Retailers in the UK have welcomed the government’s decision to bring back VAT-free shopping for overseas visitors, but called for urgent action on business rates. It comes after the UK’s new chancellor Kwasi Kwarteng revealed a mini-budget on Friday to reinvigorate the country’s struggling economy. It included the return of VAT-free shopping for...
23 Sept 2022
Fashion talent management company Elite World Group (EWG) has announced it will be introducing photorealistic 3D avatars to its offer in collaboration with Italian avatar firm, Igoodi. The metaverse-based tool, which utilises Web3 technology, aims to create avatars that portray a lifelike digital version of a physical person. The feature...
British homeware retailer Made.com has announced it will be undergoing a formal sale process as its board of directors decided to withdraw its full-year guidance. The news comes just months after the e-commerce platform announced its intention to acquire London-based fashion marketplace Trouva. According to a stock exchange release, a number of...
JD.com, Inc. has appointed Carol Yun Yau Li as an independent director on the board of directors of the company and a member of the board’s compensation committee, effective immediately. Li, the company said, is a managing director of Yale Center Beijing, Yale University’s first university-wide center outside of the United States. Li has also...
Beauty conglomerate L’Oréal has revealed it has signed an agreement to acquire Skinbetter Science, a medical-dispensed skincare brand focused on dermatological science. At its headquarters in Arizona, US, the brand’s leadership team will continue to run the business following its acquisition. It will be integrated under the leadership of...
Harrods has announced the launch of a new loyalty programme specifically curated for its beauty customers. MyBeauty, which comes as part of Harrods Rewards, will allow members to access a number of benefits, including earning points on beauty products, event invites and exclusive promotions throughout the year. The reward programme is tailored...
Contemporary fashion brand Esprit is continuing to drive forward innovation in technology, creativity, and customer service with the launch of two new global ‘Futura’ innovation hubs in London and New York, adding to its existing location in Amsterdam. The move is part of the group-wide digital strategy to reinvent customer engagement...
Luxury brand Burberry has announced that its chief operating and financial officer Julie Brown has notified that board of her intention to step down. From the closure of its current financial year on April 1, 2023, Brown will be leaving the company after a six year stint to take on an opportunity outside of the luxury industry, the British brand...
Outdoor clothing company Mammut Sports Group has announced the appointment of Felix Muennich as its new chief commercial officer, effective November 1. Muennich joins the group from Nike, where he served in several positions over the course of 12 years, including vice president, general manager direct inline stores EMEA. He has also been with...
Womenswear e-tailer In The Style is making “solid progress” on its strategy to increase profitability and manage its cash position, its CEO said Friday. Though the Manchester-based company didn’t provide any specific trading figures, it did outline a number of recent strategic developments it has made. The retailer said it successfully moved its...
Following the announcement regarding its delayed financial report, Revolution Beauty has stated that it will now be calling in independent external advisors to investigate its audit failures. It comes as its auditors, BDO LLP, raised “serious concerns” within its work on the fiscal year 2022 audit, including the group’s ability to provide...
Ancora Holdings Group, a long-term shareholder of Kohl’s Corporation, has sent a letter to the department store group calling for its chairman, Peter Boneparth, and its CEO, Michelle Gass, to be removed. The letter, addressed to the company’s board of directors, comes as a response to Kohl’s continued “underperformance” throughout 2021, during...
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