Just a week ago there were market rumours that Christos Angelides would be heading to M&S to turnaround its clothing and home division.
Instead, the former Next executive is heading to Reiss as chief executive in an effort to capitalise on its recent turnaround and power its growth.
It’s a demanding job.
The fashion market is tougher than ever and Reiss is only recently back on form. But, as industry insiders told us today, if there’s anyone up to the job, it’s Angelides.
Also today, Amazon revealed plans to bolster its British workforce with 5,000 new full-time roles, Mamas & Papas has hired a top publishing executive to lead its ecommerce push and London has come in first in a global league for luxury openings, proving that, in one sector at least, Brexit has been a boon.
Plus, we take a look at how Gillian Drakeford is building the Ikea of the future and look at how the Co-op’s turnaround has hit home among shoppers.
Quote of the day
“He brings significant retail experience which will be invaluable as Reiss grows into a truly global fashion brand.”
– Reiss founder and chairman David Reiss on the appointment of Christos Angelides as chairman
Today in numbers
5,000
The number of extra full-time jobs Amazon plans to create
29%
The percentage of consumers who say the Co-op’s ethical stance makes them more likely to shop there
Tuesday’s agenda
Asda publishes its fourth-quarter results tomorrow. US parent Walmart is investing heavily in a bid to transform its fortunes and the team will be hoping this has paid off.
Becky Waller-Davies, fashion reporter
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