Burberry reportedly seeking new chairman amid boardroom shake up

New Bond Street flagship store. Credits: Burberry.



Days after the announcement that its former CEO was being replaced by Joshua Schulman, it is now being reported that Burberry is also seeking a possible successor to its current chairman, Gerry Murphy.


While an exact departure date for Murphy has not yet been cemented, it is believed that an “indirect hunt” has been launched in a bid to find someone to take his place, as alleged by sources for Sky News.


According to the media platform, the company is working with headhunters to bring forward two new non-executives to contend in the replacement of Murphy, who has held the chairman position of Burberry since 2018 and serves in the same position at supermarket giant Tesco.


The report comes just one week on from the revelation that Jonathan Akeroyd had been ousted from the CEO position, with Burberry instead turning to former Jimmy Choo head Joshua Schulman.


With the appointment, the struggling luxury retailer is hoping to turnaround its currently lacklustre financial performance that has led to a sales decline of 12 percent in the first quarter of 2024 and the scrapping of hundreds of jobs across the business.


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SCS Global Services names new chief executive officer

SCS Global Services, a global leader in third-party environmental and sustainability certification, auditing, testing and standards development, has appointed Matthew Rudolf as its new president and chief executive officer.


Rudolf is described as a “talented executive” who has risen through the ranks of SCS since joining the company in 2016, building its energy, biomass and circularity division, serving as vice president of international business development, and part of the company’s operations council and leadership team.


Jim Knutzon, chairman of the board and outgoing acting CEO, said in a statement: “As we pass the torch from company founder, Dr. Stanley Rhodes, who built the company from the ground up with a pioneering vision, singular talent, and dedication to protecting people and the planet, the board is confident that Matt has what it takes to successfully lead SCS through the next chapter of its growth and service.”


Headquartered in Emeryville, California, US, SCS is celebrating 40 years in business and has representatives and affiliate offices throughout the Americas, Asia/Pacific, Europe, and Africa. Its programmes span a cross-section of industries, recognising achievements in climate mitigation, green building, product manufacturing, food and agriculture, forestry, and consumer products.


Commenting on this appointment, Rudolf added: “SCS has always stood out in the testing, inspection and certification (TIC) sector as a sustainability champion, developing innovative standards, conducting the highest quality third-party certification assessments, and providing a roadmap for companies seeking to improve people’s lives and protect the environment.


“Our strength is in the expertise, experience and deep commitment of our team in service of our common vision. I look forward to expanding our services for even greater impact in the future.”


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Radar appoints new chief technology officer

Radar, the AI-powered technology platform that combines RFID and “computer vision technology” to track and locate in-store inventory, has appointed Zach Little as its new chief technology officer.


Little, an Apple and Microsoft veteran with over two decades of experience will oversee all Radar product development initiatives. He will report directly to chief executive Spencer Hewett.


Former chief technology officer Paul Petrus will continue to be a senior advisor to the company as one of Radar’s largest stakeholders.


Commenting on the appointment, Hewett said in a statement: “Zach is a respected leader who combines technology expertise and the ability to get large hardware and software engineering teams to move in unison to accomplish business goals with lightning speed.


“His unique skill set and strategic mindset make him an ideal fit for Radar.”


In addition, Radar also appointed Morgan Levine, a former vice president of legal and compliance at Farfetch, as general counsel, reporting to Eric Mogil, chief growth officer.


Mogil added: “Morgan’s deep experience and expertise in both retail and technology organizations make her an excellent partner to our executive team and board as we continue to scale Radar into a global market leader in retail technology.”


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Puig to conquer Asia: heading for 3 new markets

Marc Puig, executive president of Puig, during the “campaign hat” ceremony that celebrated Puig's admission to the Bolsa de Barcelona, ​​on May 3, 2024. Credits: Puig.



Puig, the Spanish perfume and cosmetics giant, is set to conquer Asia. The recent opening of subsidiaries in India, Japan and South Korea signals the time for an ambitious offensive, which positions Puig as a major player in this region with immense potential.


A new chapter for Puig in Asia
In 2023, Puig set up shop in South Korea by creating its' own local subsidiary. This year, it's India and Japan's turn to see the arrival of the group. The opening of subsidiaries in these three markets is a real strategic coup. These countries, in full economic growth, are indeed seeing their middle class expand.


