Today’s news in brief-16/9/24
The New West End Company (NWEC) has reported that the removal of tax-free shopping cost West End retailers £220m in unrealised sales during the first half of 2024. Despite a 3% increase in international tourists visiting London, their spending decreased by 12%. NWEC urges the government to reinstate the tax break to stimulate growth.
Battersea Power Station celebrated its busiest summer yet with a 17% rise in footfall year-on-year, totalling over 22 million visitors since its 2022 opening. Fashion brands saw a notable 21% increase in sales. The development continues to expand, attracting diverse brands and maintaining growth across residential, retail, and office sectors.
JD Sports Fashion has appointed Prama Bhatt, a seasoned retail executive with over 20 years of experience in digital and e-commerce, to its board as Non-Executive Director. Bhatt’s expertise will enhance JD’s strategic insights, particularly in expanding its omnichannel presence and navigating the US retail landscape.
Parcel carrier Yodel plans to hire over 3,000 seasonal workers ahead of the festive season, anticipating a significant increase in parcel volumes. Following financial stabilisation earlier this year, Yodel aims to strengthen its workforce to meet growing demand in the booming e-commerce market.
The British Fashion Council (BFC) has partnered with JD.com Inc. to support British designers entering the Chinese market through JD Fashion. With China’s growing luxury market, the partnership aims to provide expertise and protect British designers’ intellectual property, fostering long-term collaboration in the global fashion industry.
