There's a new frontrunner in the race to buy Topshop, Topman and Miss Selfridge with Asos being suggested as the lead contender on Saturday evening, which could mean the chances of saving any stores are slim.
The Japanese beauty giant confirmed on Friday that it is in negotiations with CVC to sell the investment fund its consumer personal care business, the value of which is reported to be over $1.45 billion.
The founder of shirts specialist Charles Tyrwhitt said business “fell off a cliff” last year as stores were forced to close, consumers reined-in spending and worked from home so his products stayed on the rails.
The fashion retailer has revealed a new long-term growth strategy that aims to transform its Aerie brand into a $2 billion business over the next two to three years, while also reorganizing its brick-and-mortar network.
The company seen as the frontrunner to win the Topshop auction surprised observers late on Thursday as it emerged Next had pulled out of bidding for the most valuable name in the Arcadia basket of brands.
If anyone is enjoying a great January it has to be Michael Kliger, CEO of Mytheresa.com, who this month pulled off an IPO valuing the online retailer at $2.2 billion. We spoke with him three hours before going public.
Selfridges weathered the 2020 storm, despite enduring the toughest retail year in decades. That’s according to company chief Anne Pitcher who admitted that it was the “most difficult” period in its 113 years.