Boohoo Group has announced a new CEO from rival Primark with current co-CEO Carol Kane set to stand down as part of a board re-alignment. But Kane will remain heavily involved with company and will take on a new role.
Speculation that Shandong Ruyi was in talks to buy the UK’s Arcadia Group may have been denied by both parties but it has certainly focused attention on the Chinese firm’s global ambitions in the fashion sector.
Better late than never. Some time after Topshop and Topman were expected to make their first foray into China, and over a year after signing a deal to enter the country, the UK fashion chains will set foot in Shanghai.