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UK retail footfall enjoy four-week positive run, latest boosted by school holiday

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February 25, 2025

UK retail footfall is on a roll in February, enjoying a fourth consecutive week of growth across all UK retail destinations, according to MRI Software’s latest data.

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Last week alone (17-23 February), overall footfall increased 8.2% compared to the previous week, with high streets leading the way (+11.6%), followed by shopping centres (+9%). Retail parks however, saw only a marginal uplift of 0.1%.

Year-on-year footfall levels also remained higher across the board, though the shift in timings of this year’s half-term may have influenced these trends, MRI noted.

Across the week, footfall rose daily in all UK retail destinations, aside from Friday (-4.6%) which coincided with a change in weather conditions. High streets and shopping centres saw double digit rises compared to the week before on three out of the seven days suggesting shoppers “were out in full force making the most of the half-term activities”.

Monday and Tuesday were the strongest days with an average rise of 20.9% recorded in all UK retail destinations. This was much higher in high streets and shopping centres at +25.5% and +22.3%, respectively.

Central London witnessed the strongest week on both a week-on-week and year-on-year basis followed by historic and coastal towns, suggesting day trips or holidays by the coast were popular, especially as much of the week saw mild weather conditions.

Regionally, the East of England (+11.3%) and Greater London (+12.9%) were the clear winners with double-digit rises recorded week on week. Scotland, however, saw footfall decline 4.4% last week from the week before and down by 1.1% from 2024 levels.

MRI Software’s Central London ‘Back to Office’ benchmark also revealed strong trends week-on-week, however much of this may also have been driven by visitors to the capital during half-term. Aside from Scotland, all regions reported positive trends with Greater London and the East of England seeing double-digit rises compared to the week before.

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Multiply Group acquires 67% stake in Spanish fashion conglomerate Tendam

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Nazia BIBI KEENOO

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February 25, 2025

The Spanish fashion conglomerate Tendam has a new majority owner. Nine months after canceling its plans for an IPO in Spain, the investment vehicle of the Abu Dhabi royal family, Multiply Group, has acquired a 67% stake in the company from private equity firms CVC Capital Partners and PAI Partners. The deal values the company at over €1 billion, according to reports from the business daily Expansión.

Multiply Group acquires a 67% stake in Tendam, strengthening its presence in the global fashion market. – Tendam

The acquisition follows unsuccessful attempts to take Tendam public, as the market conditions failed to meet the expectations of CVC and PAI Partners. Both firms had been part of Tendam’s ownership since 2006, following a complex bidding war that also involved private equity firm Permira. In 2017, CVC and PAI Partners acquired Permira’s 33% stake, becoming the sole owners.

According to the same source, in addition to IPO attempts, CVC and PAI Partners had also explored other options for the company, including selling it to investors with an industrial profile or to the department store group El Corte Inglés.

Formerly known as Grupo Cortefiel, Tendam’s portfolio includes Women’secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Milano, Fifty, and Hi&Bye. The group operates more than 1,760 points of sale across 80 countries, including standalone stores, department store corners, and franchises. It also maintains an online presence through over 33 websites.

Based on its latest financial data, Tendam recorded a 4.6% increase in sales in the first quarter of its fiscal year 2024, which ended on May 31. During the period, it reached a turnover of €253.8 million.

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Gucci opens Milan Fashion Week in Castleton Green

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February 25, 2025

What a difference a different colour and an Oscar-winning composer can make to a fashion show, as Gucci showed in its first post-Sabato De Sarno collection in Milan on Tuesday.
 
The debut show of the six-day Milan Fashion Week, the show and set were useful reminders of Gucci brand power, something far too many people have forgotten lately.
 
Gone was the deep purple that obsessed the banished creative director. Instead, the green room, invitations, curtains, and banquette seating inside the huge show space were hearty Castleton green. Even the catwalks were done in two massive interlocking green Gs.

