KPMG news and archive

Designer Brands appoints John Atkinson to its board of directors

Designer Brands has appointed John Atkinson as a member of its board of directors, effective August 1, 2024. The company said Atkinson was also named a member of both the audit committee and the nominating and corporate governance committee. "John’s extensive expertise as a strategic financial counsellor will be fundamental to guiding our path...

Business

Dune Group founder appoints KPMG to attract business investors

The Dune Group’s founder and chairman, Daniel Rubin, has appointed KPMG to find new investors in the business. Rubin, who established the footwear and accessories brand 30 years ago, said in a statement: “Having spent 47 years in the footwear industry the time is right to realise the investment I have made in Dune. The business is strong with a...

Business

Study: 90 percent of consumers are “curious” about the metaverse

One innovation that brands, retailers and consumers can hardly ignore is the metaverse, a virtual reality space where users can interact with a computer-generated environment and each other. More and more brands and retailers have discovered the metaverse for themselves and are trying to attract their customers not only offline and online, but...

Retail

400,000 jobs could be lost from English high streets post-Covid

Some 400,000 jobs could be lost across England’s high streets post-Covid as an acceleration of online shopping and new work-from-home habits are expected to drive down footfall, new research suggests. According to a report by KPMG, a drop in commuter flow in England could range from over a tenth to under a third of commuter footfall seen...

BusinessFeatured

Vanners bought out of administration

Sudbury-based textiles manufacturer, Silk Industries that trades as Vanners, has been bought out of administration by businessman Roger Gawn. Vanners, which develops and manufactures silk fabrics and products for the luxury menswear, fashion and furnishing markets, fell into administration on November 9, 2020. Silk Industries appointed James...

Business

House of Holland enters administration

House of Holland, once a staple at London Fashion Week, has entered administration, following news earlier this week that founder and creative director Henry Holland was stepping down from the label to become a brand consultant. Management consultancy firm KPMG has confirmed that Will Wright and Steve Absolom from its restructuring practice were...

PeopleFeatured

Henry Holland to exit label

British designer Henry Holland has announced that he is stepping back from the House of Holland fashion brand he founded in 2006, after asking management consultancy firm KPMG to see new investors. Holland, who shot to fame with his cheeky, slogan T-shirts and became a London Fashion Week staple, has said that he is looking to become a brand...

Business

Mothercare calls in restructuring experts from KPMG

Maternity and babywear specialist Mothercare has called in advisors from accountancy firm KPMG to discuss options for the company, a move that raises concerns for the future of 2,500 employees across 79 stores. A Mothercare spokesperson said: “Our immediate priority is to complete the transformation of the business with a near-term focus on...

BusinessFeatured

UK market regulator fines KPMG over improper Ted Baker audit

London - The UK's Financial Reporting Council (FRC) has imposed a 3 million pounds on senior partner at KPMG over misconduct during the auditing of fashion retailer Ted Baker. The British market regulator fined accountants KPMG three million pounds and reprimanded and fined senior partner Michael Francis Barradell for misconduct related to...

RetailFeatured

Government allows 100 per cent FDI in e-commerce marketplace

The National Democratic Alliance (NDA) government has allowed 100 per cent foreign direct investment (FDI) in e-commerce marketplaces. And the Department of Industrial Policy & Promotion (DIPP) has clarified that the FDI is only for the marketplace format of e-commerce and not for inventory-led models. It has defined e-commerce as buying and...

Fashion

Inflation impacting consumer spending, says study

Consumers across urban India have been postponing major purchases over the past twelve months, spending only on essential item. This is their response to the prolonged inflation, says a report by consulting firm KPMG and the Retailers Association of India (RAI), the apex body representing retailers of India. High prices deter spending Because of...

Apparel

Franchising industry on a growth track in India

India’s franchising industry is expected to experience an above average growth rate between 2012 and 2017, across all sectors. As per KPMG estimates the franchising industry is expected to witness a compounded annual growth rate of 30 percent over the next five years. The franchising industry in India has the potential to grow to 50 billion...