Asos lumped with £15 million tariffs after Brexit deal
Asos is facing tariff costs of up to £15 million following the UK’s official departure from the European Union at the start of this year, according to a report published by the Evening Standard.
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Lessons learned in 2020 – Retail
As pandemic-related closures forced us all off the high streets and onto the internet and essentially wiped out the travel retail channel, everything we thought we knew about shopping for beauty changed. For although online shopping has always been there, pre-Covid, the majority of beauty buyers still shopped in store. Accordingly, e-commerce development had lagged in recent years, leaving brands and retailers playing catch up.
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UK retailer Debenhams goes into liquidation
UK retailer Debenhams is set to go into liquidation in the new year, a development that puts 12,000 jobs at risk and highlights the crisis on the UK high street, according to a report by The Financial Times.
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L Brands completes Victoria’s Secret reshuffle; names CEO
L Brands has announced several key leadership appointments at Victoria’s Secret. Martin Waters was named CEO of Victoria’s Secret Lingerie, replacing John Mehas.
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Fall of the malls? Macy’s 3Q 2020 sales down 21 percent
Macy’s has reported its results for the third quarter of the current financial year. The US department store saw sales tumble 21 percent yoy to US$3,990 million and reported a loss of US$91 million, a far cry from the US$2 million net income reported in the same period last year.
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Amazon launches ‘Climate Pledge Friendly’ badge in Europe
Amazon is debuting its Climate Pledge Friendly program in Europe, unveiling some 40,000 products across France, Germany, Italy, Spain and the UK with one or more of its sustainability certifications.
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Hudson’s Bay names first Vice President for Diversity and Inclusion
Hudson’s Bay has announced the landmark appointment of its first Diversity and Inclusion executive, effective November 23, according to a report published by WWD.
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Chanel purchases Bond Street store for £310 million
Chanel has reportedly purchased its Bond Street store for £310 million, in a show of confidence fo retail in London.
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Nordstrom launches nationwide recycling program for beauty products
US department store Nordstrom has partnered with TerraCycle to become the first major retailer to offer a nationwide recycling program for all brands of hard-to-recycle beauty packaging.
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Amazon evolves in premium market with launch of Luxury Stores
Amazon has evolved in the premium market with the launch of its new Luxury Stores concept, with Oscar de la Renta unveiling the first store featuring its Pre-Fall and Fall/Winter 2020 collection.
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