This week’s news was dominated by one big disputed figure. Edinburgh Woollen Mill Group, which also owns Peacocks, Jaeger and Austin Reed among others, wrote to the Bangladesh Garment Manufacturers and Exporters Association to demand it retract recently circulated claims that it owed Bangladeshi garment manufacturers almost £27m.
The claim was said by the retail group to be affecting its ability to get credit and jeopardising an investment deal in value chain Peacocks (a major US investor was said to be interested). After the threat of legal action the BGMEA retracted the claims and admitted EWM had paid or agreed most of its bills, however by Friday EWM had filed its intention to appoint an administrator and is still seeking buyers and investors. Another large number, 24,000, is the number of staff whose futures are now uncertain.
EWM has been battered by the slump in high street footfall, which is roughly 30% down year-on-year, and unlikely to recover for many, many months as talk of lockdown (on a national and local level) continues to hang over us. While the group isn’t exposed to city centre locations, as some chains are, where footfall is even worse, it has been particularly hard hit as it serves an older customer who is reluctant to go out to the shops for non-essentials.
Some brighter spots this week were a return to profit for online giant Very and, like last week, we have seen more sustainable progress from brands this week, such as Zalando, Levi’s and Ganni, as they anticipate the future priorities of the post-COVID consumer.
Below we round up your week in fashion with more stats that matter.
The loss posted by Mulberry as the British luxury brand is hit by the global COVID crisis.
Footfall dropped by -3.5% week on week as the COVID curfew and wet weather took their toll.
Fashion-Enter employed 77 former Laura Ashley staff to work at its new garment factory in Powys.
The first two dedicated Home & Beauty stores were unveiled in Milton Keynes and Watford this week.
Levi’s iconic jean, among many other styles, has been re-imagined for a new store in Soho with sustainability as its focus.
The number of stores in the Ann Summers estate; the lingerie retailer is considering a CVA for some, but not all, of those stores.
The amount, in tonnes, of clothing disposed of in household waste per year, which is one of the reasons why fashion is once again under the spotlight with MPs.
The amount of cash that PE house LionRock could inject into Clarks but its potential investment deal is said to hinge on the approval of a CVA.
The surge in sales experienced by online womenswear brand Sosandar in the six months to 30 September.
Westfield says its European centres are trending at about 80%-90% on last year as we examine how key shopping destinations are faring post-lockdown.
The Bangladesh Garment Manufacturers and Exports Association admitted its claims that Edinburgh Woollen Mill owed members this about were, in fact, not true.
The Very Group sales topped £2bn for the first time as the online giant returned to profit.
UK footfall is down by 30.1% year-on-year with the recent tightening of COVID restrictions causing a further lack of confidence among consumers.
The number of sustainable items now available on Zalando after it more than doubled its eco-fashion offer.
The number of staff who face an uncertain future after Edinburgh Woollen Mill, parent of Jaeger, Peacocks and Bonmarche, files notice to appoint an administrator.
The amount of the supply chain in Ganni’s new “low impact” Software line that its traceable.
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