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IKEA to close seven stores in China amid strategy shift

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January 7, 2026

Furniture retailer IKEA is closing seven stores in China from February 2, it said in a statement on Wednesday.

Logos of IKEA are displayed at the company’s booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 5, 2025 – REUTERS/Maxim Shemetov

The stores earmarked for closure include one in suburban Shanghai, another in Guangzhou, and several more in second-tier Chinese cities ⁠such as Nantong, Xuzhou, and Harbin, IKEA said in the statement posted to its ⁠official WeChat account.

Retailers in general have been struggling to grow sales in China, where consumer sentiment remains muted following a ‍prolonged ‌property crisis and concerns about employment security and stagnant ⁠wages. There are currently ‌around 40 IKEA stores in mainland China, ‌and the statement said five new stores of various sizes have recently opened.

China, the world’s second-largest economy, accounts for around 3.5% of IKEA’s global sales. ‍With a growing percentage of sales in the country coming from online flagships, IKEA opened a new store ‌on ⁠JD.com ​last August to help cultivate that ⁠online sales ​growth.

“We will shift from scale expansion to precise cultivation, exploring Beijing and Shenzhen as key markets, ​and opening more than 10 small stores in the next two years,” IKEA said ⁠in its statement, adding ⁠that new store openings in Dongguan and Beijing were expected in the first half of 2026.

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Burberry doubles down on heritage with gabardine capsule launch

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January 12, 2026

Innovation (1879 style) and new product (spring 2026 style) come together to celebrate Burberry’s new Gabardine Capsule.

Burberry

Taking to the highlands of Snowdonia, Wales, the luxury London fashion house highlights the “enduring appeal” of gabardine, with a film featuring the house’s new version of its protective outerwear.

It’s part of the return to its core categories and heritage strategy put in place when CEO Joshua Schulman arrived at the company, a strategy that appears to be paying off so far.

Showcasing “styles made for the elements”, the film stars explorers Connaire Cann, Jesse Grylls and Marlon Patrice alongside models Iris Lasnet and Zhuó Chen, presented in “the rich beauty of the British landscape and its glorious, unpredictable weather”.

Marking 170 years of Burberry, the Gabardine Capsule pays homage to the revolutionary fabric invented by Thomas Burberry. The collection features both products produced from, or detailed with, elements of gabardine, as well as complementary knitwear and layering products in cotton jersey.

Burberry says its pillars of outerwear heritage – from parkas and down-filled styles to quilted, Harrington and bomber jackets – are reimagined in brushed cotton nylon gabardine, dyed in the capsule colour palette of hamper beige and juniper green.

Layered underneath is ribbed knitwear in wool cashmere, alongside cotton mélange hoodies, jogging pants and T-shirts – designs that come detailed with gabardine panels and trench elements, including signature epaulettes.

Symbolising the brand’s connection to the countryside and outdoor pursuits, the capsule features a specially designed label inspired by an archival 1993 campaign: ‘Burberrys grew out of country life’, stitched inside coats and jackets, appliquéd onto jersey pieces and featured on an intarsia-knit sweater.

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Adidas challenges players to ‘Choose a Side’ as Yamal and Bellingham front latest Predator and F50 campaign

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January 12, 2026

Do you choose chaos or control? That’s the question behind the latest Adidas football boot spring/summer campaign for its latest Predator and F50 products.

Jude Bellingham for Adidas

Consumers are asked that same question, inviting players to choose either chaos (via Lamine Yamal and F50), or control (Jude Bellingham and Predator), with both Adidas styles receiving “striking” colour updates for spring/summer 2026.

“More than just a boot launch”, the campaign “captures a playful rivalry that has taken over the game”, asking footballers around the world to “choose one” – either Team Predator or Team F50.

While the new Predator Elite FT is designed for “control, enabling players to execute with precision in high-pressure moments”, the F50 Elite is for those “who break with convention, players who push themselves to the limit to create unexpected brilliance”.

Of course, the campaign features two of football’s biggest names – Yamal (“chaos personified”) and Bellingham (“the master of control”), starring in a film that “brings to life picking between electrifying pace and game-breaking skill or calmly commanding any situation on the pitch”.

Predator will be also worn on pitch by star players including Bellingham, Trent Alexander-Arnold, Pedri, Alessia Russo and Aitana Bonmati while, alongside Yamal, F50 will be put through their paces by players including Ousmane Dembélé, Florian Wirtz, Vicky Lopez and Trinity Rodman.

Sam Handy, GM Football at Adidas, said: “Through this campaign, we’re igniting a conversation that sits at the heart of football culture. These boots are about more than just innovation; they represent the two fundamentally opposing forces that define the modern game: raw speed and ultimate control.”

The F50 Elite (£235/€270) and Predator Elite Fold-Over Tongue (£245/€280) models are available to purchase from today, in-store and online.

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Superdrug owner plots London Stock Exchange IPO

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January 12, 2026

It could be a big year for Superdrug and The Perfume Shop owner AS Watson, as well as for the London Stock Exchange, with news that Watson’s owner is planning a London IPO.

Image: Superdrug

It’s been reported that bankers have already been appointed for the share listing by the Hong Kong-based group that’s owned by CK Hutchison holdings Ltd.

Onwed in its turn by billionaire Li Ka-shing, it’s said that it would actually be a dual listing, happening in Hong Kong as well as London, according to people familiar with the matter who declined to be identified in an initial report by Bloomberg.

Bloomberg News had previously flagged a potential IPO that could raise as much as $2 billion. But the sources said the timing and size of the IPO haven’t yet been decided. And the entities concerned haven’t commented so far.

Superdrug and The Perfume Shop are two of the major beauty retailers in the UK, but the wider business operates in 31 markets with 17,000+ stores. Other chains include Germany’s Rossmann and Watsons that operates across Asia.

Superdrug’s sales last year added up to £1.6 billion last year, which means it’s number two in the UK but still quite a long way behind the giant Boots business, although it’s growing strongly.

If its parent listed on the LSE, it would be a big boost for London as a financial centre. It has lost its crown as the key location for listings in recent years and seems to have lost out on what would have been an undeniably controversial listing for Shein in recent periods. 

AS Watson would be far more palatable and its arrival on the LSE would set the seal on London’s fightback, especially after last year’s surge in valuations for company’s on its elite FTSE 100 index.

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