Asia-Pacific, a strategic market for Puig




Asia-Pacific already represents 10 percent of Puig's total sales, as Marc Puig, the group's president, pointed out in an interview with the Spanish economic daily Expansión. EMEA (Europe, Middle East and Africa) remains the main market with 54 percent of sales, followed by the Americas (36 percent).


Due to it's far more mature relationship with Europe and the Americas (respectively 54 and 36 percent of sales), Asia is full of untapped potential.


Despite a temporary slowdown in China due to the pandemic, Puig remains confident in its development potential in Asia.


Subsidiaries already present in China, Singapore and Malaysia




In addition to its new locations, Puig already has a solid presence in Asia with subsidiaries in China, Singapore and Malaysia.


With a turnover of more than 4 billion euros in 2023, Puig is positioning itself as one of the world leaders in the beauty sector, according to the media FashionNetwork. With its portfolio of prestigious brands (Paco Rabanne, Carolina Herrera, Jean Paul Gaultier, Viktor & Rolf...), Puig intends to shake up the Asian market.


Puig's presence in India, Japan and South Korea should help boost the group's growth in the coming years. These markets offer significant development potential, driven by a growing middle class and a growing appetite for quality beauty products. By establishing a local presence, Puig will be able to better understand the needs and preferences of its customers in these three key markets, offering them a range of products that are perfectly adapted to their expectations.


This article was originally published on FashionUnited.FR, translated and edited to English.


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Inditex set to bring Bershka to India this November

Bershka Barcelona storefront. Credits: Bershka.



Inditex-owned Bershka is believed to be close to debuting in the Indian market following the success of its sister brands Zara and Massimo Dutti in the region. A source for India Retailing told the industry publication that the brand’s first store is scheduled to open November 1 within the Phoenix Palladium mall in Mumbai.


While the media outlet had already speculated this next move for Bershka back in 2022, parent company Inditex had only just confirmed such plans in its latest annual report, in which it stated that it was pursuing India for both a Bershka and Zara Home expansion. India Retailing added that such efforts could also extend to Pull&Bear, for which Inditex is believed to be mulling a 2025 debut.


Inditex had first entered India as a whole in 2010 with its core Zara brand, which quickly experienced widespread and profitable success in the country, evidence of which continued into FY24. With its growing population of young consumers, India has slowly become a point of interest for such brands, making it a lucrative region for global expansion plans for international names.


The likes of Shein, Asos, Next and Tendam, for example, have each recently confirmed entry into the market, largely through partnerships with third-party giants, such as Reliance Retail or Myntra which typically oversee online and physical store operations. Others like H&M and Uniqlo have already existed in India for lengthy periods of time, and have also set about further expansion plans for the year ahead.

Read more:



* Next to open stores in India through new Myntra deal






* Asos confirms India entry with Reliance Retail partnership






* Shein to reportedly launch in India via Reliance Retail deal






* Uniqlo on expansion in India, preview of first Mumbai store






* SMCP expands into India with Reliance Brands






* Tendam enters India through strategic partnership with e-tailer Myntra


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Frasers Group reportedly snaps up indie retailer Thackerays

Flannels X Oxford Street, London Credits: Flannels



British retail giant Frasers Group, owner of Flannels and Sports Direct, has continued in its pursuit of gaining market share in the independent space through the reported acquisition of multi-brand indie retailer Thackerays.


Frasers takeover of the company, which was founded in 1972, was initially reported by TheIndustry.Fashion citing industry sources, and adds to the group’s growing portfolio of similar names.


Thackerays operates a store on Wellingborough Road in Northampton and has its own e-commerce channel, both of which offer a number of premium brands such as Free People and Ganni.


It's the latest addition in Frasers expanding collection of independents, with the group having recently snapped up Sunderland-based Aphrodite, small chain operator Zee & Co and menswear retailer John Anthony.


The company itself has been in pursuit of securing a larger presence in the premium retail space, such efforts of which could already be seen back in 2020 when it snapped up stakes in Mulberry and Hugo Boss as part of an elevation strategy aimed to position itself in the up-market segment.


