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 — Laura Ashley Holdings Plc's chief executive, Kwan Cheong Ng, is stepping down after eight years at the helm, a departure that comes at a time when the clothing and furnishing retailer is trying to turn around its business.
Chief Operating Officer Katharine Poulter will take over the top job from May 1.
Laura Ashley, a favourite of Princess Diana in its 1980s heyday, has been one of the victims of the gloom that has shrouded Britain’s retail sector.
Sales at the company have been hit by store closures, weakness in its home furnishings business and a dampening consumer mood. However, it reported rising like-for-like sales in its fashion business in August, pointing to a resurgence in interest in its styles.
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In October, the retailer replaced Chief Financial Officer Seán Anglim, who had been with the company since 1998, and appointed Sagar Mavani as his replacement.
By Rishika Chatterjee; editor: Saumyadeb Chakrabarty
A US regulator has banned most uses of the clauses, which started as a way for fashion companies to prevent senior executives from walking off with trade secrets, but have become a standard retention tool.
Check out this week’s new partners and openings on BoF Careers, the global marketplace for fashion talent.
BoF Careers provides essential sector insights for fashion designers this month, to help you decode fashion’s creative and commercial landscape.
This week, talent expert Suki Sandhu OBE and advisor and executive search consultant Karen Harvey shared insights on the core skill sets expected of leaders and managers in the fashion industry today. BoF Careers shares key learnings from the event.