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 — Intu Properties Plc on Thursday named Corporate Development Director Dushyant Sangar as chief investment officer, as the shopping centre operator aims to trim debt.
Intu has been looking to preserve cash and reduce debt by selling assets after it became a target of two failed takeover bids last year. The company last week warned of a challenging year amid a string of retail collapses and Brexit uncertainties.
"A key strategic objective for us is making smart use of capital... Dushyant will be key in delivering disciplined capital allocation across the business," Chief Executive Matthew Roberts said.
Since joining in 2010, Sangar has worked on deals worth over £5 billion, including the acquisition of Intu Trafford Centre, and played a key role in Intu's foray into Spain, the company said.
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Sangar previously held roles at MGPA, a private-equity real estate investment advisory company that was bought out by BlackRock, as well as in investment banking at UBS.
By Shashwat Awasthi; editor: Gopakumar Warrier.
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.