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Klarna raises new finance, value approaches $46bn

Klarna raises new finance, value approaches $46bn

​Buy-now-pay-later (BNPL) giant Klarna has raised new capital in a deal that not only values it at a massive $45.6bn but gives it a valuation as much as $14bn higher than its last fundraising round as recently as March.
Fashion
Cult Beauty sales surge as it gains new customers in UK, Europe

Cult Beauty sales surge as it gains new customers in UK, Europe

​Beauty e-tailer Cult Beauty has filed its full-year results for the 12 months to May 31 2020 and they show that it enjoyed what it called “another great year”, despite the pandemic affecting over two months in the year.
Beauty
Selfridges owners reportedly mull sale with £4bn price tag

Selfridges owners reportedly mull sale with £4bn price tag

​Selfridges is reportedly up for sale — or at least its owners are exploring their options — after a mystery buyer approached the business with an offer, reports claimed on Friday.
Luxury
RangeMe sourcing platform launches in UK

RangeMe sourcing platform launches in UK

​Sourcing platform RangeMe has launched in the UK. It offers retailers instant access to over 200,000 suppliers and more than 750,000 products from around the world, with beauty being one of its big categories.
Beauty
Large number of Oxford Street units are empty - report

Large number of Oxford Street units are empty - report

Some 17% of Oxford Street’s properties are currently standing empty, it was claimed on Thursday, with the reason being about the rise of online shopping as well as the pandemic.
Fashion
Lockdown end means UK online sales drop, but fashion is still on a high

Lockdown end means UK online sales drop, but fashion is still on a high

​Online sales in the UK fell 9.1% year-on-year last month, although this was against a 61% increase in May 2020. And even with the fall, spend remain strong with sales volumes rising 46% compared to May 2019.
Fashion
Inditex recovery under way in Q1, latest quarter starts strongly

Inditex recovery under way in Q1, latest quarter starts strongly

​Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
Fashion
ASOS extends beauty offer with Lush debut

ASOS extends beauty offer with Lush debut

​ASOS has added to its Face + Body beauty offer with the company teaming up with British fresh handmade cosmetic pioneer Lush. 
Beauty
Fashion was key spending category in May for UK consumers

Fashion was key spending category in May for UK consumers

Fashion was a major contributor to rising consumer spending in May, two reports showed on Tuesday. Both Barclaycard and the BRC/KPMG sales monitor showed that British shoppers were in the mood to update their wardrobes.
Fashion
Natura's Fable vehicle invests in Perfumer H

Natura's Fable vehicle invests in Perfumer H

​Body Shop owner Natura &Co has unveiled Fable Investments, a investment vehicle set up to support beauty, health and wellness companies. And its first investment is in Britain's Perfumer H.
Beauty
Kate Winslet named as latest L'Oréal Paris global ambassador

Kate Winslet named as latest L'Oréal Paris global ambassador

Thursday, June 3, L'Oréal Paris named Kate Winslet as its latest global ambassador.
Fashion
​Fashion and beauty are tops for Amazon’s upcoming Prime Day says survey

​Fashion and beauty are tops for Amazon’s upcoming Prime Day says survey

How’s this for an eye-watering uptake? Research shows 50% of all shoppers in the UK and the US will be participating in Amazon’s Prime Day (21-22 June). And fashion and beauty are topping the list of proposed purchases.
Fashion
Goop closes London boutique

Goop closes London boutique

​Gwyneth Paltrow’s standalone Goop store in London’s Notting Hill has closed for good. The UK webstore remains open, however.
Beauty
UK retail needs more help to avoid closure "tsunami", owes £2.9bn in rent

UK retail needs more help to avoid closure "tsunami", owes £2.9bn in rent

Britain's retail sector will endure a "tsunami of closures" if the government does not extend a moratorium on aggressive debt enforcement, industry lobby group the British Retail Consortium (BRC), has said.
Fashion
Debenhams' Magasin du Nord is sold to Peek & Cloppenburg

Debenhams' Magasin du Nord is sold to Peek & Cloppenburg

​The Debenhams physical store chain may be history in the UK, but one part of the business is continuing as a physical entity with its Danish Magasin du Nord operation sold to Peek & Cloppenburg for an undisclosed sum.
Fashion
West End launches new-gen creatives pop-up programme

West End launches new-gen creatives pop-up programme

​As they work to drive shopper traffic back to London’s West End, the New West End Company, local authority Westminster City Council and landlord Crown Estate have announced the launch of a pop-up programme.
Fashion