Connect with us

Fashion

CBI says UK retail sales stayed weak in February

Published

on


Published



February 26, 2025

The CBI has released its assessment of retail sales during February and while doesn’t provide a lot of detail about what happened across the wider industry, it’s a very useful early clue to what went on before the more detailed reports come out.

So what did go on? The CBI’s Distributive Trade Survey said “poor sentiment among retailers lingers as sales continue to fall”.

Year-on-year retail sales volumes declined in February for the fifth consecutive month, and retailers expect sales to fall at a somewhat faster pace in March.

They also remain downbeat about their future business situation, and this sentiment was reflected in their expectations to cut back on headcount and capital expenditure going forward. In particular, investment intentions worsened to the greatest extent since May 2019.

First some caveats. The survey doesn’t use actual sales figures. Instead, it’s data is all about the weighted balance of those saying retail sales fell or rose to some degree or another.

So, for February, the weighted balance of those saying retail sales fell was broadly similar to last month (a weighted balance of -23% from -24% in January). And the balance tips towards more expecting that sales will fall in March (-30%).

February sales were judged to be “poor”, to a greater extent than last month (-34% from -24% in January). Retailers expect that March sales will also disappoint compared to seasonal norms, but to a modestly lesser degree (-27%).

Sentiment among retailers remained poor in February, with firms expecting their business situation to deteriorate over the coming quarter (-19% from -21% in November).

As mentioned, retailers also expect to reduce investment in the next 12 months (compared to the past 12 months) to the greatest extent since May 2019 (-56% from -27% in November).

Headcount in retail also declined at a moderate pace in the year to February (-13% from -18% in November). Employment is expected to fall at a broadly similar rate in March (-15%).

Martin Sartorius, Principal Economist, CBI, said: “February marked another month of falling annual sales in the retail sector. Looking ahead, retailers expect a sharper sales downturn in March, partly due to the later timing of Easter compared to last year.

“Persistently weak demand conditions and the impact of the Autumn Budget have dampened retailers’ sentiment, contributing to the steepest deterioration in investment intentions in nearly six years. These worrying data make it clear that the government’s plan to kickstart growth is now more important than ever.

“Businesses need a boost in confidence after a tough period that has seen their overheads increase and headroom for investment squeezed. Reforming business rates and the Apprenticeship Levy would go a long way to support firms as they work alongside government to create the jobs, investment, and growth that we all want.”  

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Together buys Imerza and V1 to boost delivery of luxe “transformative customer experiences”

Published

on


Published



February 26, 2025

Together Group has announced two acquisitions, Imerza and Visualisation One, for an undisclosed price. They’re “pioneers in digital twin technologies, immersive content production and digital animation”. 

Together Group

The company is a “curated collective of high-quality creative consultancies, immersive technology, marketing and production studios, crafting the future of luxury and lifestyle experiences”.  It includes Harvey Nichols, Dior, Liberty, Skims, Selfridges, Chanel and Louis Vuitton among its clients and said the “strategic acquisitions enhance [its] ability to deliver transformative customer experiences across all key luxury segments, including real estate and placemaking, as well as fashion, beauty, hospitality, art, design and culture, responding to the growing demand for innovation in the experience economy as well as for the coming together of luxury and entertainment”.

For instance, for fashion and beauty, Together said “next-generation digital flagship store environments, interactive product try-ons, and personalised, immersive virtual shows and campaigns can redefine consumer engagement”.

And CEO Christian Kurtzke added: “We create emotionally engaging and highly-personalised immersive digital luxury experiences that reach well beyond what traditional websites, movies or live events can offer. The integration of Imerza and Visualisation One allows us to offer unparalleled capabilities in digital twin and realtime visualisation technologies, creating life-like digital environments driven by real-time data – empowering destinations and brands to reimagine the way they connect with their audiences in both physical and virtual worlds. In short, we blend creativity, culture and cutting edge immersive technologies to take ideation, storytelling and entertainment to the next level.”

So what do the two businesses it has bought do? Imerza is a US leader in architectural game-engine technology and visualisation and is Epic Games’ official US partner studio for Digital Twins.

And Visualisation One (V1), led by founder Vince Flynn, is known for its cinematic architectural visualisations and immersive VR experiences for “top-tier global clients”.

The integration of both into Together Group’s Noë & Associates Studios “will create an advanced hub for immersive digital innovation and experiences, with offices in London, New York, and Dubai”, in addition to Imerza’s and V1’s respective HQs in Florida, US, and Chester, UK.

Noë & Associates Studios is a “curated collective of contemporary artists, next-gen technologists, and artisans tasked with redefining how people interact with environments, realms, and ,” we’re told.

The new additions “significantly expand Together Group’s ability to serve brands in sectors undergoing profound transformation”.

The company added that buying the two businesses means it has made its 12th and 13th acquisition since the group acquired its first agency, Purple communications in 2021. 

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Soeur strengthens its CSR commitments and expands its second-hand offering

Published

on


Translated by

Nazia BIBI KEENOO

Published



February 26, 2025

Even before the official launch of its second-hand service, Soeur had already recorded strong interest from thousands of customers. The French premium womenswear brand invited its clientele to participate in this new initiative, which went live on Feb. 26. As part of the project, the label, acquired last year by the Style Capital fund, has introduced a “Second hand” tab on the homepage of its e-commerce site.

