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 — Sports Direct, the sportswear retailer owned by British billionaire Mike Ashley, has sold the freehold to its Shirebrook logistics centre to Malaysia's Employees Provident Fund for just over £120 million ($152 million) in cash.
Sports Direct, which will take a 15-year lease on the property, said the proceeds would be used for group operations and to boost its working capital.
Malaysia's Employees Provident Fund said in a separate statement it was attracted to the assured income stream the acquisition would generate, and as such the deal would complement its British property portfolio.
By Paul Sandle and Liz Lee; editors: Kate Holton and Jason Neely.
On Friday 29 September, The BoF 500 Class of 2023 will be unveiled. To mark the occasion, The Business of Fashion sat down with four members of The BoF 500 to discuss how they are shaping the future of the industry.
Joining an already outstanding lineup including Chanel’s global chief executive officer Leena Nair, Bottega Veneta’s creative director Matthieu Blazy, and John C. Jay, president of global creative of Fast Retailing, we are delighted to reveal the latest roster of speakers joining us at BoF VOICES 2023.
Walmart and Centric Brands are investigating their supply chains in Cambodia over allegations that inmates at the country’s largest women’s prison were illegally employed to produce garments for export.
Nike is facing increased demands to sell a Mary Earps shirt after the England player saved a penalty in the World Cup final and was named the tournament’s best goalkeeper.