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Fossil Group extends licensing agreement with Michael Kors through 2027

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February 13, 2025

Fossil Group announced on Thursday an extension of its long-standing licensing agreement with luxury fashion brand Michael Kors, securing their partnership through 2027. 

Fossil Group extends licensing agreement with Michael Kors through 2027. – Michael Kors

The agreement ensures that Fossil Group will continue designing, manufacturing, and distributing Michael Kors watches and jewelry worldwide.

“We’re delighted to announce the continuation of our long partnership with the Fossil Group. They’ve been a valued partner of the Michael Kors brand for many years,” said John D. Idol, chairman and CEO of Capri Holdings Limited and CEO of Michael Kors.  

The renewed deal builds upon a relationship spanning more than two decades, reinforcing Fossil Group’s position as a leader in the fashion accessories market.

“Our relationship with Michael Kors remains among our most valued licensed partnerships,” said Franco Fogliato, CEO of Fossil Group. 

“We are honored to have been entrusted with their brand for over 20 years and look forward to the exciting opportunities that lie ahead in our partnership.”  

Earlier this month, Fossil Group announced the appointment of Joe Martin as chief commercial officer and Antonio Carriero as chief digital information officer and general manager for the EMEA region. 

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Fashion

Unibail-Rodamco-Westfield tops 2024 financial target

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February 13, 2025

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Nicola Mira

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February 13, 2025

On Thursday, commercial real estate giant Unibail-Rodamco-Westfield (URW) reported a positive recurring net result, its benchmark financial indicator, of €1.47 billion, up 4.5% and exceeding the target set by the group.

Unibail-Rodamco-Westfield

The Westfield owner has reduced its financial debt to €19.5 billion, and generated €1.6 billion through asset disposals since January 2024, including the sale of the stakes it held in the Westfield Forum des Halles shopping mall and the Trinity office tower at La Défense in Paris.

In a conference call, URW CEO Jean-Marie Tritant hailed the group’s “excellent financial results” in 2024, notably the increase in net rents received in all of its business sectors: rents received were up by 5.8% in shopping malls, by 14.4% in office properties, and by 21.3% in convention and exhibition facilities.

In shopping malls, which account for the main share of the rents received by URW, the vacancy rate fell to 4.8%, its lowest level since 2017, while visitor attendance increased by 2.6% and retailers’ revenue by 4.5% compared to 2023.

EBITDA increased by 6.9% over 2023, reaching €2.35 billion.

Adjusted recurring earnings per share, URW’s benchmark profitability indicator, rose by 2.4% to €9.85 per share, above the target set between €9.65 and €9.80 per share.

In the last four years, URW has divested €6.4 billion worth of assets as part of its strategic transformation, a plan that Tritant described as “successful,” leading the group to decide to “retain our high-performing flagship assets in the US.”

URW will propose to pay a dividend of €3.50 per share.

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FatFace returns to Jersey for first time since 2021

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February 13, 2025

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February 13, 2025

FatFace is heading back to the island of Jersey. After closing its standalone store in 2021, the British fashion/lifestyle retailer returns with a 1,978 sq ft store on King Street, St Helier, this month.

FatFace

It opens in time to deliver the brand’s new spring collection as well as “iconic items from its core range”.

The St Helier location will create five new jobs and the stores director for FatFace said King Street is a prime location, “and this store represents our commitment to serving our loyal Jersey customers with a vibrant and welcoming shopping experience”.

The brand, which operates 189 UK stores, six in the Republic of Ireland, and over 20 stores in the US, began 2025 on a strong promotional footing, taking on a “transformative” three-year lead brand sponsorship of professional netball team London Pulse to “power of female sport, style, community and inclusivity”.

This year will see the FatFace brand emblazoned on the team’s shirts, gaining televised exposure via Sky Sports and BBC Sport coverage of the Netball Super League, where the partnership “will elevate the visibility of netball and FatFace to diverse audiences across the UK”.

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Stradivarius signs at Metrocentre with 10,000 sq ft regional debut

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February 13, 2025

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February 13, 2025

Inditex-owned fashion brand Stradivarius has signed to open at Newcastle’s Metrocentre, marking the brand’s first location in the North East. And for the centre’s operator, Sovereign Centros/CBRE, its impending arrival further underscores the destination’s “regional dominance in attracting the latest and most sought-after fashion brands”.

Stradivarius will open a near-10,000 sq ft space on its lower Red Mall this summer, just along from sister brand Zara while complementing the area’s already strong line-up of fashion retailers, including Reiss, Mango and the newly refurbished River Island.

The centre’s operator said Metrocentre welcomed 15.8 million visitors in 2024, a 10% increase compared to the previous year. Nearly 300,000 sq ft of deals were also completed in the last 12 months, driving a 9.2% year-on-year footfall uplift so far this year.

The strong growth in visits “reflects the centre’s ongoing success in attracting new brands while supporting the expansion of existing tenants, cementing its dominant position within the North East and contribution to the national retail landscape”, it noted.

Ben Cox, director at Sovereign Centros from CBRE, Asset Manager of the Metrocentre, added: “Stradivarius signing for this regional debut is a huge statement for Metrocentre, confirming its appeal as the premier retail destination in the North East. Inditex’s decision to bring another of its leading brands to Red Mall showcases our ability to deliver the best in fashion experiences to our growing and increasingly loyal customer base.”

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