Soeur launches its second-hand offer on February 26. – Soeur

The initiative, which took several quarters to develop, was created in collaboration with resale specialist Faume. Customers can drop off their old pieces at Soeur boutiques.

“We take back all products from collections after 2021, provided they are not damaged. Customers receive a voucher that, for the launch phase, is worth approximately 50% of the product’s full-price value,” explained Freja Day, Soeur’s general manager. She also noted her surprise at the overwhelming customer interest in the initiative.

Launching a second-hand platform remains a bold move as brands continue to refine profitability models for resale. “We approached this project more from a CSR conviction,” said Day. “This has been on our radar for some time, but before, we were too small to take on such a complex initiative. Now, we’re in a better position to absorb it. We started by working on material certification and factory audits, then trained our teams on the Climate Fresco. We’ve built collective expertise on these issues. It’s an important topic and one that resonates internally. I also see it as a long-term brand positioning strategy. Soeur has always promoted a timeless vision of fashion—classic with a subtle twist, designed to stand the test of time. This project allows us to demonstrate that commitment.”

For Day, the initiative also reinforces the creative vision of Domitille Brion, Soeur’s creative director and co-founder. The 52 Soeur boutiques trained their staff to assist customers with the resale process, while logistics and final product preparation are managed by Faume, which also works with brands like Ba&Sh, Ami, and Isabel Marant.

Soeur’s director sees an opportunity to offer an alternative to major resale platforms like Vinted and Vestiaire Collective. “I believe we’re taking a different approach. Customers bring their items to the store, where our team verifies them, and they can immediately use their vouchers toward the new collection. Compared to online platforms, this is a more convenient process. We offer an in-store drop-off service, which is ideal for customers who don’t have the time or prefer not to handle the resale process themselves,” said Freja Day.

This service, paired with a voucher positioned as “advantageous” for customers, is expected to help the brand establish a foundation for this new initiative. “This is a key element. It will take several weeks to fine-tune operations across different boutiques. The mechanics need to fall into place, the site must become engaging, and we need to offer between 100 and 200 items to make it appealing to customers. “Collection will be essential for this,” admits the CEO of the label, which saw its sales rise by 25% last year, surpassing the €65 million mark in 2024.

Soeur

Priced lower than new items, these products could attract a new clientele while also offering a fresh appeal to the brand’s loyal customer base. “We have certain pieces that sell out very quickly, and we rarely reproduce them identically. Through our second-hand offering, customers will have the opportunity to find these rare pieces”.

According to the economic observatory of the Institut Français de la Mode, second-hand fashion already represents 12% of the French market. A recent consumer survey revealed that 32% of shoppers who have purchased second-hand believe new products are too expensive and now prefer pre-owned items. Introducing a second-hand offering allows the brand to adapt to this rapidly growing trend, particularly among younger consumers.

Still strong growth prospects in 2025

Despite the second-hand segment not representing a significant share of Soeur’s revenue by 2025, the brand remains focused on expanding its international presence. Currently, 35% of its sales come from online channels, and it is actively working on establishing a stronger foothold outside France.

The opening of a flagship store in Milan by the end of the year, spanning 200 square meters over three floors, is a testament to these ambitions. “We’re ahead of our targets. We see that customers are navigating very well in the different universes expressed,” says Freja Day. The brand has identified its ideal store size as over 100 square meters and plans to open new flagship locations in England, Spain, Italy, and Belgium following a successful 2024 in London. Additionally, five to six store refurbishments are scheduled each year in France.

Soeur is accelerating collaborations with key accounts and multi-brand partners to strengthen its international market position. As part of its long-term growth strategy, the brand is also gaining momentum in Asia, particularly in China, Japan, and South Korea.

The CEO, who focuses her investments on creative teams to introduce distinctive elements to the market, is aiming for further double-digit growth in 2025 despite market uncertainties. Freja Day forecasts a 20% increase in sales.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Giuseppe Zanotti buys back minority stake from LCatterton

Published

on


Translated by

Nazia BIBI KEENOO

Published



February 26, 2025

Giuseppe Zanotti regains full ownership of his eponymous luxury footwear brand after LCatterton sells its 30% minority stake in the Romagna-based company back to the designer.

Giuseppe Zanotti

LCatterton, which has held a 30% stake in Giuseppe Zanotti since 2014, played a key role in expanding the brand’s global presence through investments in innovation, retail, and digital. Now operating in over 60 countries with a curated network of exclusive boutiques and retailers, the luxury footwear brand is set to continue its growth with a renewed strategic vision. The transfer of ownership ensures continuity in the brand’s direction, focusing on product innovation, craftsmanship, brand identity, and strengthening distribution across both physical and digital channels.

The transaction marks a new chapter for the maison, renowned for its jeweled accessories, sculptural heels, and couture sneakers, often seen on international red carpets. “I thank LCatterton for their support and collaboration over the years. This step not only represents a return to our origins but also a renewed vision for the future, allowing us to continue our medium- to long-term development strategy with complete autonomy. Fashion is an expression of freedom and creativity, and I am thrilled to lead this new phase with the same drive, dedication, and passion as always,” said Giuseppe Zanotti.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Trending

Copyright © Miami Select.