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.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.
The performance coach and Allbirds’ co-founder discuss the transformative power of togetherness in fostering a culture of excellence.