Property giant Grosvenor Group has sold a further 10% stake in multinational retail real estate company Sonae Sierra to Sonae SGPS for Є82 million. Sonae Sierra owns 27 shopping centres in Europe and South America.
March was bad, April is expected to improve. That, in essence, sums up the latest sales report from the Confederation of British Industry (CBI) showing exactly what you already knew and probably expect for UK retail.
With the easing of lockdown for non-essential retail not due to start until April 12 for much of the UK, Easter is expected to see a shopping decline for the second year running, according to the analysts at GlobalData.
Mercer, the high-end sustainable sneaker brand, has opened a flagship brand store in Amsterdam. At Ferdinand Bolstraat 54 in De Pijp, it “immerses the consumer in the world of Mercer with its latest SS21 collection”.
In the last 18 months, the luxury label’s online sales exceeded 10% of total revenue, enabling it to reach markets hitherto regarded as secondary, like the Balkans region, chiefly Croatia, Romania and Poland.
After spending 2020 “honing” and “reshaping” its business, leather producer and supplier Pittards has talked of "acquitting itself robustly” and has “entered 2021 stronger, with a more diverse and flexible business”.
Bain & Company has teamed up with Positive Luxury to offer a vision of sustainable luxury for 2030, highlighting five key areas of focus for brands hoping to implement sustainability strategies over the next 10 years.
The grave state of physical retail, and fashion retail in particular, surfaced Wednesday as a report showed over 11,000 UK stores disappeared last year. Darker still, a further 18,000 stores could close this year.