298
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
Published
Apr 10, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Ultimo lingerie to exit UK market, will continue in Asia

Published
Apr 10, 2018

Lingerie company Ultimo is to exit the UK with the website to be shuttered on April 15 while its concessions have already been closed. The brand will continue to operate in South Asia.


Ultimo


In the last year for which accounts are available (the 12 months to December 2016), the company lost £3.9 million on sales of just £2.2 million and said that it expected more losses in the 2017 financial year.

The brand was founded by Tory peer Baroness Mone of Mayfair but she left in 2015 and the closure decision was taken by its current owner, Sri Lanka-based manufacturing giant MAS Holdings, which acquired a controlling stake in 2014.

The brand was launched in 1996 and its media-friendly founder and use of celebrity models such as Penny Lancaster and Rachel Hunter gave it an instant publicity boost and seemed to set it up for a successful future.

But the company said it has been through a number of challenging years in the UK, “driven by increasing competition in the market and more cautious consumer spending".

It has just 11 staff at its Scottish HQ and they have now started formal redundancy consultations.

The operation will finally be wound up by June with the company saying it will meet all commitments to suppliers, partners and customers.

The brand has been sold though a variety of UK stores including big names House of Fraser, Debenhams, Next, Asos, Bravissimo and Amazon, among others.

News of the closure comes as the fashion retail sector remains under pressure with New Look having entered a CVA, multiple retailers reportedly in talks to cut their rent bills, Mothercare believe to be planning a CVA and East having gone under.

Copyright © 2024 FashionNetwork.com All rights reserved.