British supermarket chain Asda has expanded its partnership with fashion retailer New Look. Eight more New Look concession stores have opened across the UK following a successful trial launched in September at two Asda stores, Drapers reports. The new concessions are located in Lower Earley in Reading, Gravesend in Kent, Bedminster in Bristol,...
Nov. 24, 2021
New Look is opening a flagship store in Liverpool. Relocating from its temporary location on Upper South John Street to 19 South John Street, the brand is staying in the Liverpool One shopping centre. The 20,000 square foot retail space is a renewal of the commitment that the brand has to Liverpool One, having first opened a store at the...
Oct. 18, 2021
The UK Fashion and Textile Association (UKFT) is working with technology companies IBM, Tech Data, and the Future Fashion Factory to design, prototype and pilot a new technology platform to help the fashion and textile industry drive sustainability and profitability through increased transparency within the supply chain. The Sustainable Supply...
Aug. 4, 2021
New Look has reported a steep drop in full-year revenue after the high street retailer was hit hard by store closures during the pandemic, but its sales have rebounded strongly in the first quarter of the current financial year. Revenue for the year to March 27 dropped 40 percent to 542.2 million pounds, compared to 912.8 million pounds a year...
Aug. 3, 2021
New Look has won its court battle against landlords who were challenging the British fashion retailer’s company voluntary arrangement (CVA). In September 2020, New Look received the green light from creditors to go ahead with its second CVA in less than two years. Under the terms of the restructuring, the retailer switched to turnover-based...
May 11, 2021
New Look has announced the appointment of Ed Alford to the newly created role of chief technology officer. In his new position, Alford will be tasked with driving the British fashion retailer’s omnichannel strategy, and will be responsible for the company’s technology investment, engineering and IT functions. New Look said the appointment...
Apr. 12, 2021
New Look is reportedly facing off against four landlords in a High Court battle over the British fashion retailer’s restructuring plan. The landlords, which include British Land and Land Securities, argue New Look should pay a “bare minimum market rent” on its stores as part of its company voluntary arrangement (CVA) which received approval from...
Mar. 17, 2021
British fashion retailer New Look has announced the completion of its major recapitalisation launched earlier this year when its trading was hit by the Covid-19 pandemic. The company said the recapitalisation “significantly reduces long-term debt and provides financial strength and flexibility to deliver a sustainable trading platform for the...
Nov. 10, 2020
The CVA proposal launched by New Look this week which aims to switch the majority of its store estate over to turnaround-based rent does not meet best practices standards, The British Property Federation (BPF) has warned. Under New Look’s CVA proposal, outlined on Wednesday, 402 of its stores would be switched to a turnover percentage of up to...
Aug. 27, 2020
British retailer New Look has launched its CVA proposal which looks to reset the majority of its UK stores to a turnover rent model. Under the proposed CVA, 402 leases would be set at a turnover percentage of up to 12 percent while the remaining 68 stores would move to nil rent. In return, landlords would get enhanced break clauses, which means...
Aug. 26, 2020
Klarna, a global payment and shopping service, has announced its first online festival, Klarnival, taking place from 20 August to 23 August. New Look, Morphe, Go Outdoors and Comet will host festival-themed masterclasses at the event. There will be 20 bands and solo artists playing live but virtually. Each musician will produce a 20 minute set...
Aug. 20, 2020
New Look has reportedly suspended payments to its suppliers “indefinitely” for existing stock as it struggles to cope with the financial impact of Covid-19. It has also cancelled orders for its SS20 collections and will not pay costs towards them, according to a letter the company’s CEO Nigel Oddy sent to suppliers, seen by the BBC. The letter...
Apr. 6, 2020
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