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Loss-making John Smedley endures difficult year but offers hope for future results

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2 months ago

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October 13, 2025

John Smedley’s newly-filed results for the 12 months to the end of March show the company dealing with “a particularly difficult year”.

John Smedley

What that meant in numbers was that sales in the 2024/25 year were down 5.23% having dipped just 0.52% in 2023/24. And gross profit was down 7% having fallen 9.7% in the previous year.

Looking at the figures in more detail, turnover dropped to £16.8 million from £17.7 million with gross profit down to £7.7 million from just under £8.3 million.

The company made an operating loss of £1.175 million compared to a loss on that basis of £71,000 in the previous year. And the loss before tax was £720,000, worse than the profit of £270,000 the year before. The net loss was £495,000, a negative swing from a profit of £134,000 in the prior year.

Clearly, the company’s assessment of the period as being difficult wasn’t an exaggeration. It said the long-tail effect of a period of high inflation and peaking interest rates in several of its most valuable markets cause consumers to prioritise necessary spend over discretionary spend, with a knock-on effect on its wholesale business.

A much weaker Japanese yen also forced additional price increases in that important export market, which weakened distributor buying power and led to a decline in the forward order book across both seasons.

And it also blamed the UK government’s Budget last autumn that hit sentiment very hard with the very significant increases that were announced for employers’ National Insurance, as well as the National Living Wage and business rates. The increases here came in as of this April and will likely impact the current trading year, although as we can see below it has taken actions to improve its results for this year.

The company said it has responded to these challenges by increasing its prices, which it hadn’t done for the previous three seasons. It has also restructured the business with redundancies, reduced the size of the range to cut stock risk and paused investments. As a result, for the future it’s planning for a profitable and cash-generative business.

John Smedley has also completed its project to replace its Wash & Dye house based on its Lea Mills site. This uses the best equipment currently available and significantly reduces its energy usage.

It has also been launching interesting collabs such as the one unveiled only last week with actor Bill Nighy.

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Onitsuka Tiger launches its first fragrance line

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3 hours ago

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December 15, 2025

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December 15, 2025

Japanese footwear and sportswear brand Onitsuka Tiger is entering the fragrance world with its first collection of four scents, simply named ‘One,’ ‘Two,’ ‘Three,’ and ‘Four.’

Onitsuka Tiger “One”

Named ‘Wearing Quiet Radiance,’ the eau de parfum line symbolises the beauty of contrast and was conceived by world-renowned perfumer Mark Buxton. The fragrances draw inspiration from the fusion of tradition and modern innovation, combining craftsmanship with contemporary design- elements that have defined Onitsuka Tiger’s heritage, according to a statement.

The entire process of creating the fragrance line, from the selection and extraction of materials to blending and bottling, takes place exclusively in Grasse, in Provence, the world’s perfume capital.

The four fragrances, designed to evoke a sense of stillness that allows one to reconnect with one’s essence, are encased in elegant, bright-yellow bottles that reflect the brand’s distinctive colour, and are available in Onitsuka Tiger stores and on the Japanese brand’s official website.

Onitsuka Tiger One is built around green and mint notes, followed by lemon and mandarin. White florals and jasmine form the heart, while patchouli, leather, and guaiac wood add depth and resonance to the fragrance. Onitsuka Tiger Two opens with bergamot and lemon, joined by geranium and frankincense. Finally, velvety musk and sandalwood envelop the skin.

Onitsuka Tiger Three showcases the spicy, citrus nuances of angelica, followed by violet and marine notes. Smoky and spicy nuances then gently unfurl. In Onitsuka Tiger Four, peppermint and bergamot make an immediate impression, while absinthe and nutmeg add a bold accent. As the fragrance evolves, vanilla and vetiver add depth, and the scent ends with the crystalline clarity of citrus notes.

Founded in Kobe in 1949 by Kihachiro Onitsuka, the Japanese label originally produced only basketball shoes before becoming a lifestyle brand within the Asics group following a 1977 merger.

Europe is gaining momentum in Onitsuka Tiger’s business, as is the US, but the brand continues to rely mainly on its Asian operations, particularly in China and Japan. According to company president Ryoji Shoda, the brand generated revenue of 120 billion yen last year (705 million euros), almost double the figure from six years ago, with sales of its heritage range still accounting for the bulk of its revenue and generating substantial profitability.

