363
Fashion Jobs
UNDER ARMOUR
Associate, HR Administration
Permanent · SEOUL
ARKET
Visual Merchandising Manager
Permanent · BUSAN
PUIG
Marketing Manager
Permanent · SEOUL
JAEGER
[Jaeger Lecoultre] Marketing & Communication Director
Permanent · SEOUL
ESTÉE LAUDER COMPANIES
Corporate Account Executive For Travel Retail Korea, Estee Lauder Companies
Permanent ·
ESTÉE LAUDER - BRAND
Assistant Education Manager, Estee Lauder
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] Luxe Div. - Lancome E-Commerce Specialist
Permanent · SEOUL
COS
Instore Visual Merchandiser Manager_seoul/Gyeonggi
Permanent · SEOUL METROPOLITAN AREA
AESOP
Shinsegae Gwangju - Retail Consultant
Permanent · GWANGJU
COACH
Manager, Ecommerce
Permanent · SEOUL
ADIDAS
Manager, Business Planning & Analysis, Wholesales
Permanent · SEOUL
HENKEL
Adhesive Key Account Manager For Sports And Fashion Market
Permanent · BUSAN
HENKEL
Consumer Brands General Manager Assistant
Permanent ·
HYPEBEAST
Brand Partnership Manager
Permanent · SEOUL
ADIDAS
Manager, Retail Marketing - Originals, Brand Adidas
Permanent · SEOUL
ADIDAS
Manager, bu - Football Apparel, Brand Adidas
Permanent · SEOUL
SWAROVSKI
District Manager (Travel Retail)
Permanent · SEOUL
SHISEIDO
E-Key Account Manager, Cosmetics&Fragrance (Korean Only)
Permanent · SEOUL
ADIDAS
sr. Manager, Process Excellence & Analytics, Scm
Permanent · SEOUL
ADIDAS
Director, Performance Management/s&op
Permanent · SEOUL
LEVI'S
DTC Assistant Marketing Manager
Permanent ·
AMORE PACIFIC
[경력] '24년 Amorepacific_기술기획 직무 채용
Permanent ·
Published
Oct 12, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Reliance quits Debenhams rescue race, could firm lose Oxford Street flagship?

Published
Oct 12, 2020

The list of potential bidders for Debenhams has just got smaller with news that deep-pocketed Reliance Retail has dropped out of the race.


Photo: Sandra Halliday



Reliance, controlled by India’s richest man, had been viewed as a possible frontrunner to buy up the ailing British department stores giant after it was named as a possible (and surprise) bidder last month.

But The Times quoted a source close to the process saying Reliance is no longer involved, although “multiple parties” are still interested in the auction that’s heading towards its final stage.

Debenhams filed for a “light-touch” administration in April as the UK locked down, but it has found emerging from it to be tougher than some might have expected as retail footfall remains low.

It’s currently owned by a consortium of its lenders, including US hedge funds and its bankers. If the sale process fails and it’s forced to liquidate, Hilco Capital has been lined up to handle that process.

Yet two bright spots are that the firm has seen better-than-expected trading in recent months (even though trading remains tough), and its administration status means exiting unviable stores under a new owner would be a relatively straightforward process.

The company has already closed a number of stores, with successful rivals, such as Next, taking advantage of that to snap up the spaces.

But the company may not be able to hang on to some flagship locations that it might have wanted to retain. For instance, The Times said its Oxford Street flagship has been owned since 2016 by ex-H&M chairman and Sweden’s richest man Stefan Persson through his investment vehicle, Ramsbury. It “intends to exercise a break clause in the lease at the end of the year and has appointed property agents to find a temporary tenant while it works up plans to redevelop the site,” the newspaper reported.

While the site is hugely expensive and is suffering from low footfall at present, it remains a big draw during normal times and is important for the prestige beauty sales that are crucial to Debenhams.

If the retailer is forced to exit the store, the site’s retail space could then be downsized with suggestions that Frasers chief Mike Ashley might be interested in it. He might also seek to take over some other Debenhams sites for his various brands.

Debenhams’ more successful Magasin du Nord Danish subsidiary is being sold through a separate process.

Copyright © 2024 FashionNetwork.com All rights reserved.