Partech Growth Fund and Fidelity Growth Partners (investors of Notonthehighstreet.com) have given e-tailer Made.com a cash boost of $60 million to expand the site’s reach across the UK, Belgium, France, Germany, Italy and The Netherlands.Figures show that the furniture company reached an annual growth rate in revenues of over 100%...
Chinese state media has reported that five people have been arrested in Beijing over a sex tape that was filmed in one of Uniqlo’s stores.The tape went viral on Chinese social media as it showed the couple in the dressing room of the Beijing store. Not long after the tape...
It has been announced today that popular Swedish furniture company Ikea will pay its staff more than the National Living Wage from April 2016.The new compulsory living wage, announced by George Osborne, is £7.20 an hour and Ikea will be paying its 9,000 UK staff at least £7.85 an hour,...
Marks & Spencer has announced that John Dixon, executive director, general merchandise, has decided to leave the business to "pursue career opportunities outside of the company”, taking on the role of chief executive at an as-yet unnamed business. He will step down from the board with immediate effect and leave...
Sports Direct has recorded a 21% rise in profits and will give a bonus valued at around £37 million to permanent staff.Earlier this year the sports retailer was criticised for using zero-hours contracts, which do not guarantee employees work, but the company has now responded, labelling that criticism as "unfounded...
The Governor of the Bank of England, Mark Carney, has said that UK interest rates are likely to rise at the “turn of the year”.In a speech at Lincoln Cathedral, on the occasion of the 800th anniversary of the Magna Carta, Mr Carney said: “It would not seem unreasonable to...
Launching its flagship store in Regent Street this autumn, British fragrance company Jo Malone will be supplying exclusive services, products and consumer events.Regent Street is just one of many new stores to open as the company plan new boutiques in places such as Bluewater, St Pancras, Cheltenham and St Andrews,...
It has been announced that popular online gambling company 888 Holdings has bought rival gambling firm Bwin.party for £898 million.The takeover will commence at the beginning of 2016 and the plan is to provide cost savings of around $70 million (£45 million) a year by 2018.Joining the 888 board when...
Aga Rangemaster, the cast-iron cooker maker is reported to have agreed a sale with US firm Middleby Corporation for £129 million.Aga, which is based in Leamington Spa and has been producing stoves since 1930 will continue to manufacture the cookers in the UK.The firm, who also own Fired Earth tiles...
The Competition and Markets Authority (CMA) has said that supermarkets “could be in breach of consumer law” after conducting a three-month study that shows they are “misleading customers” with pricing promotions.The industry, via the BRC, has admitted that control over pricing promotions does need updating, and Which? has announced that...
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