There’s big change at the top of Hera Clothing with owner Paul Richardson announcing a strategy restructure that means directors Holly Beadle and Georgia Streeton — his daughters — have become majority shareholders in the British fashion brand they’ve been running for the past few years.
Holly Beadle and Georgia Streeton – Hera
Richardson, the former chairman of Gymshark, bought the brand in October 2021. But while he was owner of the business that was originally founded in Cheltenham in 2015, its evolution has been spearheaded by Beadle as CEO and Streeton as chief brand officer since its acquisition. They’ve “successfully driven its rebranding and relaunch”.
The company said their key milestones have included expanding into womenswear, which now contributes 30% of total revenue; launching high-profile collaborations with Rachel Daly and Mat Armstrong; introducing Hera Rewear, a circular fashion initiative; launching with UK fashion e-tail giant ASOS; and securing a “landmark partnership” with global drinks giant Pepsi.
Hera
The sisters’ transition to co-owners sees them with a 66% joint share in the brand and “reflects their proven leadership, innovation, and impact in shaping Hera’s success. Over the years, Holly and Georgia have consistently demonstrated the ability to drive the company forward through strategic decisions and creative problem-solving,” we’re told.
Richardson added: “Holly and Georgia’s appointment as co-owners is a true testament to their exceptional leadership since the acquisition. They have successfully driven the business from day one, and their vision has transformed Hera into the brand it is today. Their journey is a powerful example of women in business, and I’m excited to see what they achieve in this next chapter.”
Fasahion/lifestyle retail group Matalan has launched a 27-piece collection in collaboration with fashion brand Little Mistress and TV personality Vicky Pattison.
She’s only the latest in a series of reality TV show stars to link up with a retailer on a signature collection. She rose to prominence originally on the Geordie Shore show.
We’re told it’s a collection that brings together “the best of on-trend designs with Matalan’s signature commitment to great quality fashion at affordable prices”.
From dresses and tailored jumpsuits to casual blouses and statement skirts, the collection covers a variety of day-to-night styles, “reflecting Pattison’s personal style”. It comes in “bold hot pink, fiery red, and playful florals”.
With prices starting from just £18 and in sizes from 8-22 the collection is now available in-store and online.
Matalan’s buying director, Laura Wiard said: “The collection reflects the latest trends, while ensuring we stay true to Matalan’s mission of providing stylish fashion at accessible prices.”
Mark Ashton, founder and MD at Little Mistress, added: “We’ve worked hard to create a collection that’s not only fashionable and versatile but also accessible for everyone. It’s all about empowering women to feel their best, no matter the occasion. We’re confident that this collection will resonate with customers and help them express their own unique style.”
The June edition of London Fashion Week has long been less of a draw compared to the main seasonal events during the big international fashion months and the latest move from the British Fashion Council has underlined that — it’s been cancelled.
There’s been no official announcement so far, but a quick look at the LFW website shows no dates for June listed.
The BFC will reportedly instead focus on the London Show Rooms Paris event it runs for UK-based brands from 26 June to 1 July, and menswear will be the key category here.
Caroline Rush, the soon-to-be-ex-CEO of the fashion council told Vogue Business that the showroom event will “generate sales and develop [brands’] relationships with international media outside of a show environment, reinforcing our commitment to providing vital commercial opportunities for British designers”.
The Paris showroom event had itself been on hold since the middle of 2023 but was relaunched last September.
The June edition of LFW has long struggled to gain the traction that the main seasonal events enjoy as a matter of course. Originally launched 13 years ago as London Collections: Men before it rebranded as London Fashion Week Men’s, it rode the crest of the wave of interest in men’s-specific runway shows and attracted the big names of British fashion.
But while it became a co-ed event in 2020, the wider move towards co-ed shows meant labels often chose February or September (or even another city) to show their menswear. The pandemic had an impact too, although the June event remained strong up to and including the 2022 edition before declining in 2023.
The switch to a focus on London Show Rooms Paris means those brands seeking a menswear-friendly format at a time when other menswear labels are being shown internationally have a hopefully-welcoming home in the heart of fashion’s premier city.
Premium fashion retailer Jigsaw has received a £5 million funding injection from investor David Ross, who built his fortune as the co-founder of Carphone Warehouse. It means he’s become the majority shareholder of the business.
Jigsaw
That’s according to Sky News, which reported the deal saying that an investment vehicle controlled by him is committing the money to the chain seven years after he first invested in the firm.
Before the latest cash injection, Jigsaw founder John Robinson was the controlling shareholder.
The retailer is soon to be without a CEO after short-term CEO Hash Ladha (the former chief executive of Oasis and Warehouse) recently said that he’d be leaving in the summer. The report also said that a new boss is in the process of being recruited.
Jigsaw has been a long-standing name on UK high streets having been founded in 1970. But the company is currently loss-making and has struggled in recent periods, seeking rent reductions from its landlords and closing loss making stores during the pandemic.
Its last set of results were filed last autumn (covering the year to January 2024). They showed revenue up to £57.495 million from £56.779 million and gross profit edging up to £36.7 million from £36.3 million. But it made an operating loss of £934,000 compared to a profit of £1.9 million in the previous year. The pre-tax loss was £3.567 million compared to a profit of £816,000 a year earlier and the final loss for the period was similar at £3.566 million compared to £802,000 in profit last time.
Sky quoted a “source close to Jigsaw” saying the new funding would establish a more resilient long-term financial foundation for the company.
As well as reducing debt, part of the cash will be used to improve fulfilment capability and build a new online proposition for the brand.
The company hasn’t officially commented on the report.