In Numbers: the Week in Fashion in Figures
The headlines this week were dominated by yet more CVAs, which retailers are increasingly employing to cut stores estates, rents and other costs to give their businesses a fighting change after the trauma of lockdown.
Both Moss Bros and Ann Summers are said to be considering such arrangements, while Jigsaw had its CVA approved this week leading to a planned 13 store closures (out of a total of 74 stores).
In more upbeat news, fashion, beauty and lifestyle retailer The Hut Group confirmed its IPO which will see it valued at £4.5bn, while iconic menswear brand Ben Sherman revealed a plan to extend its brand beyond fashion and into pubs, barbers and hotel lounges.
Herewith the highlights from another eventful week in UK fashion.
2021
From next year menswear brand Ben Sherman will begin rolling out its branded bars, barbers and gastropubs.
Ben Sherman to launch branded pubs and barbers with Brands Lab International
125
Number of stores currently operated by Moss Bros, which is said to be plotting a CVA which could see some of them close.
£16 million
The most recent figures for lingerie retailer Ann Summers show a £!6m loss and it is now looking to shed some stores via a CVA.
11.8%
Ted Baker founder Ray Kelvin currently holds 11.8% of its shares, as long as he holds more than 10% he can nominated a director to represent him on the board, which he did this week.
1965
The year in which Zandra Rhodes set up her first studio in Seven Dials; she has just installed some bespoke installations in the area to welcome back shoppers.
Q&A: Zandra Rhodes on her latest collaboration with Seven Dials
6%
Retail footfall jumped by 6% as shoppers rushed out to make the most of the last week of Rishi Sunak's Eat Out to Help Out scheme.
24
Hannah Colman joined Jimmy Choo 24 years ago to manage its first ever store; this week she was name the luxury brand's CEO.
£573,000
The value of the Government PPE contract awarded to Burberry, which followed on from the luxury house donating free gowns during the height of the COVID-19 crisis.
Burberry wins £573,000 PPE contract following gowns donation to Government
£4.5bn
The valuation placed on The Hut Group, which is about to carry out the first big London Stock Market float since the COVID-19 crisis hit.
The Hut Group confirms London's first major flotation since COVID-19 struck
30
The number of new fashion and beauty brands to be added to John Lewis' line-up as it looks to better cater for changing consumer behaviour.
John Lewis adds 30 new fashion and beauty brands as it “modernises offer”
€9.99
The price of a wrap-over dress at Inditex's value fashion brand Lefties, which has started selling online for the first time this week. Should Primark be worried?
Lefties: has Primark got a rival in Inditex's value fashion brand?
13
The number of stores that premium fashion chain Jigsaw will close following the approval of its CVA by creditors.
80
The number of designers taking part in the new London Fashion Week which will be a hybrid physical/digital gender-neutral event.
BFC announces provisional schedule for London Fashion Week September 2020
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