In more than a nod to the strong performance the UK’s major shopping centre sector is enjoying, Hammerson is to acquire the remaining 50% of Birmingham’s Bullring and Grand Central for £319 million cash.
Bullring
CEO Rita-Rose Gagné said of the purchase:“This is an exciting milestone for Hammerson. Our investment alongside key trusted brand partners has seen Bullring deliver a standout operational performance in recent years, cementing its reputation as a top five UK destination.
“Birmingham is a thriving, growing city and our dynamic catchment continues to drive footfall and sales growth. Full control of this super prime asset allows us to consolidate the position of our Birmingham estate at the heart of the UK’s second city and explore new opportunities to deliver enhanced value and risk-adjusted returns.”
Hammerson said the Bullring continues to benefit from over £30 million of landlord investment alongside £75 million of occupier investment since 2021, “delivering standout operational and financial performance in recent years”.
In 2024, footfall was up 3% to 33 million visitors, and sales rose 11%. In H1 25, footfall was up 5% and Q2 was “exceptionally strong”, up 8%, with June alone up 12% year-on-year.
Like-for-like sales there have followed a similar trend, up 4%, with Q2 up 5%. Total sales were up 6% in H125.
It now intends to raise up to 10% of existing issued share capital through an institutional placing to finance the purchase to “take full control of this super prime destination”.
The purchase also allows Hammerson to upgrade its FY25 guidance it said on Thursday as it also announced strong half-year results with “demand for our space never stronger” and it enjoyed “another period of record leasing”.
Results for the first half of 2025 showed across-the-board gains including increases in like-for-like gross rental income of 5% and like-for-like net rental income, up 4%.
During the period, the group’s total gross rental income was up by 11%, while net rental income increased by 10%. Hammerson’s portfolio valuation was also up, by 11% to £3 billion.
It said earnings guidance for FY25 was raised to around £102 million from around £95 million, and remains “on track to achieve its medium term financial framework”.
Gagné added that the H1 performance was driven by its investments in recent years in repositioning and placemaking, and data and analytics “which allows us to better understand and anticipate the evolving behavioural trends of consumers and occupiers”.
She added: “The consumer spend where we have focused our portfolio is resilient and growing for the right product in the best destinations, as brands are shifting towards fewer, higher-performing spaces.”
“Africa is not here to be discovered; Africa is here to be recognised.” With that assertion, Lulu Shabell, founder and CEO of the Lulubell Group, launches Álké Ball, an institution dedicated to securing global recognition for African fashion.
The institution’s work is underpinned by the Álké Fund – The Álké Ball
Grounded in art, heritage, knowledge, and enterprise, the Álké project seeks to catalyse a decisive shift: from sporadic visibility to an intentional, structured, unified and globally influential African authority. Its name is drawn from the word “Álkébulan,” regarded by some as among the oldest known names for the African continent.
“Before the modern vocabulary of luxury, there was Africa”
Drawing on her experience across more than 20 African countries, Lulu Shabell has supported designers, helped to expand the African fashion industry, and forged international connections through the Lulubell Group. Under her leadership at Álké Ball, a pan-African collective of designers, archivists, curators, researchers, and creative strategists has taken shape.
Together, they advance a shared thesis: that long before silk, cotton, and the modern vocabulary of luxury, there was Africa- a place where pattern was a language, textiles a code, and clothing a philosophy. In Africa, fashion has never been purely decorative; it was, and remains, a testament to lineage, mastery, and thought.
Taking action through a fund
At the heart of Álké’s mission is the Álké Fund, a permanent, continent-wide financing structure designed to ensure the long-term stability, independence, and global competitiveness of Africa’s creative industries. The Álké Fund will invest strategically in four interconnected pillars that support Africa’s creative sovereignty.
Álké Ball is the brainchild of entrepreneur Lulu Shabell – Lulubell Group
To advance education and skills, Álké will create pathways for the next generation of creators, artisans, and entrepreneurs, ensuring that intergenerational knowledge is actively passed on rather than lost (which is also the mission of 54 Faces, an association co-led by Judy Sanderson). The institution will also focus on manufacturing and production capacity, strengthening local value chains, and accelerating innovation across both artisanal and industrial systems.
A first edition in Cape Town
Álké Ball will mobilise around archives, the preservation of craft expertise, and research: safeguarding African textile histories, indigenous knowledge systems, and craft techniques through documentation, conservation, and active use. Finally, the collective will work to develop African brands by promoting sustainable commercial growth, operational stability, and long-term international expansion.
