Hobbycraft’s sale to retail investor Modella Capital for an undisclosed sum is set to drive growth. Modella Capital MD Joseph Price said it will invest in Hobbycraft’s physical footprint and enhance the returns generated from its existing sales channels, including online.
M&S plans to trial a clothing-only store, as initially reported by The Telegraph. Located at Battersea Power Station, the store is intended to attract younger shoppers as the retailer seeks to maximise on increasing sales among that demographic.
Ikea’s trial of a peer-to-peer marketplace for second-hand Ikea furniture not only provides the retailer with opportunity to make revenue from the resale of its own products but also aligns with its sustainability goals. Ikea Preowned is being piloted in Madrid and Oslo but could be rolled out globally.
Asos continues to foster innovation and has been piloting the use of Nibble AI on its sample sale website – initially on River Island products – allowing customers to haggle on prices. Asos recently has entered a three-year agreement with Microsoft to help staff use AI to improve their efficiency.
Pets at Home’s new-look store in Brentford is part of its plans to open four concept stores this year. Expanded from 9,000 sq ft to 14,000 sq ft, the store includes a ‘Nutrition Hub’; consultation areas and interactive screens.
Waitrose unveils plans to open up to 100 convenience stores over the next five years as it launches revamped Finchley Road store in London. The grocer is planning £1bn of investment in new and existing shops over the next three years. The new store is trialling a series of new initiatives including new product offerings and service counters.
Estée Lauder Companies is on the hunt for a new chief executive as Fabrizio Freda announces his intention to retire in mid-2025. The troubled beauty retailer is currently undergoing a Profit Recovery Plan amid falling sales.
Topps Tiles completes the acquisition of the CTD Tiles brands, as well as 30 of its stores, selected stock and all its intellectual property out of administration for £9m. The move provides “opportunity to make a meaningful entry into the housebuilder segment”.
Amazon set to launch drone delivery in the UK later this year. The US retail giant will form part of a group of organisations approved by regulator the Civil Aviation Authority (CAA) to trial beyond visual line of sight drone flights.
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