THG has successfully raised £95.4 million, surpassing its initial target to support the separation of its Ingenuity technology arm.The company garnered strong support from new investors and existing shareholders during the equity raise.Funds were accumulated through various channels, including a significant contribution from existing shareholders and retail investors.Prominent backing was received from the Frasers Group, alongside a personal investment from THG’s CEO.Despite a decrease in group sales, THG reports growth in its beauty and Ingenuity sectors.THG has announced the successful raising of £95.4 million to facilitate the spin-off of its Ingenuity technology branch into an independent company. This fundraising effort…
Author: Dave Antrobus
Recently, several prominent retailers have experienced a notable shift in leadership as numerous CEOs have departed their roles.John Lewis saw Nish Kankiwala step down, transitioning back to a non-executive role to support the new chairman.Andrew Keith of Selfridges exited to pursue new ventures, with André Maeder taking over his UK responsibilities.Matalan CEO Jo Whitfield left to pursue a portfolio career, marking significant progress during her tenure.Mohsin Issa of Asda stepped back to focus on EG Group, amidst strategic store expansion.In a recent wave of CEO turnovers, John Lewis experienced a significant leadership change. Former CEO Nish Kankiwala reverted to a…
In a pioneering move, the renowned conveyancing technology leader PEXA has introduced an initiative in West Yorkshire, aiming to transform the home-buying and selling process through collaboration.PEXA’s initiative seeks to tackle inefficiencies in the conveyancing process by uniting a diverse group of stakeholders under the banner of the Future Property Transactions Group (FPTG). This group comprises fifteen firms, including key players such as law firms, estate agents, lenders including Leeds Building Society and Legal & General, and organisations like the Mortgage Advice Bureau and the Open Property Data Association.The initiative was unveiled at the Leeds Digital Festival, with plans to…
The liquidator of Public Interest Lawyers (PIL) is preparing to distribute payments to creditors following the admission of guilt by the former solicitor Phil Shiner.Phil Shiner, a once respected solicitor, recently admitted to three counts of fraud concerning legal aid applications related to claims against British soldiers. These claims involved alleged mistreatment of Iraqi detainees, further tarnishing Shiner’s reputation.Originally appointed in 2017, PKF Littlejohn Advisory, the liquidator for PIL, announced that it can now commence the process of compensating creditors, which include various government departments. Director Stratford Hamilton indicated that Shiner’s guilty plea confirms the irrecoverability of any funds from…
In 2023, Mondelēz UK experienced a significant drop in its pre-tax profits by 33%, despite a rise in sales.Cadbury, a Mondelēz brand, saw a 9% increase in sales and a rise in pre-tax profits to £42.3m.Overall sales for Mondelēz UK jumped by 13.3%, reaching £2.21bn.The company attributes its turnover increase to strong customer relations and innovative marketing strategies.Mondelēz expanded its portfolio by acquiring a stake in the non-HFSS doughnut brand, Urban Legend.Mondelēz UK, the owner of well-known brands such as Cadbury, Toblerone, and Oreo, reported a significant decrease in pre-tax profits for 2023, depicting a 33% drop to £88.1 million.…
Damart, a Yorkshire fashion retailer, is embarking on a mission to change perceptions with its latest national television and digital campaign.Research revealed that women aged 60-75 felt overlooked in the fashion industry, prompting Damart’s initiative.The campaign aims to empower women by offering inclusive fashion that caters to all shapes and sizes.Collaborations with agencies such as 26PMX, EssenceMediacom, and Sharp ensure a comprehensive outreach.The campaign marks Damart’s return to TV advertising, aiming to engage a broader audience across multiple platforms.Damart, a well-known fashion retailer based in Yorkshire, has launched a national television and digital campaign to change perceived notions about its…
QVC UK has embarked on its first radio sponsorship to enhance its brand visibility.The collaboration with Bauer Media targets Gen X women through Magic Radio and Greatest Hits Radio.Scheduled promotions will feature on weekday and Saturday afternoons with popular presenters.QVC aims to establish itself as the premier destination for Christmas shopping through integrated campaigns.This strategic move utilises first-party data to target audiences across various channels.QVC UK, a prominent multichannel retailer, has initiated its first foray into radio sponsorship to bolster its brand presence in the competitive retail market. This strategic collaboration with Bauer Media is designed to resonate particularly with…
Amid strategic investment in price reductions, Ikea UK’s sales experienced a decline.Overall sales fell by 6.8% to £2.3bn during the last financial year.Significant price cuts were implemented across 33% of the product range, averaging a 20% reduction.Lower service costs, including affordable delivery options, complemented product price drops.Despite the decline, online sales surged, comprising 41.7% of total UK sales.Amid strategic investment in price reductions, Ikea UK’s sales experienced a decline. The renowned homewares retailer made a considered decision to place affordability at the forefront, even as this resulted in a 6.8% drop in sales, reducing revenue to £2.3 billion over the…
Fenwick’s Newcastle flagship has reopened its beauty hall, offering an enhanced shopping experience.The beauty hall spans 26,000 sq ft, featuring expansive atriums and a striking facade.An impressive 50-ft fragrance bar and terrazzo flooring are among the new design highlights.Shoppers have access to 163 beauty brands, including 23 new counters and a unique fragrance concept.This transformation positions Fenwick as hosting the largest beauty hall in the UK outside London.The newly refurbished beauty hall at Fenwick’s Newcastle flagship store offers a fresh and expansive shopping experience. The department now stretches over 26,000 square feet, featuring two newly enlarged atriums that illuminate the…
Serotonin has been appointed as the digital marketing agency for Bella Italia, embarking on a national brand campaign.The campaign, titled ‘Feel Bella’, aims to enhance Bella Italia’s brand awareness through innovative digital and outdoor strategies.The partnership has already achieved over 2 million impressions and significant engagement across social media platforms.Out-of-home advertising in strategic locations has further boosted the campaign’s reach, achieving over 8.5 million impressions.Both parties express enthusiasm for the creative and strategic synergies they have developed.Serotonin has been appointed as the digital marketing agency for Bella Italia, focusing on the rollout of their new national campaign named ‘Feel Bella’.…