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 owners of fashion businesses like River Island, The Edinburgh Woollen Mill Group, Arcadia, Charles Tyrwhitt, New Look and Monsoon Accessorize have all seen their estimated personal wealth fall over the past year.
The brand has launched a new collection designed for different body types. The addition will solve frequent fit issues such as trousers that are too tight around the thighs, fabric ripping and “saggy bottoms”.
Michael Stanier, the chief executive officer of UK shirtmaker Charles Tyrwhitt, is stepping down after a year in charge. He will be replaced by Luke Kingsnorth, currently president of the North American business.
The new owner of Belstaff has been named Britain’s richest man in the latest Sunday Times Rich List. Self-made businessman Jim Ratcliffe is chairman/CEO of chemicals company Ineos, which acquired Belstaff last autumn.