South Korean fashion brand 8Seconds, part of Samsung’s fashion arm, has engaged a property agent to review its options for a UK opening.Launched in 2012 with the slogan “Cheaper than Zara, trendier than Uniqlo”, the brand targets twenty-something shoppers with fashion and lifestyle ranges. On its website, the chain says:...
Shoppers’ use of cash has fallen to its lowest level on record, a report by the British Retail Consortium (BRC) has said in its latest retail payment survey. The data reveals that a growing proportion of smaller payments previously made in cash are now being made in other ways.The 14%...
Shoe retailer Office has urged its customers to change their passwords to its website after hackers stole personal details of some users, including home addresses and dates of births.The compromised data did not include financial information, but names and phone numbers were compromised.“I can confirm that the Office website has...
Australian fashion flash sale site MySale is to list on the London stock exchange, marking a return to the stock market for backer Sir Philip Green.The Topshop boss owns a 25% stake in the site, which plans to raise £40 million from the flotation. It will be Sir Philip’s first...
A study of retail brands has found that London is the world’s leading city for retail brands, with just over 55% of all international retailers having a presence in the capital.This puts London ahead of Dubai, in second place and New York and Moscow, which shared third place according to...
B&Q owner Kingfisher has announced a special dividend as its profits rose in the first quarter. In the 13 weeks to May 3rd, group sales were up 6.1% on a reported basis, with an 18.8% rise in retail profits boosted by favourable weather conditions compared to the previous year and...
Tesco has reached a deal in its joint venture with China Resources Enterprise (CRE) which will create the largest food retailer in the country.Tesco is expected to invest £85 million in the venture, in which it will have a 20% stake.The new company will strengthen Tesco’s presence in China’s grocery...
Apple has confirmed that it is buying headphone and music streaming firm Beats Electronics for $3 billion, thought to be Apple’s largest ever acquisition.As part of the deal, Beats’ founders Jimmy Iovine and Dr Dre will join the technology firm.Beats was founded in 2008 and offers a music streaming service...
Retail sales in Japan fell in April following its first rise in sales tax in 17 years. The 4.4% fall followed an 11% rise in sales in March as customers raced to make purchases ahead of the tax increase.Japan raised the sales tax from 5% to 8% on April 1st...
A sample poll conducted amongst members of the Association of Graduate Recruiters (AGR) has revealed that many employers still have unfilled vacancies for 2014, with nearly nine out of 10 (87%) of employers reporting unfilled vacancies.Members reported vacancies nationwide, and urged graduates to think about opportunities outside of London and...
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