The new owner of the swimwear brand will focus its efforts on international expansion with plans to take the label to Europe and Asia in the medium term. Under its new owners, the brand expects to grow 8% in 2019.
Geox, the techy Italian footwear giant, and Dragon, the Formula E team owned by media investor Jay Penske, have signed a strategic long-term agreement that will result in the race car changing its name.
A report has suggested Arcadia is looking to close around a third of its 500 leased UK stores, joining the wave of UK retailers trying to downsize their store estate as online shopping continues to soar.
The intimates and swimwear company announced on Thursday that it has concluded its acquisition of FOH Online Corp, exclusive licensee for the Frederick’s of Hollywood brand’s international e-commerce business.
Fashion brands need to put their foot down and take action to prevent “a race to the bottom” in terms of discounts that threaten whole fashion retail eco-system, Farfetch CEO José Neves told FashionNetwork.com.