Inside Retail
APRIL 21, 2024
Pool and spa franchise network Swimart has merged with its New Zealand peer Paramount Pools to expand its trans-Tasman presence. Founded by ASX-listed Waterco in 1983, Swimart operates 70 stores in Australia and six in New Zealand, most of which are independently operated franchises. Meanwhile, Paramount Pools has five locations in New Zealand, with more than 50 years of experience providing top quality pools to Kiwis.
Retail Gazette
APRIL 21, 2024
The Body Shop collapsed into administration after the retailer’s private equity buyer failed to secure new funding when HSBC withdrew its line of credit. According to The Telegraph , a shortfall of at least £100m occurred after Aurelius snapped up the beauty chain in November from Brazilian cosmetics giant Natura. The funding gap led to The Body Shop’s rapid downfall in February, which resulted in the new owner placing the retailer into administration just three months after its £207m purchase.
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Inside Retail
APRIL 21, 2024
Fashion has embraced technology at every turn from social media to virtual change rooms, yet consumers’ wardrobes have remained analogue. A closet full of clothes and nothing to wear is an age-old problem that has only been exacerbated by the convenience of online shopping. Indyx is the latest app attempting to create a virtual wardrobe but this time around the founders, Yidi Campbell and Devon Rule, are dialled in on the real gaps in consumers’ wardrobes and its not more clothing.
Retail Gazette
APRIL 21, 2024
Tesco chief executive Ken Murphy is in line to receive a £10m payout this year, an unprecedented sum for any supermarket boss. Murphy’s record pay will come from his £1.4m salary and performance related pay of £8.7m – more than double of his £4.4m pay last year. The chief executives remuneration includes an annual bonus of up to £3.6m and a share-based bonus worth around £5.1m at present prices, which pays out in June, The Times reported.
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Inside Retail
APRIL 21, 2024
A majority of Australians will support a ban of disposable coffee cups and sachets – but not of bubble wrap or cling film – according to a recent survey. Market research company YouGov found that 61 per cent of Australians will back legislation to ban disposable cups while 57 per cent said they are in favour of banning coffee machine capsules and condiment sachets.
Retail Gazette
APRIL 21, 2024
Asda’s billionaire co-owners pushed ahead with an incomplete IT transition despite being warned that it would result in thousands of workers being paid incorrectly. Senior figures are understood to have been informed in advance of the problems with the new HR system – a move that has affected 30,000 employees and left many out of pocket, The Telegraph reported.
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Retail Gazette
APRIL 21, 2024
Dr Martens is being circled by various major fashion companies, raising the possibility of foreign ownership. The British bootmaker has faced challenges since its listing on the London Stock Exchange. Last week the retailer raised its fifth profit warning in three years and said its CEO Kenny Wilson would be stepping down from his role as the business flagged a “challenging” year ahead.
Inside Retail
APRIL 21, 2024
As homewares buyers from around the world descended on Hong Kong over the weekend, exhibitors hoped their sharper focus on sustainability and products geared to consumers embracing the Covid-born work-from-home trend would populate the order books. Home InStyle 2024, organised by the Hong Kong Trade Development Council (HKTDC) drew 1750 exhibitors, 70 per cent up on last year’s event, evidence that retail buyers and brands are returning to trade exhibitions.
Retail Gazette
APRIL 21, 2024
TikTok Shop has partnered with five second-hand luxury resellers to launch a pre-loved category on the app. From today (22 April), users will be able to shop used designer products available from Hardly Ever Worn It, Sign of the Times, Luxe Collective, Sellier Knightsbridge and Break Archive. TikTok said #prelovedfashion had already generated over 62k creations and the new category will support users in being able to learn more about luxury fashion, find style inspiration and purchase pieces thr
Inside Retail
APRIL 21, 2024
The Franchise Council of Australia (FCA) has appointed Tanya Robertson as interim CEO effective immediately. This follows the departure of outgoing Matthew Monaghan, who left the organisation for personal reasons, and finished with the FCA today. Robertson has a strong track record of involvement in the FCA and the franchising sector. She has been part of the Victorian Committee for almost 16 years, and for a board director and Victorian State Chapter president for five years.
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Retail Gazette
APRIL 21, 2024
Asda underlying profits swelled by a quarter last year, fueled by increased food and clothing sales. The retailer reported an adjusted EBITDA of £1.078bn for 2023, with total sales, excluding fuel, jumping 7% to £21.9bn. Like-for-like sales rose 5.4%. Around half of all sales are linked to its reward programme, Asda Rewards , which it described as a “key revenue driver” for the business, with around six million customers using the app.
Inside Retail
APRIL 21, 2024
Woolworths New Zealand has rolled out team safety cameras to all of its 191 stores, following a successful 17-store trial. The move is part of the company’s $41 million, three-year investment program to improve store security. The company has reported a 75 per cent increase in physical assaults and a 148 per cent increase in serious reportable events during the past three years.
Retail Gazette
APRIL 21, 2024
Rapid grocery delivery app Getir is preparing to withdraw from the UK market in a move which is expected to put around 1,500 jobs at risk. The Turkish-founded company, which was once valued at nearly £9.7bn, is understood to announce next week its exit from the UK, as well as Germany and the Netherlands, the two other European markets it operates in, Sky News reported.
Inside Retail
APRIL 21, 2024
In the landscape of global commerce, few sectors evoke as much intrigue and promise as the consumer goods market in China. With higher than expected growth , a burgeoning middle class, and evolving consumer preferences, China stands at the forefront of the retail revolution. According to a report by Fung Business Intelligence (FBI) and China Commerce Association for General Merchandise (CCAGM), the consumer goods market in China is expected to grow in 2024 with the proactive policies of the gove
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