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.
The retail group owned by billionaire businessman Mike Ashley said it had offered its struggling rival an emergency loan of up to £50 million ($66 million), amid reports that Arcadia could enter administration Monday.
Frasers Group, which owns companies including Flannels, Sports Direct and Jack Wills, also said it had an eye on an acquisition if Arcadia does collapse.
Though Arcadia has seen its sales plummet during the UK’s second lockdown ending this week, it has been struggling for years, one of many retailers to suffer from the rapid rise of nimble digital rivals. It began working to restructure operations in 2019. The group’s collapse would put 13,000 jobs at risk, while a shortfall in its pension scheme means thousands of employees could suffer cuts in their retirement income.
When the American sportswear retailer announced the return of its controversial founder as CEO Wednesday, investors were perplexed. BoF unpacks why Plank may be back — and the challenges that lie ahead in his bid to transform its fortunes.
The category’s biggest brands by market capitalisation report results this week, and will need to show they have a plan to fend off fast-growing competition.
By investing in an elevated product and shopping experience, Spanish retailers Inditex and Mango are seeing tremendous growth despite fierce competition from the likes of Temu and a cash-strapped consumer.
The ByteDance-owned app’s e-commerce play has been met with mixed response from users. Still, sales seem to keep ticking up.