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Primark CEO Paul Marchant quits after behavioural ‘error of judgement’

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Primark was rocked on Monday as owner Associated British Foods said that the boss of the Anglo-Irish budget fashion, beauty and homewares retailer, Paul Marchant, has quit with immediate effect. This comes after an allegation made about his behaviour towards an individual in a social environment.

Photo, Sandra Halliday

It’s a big deal for both Primark and ABF with the retail chain contributing about half of the profits for its parent company and that strength seemingly set to expand as it rolls out more stores across Europe and the US.

The group, which is to release its next set of results — for the first half — late next month, said Eoin Tonge, ABF finance director, will act as Primark CEO on an interim basis. And Joana Edwards, ABF group financial controller, will step into his finance role for now. 

The company stressed that “both executives have the experience to perform these roles well”. Tonge has been at ABF since January 2023 and before that was at M&S, for almost three years, joining at CFO and becoming group CFO/chief strategy officer.

ABF had earlier launched an investigation that was carried out by external lawyers, into an allegation made by the unnamed individual about his behaviour towards her. Marchant “cooperated with the investigation, acknowledged his error of judgement and accepts that his actions fell below the standards expected by ABF. He has made an apology to the individual concerned, the ABF board and also to his Primark colleagues and others connected to the business”.

ABF CEO George Weston said: “I am immensely disappointed… we believe that high standards of integrity are essential. Acting responsibly is the only way to build and manage a business over the long term. Colleagues and others must be treated with respect and dignity. Our culture has to be, and is, bigger than any one individual.”

It’s a major disaster for Marchant himself who’s led Primark for over a decade and seen it go from strength to strength, despite the interruption to its business during the pandemic. 

Before jointing the company in 2009, he was COO of New Look for three years and prior to that spent eight years as trading director of Debenhams so is clearly a fixture in the UK fashion industry.

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Skechers signs Kiki Iriafen and Misa Rodríguez

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Skechers has added University of Southern California basketball standout Kiki Iriafen to its Skechers Basketball roster, while simultaneously welcoming Misa Rodríguez, goalkeeper for Real Madrid CF and 2023 World Cup champion, to its Skechers Football family.

USC forward Kiki Iriafen. – Skechers

Iriafen, expected to be a top pick in the upcoming 2025 WNBA Draft, will step into her professional career wearing Skechers Basketball footwear. 

Currently averaging 18.6 points and 8.5 rebounds for USC while pursuing a master’s degree at the Marshall School of Business, Iriafen joins fellow WNBA star Rickea Jackson and NBA standouts Joel Embiid, Julius Randle, and others in the Skechers basketball family.

“After two years on the court in the NBA and WNBA, it’s a big moment for Skechers Basketball to sign Kiki, our first college player, and embark on the journey with her as she begins her professional career,” said Michael Greenberg, president of Skechers. 

“Kiki is a rising star with a bright future in the league. We look forward to supporting her from the draft through her first season and beyond. As the second woman on our basketball roster, she also furthers our mission to engage with female athletes around the world so that more players everywhere experience the signature Comfort That Performs of Skechers.”

On the football side, Skechers signed Misa Rodríguez, who will compete in the brand’s high-performance SKX_1.5 Elite boots and appear in upcoming global campaigns.

Rodríguez adds to a stacked football roster that includes global stars like Harry Kane, Mohammed Kudus, and Oleksandr Zinchenko.

“We are very proud to have a player like Misa in the Skechers Football family, who, among many characteristics, stands out for her confidence, leadership, strength, and precision,” said Txerra Díaz, country manager of Skechers. 

“We continue to strengthen our position in the sport with a product of exceptional quality, already recognized for offering a technicality and comfort that allow for better and greater performance on the field.”

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Montblanc opens new Chicago boutique

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Montblanc has opened a new boutique in Chicago at 15 E Oak Street, relocating from its previous Michigan Avenue location. 

Montblanc opens new Chicago boutique. – Montblanc

The new boutique spans 1,427 square feet and blends modern design with Montblanc’s rich heritage. It houses the full universe of the brand including its signature writing instruments, Swiss-made timepieces, fine leather goods, and accessories.

“Chicago has long been an important city for Montblanc, with a discerning clientele that appreciates the Maison’s dedication to craftsmanship and excellence. With our new boutique on Oak Street, we are offering a space that not only showcases our iconic writing instruments but also our expanding collections in leather goods, watches, and accessories,” said Sylvain Costof, Montblanc president Americas. 

“This move is a testament to our commitment to creating immersive experiences for our customers so they can discover or re-discover the universe of Montblanc in a compelling way.” 

The boutique’s façade is crafted from two black striped concrete slabs featuring the silhouette of the Mont Blanc mountain and Montblanc’s emblem. 

Inside, Montblanc’s signature black-and-white aesthetic is elevated with golden details inspired by the Meisterstück writing instrument and coral touches drawn from the brand’s archive. Other design elements include lamps made from writing paper, calligraphy wallpaper featuring the infinite figure eight, and decorative wall nibs.

A store highlight is the Collectors Wall, where Montblanc’s most sought-after limited-edition writing instruments from collections like Great Characters, Masters of Art, and Writers Editions are displayed. An expanded timepiece collection is also featured. 

For the opening, Montblanc commissioned artwork from Berlin-based contemporary artist Alexander Iskin.

To complete the shopping experience, the boutique offers personalized services such as on-site embossing and engraving. 

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Prada to make a decision on Versace deal this week, source says

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Reuters

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April 6, 2025

Italian luxury group Prada is set to make a decision this week about a potential takeover of smaller rival Versace, a source close to the matter said on Sunday, as the negotiations enter a final phase.

Versace – Fall-Winter2025 – 2026 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

A deal to buy Versace, owned by New York-based Capri Holdings, would unite two of the biggest names in Italian fashion.

Italy’s Corriere della Sera newspaper reported on Sunday that a potential deal could be announced on Thursday, April 10 and the price for loss-making Versace could be reduced to 1 billion euros ($1.1 billion), one third lower than initial reports had indicated.

Italian daily La Repubblica reported on Saturday that Capri Holdings’ Chief Executive John Idol is expected in Milan in the coming days to discuss the deal.

Prada got exclusive four-week access to Versace financial data in late February, a period which has since been extended, according to media reports.

President Donald Trump‘s new tariffs have since sent shockwaves through global markets, adding an extra layer of complexity to the negotiations.

Versace, where former Miu Miu designer Dario Vitale assumed Donatella Versace‘s role as Chief Creative Officer this month, was bought by Capri Holdings for 1.8 billion euros in 2018, but has recently been operating at a loss

© Thomson Reuters 2025 All rights reserved.



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