite.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.