Since, however, the company’s strategy appeared to have shifted towards a more aggressive and expansive portfolio expansion, as the group began securing smaller or struggling rivals such as I Saw it First, acquiring a number of brands from JD Sports, and further stakes in the likes of Asos and Boohoo.


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Sosandar plans 50 store openings over next five years

Credits: Sosandar, Facebook



In light of a slowing in e-commerce sales among the wider fashion industry, the online retailer Sosandar is set to enter the brick and mortar market with an ambitious nationwide expansion plan.


Speaking to The Times, the retailer’s co-CEO, Julie Lavington, revealed that the company was “targeting around 50 [stores] in total” over the next three to five years.


Sosandar had already partially outlined its plans for physical retail in its FY24 financials, in which it reported a revenue increase of 9 percent to 46.3 million pounds.


In the publication, the company revealed that it had appointed a head of retail, head of retail operations and visual merchandiser to help build on the retail concept.


It further announced the locations of its first two stores, Marlow and Chelmsford, both of which are expected to open in September, with more to follow within the current calendar year.


Mirroring the mission set out in the financial report, Lavington noted that Sosandar was eyeing affluent market towns and cities where its customers over-index, bolstering the company’s goal of becoming a “true multi-channel retailer”.


The transition to physical retail comes as a response to demand from customers, Lavington noted, with “virtually 100 percent of them” wanting the retailer to exist both in-person and online because “they like to be able to do both”.


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Dubai Fashion Week to return in September

Dubai Fashion Week - Maison Sara Chraibi Credits: Dubai Fashion Week



Dubai Fashion Week (DFW), co-founded by D3 and the Arab Fashion Council, has announced it will return for spring/summer 2025, ahead of New York Fashion Week from September 1 to 7.


The preliminary SS25 schedule features more than 30 established and emerging designers from France, India, Indonesia, Italy, Kuwait, Lebanon, Libya, Malaysia, Palestine, Russia, the UAE and the UK.


They will showcase streetwear and haute couture collections alongside internationally acclaimed guest designers, which will be announced shortly. In the past, the guest designers have included Carolina Herrera designed by Wes Gordon, Iris van Herpen, Jean Paul Gaultier, Antonio Marras, Blumarine, and Moschino.


DFW will be held at Dubai Design District (D3) alongside a wider citywide events calendar featuring 40 invite-only presentations, private dinners and collection launches hosted by global brands and industry stakeholders.


Dubai Fashion Week – Weinsanto Credits: Dubai Fashion Week



The first three days of DFW SS25 will focus on haute couture collections and the final three days will showcase ready-to-wear collections by designers such as Alia Bastamam, April & Alex, Benang Jarum, BLSSD, Lama Jouni, Mrs. Keepa, Dima Ayad, Born in Exile, Buttonscarves, Choice, Heaven Lights, Riva, Viva Vox, and Weinsanto, presented and supported by the Fédération de la Haute Couture et de la Mode, the governing body behind Paris Fashion Week.


The last day of the calendar will focus on private appointments and a buyers' market.


Dubai Fashion Week adds buyers programme for SS25 season




Khadija Al Bastaki, senior vice president of Dubai Design District (D3) – part of TECOM Group, said in a statement: “Dubai is the pulsating heart of fashion in the region, and Dubai Fashion Week is disseminating its rhythm globally. The collections and designers displayed on our runway inject diversity into the global fashion dialogue and demonstrate the powerful talent emerging within our region.


“DFW has unveiled incredible opportunities, partnerships and global networks to participating designers and buyers, and we look forward to pushing the envelope further with this latest edition that includes a new buyer’s platform, an expanded venue, more events and an extended schedule of designers. Dubai Fashion Week will once more raise the bar for fashion excellence and cement Dubai among the global fashion capitals.”


Dubai Fashion Week – BLSSD Credits: Dubai Fashion Week



Also making its debut for SS25 is the International Buyers Programme, which will enable retailers worldwide to enrol in DFW’s ‘Tier Benefits’ to expand buyers’ reach and talent discovery.


Mohammed Aqra, chief strategy officer of the Arab Fashion Council, explained: “A key objective of our Buyers Programme is to foster meaningful connections between global retailers and the innovative designers that Dubai Fashion Week showcases.


