Significant shifts have occurred within prominent fashion retail companies this week.Boohoo Group has appointed Tim Morris as independent chair, while Frasers criticises the move.Champion has named Maurizio Donadi as its new creative director, effective from December.Cédric Charbit returns to Saint Laurent as CEO, amidst Kering’s leadership changes.Alexandre Arnault takes a new role at LVMH, assuming the position of deputy CEO in the wines and spirits division.A wave of leadership changes in the fashion retail sector has been observed over the past week, with some of the industry’s most renowned companies making headline-worthy appointments. The Boohoo Group’s boardroom adjustments include the…
Author: Dave Antrobus
Scotland’s major creative force, Lane and Lane Media, reports a 15% increase in turnover year-over-year.The firm, with centres in Edinburgh and Glasgow, reached £7.8m turnover in 2023.New clients in e-commerce, tech, and the arts are critical to this growth.B Corp status achieved, showing commitment to sustainable practices.CEO cites reduced environmental impact as a key objective.Lane and Lane Media, recognised as Scotland’s largest integrated creative and media agency, has demonstrated significant financial growth with a reported 15% increase in turnover compared to the previous year. Located in both Edinburgh and Glasgow, the agency has effectively capitalised on its strategic position in…
This week, Tesco announced significant price cuts on more than 200 essential products in its Express convenience stores, aiming to provide better value for customers amidst rising living costs.Tesco has reduced the prices of over 200 items, including both own-brand and branded products such as milk, bread, pasta, and coffee, by an average of 10%. This move is part of a broader strategy that has seen over 2,800 price reductions across its outlets in recent months. A four-pint bottle of milk will now retail at £1.45, and 300g chicken breast portions have been reduced by 25p, bringing the price down…
Sarah Alcock has taken on the role of Client Services Director at Ponderosa, bringing over 25 years of experience to the agency.Alcock’s career spans both in-house and agency roles, with positions at ScS, Drummond Central, and Woven Agency.According to CEO Richard Midgley, Alcock’s expertise in digital and e-commerce will benefit Ponderosa’s growing client base.Sarah Alcock will focus on driving commercial growth and guiding the client services teams.Alcock expressed excitement about joining Ponderosa, citing the talented team and the opportunity to deliver impactful campaigns.Sarah Alcock has joined Ponderosa as its new Client Services Director. With more than 25 years of industry…
Unilever has halted its plans to sell its ice cream business, opting instead for a potential independent spin-off.Unilever, the global food and beverage company, has abandoned its intention to divest its ice cream division, currently valued at £15 billion. This change in strategy comes amid the company’s ongoing efforts to become more efficient and accountable. Initially, Unilever announced in March its plan to separate this segment from its core operations. However, challenges related to the magnitude of the brands within the division, including Magnum, Wall’s, and Ben & Jerry’s, made finding a suitable buyer difficult.Despite the withdrawal from selling, the…
Retail giant Lidl pledges to keep prices low despite rising National Insurance costs.Lidl’s CEO, Ryan McDonnell, faces additional expenses of tens of millions due to new tax changes.The retail industry anticipates a £7 billion surge in costs, with significant impacts across major chains.Increased National Insurance and other levies could lead to job losses and unavoidable price hikes.Despite industry-wide challenges, Lidl aims to remain competitive in its pricing strategy.Lidl’s CEO, Ryan McDonnell, announced that the company will strive to maintain its competitive pricing even as it grapples with substantial new costs. These arise from the recent adjustments to National Insurance contributions…
The recent government economic measures have sparked criticism from the retail sector.John Lewis boss, Nish Kankiwala, describes the government’s actions as a ‘two-handed grab’ from businesses.Increased national insurance contributions and delayed business rates reform are set to impact UK businesses.John Lewis faces significant additional costs due to these measures, prompting concern among stakeholders.The company plans to mitigate price impacts on consumers amidst rising inflation.The UK government’s recent economic adjustments have drawn sharp criticism from Nish Kankiwala, the head of John Lewis Partnership. He described the measures as a “two-handed grab” due to their significant impact on businesses.Kankiwala highlighted concerns over…
Lidl has reported a significant turnaround in its financial performance, transforming a substantial loss into a notable profit within one year, marking it as the fastest-growing supermarket in the UK.Former Retail consultant, Matthew Nobbs, attributes Lidl’s success to improvements in efficiency and a renewed focus on its operating model. These changes have not only attracted new customers but also enabled Lidl to expand its store network through innovative financing models. In contrast, Aldi, its main competitor, has shown slower growth.Nobbs emphasises that Lidl’s strategy involves enhancing customer experience and maintaining strong value propositions. This approach is underpinned by a commitment…
Boohoo Group has made significant changes to its board amid calls for leadership restructuring by Frasers Group.Tim Morris has been appointed independent chair, stepping up from his previous role as non-executive director.Mahmud Kamani has transitioned to the role of vice chair as part of the board’s restructuring.Frasers Group, holding a 28.1% stake in Boohoo, has been vocal in its criticism of the leadership.The company has addressed shareholder concerns, voting against Frasers Group’s proposed board changes.Boohoo Group has strategically restructured its leadership amidst pressure from Frasers Group, who holds a notable portion of Boohoo’s shares. Tim Morris, previously a non-executive director…
Frasers Group has urged Boohoo shareholders to replace executive chairman Mahmud Kamani with Mike Ashley.In an open letter, Frasers Group criticises Boohoo’s performance and leadership, calling for change at the upcoming shareholders’ meeting.The company highlights Boohoo’s financial challenges and supply chain issues as key reasons for the proposed leadership overhaul.The legal stance supports Frasers’ position, ensuring no competition law violations in their demands.Boohoo has responded by appointing Tim Morris as independent chair, splitting Kamani’s role to maintain day-to-day operations.Frasers Group has intensified its campaign for leadership change at Boohoo, addressing shareholders through an open letter. The group insists that Mahmud…