Author: Scott Dylan

The acquisition of a 40% stake in Selfridges by Saudi Arabia’s Public Investment Fund (PIF) has sparked optimism about the retailer’s future.The deal follows Austrian property group Signa’s bankruptcy, which previously held the stake.Thailand’s Central Group retains the remaining 60% ownership of Selfridges, aiming for growth with PIF.Selfridges faces challenges, including significant debt and leadership changes.Critics voice concerns about Saudi investments amid human rights issues.Saudi Arabia’s Public Investment Fund (PIF) announced that it has acquired a 40% stake in Selfridges Group. This move is seen as a positive step forward amid ongoing concerns about the future of the iconic retailer,…

Mulberry’s largest shareholder has dismissed Frasers Group’s latest £111 million bid, maintaining its stance against selling.Challice, owning 56% of Mulberry, has declared no interest in selling shares to Frasers or making any commitments about a potential offer.Without Challice’s backing, Frasers Group cannot succeed in its takeover attempt, a fact they’ve openly acknowledged.Despite increasing their offer to 150p per share, Frasers Group’s bid follows a previously rejected offer earlier this month.The timing of Frasers’ bid coincides with recent changes at Mulberry, including a new CEO and a substantial cash injection.Mulberry’s principal shareholder, Challice, has definitively turned down an enhanced bid of…

The valuation of department store Selfridges’ property assets has significantly declined.According to The Sunday Times, Selfridges’ property portfolio saw its value reduced by £638.6m, a 20.6% decrease.Loans totalling over £1.7bn, secured against Selfridges’ property, will mature in August 2025.External factors such as interest rates and market rents contributed to the markdowns, according to a company spokesperson.Central Group, in partnership with Saudi Arabia’s Public Investment Fund, is involved in the total buyout of Signa’s interest in Selfridges.The luxury retailer Selfridges has experienced a substantial reduction in the valuation of its property portfolio, with assets depreciated by £638.6 million, equating to 20.6%,…

Mulberry’s majority shareholder firmly rejects takeover bid from Mike Ashley’s Fraser Group.Challice owns a controlling 56.4% of Mulberry, thwarting Fraser’s increased offer.Frasers Group now holds 37.3% of Mulberry after acquiring additional shares.The board is deliberating Mulberry’s strategic position amidst takeover interest.CEO Andrea Baldo is spearheading efforts to revitalise the brand.The controlling shareholder of Mulberry, Challice, has expressed unequivocally its lack of interest in selling its stake to Mike Ashley’s Fraser Group. This decision comes despite an improved offer for the firm, valuing it at £111 million. Challice, steered by Singaporean business figures Christina Ong and Ong Beng Seng, holds a…

Sainsbury’s unveils new ‘Next Level’ shopping experience at Cobham store.Cobham store tests over 100 new shopping innovations.Enhanced product presentation aims to simplify customer shopping.Focus on efficient use of space for grocery volume growth.Hybrid checkout systems and digital innovations introduced.Earlier this year, Sainsbury’s CEO Simon Roberts announced the grocer’s ‘Next Level’ strategy, aspiring to make it the primary choice for UK shoppers. The Cobham store serves as a testing ground for over 100 innovations, providing critical insights for future rollouts.Significant changes in product presentation have been made to improve the shopping experience. Products like fish and desserts are now displayed with…

Sainsbury’s Cobham store in Surrey unveils its forward-thinking approach to revolutionising the supermarket experience, showcasing over 100 innovative experiments as part of its “Next Level” strategy.Earlier this year, Sainsbury’s embarked on a bold venture to solidify its position as the preferred food retailer in the UK. CEO Simon Roberts introduced the ‘Next Level’ strategy, a plan designed to enhance food volume growth and widen the availability of its full range to more customers. Presently, only 15% of Sainsbury’s supermarkets offer the complete selection, a figure the company aims to increase by optimising space in approximately 180 stores over the next…

Australian retailer Harvey Norman has inaugurated its first store in England.The store, located in Merry Hill, covers an expansive 57,000 sq ft area.This flagship outlet offers luxury furniture, home appliances, and technology items.Dedicated sections feature products from renowned brands like Dyson and Apple.The UK expansion reflects Harvey Norman’s strategic growth in global retail markets.Australian lifestyle and home retailer Harvey Norman has made its debut in the English market by opening a flagship store at the Merry Hill shopping centre in the West Midlands. This substantial 57,000 square foot space marks a significant step in the company’s global expansion efforts.The new…

Ger Wright, Managing Director of Sport at Frasers Group, is set to depart her role next month, transitioning to a non-executive director position.She joined the group in 2022 and played a pivotal role in its elevation strategy, especially through international expansion and brand onboarding.Wright’s leadership saw the introduction of innovative concepts in running and outdoor sports, enhancing the group’s market presence.Frasers Group recently expanded its footprint in the Benelux region with new store openings and strategic acquisitions.CEO Michael Murray praised Wright for her exceptional leadership and anticipates her continued contributions as a non-executive director.Ger Wright will be stepping down from…

Ger Wright, Managing Director of Sport at Frasers Group, is set to step down next month, marking an end to her impactful tenure.Wright has contributed significantly to the group’s elevation strategy, integrating new concepts and expanding internationally.Her leadership introduced novel running and outdoor offerings, alongside onboarding new brands to the group’s portfolio.Frasers Group, under her guidance, has expanded with several new store openings in Benelux, enhancing its global footprint.Following her departure, Wright will continue to influence Frasers Group as a non-executive director.Ger Wright, who has been at the helm as Managing Director of Sport at Frasers Group since 2022, will…

Retailers across the UK are calling upon Chancellor Rachel Reeves to honour her pledge in reducing business rates, amidst concerns of an impending tax increase.A potential £2.7 billion tax rise could predominantly affect smaller businesses in the retail, hospitality, and leisure sectors.The upcoming end of a significant relief scheme threatens over 252,000 establishments.Retail leaders have actively sought reform, highlighting the disparity in business rate burdens across industries.The British Retail Consortium proposes a Retail Rates Corrector to balance the tax contributions of the retail sector.Retailers throughout the United Kingdom are urging Chancellor Rachel Reeves to adhere to her commitment to reduce…