“The positive feedback from the global fashion industry highlights the importance of the platform in the international arena. We are committed to supporting the fashion ecosystem by creating opportunities for designers and retailers alike.”


DFW’s strategic media partner, Meta, will also return with ‘Threads Talks V3.0,’ a series of innovative panel discussions and exclusive seminars focusing on current fashion trends and challenges from the perspectives of global and regional buyers, C-suite executives, and brand consultants for a comprehensive and engaging dialogue.


Dubai Fashion Week – Dima Ayad Credits: Dubai Fashion Week


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Cotton Traders reports decline in sales and profit

Cotton Traders Credits: Cotton Traders



British heritage fashion brand, Cotton Traders delivered a turnover of 109.4 million pounds, down slightly by 1.7 percent, an operating profit of 9.8 million pounds, down 9.9 percent and EBITDA of 11.57 million pounds, down 7.9 percent for the financial year 2023 in the face of inflation and the cost-of-living crisis.


Commenting on the company’s annual trading, Cotton Traders CEO Nick Hamblin said: “The cost-of-living crisis has resulted in low consumer confidence and macroeconomic turmoil and we are so proud our customers remain loyal to the Cotton Traders brand despite the wider economic challenges. Continued customer retention, combined with an 11 percent increase in app sales and a growth in online penetration year on year are all testament to the success of our wider growth strategy.”


In a statement, the company said that Cotton Traders credits its consistent performance to a combination of heavily invested, digital-orientated marketing activity, a 0.9 percent growth in active customer retention and investment into the brand’s physical stores.


2023 saw Cotton Traders extend its partnership with TV star Will Mellor, and the introduction of two new female celebrity partnerships: Broadcaster Alex Jones, and ‘A Place in the Sun’ Presenter, Jasmine Harman.


The company added that online penetration grew 2.6 percent with website sales up 6.2 percent and app-based sales up 11.1 percent versus 2022.


The menswear category saw sales of shirts increase 20 percent and knitwear up 11 percent. The womenswear category increased 10 percent driven by 7 percent increase in purchases in women’s trousers, 13 percent rise in woven tops, and significant range extensions in Cotton Traders’ underwear and loungewear ranges.


During the year under review, Cotton Traders witnessed 21.5 percent of its sales directly coming from stores, up 0.6 percent year-on-year and orders in-store growing by 11.4 percent. As part of the brand’s investment strategy, ten new stores opened, two stores relocated to increase space, and nine stores were refitted – resulting in 81 stores at the end of the year.


“We’re looking forward to the next year which will see us implement our marketplace growth strategy, something we’ve already experienced success with through our full year of trading on Debenhams.com and soft launching on Freemans.com late last year,” added Hamblin.


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Inter Milan and Canali sign three-season partnership

Sketches of the Canali suiting as Inter Milan’s official formal wear partner Credits: Canali



Italian football team Inter Milan has signed a three-year collaboration with men’s tailoring brand Canali to become its official formal wear partner.


The partnership, which begins with the 2024-25 football season, will see Canali dressing Inter Milan’s first-team players in two formal outfits.


Sketches of the Canali suiting as Inter Milan’s official formal wear partner Credits: Canali



For spring, the players will wear a four-pocket cotton gabardine safari jacket with drawstrings, a lightweight knit t-shirt, soft trousers, and suede moccasins, all in sand and Canali's iconic Brianza green. For winter, the outfit will feature a diamond-quilted bomber, a hand-sewn double fabric overshirt, a merino wool turtleneck, loose-fit trousers, and a moccasin with a natural rubber sole.


In addition, Canali will dress Inter Milan coach Simone Inzaghi, his management team, and club staff in a wool suit with a shirt, merino wool pullover, and jacquard silk tie, as well as a three-quarter-length padded overcoat in soft-touch nylon.


Sketches of the Canali suiting as Inter Milan’s official formal wear partner Credits: Canali



Each piece will feature the Canali logo and the Inter emblem integrated within the brand's arrow graphic, specifically redesigned and adapted to the garment colours “as a patch that is always visible yet never intrusive”.


The deal marks Canali’s first foray into football and comes as the Italian fashion brand celebrates its 90th anniversary this year.


