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.
Mike Ashley’s Frasers Group said on Monday it would close its House of Fraser store in Edinburgh in May, with the loss of 200 jobs, after failing to agree a deal with the site’s owner to continue its tenancy.
“Despite the global pandemic, numerous lockdowns and the turbulence caused for British retail, the landlord hasn’t been able to work mutually on a fair agreement, therefore, resulting in the loss of 200 jobs and a vacant site for the foreseeable future with no immediate plans,” Frasers, formerly Sports Direct, said in a statement.
“Our commitment to our Frasers strategy remains but landlords and retailers need to work together in a fair manner, especially when all stores are closed,” it said.
News of the store’s closure came on the same day it was announced that all Debenhams department stores will close this year.
Online fashion retailer Boohoo has purchased the Debenhams brand but not the stores, meaning 12,000 jobs are set to be lost.
By James Davey; editor: Kate Holton.
The company’s recent introduction of a marketplace model has led to a flood of listings for new, high-end goods by third-party sellers. Some brands aren’t happy, but there may not be much they can do.
A new study from Trove and Worldly found that if luxury and outdoor apparel brands can grow their resale offering to account for a quarter of total revenue, then they can substantially reduce carbon emissions. Fast fashion, not so much.
The US Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon on Tuesday, charging the online retailer with harming consumers through higher prices in the latest US government legal action aimed at breaking Big Tech’s dominance of the internet.
Malls across the US have been ‘flash robbed’ by groups of about 20 to 30 suspects stealing retail merchandise.