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.
Some 12 percent of votes cast at Boohoo’s annual shareholders’ meeting on Friday opposed the re-election to the board of the British online fashion retailers’ co-founder and executive director Carol Kane.
Ahead of the meeting, investor advisory groups Glass Lewis and Institutional Shareholder Services (ISS) had recommended shareholders vote against her re-election because of concerns over how Boohoo dealt with worker conditions in its supply chain and over executive pay.
Boohoo, which sells clothing, shoes, accessories and beauty products targeted at 16- to 40-year-olds, said 11.96 percent of votes cast at its annual general meeting (AGM) were against the resolution to re-elect Kane, while 88.04 percent were in favour.
“The board is delighted that shareholders have recognised the important and very specific role Carol has on the board with a very strong vote in her favour,” Boohoo said.
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Boohoo’s other co-founder Mahmud Kamani did not face a vote on his re-election this year.
By James Davey; Editor: Michael Holden
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.