Major Brands Invest In Technology, Open New Stores And Buy Out Rivals
The current state of the UK and worldwide economy isn’t stopping both major brands and smaller start-ups from exploring new opportunities. In fact, it could be seen as a key driver for those brands looking to find solutions to problems or opportunities to grow when others do not. We’ve put together a snapshot of brands across the UK and the wider world who are undertaking some exciting new opportunities in the world of fashion and retail.
If you work in e-commerce fashion photography, in London or anywhere else then this is for you.
John Lewis agrees £100m deal with Google Cloud
We believe technology offers fashion and retail brands fantastic opportunities to not only expand their business but also improve the service provided to customers. John Lewis is the latest to venture into a technological partnership, thanks to their £100 million agreement with Google Cloud.
This service aims to provide the customers of John Lewis with a more personalised and tailored experience. It will involve work across both in-store and digital platforms and is part of their digital transformation. The major UK brand explained how the goal of this investment is to innovate to benefit customers and help build the infrastructure needed for the long-term future of the business.
They are also looking to use this partnership to help develop a new loyalty programme that will come into place next year. As an e-commerce fashion photography service, anything that promotes growth in fashion and retail is a potential opportunity.
Tapestry buys rival to create American Giant
Europe has seen major fashion houses combine to create true giants of the fashion and retail world. The major group is LVMH. It now looks like brands in the US want to compete at this level, with Tapestry buying out a rival for £6.6 billion. Tapestry, who own brands including Coach has agreed to a deal to buy Capri Holdings who own leading luxury brands, Versace and Michael Kors.
Leaders from both businesses stated their belief that the deal would provide the single entity with more resources and greater capabilities to expand across the globe. With recent reports from Jimmy Choo and Versace claiming record revenues, it is clear to see why there is such belief in this opportunity.
New flagship stores for Frasers Group in Meadowhall Shopping Centre
As part of our work in e-commerce fashion photography, we’re always keeping an eye on major UK brands and the Frasers Group sits near the top of that list for brands who remain active in the market. With a strategy of investing in brands and opening new stores, we bring the latest from the brand and their efforts in Sheffield.
They have taken on the lease at the former Debenhams site in the Meadowhall Shopping Centre, providing them with two floors at 60,000 sq ft each for their Frasers and Sports Direct brands. Moving away from Sheffield, they are also planning to open new sites in the North East in late 2024.
