THG Ingenuity has inked a strategic alliance with And Digital, the software engineering firm, “to accelerate digital transformation, help brands bridge the digital skills gap and unlock the potential of commerce tech”.
The festive shopping season in the UK saw a noticeable revival of consumers visiting physical stores as they discovered the joys of shopping face-to-face. And that seems to have benefited London's Oxford Street.
London-based software start-up Emporia has raised over £10 million of expansion funding “to reimagine the e-commerce space”. It’s aiming to bring retail into the metaverse by providing the tech to build virtual stores.
Matchesfashion’s owner Apax partners has agreed a £60m funding package for the luxury retailer as it continues to work on its turnaround. The new package comprises £40m of equity and £20m of additional debt.
UK retail vacancy rates improved in the final quarter of 2022 to 13.8%. But before you get too excited, it was only better by 0.1% on Q3 and 0.6 percentage points better than the same period last year.
What did Friday’s CBI survey report show for January? Lower sales volumes as retail got off to a slow start despite the clearance sales. They're expected to decline again next month too, “but at a slightly slower pace”.
Global events company Hyve Group has appointment Julie Harris as a non-executive director, effective 2 February. She will take on the role of Environmental, Social and Governance (ESG) Committee Chair.
Lark London is embarking on its first retail venture outside the UK’s capital (but not too far out). The independent lifestyle boutique brand is to open at the Victoria Place shopping centre in Woking, Surrey, in March.