The Sunday News Roundup from The Retail Bulletin
Supermarket giant Tesco pinpoints clothing as key target for sales, Flourishing grey pound has sparked a City scramble to buy garden centres, Brasserie Bar toasts a six million pound expansion boost from Barclays, Sainsburys CEO Justin King launches Tesco attack, Karen Millen faces battle with her own brand, Is H&M the new home of ethical fashion?
The Mail on Sunday
Tesco plans to make sales of clothing a central pillar of its hyper-market fightback as part of a major strategic overhaul to be announced later this month by chief executive Phil Clarke. The supermarket giant has called on US clothing brand Cherokee to help rebuild its clothing ranges with the creation of a dedicated team at Tesco’s head office in Cheshunt, Hertfordshire. Tesco said the deal ‘confirms the continuation of our relationship’ with Cherokee How flourishing grey pound has sparked a City scramble to buy garden centres With the economy suffering a prolonged drought, private equity firms are buying garden centres up and down the country as City financiers look for a refuge from all the uncertainty and tap into the British love of lawns and plants.
Brasserie Bar toasts £6 million expansion boost from Barclays
Brasserie Bar Co, the group behind the Raymond Blanc-founded Brasserie Blanc and White Brasserie Company, has secured a new £6 million facility from Barclays to support its expansion and development plans.This comes after Brasserie Bar Co’s recent acquisition of eight former Chez Gerard sites in London, including the Opera Terrace restaurant at Covent Garden.The first Brasserie Blanc opened in 2008 and the company has 11 sites nationwide with plans to expand to 19 by the end of the year and a total of 40 outlets by 2016.
Sainsbury’s CEO Justin King launches Tesco attack
Tesco was facing fresh scrutiny last night after Justin King, the chief executive of Sainsbury’s, accused Britain’s biggest retailer of failing to deliver for its customers and senior sources within Tesco admitted that the retailer was “too cold and industrial”. With Phil Clarke, Tesco’s chief executive, just over a week away from announcing the results of a major strategic review of the retailer’s UK business, Mr King’s criticism comes at a difficult time. While Tesco announced a profit warning after its Big Price Drop campaign failed with customers during the key Christmas trading period, Sainsbury’s reported a 4.6pc rise in fourth quarter sales.v They have not executed well for customers,” Mr King said in an interview with The Sunday Telegraph.
Karen Millen faces battle with her own brand
The knives are out as the designer attempts to return to the high street, in the face of stern opposition from the chain that still bears her name. The battle for the Karen Millen name is hotting up. Millen the woman says she is embarrassed by the brand. But the chain she relinquished control of in 2004 has threatened legal action if she returns to business, as planned, under the brand name Karen or KM. "I never wear the clothes," Millen says. "I think the brand has somewhat stood still and the overall style is in danger of looking a little staid, which is reflected in their performance. Although there are one or two pieces that are strong, they become overshadowed by the majority of the collection, which I feel is too heavily branded and overpowering.
Is H&M the new home of ethical fashion?
The world's second largest clothing retailer is trying to remake itself as a greener option. Lucy Siegle reports from Stockholm. The world's second largest clothing retailer is trying to remake itself as a greener option. Lucy Siegle reports from Stockholm. H&M is not just a big player in "fast fashion", it's a giant. Estimates (fast fashion behemoths do not give out many production figures as the sector is intensely competitive) suggest it sells more than 550 million garments every year. It recently announced net quarterly profits of $412m. It is second only to Inditex, owner of Zara, as the world's largest clothing retailer. The great fast fashion war pits Sweden's richest man, Stefan Persson, chair of H&M, against Spain's richest man, Amancio Ortega, co-founder of Zara.
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