Tech

Frasers Group delivered another year of record growth for the 52 weeks ending 27 April 2025, despite a decline in revenue. The owner of Frasers, Flannels and Sports Direct reported a APBT of £560.2 million, up 2.8%, as it continued to build “a broader platform for multi-year, sustainable profitable growth”. As part of this, Frasers Group delivered £127.2 million of underlying cost-savings and synergy benefits, largely from recent investments in warehouse automation and acquisitions. However, revenue declined 7.4% to £4.7 billion, primarily due to planned reductions in segments such as Game UK and Studio Retail. This was partially offset by “strong” sales growth at Sports Direct and the continued success of its Elevation Strategy, alongside strengthened relationships with key brands such as Nike and Hugo Boss. UK Sports accounted for 54.7% of the company’s total revenue and marked a “breakthrough” year for Sports Direct’s international expansion. The British retailer expanded its global footprint through new and extended strategic partnerships and acquisitions, laying the groundwork for long-term global growth. Its omnichannel shopping experience was also improved during the year with the launch of a new Sports Direct app and the introduction of the Sports Direct Membership programme. Elsewhere, the luxury market remained challenging, though Frasers Group noted some “early signs of improvement”. Premium Lifestyle contributed 21.3% of total revenue; however, revenue declined 14.8% as the group continued to optimise its store portfolio. This included a strategic reduction in the number of stores across House of Fraser and recently acquired businesses from JD Sports, decreasing from 44 to 29 stores by 27 April 2025. It also expanded its presence in UK luxury and premium retail, opening 12 new stores across Flannels, Frasers and Sports Direct. The group made further investments in UK property to “support its growing occupational needs”, with key acquisitions including Doncaster’s Frenchgate Shopping Centre, Exeter’s Princesshay, Maidstone’s Fremlin Walk, and several Affinity outlet locations. Looking ahead for FY26, Frasers said it is “mindful” of ongoing macroeconomic headwinds and continues to anticipate at least £50 million in incremental costs stemming from last year’s Budget. However, the group remains committed to long-term investment in its Elevation Strategy and international expansion, and currently expects APBT to be in the range of £550 million to £600 million. Michael Murray, Chief Executive at Frasers Group, said: “I’m pleased with our performance this year, despite the headwinds caused by last year’s Budget. We remain fully committed to our Elevation Strategy, which drove another record year of profitable growth and further delivery of our key priorities. “We continued our strategy of confidently investing for the future, unlocking multiple opportunities for sustainable medium- to long-term growth. “For FY26 so far, we are seeing positive momentum across the group, including strong performance at Sports Direct – and we have big ambitions to continue to raise the bar. “Looking further forward, we remain confident in our strategy and our plans to deliver multi-year, sustainable profitable growth.”

After a decade-long hiatus, Manchester Fashion Week is making its grand return this September, marking a transformative moment for the UK’s fashion calendar and laying the groundwork for a new era of sustainable, tech-driven design. Running from 9 – 11 September 2025, the reimagined Manchester Fashion Week aims to future-proof the British fashion industry by placing sustainability, innovation and community collaboration at its core. Gemma Gratton, Executive Producer of Manchester Fashion Week, said: “Manchester has always led – in music, in manufacturing, in movements. And now, it’s time to lead again by future-proofing fashion from the ground up. “Manchester Fashion Week is not just a celebration of style, but a cultural catalyst for people, purpose, and progress.” This year’s edition will spotlight three key themes across its three days: Heritage & Future-Proof, Health & Wellness and Tech & Innovation. The event is set to unfold across various locations, with its main hub at Campfield in the St John’s area – a newly refurbished cultural space. Manchester Fashion Week will bring together a range of emerging designers and heritage brands, offering a platform for what organisers describe as “radical collaboration and honest dialogue”. It will be led by key industry changemakers, including Carry Somers, Founder of the global movement Fashion Revolution, and Safia Minney MBE, founder of People Tree and a long-standing pioneer of fair-trade fashion. The initiative is also backed by media partner Eco-Age, the sustainability-focused media platform and consultancy. John Higginson, CEO, of Eco Age, added: “Manchester is Britain’s fashion mecca. Where else do you go where everyone walks around as if they are always on a catwalk? But there is a fight between crappy flimsy fast fashion and the beautiful things you want to keep forever. Manchester Fashion Week is all about future fashion – forever fashion.”

