Author: Sam Allcock

A new pilot scheme aims to test the viability of a four-day working week.In 2022, 30,000 employees across over sixty companies trialled a shorter working week, with significant positive feedback.54 companies from the previous trial have continued with the four-day week model.The new trial will involve 3,000 employees from 50 smaller businesses, working 80% of their hours for full pay.Concerns exist about potential stress due to unchanged productivity expectations.The new pilot scheme for a four-day working week is poised to begin, marking a significant step in evaluating the effectiveness and practicality of such a work schedule. The trial follows a…

Club L London has appointed Richard Wing as the new Chief Financial Officer (CFO), aiming to steer the company into its next phase of global growth.Richard Wing, previously the group finance director at Club L London, has been promoted to CFO, succeeding Karl Lloyd.Wing’s background includes significant roles at THG Ingenuity, Ladbible, and Missguided, adding valuable experience to his new position.Under Wing’s leadership, Club L London plans to launch dedicated websites in new markets, following the recent launch in Canada.The company boasts a 96.87% compound annual growth rate, positioning itself as a leading affordable luxury fashion house.Richard Wing has been…

Nick Beighton, former CEO of Asos, shared insights on Shein’s business model during the Source Fashion show in London.Beighton described Shein’s approach as both ‘genius’ and a cause for concern due to their production standards and transparency issues.The Source Fashion event highlighted sustainable sourcing, attracting over 300 exhibitors and thousands of attendees from top brands.Joanna Mourant from Next discussed the retailer’s sustainability progress, aiming for 100% responsible cotton sourcing by 2025.The show announced plans to expand in 2025 to accommodate growing interest in sustainable fashion innovations.Nick Beighton, renowned for his tenure as CEO of Asos, addressed the growing influence of…

Adidas has once again raised its profit guidance for 2024, highlighting strong business performance.The company’s full-year profit forecast now stands at €1bn, showing significant growth from previous estimates.A 9% revenue increase in Q2 2024 played a key role in this optimistic outlook.A considerable contribution from former Yeezy inventory sales further boosted Adidas’s earnings.Adidas severed ties with the Yeezy brand amid controversies involving its founder, Ye.Adidas has surprised the market by raising its operating profit guidance for the second time this year, displaying remarkable business momentum. The company’s forecast for the entire year has now been revised to €1 billion, reflecting…

The Office for National Statistics (ONS) reports a decrease in inflation due to women’s sportswear.In June 2024, consumer price inflation held steady despite falling clothing costs.Prices for women’s sports shorts and leggings contributed significantly to this decrease.Clothing and footwear prices experienced a 1.2% monthly drop in June.Continued retail competition and a stronger pound aid in lowering essential goods prices.The Office for National Statistics (ONS) has observed that women’s sportswear, particularly sports shorts and leggings, is significantly contributing to the reduction of inflation in the clothing and footwear sector. These items have been recognised for making particularly strong downward contributions to…

The legal industry’s ‘missing middle’ problem affects data management and efficiency.Firms struggle to capture key matter data and manage complex legal projects effectively.Centralised data storage is crucial for reporting, AI use, and data security.Generative AI offers opportunities but relies on secure and accessible data.Lexis Everyfile provides a solution to these challenges, offering a unified data platform.In the legal industry, the ‘missing middle’ problem refers to challenges in capturing key matter data alongside lawyer knowledge and know-how, managing complex projects, and improving efficiencies. This issue is significantly impacting firms’ abilities to effectively manage and utilise data.A centralised repository for storing matter…

Navigating the demands of parenthood while maintaining a remote work career presents unique challenges and opportunities. Strategic planning and flexibility are essential to achieving balance between professional and family responsibilities.Leveraging technology can enhance productivity and allow for greater family engagement while working remotely.Viewing challenges as growth opportunities helps in developing vital time management skills to balance parental and professional duties.Implementing childproofing measures in home workspaces ensures a safe environment for both work and childcare.Designing a structured daily schedule helps to allocate time for work, children, and self-care effectively.Successfully balancing the dual demands of parenthood and a remote work career requires…

Navigating the economic challenges, UK businesses are adapting their hiring practices, revealing diverse strategies in response to instability.82% of businesses maintain open discussions about economic impacts with employees, though methods vary.25% of surveyed business leaders have implemented redundancies due to economic strains, while 19% halted hiring.Alternative staffing solutions are embraced, with 35% citing their effectiveness in maintaining flexibility.Prioritisation of employee performance and productivity guides hiring decisions amidst financial constraints.The economic instability in the UK is prompting businesses to reevaluate their hiring practices. A recent survey conducted by a digital staffing agency has highlighted that a significant 82% of UK companies…

Sosandar, the renowned womenswear brand, has announced its expansion with new store locations and reported notable financial performance.The brand’s revenue saw a 9% increase, reaching £46.3 million by the end of March 2024, driven by sales in partywear, dresses, and knitwear.Despite reporting a small loss for the year, Sosandar experienced a profitable second half, demonstrating financial resilience.The introduction of stores in Marlow and Chelmsford marks a strategic move to enhance customer reach across the UK.Looking forward, Sosandar aims to sustain growth in gross margin and cash generation, focusing on strategic expansion and partnerships.Revenue for Sosandar increased by 9% to £46.3…

Pangaia has officially opened its first standalone store in the UK, located on London’s iconic Carnaby Street. The store features a minimalist design and a focus on sustainability, showcasing Pangaia’s commitment to eco-friendly practices. Visitors can expect a harmonious blend of nature-inspired elements within the store’s interior. The launch underscores Carnaby Street’s reputation as a hub for innovative, sought-after brands.Pangaia now welcomes customers to its first UK standalone store, strategically situated in the vibrant cultural hub of London’s Carnaby Street. The store, occupying a space of 1,500 square feet at 57 Carnaby Street, is surrounded by notable retailers such as…