Major British retail landlord Hammerson issued an update on Wednesday that showed reopenings in England, Ireland and France are well under way, but it has been struggling to collect rents from some retail tenants.
Each news story about TM Lewin seems to deliver worse news and the latest development is that the menswear retailer is closing all of its shops and becoming online-only. It means the loss of over 600 jobs.
Swedish online lender Klarna, one of Europe’s biggest fintech firm, is entering in Spain on Tuesday with its “buy now, pay later” service that allows shoppers to pay in interest-free installments at some retailers.
As previously announced, Kering's Gucci has executed an increasingly popular strategy among luxury fashion houses and reduced the number of its retail partners, notably cutting its wholesale network by 70% in Italy.
New LovetheSales.com analysis of e-shopper demand shows a hunger for luxury investment pieces as well as high street fashion for the looming day when consumers will be able to restart their social lives.
While online retail boomed during lockdown, it's interesting that e-sales are still soaring even though non-essential shops have reopened in much of the UK. But it seems some e-fashion activity has moved back to shops.
Belstaff has reopened its Glasgow store this week as Scottish non-essential shops have been allowed to open their doors again for the first time in months and it's using the moment to launch a by-appointment offer.
Swedish online second-hand shop Sellpy, which is majority-owned by fashion giant H&M, has launched in Germany in a first step outside its home market as it bets on shoppers trending towards more sustainable consumption.
As the new owners of TM Lewin continue to seek new deals for its retail stores, a report has suggested the company could consider a pre-pack administration in order to allow it to close as many of the shops as possible.