Luxury lingerie and bodywear Wolford has strengthened its leadership team and financial position as part of its ongoing transformation strategy, announcing the appointment of Marco Pozzo as Deputy Chief Executive Officer and the successful completion of a €25 million (£21.63 million) capital raise. Pozzo joined the Management Board as Deputy CEO on 7 July 2025. With an extensive background in leading premium and design-driven businesses, including Ermenegildo Zegna, Alessi, FontanaArte and Driade, his appointment marks a step in the brand’s evolution as it pushes forward its transformation. Over his career, Pozzo has held key leadership roles where he led major retail expansions, digital transformations and omnichannel strategies. Wolford said Pozzo’s “global commercial perspective and proven leadership will be instrumental in advancing Wolford’s transformation journey.” Marco Pozzo   The company added: “His appointment brings complementary expertise to the existing Board, strengthening the leadership team’s ability to execute the company’s strategic roadmap, focus on the brand’s core business and drive sustainable growth.” Alongside the leadership announcement, Wolford confirmed it completed a capital increase of €25 million in June 2025. Carried out via a rights issue, the transaction resulted in the issuance of 5,214,781 new shares at a subscription price of €4.80 per share, raising the company’s share capital to €71 million. The capital raise received strong support from investors, led by Lanvin Group. With both an expanded executive leadership team and bolstered financial foundations, the brand is now poised to “enter its next phase of growth”. This follows Regis Rimbert’s appointment to the role of CEO at Wolford in June 2024. Rimbert succeeded Silvia Azzali, who chose to leave the company for “personal reasons”. He boasts over 20 years of leadership experience across the fashion and luxury sectors, previously spearheading transformative initiatives in retail, online and international operations.

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NEXT has officially opened the doors to a brand-new store at Newcastle’s Eldon Square, bringing with it an expanded product offering and elevated customer experience, as part of the retailer’s latest concept store design. The 33,694 sq ft space spans all key categories, including Womenswear, Menswear, Kidswear and Homeware. Enhancements include a new suit and shoe department in Menswear, now extended by over 200 sq ft and a Home section that has doubled in size. Jayne Punshon, Store Manager, said: “We are so excited to open this new and exciting store in Newcastle, bigger, brighter, bolder than ever! We look forward to welcoming our customers and are committed to providing them with a great experience!” The store also sees the arrival of Newcastle’s first Bath & Body Works, housed within a 1,458 sq ft retail space adjacent to NEXT’s offer. Jo Part-Doig, Brand Manager UK & Ireland at Bath & Body Works, added: “We are thrilled to announce the grand opening of Bath and Body Works at Eldon Square. “Our team has been phenomenal, and we can’t wait to welcome everyone to our new location. Join us as we embark on this exciting journey together!” Helen Cowie, Centre Director at Eldon Square, added: “We’re delighted to welcome NEXT’s latest concept store to Eldon Square – a stunning addition that brings more choice, enviable style, and a truly elevated experience for our visitors. “With a beautifully designed space and exciting features like Newcastle’s first Bath & Body Works store, this opening reinforces Eldon Square’s position as the heart of city centre shopping. It’s an exciting milestone, and we look forward to seeing our shoppers enjoy everything this new flagship store has to offer.” To celebrate the opening, the first 150 customers were gifted a free goodie bag, and scratch cards offering in-store discounts will be distributed throughout the opening week and weekend. This follows the recent opening of NEXT’s flagship concept store at Lakeside Shopping Centre, which spans 83,000 sq ft and introduced several new features, including the first-ever FatFace concession within a NEXT store, a dedicated Costa Coffee and an expanded Bath & Body Works presence. Together, the two openings signal NEXT’s strategic push to redefine its physical retail experience with large-format, experience-led destinations that blend fashion, lifestyle, and wellness.

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Michelle Ngonmo’s talent incubator, founded in Italy in 2015, platforms and supports BIPOC fashion talent and creatives while building bridges between hubs in Cameroon, Rwanda and Ghana to fashion capitals like Milan, and soon, Paris. BoF sits down with Ngonmo to explore the association’s mission and impact.