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Pandora brings forward transition: Spanish executive Berta de Pablos-Barbier will take over as CEO in January

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3 hours ago

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December 15, 2025

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December 15, 2025

Pandora has brought its leadership transition forward to January. The Danish jewellery brand announced on Monday that the Spanish executive Berta de Pablos-Barbier, until now the company’s chief marketing officer, will assume the role of CEO on January 1, taking over from Alexander Lacik. The company announced this change in leadership in September and it had initially been scheduled for completion in March, at its annual general meeting.

Berta de Pablos-Barbier will take over as CEO of Pandora on 1 January 2026. – Pandora

Pandora has opted to accelerate this transition thanks to “a smooth handover by the current CEO, Alexander Lacik, and the appointment of Jennie Farmer as the new chief marketing officer,” the jewellery brand said in a statement.

In this regard, the chairman of Pandora’s board of directors, Peter Ruzicka, commented: “The handover from Alexander to Berta has been exceptionally smooth. With the addition of Jennie Farmer as CMO, we are pleased to be able to carry out the leadership transition faster than anticipated.”

The Spanish executive Pablos-Barbier, for her part, said it would be “an honour” to lead Pandora in its next stage.

“In recent years we have consolidated a strong brand with a unique position in the accessible jewellery market. My immediate priority will be to navigate the current market turbulence as we prepare to take advantage of our untapped opportunities as a comprehensive jewellery brand and drive long-term growth. We are building a bigger Pandora,” she added.

The current CEO, Lacik, will retire after nearly seven years as chief executive and president of the brand, although he will remain with Pandora as a special adviser to the board of directors and the executive committee until the company’s annual general meeting, which will be held on March 11 next year.

On Lacik’s contribution, Ruzicka thanked him for “his exceptional leadership.”

“Since his arrival, Pandora’s revenue has grown by 45% and total shareholder return has exceeded 200%. He leaves the company with a solid foundation and significant growth potential,” he concluded.

Starting next year, Jennie Farmer will replace Pablos-Barbier as chief marketing officer. Currently senior vice-president of brand experience and channels, she joined Pandora in January 2025 and has more than 25 years of experience with luxury and FMCG brands, from Procter & Gamble to LVMH.

“Pandora is an iconic brand with a track record of redefining the jewellery industry. I look forward to building on the strong direction set by Berta and driving bold, creative marketing that connects with consumers across all our segments and channels,” she said.

Jewellery giant Pandora is headquartered in Copenhagen and has more than 2,700 stores worldwide, with a presence in around 100 countries. Financially, it reported a 6% increase in revenue in the third quarter of the 2025 financial year.

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Heimstone to close doors after nineteen years

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4 hours ago

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December 15, 2025

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December 15, 2025

After nearly two decades of collections, womenswear brand Heimstone will close its doors, founder and artistic director Alix Petit announced on December 15. The decision comes amid diminished purchasing power and an increasingly tough market. The closure is planned in two stages: its physical boutique, located at 23 Rue du Cherche-Midi in the 6th arrondissement of Paris, will close on December 20, and its e-commerce platform will cease operating on December 30.

Heimstone is currently selling its final collection – Heimstone

“For nineteen years, I have poured immense energy, total dedication and passion into Heimstone, which has shaped me as much as I have shaped Heimstone. But a life is never made up of a single chapter, and I now feel naturally guided towards the end of a cycle,” said Petit in a press release.

An “exhausting” French system

“I am turning the page with clarity, pride and serenity,” she continued. “I feel neither nostalgia nor regret, only the profound certainty that it is time to close one door to open another. Above all, thank you. You have been committed, loyal and dynamic year after year. This community of women is without a doubt the greatest achievement of this adventure.”

The Heimstone adventure draws to a close after nineteen years
The Heimstone adventure draws to a close after nineteen years – Heimstone

The designer also spoke candidly in a video posted on social media, thanking her community as well as her long-standing partners, while criticising a French system that “wears down” industry players, far removed from its “official line.”

A brand with international reach

Heimstone made a name for itself with collections featuring flowing cuts and colourful prints, as well as numerous pop-up stores. The label made appearances in Marseille, Lyon, Lille and Bordeaux, as well as in Brussels and London. With Heimstone, Petit placed a strong emphasis on in-store concepts, regularly innovating. Collaborations included Damart, Catimini, Spartoo, Bocage, Bugaboo and Olivia Dar.

The brand enjoyed international recognition and sales
The brand enjoyed international recognition and sales – Heimstone

For sales, Heimstone relies on eight stockists, including Featsy by Piccadilly Circus in Annecy, By Mahe in Megève and Frimousse le Drugstore in Rennes. A graduate of Atelier Chardon Savard, Petit made Heimstone an internationally sought-after brand at the height of its recognition, with sales in the United States, the United Arab Emirates and across Asia.

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