Editors' Top Reads: News from Harvey Nichols, Monsoon, Dockers and more...
Here are some of this week’s news and features highlights handpicked by TheIndustry.fashion team.
Harvey Nichols puts jobs at risk in move to prioritise fashion and beauty
I'm naturally very sad for those 70 staff who have had their jobs placed at risk by luxury department store Harvey Nichols and I hope they all manage to find fulfilling roles elsewhere in our industry. But the loss of jobs aside, I do see Harvey Nichols' renewed focus on fashion and beauty as a big positive.
The business is looking to move away from the distraction of own-brand food and to re-establish itself as a leader in style, which I really think it can. The fashion market has been greatly challenged of late but Harvey Nichols, of all the department stores, has the pedigree to really go after it once more and be the place to go for brands and styles that you don't see everywhere else.
Same goes for beauty. Harvey Nichols really could set itself apart with a unique offer of challenger brands and international names in a creative and curated environment that once again sets it apart form the rest.
Those of us old enough to know, will remember this store was a place of pilgrimage for style seekers in the 90s and early 00s but it sadly started following rather than leading and it lost what made it special. New CEO Julia Goddard is determined to return the business to profit and in doing so seems equally determine to return it to its former glory. I can't wait to see the results.
Lauretta Roberts, Co-founder, CEO and Editor-in-Chief.
Authentic Brands Group to acquire Dockers from Levi’s
Authentic Brands Group, founded by Jamie Salter in 2010 and based in New York, is continuing to hoover up brands like no tomorrow – this week with a $311 million (£232 million) acquisition of Dockers from Levi Strauss & Co.
It was also recently reported that Authentic is exploring a potential takeover offer for American fashion label Guess, while in 2024 it acquired Champion, and in 2023 it took control of British heritage brand, Hunter. Also, not forgetting its 2022 takeover of Ted Baker. The portfolio of brands in its stable is actually quite incredible, and also counts the likes of Reebok, Quiksilver, Juicy Couture, Sperry, Rockport, Brooks Brothers, Nautica, Frye, Tretorn, Billabong, Arrow, Element and Eddie Bauer – the list just goes on.
Dockers has long been Levi’s little khaki brother, established in 1986 and initially best known for its pleated chinos. Fast approaching its 40th anniversary, this season it has just launched the Dockers Eighty-Six collection, featuring some remakes of archive styes – including said pleated chinos, as well as a loose fit utility pant.
It’s a brand that has kind of just always been there but sometimes gets forgotten about. Ironically, it was recently brought to my attention for a ‘D-Series’ collaboration with vintage archive Transnomadica, which put the spotlight on the military roots of khaki. Crafted from premium Japanese textiles, each garment was "a tribute to the craft of khaki". There was also a rather nice ‘Mechanics Jacket’, inspired by a 1950s piece.
Perhaps it’s no coincidence that as soon as Dockers started to do something interesting again Authentic came sniffing. It will be hard not to think of Dockers as part of the Levi’s family anymore, but interesting to see what its new owners do with it.
Tom Bottomley, Contributing Editor
Monsoon Accessorize expects return to profitable growth as store and tech investments pay off
When I think of Monsoon and Accessorize, I’m instantly taken back to Saturdays spent in town as a child. While my mum browsed the racks at Monsoon, I’d slip into the adjoining Accessorize, eyeing up all the displays of bags and jewellery. I often left with a new necklace or a school bag in hand.
Today, that store is no longer in Peterborough, and I haven’t had much to do with the brand since those early days. However, I was intrigued to read about its recent performance and write about how its investment in its stores estate and technology is helping steer the business back towards profitable growth.
Despite ongoing challenges, Monsoon Accessorize said it remains "confident" about its outlook for the current financial year. It came as Monsoon Accessorize reported a decrease in group sales for the year ending 31 August 2024. The company described the period as a "transitional financial year," noting that profits were impacted by the need to absorb "significant" UK wage inflation and cover the costs linked to its transformation. Read more here.
Sophie Smith, News Editor & Senior Writer.
Oxford Street’s retail vacancies now at 0.5% lower than pre-pandemic
This is good news from the UK’s best known shopping street. Walking up and down it may not, yet, be a uninterrupted pleasure but there have been strong signs of late that things are improving. The disappearing department stores, the closure of Topshop (still not over it) and the temporary closure of Nike Town had left Oxford Street feeling flat.
But London real estate company Savills tells us that 21 international brands have now made Oxford Street their home recently and lettings are back to pre-pandemic levels (a little bit better in fact). There are some great shops on Oxford Street now, not least of which is the new Massimo Dutti, which we have reported today.
On nearby Regent Street, we can see a similar story with lots of interesting new stores opening from the likes of Polène and Alo Yoga with Kim Kardashian’s SKIMS also set to open.
It’s been sad to see the disappearance of some old favourites on the high street but they have made way for some really exciting new stores to open and, what with the nice weather we are now having, I’m going to permit myself a little bit of optimism. Even if I am still sad about Topshop.
Lauretta Roberts, Co-founder, CEO and Editor-in-Chief.