Sketches of the Canali suiting as Inter Milan’s official formal wear partner Credits: Canali


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LVMH-owned L Catterton snaps up Value Retail stake for 1.5 billion pounds

A digital iteration of Bicester Village as part of the retailer's collaboration with metaverse shopping platform Emperia. Credits: Emperia x Bicester Village.



A newly formed company under the banner of private equity firm L Catterton has snapped up a stake in Value Retail, the owner of UK retail destinations like Bicester Village, which had formerly been held by British property firm Hammerson.


The deal, which will see Value Retail transferred to Silver Bidco Limited, a Jersey incorporated firm established by affiliates of L Catterton, amounts to an enterprise value of 1.5 billion pounds, generating 600 million pounds in cash proceeds for Hammerson.


The retail giant said the proceeds from the “disposal” of Value Retail would support a reduction in net debt, a reinvestment into assets of its core market that yield higher returns and a return of capital to shareholders via a buy back of up to 140 million pounds, representing 10 percent of its market capitalisation.


Hammerson said the sale, which remains subject to customary antitrust approvals and is expected to be completed in the second half of 2024, reflected the “best interests of shareholders as a whole”.


In a regulatory filing, Hammerson CEO, Rita-Rose Gagné, called the deal “transformation” for the firm that removed a “low yielding and minority stake” to help position the company for “accelerated growth”.


Hammerson to use ‘transformational’ disposal to refocus on higher yielding business




Gagné added: “The disposal focuses our portfolio on prime urban real estate with a transformed capital structure and the capacity and capability to advance our strategy in higher yielding opportunities with stronger returns, whilst enhancing returns to shareholders.”


As such, Hammerson is continuing to accelerate its strategic mission of becoming a “retail-anchored” firm positioned for growth through a “portfolio comprising leading city centre destinations”.


Meanwhile, Michael Chu, the global co-CEO of L Catterton, which is jointly owned by luxury giant LVMH and Groupe Arnault, said: "With its high quality portfolio, reputation for luxury, and commitment to delivering a distinctive experience to customers, Value Retail is well positioned for growth and continued success.


“We have deep experience investing in luxury retail, and we are eager to leverage our operational expertise and global network of established relationships to partner with Value Retail and propel the business forward."


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Fashion, home and healthcare firm Damartex posts decline in annual revenues

Damart Credits: Facebook/Damart



French firm Damartex closed the 2023/2024 financial year with revenue of 529.2 million euros, down 9.9 percent at actual exchange rates and 10.2 percent at constant exchange rates versus the previous year.


While the group, active in fashion, home & lifestyle and healthcare across eight brands under its fold, continues to work on improving its operating profitability, it expects net profit for the year to be impacted by exceptional items.


The company having presence in nine countries around the world, said in a release that sales for the second-half were 236.3 million euros, down 7.7 percent at actual exchange and 8.4 percent at like for like exchange rates reflecting both a business impacted by macroeconomic and political instability and contraction in consumption as well as targeted commercial investments. Its main markets are France, Great-Britain, Belgium and Switzerland.


The company added that the fourth quarter was particularly constrained for the fashion and healthcare divisions, while sales in the home & lifestyle division tended to stabilise. Damartex closed its final quarter with revenue of 105.3 million euros, down 10.4 percent at actual exchange and 10.9 percent at like for like exchange rates.


The fashion division posted revenue of 396.2 million euros for the financial year, down 9 at actual exchange and 9.3 percent at like for like exchange rates. The company further said that with sales down 10.2 percent at actual exchange rates, the Damart brand was penalised by a drop in consumption, in particular due to poor weather conditions in the last quarter impacting the entire textile sector. The Xandres brand sales were up 6.8 percent at actual exchange rates for the year.


The home & lifestyle sales reached 99.2 million euros, down 10.6 percent at actual exchange and 11.1 percent at like for like exchange rates. While the 3Pagen brand remained stable, Coopers of Stortford declined, in a context of persistent economic and political tensions in the English market.


Healthcare revenue was 33.7 million euros, down 17.9 percent at actual exchange and 18 percent at like for like exchange rates. Santéol, a home healthcare provider specialising in respiratory assistance, closed the year with revenue up 9 percent at actual exchange rates compared to the previous year. The division was particularly impacted by the underperformance of catalogue sales of homecare accessories under the Almadia brand.


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