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 collapse into administration of Philip Green’s British fashion group Arcadia was “incredibly sad news” but the government will support those affected, business secretary Alok Sharma said on Monday.
“I know this will be a worrying time for employees and their families, especially in the run-up to Christmas,” Sharma tweeted. “The Govt stands ready to support those affected during this difficult period,” he added.
Sharma said that within three months, the administrators had a duty to file a report on director conduct with The Insolvency Service, which will then determine whether a full investigation is required.
By James Davey; editor: Leslie Adler.
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.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.