The owner of Hotter Shoes is gearing up for a transformational year as it changes its name, relists on a new exchange and moves into new categories such as clothing, as well as adding third-party brands.
Selfridges Retail Limited has filed its full accounts for the year to the end of January 2021 and they show the devastation that the pandemic wreaked in what should have been another good year for the company.
Billed as one of the biggest commercial property deals in recent years, two designer outlet malls in England have been sold for £600m. Cheshire Oaks and Swindon Designer Outlet have been bought by LaSalle.
Next has reported full-price sales up as much as 20% in the eight weeks to Christmas Day, compared to 2019. It's good news for the fashion retail giant that sold products adding up to £70m more than it had expected.
Value, quality, and convenience are the top three purchasing considerations for 2022, especially in the face of rising prices, a KPMG consumer confidence survey shows. Sustainability will also be key when buying goods.
The new owners of Selfridges have major property development plans for the site in Oxford Street, London, with a luxury hotel and flats to be created. They will also continue to upgrade the main department store.
David Beckham is reportedly selling a 55% stake in his management business to acquisition-hungry Authentic Brands Group (ABG) for as much as £200 million. The reports haven't been confirmed by either party.
Retailers' longer return policies, launched during the pandemic to lure consumers, could leave them facing higher costs if shoppers bring back a record-setting $112bn in gifts bought during the long holiday season.
Paris Hilton has created an island in the online virtual world, dubbed Paris World. Like other virtual hangouts, Paris World will collect small payments for purchasing virtual clothing and other experiences.