Today’s news in brief-28/8/24

Authentic Brands Group has partnered with United Legwear and Apparel Co (ULAC) to manage Ted Baker’s e-commerce operations in the UK and Europe. ULAC will handle online sales starting this fall, aiming to enhance the brand’s digital presence alongside its physical retail strategy. This move follows the closure of Ted Baker’s remaining UK stores, marking a strategic shift towards online retail under new management.

Frasers Group has acquired a 14.65% stake in Accent Group Limited, a major player in Australia and New Zealand’s sports and lifestyle retail market. Accent, known for brands like Skechers and Vans, operates nearly 900 stores and websites, generating significant sales annually. This strategic investment aims to expand Frasers Group’s international footprint and leverage Accent’s robust platform for mutual growth opportunities.

Naked Wines has appointed Dominic Neary as its new CFO amid financial challenges, including a pre-tax loss of £16.3m for the fiscal year ending April 2024. Despite revenue of £290m, down 18% year-on-year, the company remains optimistic with guidance for FY25 indicating a focus on returning to profitability. The appointment of Neary, with his extensive consumer business experience, reflects a strategic move towards sustainable growth.

N Brown Group has successfully launched new trading websites for all three of its strategic brands, including JD Williams, as part of its digital transformation strategy. These mobile-first platforms aim to improve customer experience and site performance significantly, setting the stage for continued growth and innovation in online retail.

Moss, a leading menswear brand, has expanded its presence with a new store at Scotland’s Caledonia Park outlet village. The store showcases Moss’ tailored and casualwear collections, emphasising personalised service with in-store stylists and bespoke tailoring options. This expansion reflects Moss’ commitment to growth and enhancing its retail footprint in key markets.

MAC Cosmetics has appointed Emily Bromfield as its new Senior Vice President of Global Marketing. With a background in leading marketing strategies for beauty brands like Dr. Barbara Sturm and Charlotte Tilbury Ltd, Bromfield brings expertise in consumer-driven marketing and global brand expansion. Her appointment underscores MAC’s focus on strengthening its market presence and innovation in beauty.