Speculation that Shandong Ruyi was in talks to buy the UK’s Arcadia Group may have been denied by both parties but it has certainly focused attention on the Chinese firm’s global ambitions in the fashion sector.
Hundreds of Topshop and Topman stores could see imminent staff cuts as the Arcadia-owned chain becomes the latest UK retailer seeking to rationalise its stores in the face of lower footfall and the migration to e-tail.
Topshop owner Arcadia has given its suppliers notice that it expects a 2% discount on orders, citing the tough retail environment and higher costs, and leading analysts to question how weak current trading might be.
While athleisure is a category most often talked about in association with womenswear, menswear specialist Burton has just jumped into the category with a new range for exercise as well as leisurewear.
Better late than never. Some time after Topshop and Topman were expected to make their first foray into China, and over a year after signing a deal to enter the country, the UK fashion chains will set foot in Shanghai.