A model walks the runway in Gucci’s Castleton green show space, reflecting a new direction for the house. – Photo Credits: Godfrey Deeny

 
Presented inside Superstudio Maxi, a giant party club in south Milan, the show was blessed with a fantastic original soundtrack by Justin Hurwitz, who won two Oscars for Best Original Song and Best Original Score for La La Land. He energetically conducted a live chamber orchestra before a front row, where Kering CEO and Gucci patron François-Henri Pinault sat beside Julia Garner, Jessica Chastain, Parker Posey, Jannik Sinner, Yara Shahidi, Dev Patel, Xiao Zhan, and Wen Qi—not bad going for a house without a designer.
 
A rousing performance that drove forward this show and collection, a cautious yet snappy array of Gucci hits over several decades created by the in-house design team. Ranging from ’60s fur and deep mohair peacoats; to knee-length skirts slit up the side, big-button tunics, or some perfectly cut Donegal tweed business suits. Dolce Vita damsels out for a stroll, certain to make heads turn.

Gucci’s runway featured rich textures and fluid silhouettes, blending heritage with modern elegance. – Photo Cresits: Godfrey Deeny

 
All the way to the 90s slip dresses, oversized coated blazers with peak collars, or bouclé wool mini cocktails. Best of all were the interlocking G-print velvet dresses and the semi-sheer skirts paired with velour leotards and worn with gold stirrup pendants, adding plenty of oomph. All this was worn with several new takes on the 1955 horse-bit bag that looked very commercial.
 
There was a time under Alessandro Michele, when the Gucci girl looked like she lived in Brooklyn. None of these girls looked like they ever took a subway. 
 
Halfway through, the chamber orchestra changed rhythms and out came the menswear collection, featuring a sharp new double-breasted suit with an elongated jacket and slim pants, slashed at the back at the ankle and worn with natty leather slippers. Noting too awe-inspiring, but decent merch as were some great scrawny mohair cardigans. Though quite why there were six versions of the same coat, albeit in different materials was hard to comprehend.

Gucci’s menswear collection featured sleek tailoring with modern proportions and effortless elegance. – Photo Credits: Godfrey Deeny

  
“We wanted to make a brand statement,” said Gucci CEO Stefano Cantino. And the house most certainly did with an excellently staged show that ended with a score of young designers taking a joint bow at the bandstand. All dressed in Castleton green sweatshirts.

Despite it being one of those foggy days when clouds descend like lumpy porridge from the Alps and Milan looks very mournful, several thousand fans swarmed around outside, cheering each star as they exited. Gucci may have suffered several tricky years and seen revenues fall 20% in the most recent quarter, but judging by these fans; the label is still a major cult marque.
 
The house was mum about the eventual successor to De Sarno, though an announcement is expected in the next several weeks – with Hedi Slimane the designer with the shortest odds.
 
Business may have been weak but there is plenty of life in the house of Gucci.
 

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Bill with tougher measures for retail crime reaches parliament

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February 25, 2025

Tougher laws on UK retail crime are taking their first steps through parliament today (Tuesday 25 February).

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The government’s Crime and Policing Bill, which will mostly apply in England and Wales, contains over 50 measures including stricter penalties for shoplifting of items under £200 and making it a new offence to assault a shop worker.

It also contains new ‘Respect Orders’, reminiscent of the Anti-social Behaviour Orders introduced by the last Labour government before being abolished in 2014.

Current laws don’t go far enough for shoplifting theft under £200 and such crimes can only be tried in a magistrates court.

Home secretary Yvette Cooper said: “The new Crime and Policing Bill is about taking back our streets and town centres, restoring respect for law and order, and giving the police and local communities the support and tools they need to tackle local crime.”

The British Retail Consortium warned in January that retail crime is “spiralling out of control”, hitting its highest level on record. Theft alone is now costing retailers £2.2 billion a year while violent and abusive incidents were up more than 50% last year. The crime prevention cost for stores is around £1.8 billion annually.

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