The EU’s retaliatory tariffs on US imports came into play today, including a 25% duty on jeans, prompting a fresh salvo from Donald Trump who is now threatening a 20% tariff on EU car imports to the US.
House of Fraser has today gained approved from creditors for its CVA, which will involve the closure of more than half of its stores and the loss of 6,000 jobs. However a leading figure from the property industry has reacted angrily to the news saying landlords are being “made to pay for the mistakes of the business owner“.
The Environmental Audit Committee has launched an inquiry into the social and environmental impact of “fast fashion” and the wider clothing industry.
Embattled department store House of Fraser will learn the outcome of its CVA proposal tomorrow as its creditors vote on whether to accept the deal, which would result in the closure of more than half of its stores.
Marks & Spencer has announced a partnership with technology giant Microsoft that will place AI (artificial intelligence) at the heart of its stores and operations as it moves to become a “Digital First” retailer.
British designer Christopher Kane is in talks with luxury conglomerate Kering to buy back control of his business.
Despite the turmoil on the high street, almost three quarters of British millennial consumers prefer shopping in physical retail stores to online but they are less enthusiastic about dealing with sales staff, preferring them to be confined to pay points.
AX | Armani Exchange has opened its first UK store outside of London at the Liverpool ONE shopping destination.