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Chancellor pledges £5bn to save High Street


By Alexandra Leonards

Ahead of the upcoming 2021 budget, Rishi Sunak has pledged £5 billion to help the High Street and hospitality recover from the pandemic. The chancellor said that the government would dish out grants worth up to £18,000 per business.


Boohoo could face US import ban over forced labour allegations

Online fashion retailer Boohoo could potentially face a US import ban over allegations that the company uses slave labour in its supply chain. A ban on imports would be a significant blow to the brand, with £263 million of its sales coming from the states in 2020.

Reliance to join Google and Facebook in India digital payments bid

Reliance to join Google and Facebook in India digital payments bid better serve the Indian e-commerce market, according to reports originally by The Economic Times. Reliance is a conglomerate with interests in telecoms, energy, natural resources, and retail and is currently India’s largest company by market capitalisation.

Zara-owner begins closure of 1,200 worldwide stores

Inditex, which owns Zara, has started the rollout of its plan to close up to 1,200 stores across the world, despite an agreement with Spanish unions to protect jobs. According to a report by Reuters, closures in Spain are the first of up to 700 expected in Europe, with a further 100 planned closures in the Americas, and 400 elsewhere in the world.

Ocado opens first mini customer fulfilment centre

Online grocery retailer Ocado has announced that it has opened its first mini customer fulfilment centre (CFC) in Bristol. The new site has the capacity for over 30,000 orders per week and will create 815 when it is operating at peak capacity.
In the Style announces AIM listing plans

Online fast fashion retailer In The Style has filed notice of its intention to float on the junior Aim market of the London Stock Exchange (LSE). The listing is expected around 17 March, and will see Liberum Capital Limited act as nominated adviser, sole broker and sole bookrunner.

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Klarna funding boost pushes value to $31bn

Klarna has secured $1 billion equity funding, valuing the Swedish payments and banking service at $31 billion. The company said it would use the money to accelerate international expansion and further capture global retail growth.

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Vestiaire Collective eyes unicorn status with €178m round

Vestiaire Collective, a digital platform for buying and selling second-hand fashion, has raised a new €178 million financing round which brings the company closer to a $1 billion valuation. The round was led by global French luxury group Kering and US investment firm Tiger Global Management.

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Fast fashion falls out of favour

The ethics of retailer supply chains has been called into question recently, with brands now rushing to implement technology that gives better visibility into how products are made, sourced and shipped. The scandal that brought the issue into focus most recently was a report in July on Boohoo’s UK supply chain that had a significant impact on the company’s share price and reputation.

The top retail trends of 2020

As the year of disruption draws to a close, Alexandra Leonards identifies the top retail trends of the past 12 months and explores what they mean for the industry next year.

Should ailing retailers dump stores post-COVID?

With High Street clothing and footwear retailers among the hardest hit by the Coronavirus lockdown, some are suggesting that those going under would be better to re-emerge as online-only brands.

Are shoppers ready for biometric payments?

The recent announcement that Amazon has started using palm scanning payment technology shone a light on the rise of biometric technology – and whether or not consumers are ready to let their bodies be part of transactions.

Uyghur forced labour: do government measures go far enough?

Under the new guidelines, retailers still aren’t legally obliged to cut ties with modern slavery. Alexandra Leonards reveals why the latest measures aren’t likely to change things on the ground, and explores how retailers must look beyond the legal minimum to rid their supply chains of forced labour.

Delivery sector reacts to lockdown demand

One fairly predictable consequence of the Coronavirus lockdown has been a marked increase in the amount of online shopping – but how is the delivery and logistics sector dealing with the spike in demand this has caused?

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Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.

Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.

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