While London’s Oxford Street is set to be the new home of its European flagship store this autum, Puma has decided the capital isn’t the power-base-of-choice for its UK HQ.
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The German sportswear giantis to relocate its head office from London to Manchester after signing for space in a new £87 million building, Circle Square in the city centre, which is due to open this summer.
The 20,000 sq ft space will become home to Puma’s sales, marketing, merchandising, finance, people, operations and direct-to-consumer departments.
Lucynda Davies, UK managing director, Puma, said: “The move to Circle Square and state-of-the-art facilities on offer forms a key part of our strategy for providing Puma’s employees with a first-class working environment with top facilities and amenities… all whilst being at the centre of a community which offers leading technology, fashion, AI and innovation.
“Being surrounded by such a strong line up of industry was an important factor, and to find somewhere in the heart of Manchester’s thriving tech community is exactly what we hoped for.
“Being based at Circle Square will also open up a host of opportunities to tap into the city’s creative talent pool and strengthen our existing links with academic partners like Manchester Metropolitan University – of which we get the added benefit of Bruntwood SciTech being a partner.”
She added: “We’ve already experienced many of the gains that a thriving city like Manchester affords, and in December 2024, we teamed up with Manchester City football club to launch an innovative AI platform for fans to flex their design skills for the club’s official third kit.
“Being the UK home of a global brand like Puma will be a powerful two-way partnership – helping support regional growth, as well as offering them access to workspace, talent and companies that will shape the future of innovation.”
Dick’s Sporting Goods has confirmed its $2.4 billion (€2.14 billion) acquisition of global sneaker retailer Foot Locker, validating earlier reports from the American press. The deal, priced at $24 per share, includes roughly 2,400 stores operating in nearly 20 countries.
Interior view of a Foot Locker store in Paris. – Foot Locker
Foot Locker shareholders will be able to choose between a cash payout or shares in Dick’s Sporting Goods. The transaction values the company at 6.1 times its EBITDA.
Dick’s Sporting Goods confirmed it plans to retain all of Foot Locker’s brand banners, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. Combined, these brands generated $8 billion in revenue during the last fiscal year.
Based in Pittsburgh and founded in 1948, Dick’s Sporting Goods reported $13.4 billion in revenue last year. The group currently operates more than 850 stores across the U.S. under several banners: Dick’s Sporting Goods, Golf Galaxy, Public Lands, and Going, Going, Gone!. It also manages e-commerce channels and the Dick’s mobile app.
In addition to its core retail network, the company operates experiential concepts like Dick’s House of Sport, Golf Galaxy Performance Center, and GameChanger — a digital platform offering live streaming, scheduling, and team management for youth sports.
“We’ve long admired the cultural relevance and value of the Foot Locker brand and its dedicated team of Stripers,” said Ed Stack, executive chairman of Dick’s, referring to the retailer’s recognizable store associates.
“We believe there’s significant growth potential ahead. By applying our operational expertise to this iconic business, we see a clear path to unlocking further growth and strengthening Foot Locker’s position in the market. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports consumers.”
The acquisition marks Dick’s first major push beyond the U.S., presenting new opportunities as well as strategic challenges. The company expects to realize synergies between $100 million and $125 million.
“We look forward to welcoming Foot Locker’s talented team and leveraging their expertise and passion for the business, which we intend to honor and amplify together,” said Lauren Hobart, president and CEO of Dick’s. “Sports and sports culture remain incredibly powerful, and with this acquisition, we’re creating a new global platform that will meet these needs through iconic concepts consumers know and love, enhanced stores and omnichannel experiences, and product assortments that resonate across diverse customer bases.”
The transaction remains subject to standard regulatory approvals, including antitrust review, and is expected to close in the second half of 2025.
Vuitton has reopened its summer restaurant in Saint-Tropez, underlining the luxury label’s increasing investment in culinary experiences.
Vuitton’s summer restaurant returns to Saint-Tropez, blending luxury and leisure. – Courtesy of Louis Vuitton
Located at the plush White 1921 Hotel near the House’s historical store, the restaurant reopens today with an updated menu served on the latest colorful Louis Vuitton tableware collection.
Last year, Vuitton’s Saint-Tropez restaurant was awarded a Michelin star, thanks to its updated Mediterranean fare—from marbled tomatoes and ravioli filled with girolles to roasted fowl with a fine velouté or brill meunière prepared with seaweed and citrus.
The reopening also marks this summer’s return of hyper-mediatic chefs Arnaud Donckele and Maxime Frédéric to Vuitton in Saint-Tropez. Donckele and Frédéric first connected with Vuitton’s parent company, LVMH, at the conglomerate’s five-star hotel in the French capital, Cheval Blanc Paris—most notably at Plénitude, the hotel’s three-star restaurant.
