This week's retail news 'you may have missed'......
At mdj2, we’re passionate about retail and always looking to share our news, views, and insights. With so much information out there, we wanted to share just a small selection of retail news headlines from last week that we found interesting…?
Kingfisher drives online growth with launch of marketplace for Castorama France.
Kingfisher has launched an online marketplace for its home improvement retailer Castorama France.
The move follows the introduction and rapid growth of the group’s marketplaces at B&Q in the UK, Brico Dép?t in Spain and Portugal, and its Ko?ta? joint venture in Turkey.
The marketplace offering will add over 500,000 new products from verified third-party merchants to the 70,000 products already available directly from Castorama on its ecommerce channels.
Marc Vicente, group digital director at Kingfisher, said: “The launch of Castorama France’s marketplace is a very exciting milestone in our ecommerce strategy. We know that choice is vital for customers in ecommerce, particularly in home improvement, and our marketplaces are enabling us to deliver a vastly expanded product offering, at pace.
“The launch is a great example of our Powered by Kingfisher strategy in action. With the support of the group’s marketplace technology and expertise, Castorama France has been able to build a compelling offer, tailored for the needs of its customers.”
After launching its first marketplace in March 2022 at B&Q, Kingfisher reported last autumn that marketplace sales represented 35% of B&Q’s total ecommerce sales in October 2023.
H&M opens new concept store on London’s King’s Road.
H&M has announced the opening of a major new concept store on Chelsea’s King’s Road.
Situated at 72 Kings Road, a grade II Listed building, the space has been designed by H&M’s in-house architecture team with inspiration taken from the area’s cultural heritage as a centre for fashion and art for more than fifty years.
Daniel Ervér, chief executive of H&M Group, said: “The newly-designed store celebrates what we stand for as a brand by promising our customers a world of curated products and elevated fashion experiences. London is a global hub of fashion and creativity, so we are proud to expand and evolve our presence here, and to show our commitment to our local customers.” –
The store offers a range of fashion-forward womenswear, including a handpicked selection of H&M’s most elevated designs and innovative pieces, alongside accessories and exclusive H&M beauty products. It will also host various launches and events.
Henrik Nordvall, country manager, H&M UK & Ireland, said: “We see this store as a culmination of H&M’s long relationship with London fashion, and the city’s heritage as a hub for experimentation and self-expression. Every aspect of the store is developed with the customer in mind – it’s about celebrating the joy of shopping, through great design, interactive store features and personal twists for every visitor.”
The shop has launched with a selection of H&M’s Spring fashion as well as the recent S/S24 Studio collection.
Retailers in Scotland rates bills to rise by ￡31 million from next week.
Shops in Scotland will see their annual business rates bills rise by ￡31 million from next week.?
It follows the decision in the Scottish Government’s Budget to increase the business rate for firms occupying 22,120 medium-sized and larger commercial premises by 6.7% in 2024-25. This is the biggest yearly increase in the business rate since 1999 and is almost double the current rate of inflation.?
In response to written parliamentary questions, Scottish Ministers have revealed that the 4,550 shops liable for the Intermediate and Higher Property Rates will see their rates bills rise by a total of ￡31.2 million a year. The 6.7% increase will take the business rate for these premises to a 25-year high. 2,410 of these stores – liable for the Higher Property Rate - will continue to pay a higher business rate than competitors and counterparts down south.
Pubs and restaurants will see their annual rates bills rise by ￡2 million from 1 April. Meanwhile, hotels, offices, and industrial properties will see increases of ￡7.8 million, ￡23.5 million, and ￡32.4 million respectively.
Separately, the Scottish Budget revealed that Ministers are considering levying a business rate public health surtax on larger grocery stores. If implemented this would likely come on top of the hike in the business rate.
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Frasers to relaunch Wiggle and Chain Reaction next week.
Frasers Group is preparing to relaunch Wiggle and Chain Reaction less than one month after it rescued the brands from administration.
The retail group, which owns Evans Cycles,?snapped up the brand rights?and intellectual property to Wiggle and Chain Reaction in a deal understood to be worth less than ￡10m.
The company will relaunch the etailer’s websites this week and is in the process of creating commercial partnerships to enhance and expand its in-house brand lines – Dhb, Nukeproof and Vitus Bikes – through development, sales, licensing, and international distribution opportunities, Bike Biz?reported.
The group’s managing director of cycling and wheeled goods Russell Merry said: “Wiggle and Chain Reaction are well-established names among riders in the UK and across Europe and the acquisition of both brands is consistent with our ambition to become the no.1 Sporting Goods retailer in Europe.
“It also brings with it the opportunity to work with respected partners through the highly admired, award-winning product lines that Wiggle and Chain Reaction had built.
“We are excited to explore partnerships with suppliers or distributors looking to expand their offering or an organisation looking to get a foothold in the market by leveraging some established names.”
Wiggle collapsed in October?and continued to trade during the administration process, with FRP Advisory handling the insolvency. Around 447 staff members are understood to have lost their jobs following the acquisition by Frasers.
Ryman owner Paphitis urges government to plug tax loopholes used by fast fashion giants.
Ryman owner Theo Paphitis is the latest British retailer to call on the government for a clampdown on a tax loophole used by fast fashion giants such as Temu and Shein.
The retail tycoon,?who also owns Robert Dyas and Boux Avenue, said there was a “big slug” of companies avoiding customs bills in the UK by shipping individual orders directly from countries like China.
“Worse than that, the companies benefiting from it are not British companies,” Paphitis told?The Times.?“The government is not plugging loopholes. It’s becoming absolutely clear that the emperor has no clothes on.”
Retailers such as Shein and Temu ship directly to western countries from China in smaller parcel sizes, instead of shipping stock in bulk to fulfilment centres in the UK and then distributing parcels.
Under the UK’s “de minimis” rule, shipments worth less than ￡135 are exempt from having to pay import duties.
A Temu spokesman told The Times that the company’s growth was not dependent on the de minimis policy: “The primary drivers behind our rapid expansion and market acceptance are the supply-chain efficiencies and operational proficiencies we’ve cultivated over the years.”
Shein also said its success came from “keeping prices affordable through our on-demand business model and flexible supply chain”, which it said, “takes out wastage of material and lowers our unsold inventory”.
Paphitis claimed the UK retail industry was “taken for granted” and that it needed more support from the government, including a reform of the current?business rates system.
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