Big-spending luxury brands like Gucci, Louis Vuitton and Christian Dior are splashing out on everything from fashion shows to teams of advisers as they target social media platforms in the hunt for young shoppers.
If we could be a fly on any wall, it would be the Arcadia boardroom on Tuesday with the board set to meet to talk about the future of the company’s various fashion chains in the UK and beyond, and its expected CVA.
Arcadia is believed to have struck a deal with bank giant HSBC for the latter to act as a guarantor of its ability to pay its suppliers as it works towards a possible CVA, which some analysts are expecting this week.
From Nike Inc and Under Armour to Levi's, major brands are distributing clothing and accessories directly through Amazon.com, attracted by more than 100 million Prime members and its advanced delivery network.
Manchester-based The Hut Group has increased its bank borrowing to $1bn (about £766m) and welcomed Shanghai Pudong Development Bank as an investor to support “major investments in beauty, technology and infrastructure”.
UK store portfolios could be cut by as much as 20% as the migration to online, Brexit uncertainty and increasing consumer caution continue to bite, according to a quarterly update from KPMG/Ipsos Retail Think Tank (RTT).