According to Lulu Shabell and the pan-African collective, the fund is not merely a financial instrument. It is also a concrete response to decades of underinvestment in Africa’s creative and cultural industries. Its inaugural edition will take place in Cape Town, with subsequent editions rotating among Africa’s cultural capitals.
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Lululemon was making headlines last week as its CEO exited but it had more upbeat news on Sunday as Lewis Hamilton made a personal appearance at the Regent Street, London, flagship store to to celebrate the launch of The Lewis Hamilton Edit, a curated 36-piece capsule personally selected by the champion racing driver.
André Maestrini and Lewis Hamilton – Lululemon
Importantly too, joining Hamilton in-store for photos was Lululemon’s new interim CEO, André Maestrini, marking his first public appearance in the role and highlighting the company’s focus on innovation, as well as stressing that there’s no vacuum at the top of the company’s leadership tree.
Hamilton became a Lululemon ambassador earlier this year and made an unannounced appearance in the store.
Available exclusively at the Regent Street location and on the brand’s UK webstore, the Edit brings together Hamilton’s favourite menswear and womenswear pieces from the brand’s Winter 2025 collection — “each style chosen for its high performance and elevated aesthetic, all filtered through the distinctive personal style he’s renowned for”.
The appearance may have been unannounced but there were plenty of fans gathered outside to see him in a full look from the Edit as he greeted the crowd, signed autographs, and posed for photos.
The first 100 people in the queue also received Lululemon products signed by Hamilton and he was also helping staff style looks and wrap gifts behind the tills.
Such appearances are hugely important for stores at this time of year as they compete to attract customers.
In a report of around 40 pages, the Dutch NGO Changing Markets casts doubt on polyester’s virtuous image, suggesting it releases far more microplastics than virgin polyester, according to research conducted at Çukurova University in Turkey.
Shutterstock
The university carried out tests on 51 “representative” garments from the product ranges of the brands Adidas, H&M, Nike, Shein, and Zara. The document, reviewed by FashionNetwork, indicates that recycled polyester sheds 54.8% more microplastic particles. The NGO believes this figure may even be an underestimate.
Changing Markets argues that the polyester presented as recycled by Shein is not actually recycled. This appears to be borne out by the platform itself, as the word “recycled” has disappeared from the product pages of certain items. According to the study, this “polyester fraud” is commonplace in the textile industry, with the study noting evidence of similar practices at H&M and Nike.
When Shein products are excluded from the analysis, the volume of microfibres released is 72% higher than for virgin polyester. The document also notes that microfibres from recycled polyester are 20% smaller than those released by virgin polyester.
Use of bottles under scrutiny
Why the disparity? The study offers little explanation, simply noting that recycling processes, whether chemical or mechanical, weaken polymer chains, creating shorter, more imperfect molecular structures.
However, this is not the study’s main focus, which primarily targets the conversion of plastic bottles into polyester, with 98% of recycled polyester not coming from recycled textiles and clothing. Changing Markets likens this to a form of greenwashing, and argues that the practice misleads consumers about the supposed environmental virtue of these products.
The study was unable to compare shedding due to the lack of virgin polyester at Zara and of uniform materials at Adidas. The material marketed by Shein is suspected of not actually being recycled. – Changing Markets
“Recycled polyester has become a practical solution for the industry, allowing brands to claim progress in reducing their reliance on virgin plastic while increasing overall synthetic fibre production,” reads the study. “Textile Exchange data makes this clear: although recycled polyester volumes increased last year, its overall market share fell from 12.5% to 12%, as virgin polyester grew even faster.”
Disputed findings
Nike proved the most polluting (for both virgin and recycled fabrics), ahead of Adidas: Nike’s recycled polyester shed over 30,000 fibres per gram of garment on average, nearly four times more than H&M and seven times more than Zara.
Adidas maintains that it sees “an environmental benefit in using recycled polyester,” a spokesperson told AFP, because “no crude oil needs to be processed and plastic waste is reused.”
“Compared with virgin polyester, it generates far fewer greenhouse gas emissions,” continued the German sportswear company, citing other scientific studies, such as that by the NGO Microfibre Consortium, which find no significant differences between recycled and virgin fibres when it comes to microfibre shedding.
“The H&M Group shares concerns about the environmental impact of fibre fragments,” the Swedish brand told AFP, pointing out that polyester accounts for only 22% of its production and saying it is working in particular on “research into production processes that reduce the release of particles.”
For now, Nike, Shein, and Zara have not responded to AFP’s requests regarding the study’s findings.
FashionNetwork.com with AFP
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