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.
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.