Vuitton’s summer menu blends French flair with global finesse. – Courtesy of Louis Vuitton
In Saint-Tropez, Vuitton’s restaurant is situated on the famed Place des Lices, site of the resort port’s renowned Provençal market each Tuesday and Saturday.
Beyond Saint-Tropez, Donckele and Frédéric play leading roles in developing the Louis Vuitton Culinary Community, mentoring emerging local talents around the world who, as Members, contribute to the Louis Vuitton luxury snacking vision.
Vuitton now boasts eateries in Milan, Tokyo, Osaka and Bangkok, each overseen by chefs within the Culinary Community. Vuitton cafés have also sprung up in Paris, New York, Bangkok, Japan, Chengdu and soon in Shanghai and Seoul. In effect, the Saint-Tropez restaurant is designed to trumpet Vuitton’s longer-term vision of extending the House’s concept of excellence and savoir-faire to hospitality around the world.
“We are dedicated to bringing customers a relaxed Louis Vuitton culinary experience—whether in Saint-Tropez or any other destination around the world,” said Donckele.
Chefs Maxime Blanc, Maxime Frédéric and Arnaud Donckele lead Vuitton’s culinary vision. – Courtesy of Louis Vuitton
Added Frédéric, “The Culinary Community allows us to align the Louis Vuitton hospitality offering while still encouraging the chefs to flourish according to their own skills and creativity.”
The Saint-Tropez space blends a bright floral pattern similar to a motif seen in LV’s 2025 Women’s Resort collection, designed in a geometric pattern that reinterprets the Monogram Flowers and made in extra-white Limoges porcelain. The ambiance is enhanced with reinterpreted Objets Nomades pieces such as the Mini Bell Lamps designed by Barber & Osgerby and Zanellato/Bortotto’s lamps enclosed within interwoven leather.
Mixing seasonal and regionally sourced ingredients, the menu merges Mediterranean, French and global cuisines—from Wagyu beef in an aromatic bouillon to grilled bluetail lobster with a shiso-infused sauce to sole amidst locally grown herbs and flowers.
The Saks Global and Authentic Brands Group partnership has been a big talking point of late so it was good timing that Authentic’s CEO Jamie salter and Saks’ executive chairman Richard Baker were on stage together on day two of the World Retail Congress in London this week.
Jamies Salter of Authentic and Richard Baker of Saks Global
They said they believe the Authentic Luxury Group JV could boost margins, take control of luxury away from vendors and towards retail and make the most of the brand strength of Saks to drive global partnerships.
Authentic is well known as the acquisitive buyer of brands such as Nautica, Volcom, Aéropostale, Lucky Brand, Nine West, Ted Baker, Juicy Couture and many more. But while it had a presence at the higher-end, its 50/50 joint venture link-up with Saks Global last autumn was key.
“We wanted to get into the luxury space but it’s all about distribution,” said Salter. “When we look at brands, what is really important with us is that they can make the right margin. If you look at the business model today, margin is everything. Getting together with Saks was critical for us. If you are not making low-to-high-60s in the maintained margin it’s very difficult.”
Baker also commented on the rationale for the partnership, saying that in premium and luxury, there were too many vendors, too much discounting, and not enough margin. “We had to do it, or there would be no industry left in the United States.” With more than $9 billion in GMV, control of over 60% of the US luxury market, and the backing of Amazon, Salter and Baker believe they’re creating a next-gen model where retail, data, licensing and media converge.
The JV has bold ambitions and Salter said “the model truly works. But we’re not just in retail, we’re also in hospitality business, we’ll see Saks branded residences going out, which also means people will buy home products for those. We already have projects on the go, and have people in the Middle East and Asia Pacific looking at doing a Saks store, a condo and a hotel”.
For now, a key part of the deal is the newly launched Saks store within Amazon — a digital “walled garden” that preserves brand integrity while giving access to Amazon’s mega-sized global audience. Salter said that with Amazon building similar luxury platforms in the UK, Japan, India and the Middle East, within five years “luxury on Amazon is going to be the most natural thing you ever imagined because they have the most elegant execution and most reach of anyone in the world online”.
The link-up between the two also sees them overhauling the Saks business, cutting underperforming brands and prioritising premium partnerships.
And they’re helped in this process by customer data as they share over 250 million customer profiles across their businesses, offering them up-to-the-minute insight into who’s buying what, where, and why.
With that weapon to wield, Saks is likely to edit out 500-600 brands out and shift towards “controlled brands”, with a larger margin, aiming at around 20% of sales from these product ranges.