The number of fashion-focused shops on premier shopping thoroughfare Oxford Street looks like falling even further with news that IKEA is likely to take over the former Topshop flagship, in a key Oxford Circus position.
In a month that's shaping up to be huge as far as luxury deals are concerned, the latest news is that LVMH is boosting its stake in Off-White. Virgil Abloh's streetwear label will now be 60% owned by the French giant.
A French court on Tuesday ordered Ikea to pay a 1 million euro fine in a spy case involving its employees, as the world's biggest furniture retailer was found guilty of storing employee data it obtained improperly.
A venture part-owned by Finnish forestry group Stora Enso, H&M and IKEA said on Tuesday it was set to build a demonstration plant in Sweden for a new, more sustainable wood-based textile fibre after years of research.
Ikea's shopping malls business said its expansion plans remained on track with visitors quickly returning to its premises after the lifting of coronavirus-related lockdowns which had forced stores to close.
Ikea sees sales returning to growth this year after the coronavirus crisis boosted shoppers' interest in spending more on their homes, a trend the world's biggest furniture retailer believes is here to stay.