Executive Report news and archive

Asda appoints former CEO to executive chair

Allan Leighton, the chief executive of Asda between 1996 to 2001, has been appointed as the supermarket giant’s executive chair, marking his return to the company. Leighton will succeed Stuart Rose, who has served as Asda’s chair since 2021. Alongside his stint at the helm of the retailer, Leighton has also held the role of president of US food...

Business

Boohoo fundraising receives lender backing

Boohoo has officially received lender consent in regards to its fundraising, which has been set out to “unlock and maximise shareholder value”, as stated by chairman, Tim Morris. The fast fashion giant has initiated plans for a Placing & Subscription and Retail Offer through which it is aiming to raise up to 39.3 million pounds. The proceeds of...

Business|Beauty

Clean Skin Club raises 32 million US dollars

Skincare and hygiene brand Clean Skin Club has closed a 32 million US dollar investment round to expand into brick-and-mortar retail, fund new product development and invest in talent. Clean Skin Club, known for its dermatologist-approved Clean Towel XL, the first disposable, ultra-soft, and bio-based face towel sold on Amazon and at Target,...

Business|Beauty

Helen of Troy acquires Olive & June

US consumer products group Helen of Troy has entered into a definitive merger agreement to acquire omnichannel nail brand Olive & June for 225 million US dollars. Olive & June, founded in 2013, is an innovative, omnichannel nail care brand trailblazing the DIY nail revolution, offering products across all nail care categories, including polish,...

Business

Represent sells minority stake to investment firm True

Represent has established a strategic partnership with investment firm True, which has snapped up a minority stake in the British luxury brand to help fuel its ongoing growth plan. The move intends to aid in the expansion of Represent’s presence, both in the luxury and performance sportswear sector and internationally, across the UK, US and the...

Business

Ann Summers owners reportedly mulling sale options

The owners of lingerie chain Ann Summers are believed to be considering sale options for the business, with the disposal of a “big stake” in the retailer said to be on the table. The Gold family, which owns 100 percent of the equity in the company, has reportedly been in discussions with Interpath for several weeks, according to sources for Sky...

Business

Temu parent PDD Holdings Q3 revenues increase by 44 percent

PDD Holdings in its unaudited financial results statement for the third quarter reported revenues of 99,354.4 million Chinese yuan (14,157.9 million dollars), an increase of 44 percent. “Over the past quarter, our focus remained on driving the high-quality development of the platforms,” said Lei Chen, chairman and co-chief executive officer of...

People

Superdry appoints interim chief financial officer

British retailer Superdry has reportedly named Kim Zaheer as its new interim chief finance officer. He joins the company from bed retailer Dreams, where he most recently served as finance director, a position he held for over 15 years. Prior to Dreams, Zaheer had held a series of finance-based roles at the likes of supermarket giant Tesco, PRG...

Business

Groupe Dynamite debuts 215 million dollar IPO

Canadian fashion retailer Groupe Dynamite has launched its 300 million Canadian dollar (215 million US dollar) initial public offering on the Toronto Stock Exchange, which upon entering shares fell 2 percent. The company began trading on Thursday under the ticker symbol GRGD, with underwriters agreeing to trade over 14.2 million subordinate...

Business

Authentic secures Aus and NZ licensee deal for Champion

Authentic Brands Group, the new owner of Champion, has appointed Brand Collective as the new licensing partner of the sportswear label in Australia and New Zealand. Australia-based Brand Collective currently serves as the operating partner to brands such as Canada Goose, Clarks, Hush Puppies and Authentic-owned Reebok, while further owning the...

Business

The Platform Group maintains GMV, sales and profit growth outlook

The Platform Group achieved a gross merchandise volume (GMV) of 608.4 million euros for the nine month period and generated sales of 371.2 million euros, up against the same period of 2023. The company attributed the above increase to the growth of the connected partners to 12,981 and the expansion of the platform and software solutions to 23...

People

P448 appoints Rocco Bennici as chief financial & operating officer

European sneaker brand P448 has roped in Rocco Bennici to serve in the newly created role of chief financial & operating officer reporting to Wayne Kulkin, executive chairman of StreetTrend LLC. The company said in a release that Rocco Bennici will lead the finance, treasury, IT and logistics divisions in addition to the company’s teams in...