The number of fashion-focused shops on premier shopping thoroughfare Oxford Street looks like falling even further with news that IKEA is likely to take over the former Topshop flagship, in a key Oxford Circus position.
In a month that's shaping up to be huge as far as luxury deals are concerned, the latest news is that LVMH is boosting its stake in Off-White. Virgil Abloh's streetwear label will now be 60% owned by the French giant.
A French court on Tuesday ordered Ikea to pay a 1 million euro fine in a spy case involving its employees, as the world's biggest furniture retailer was found guilty of storing employee data it obtained improperly.
A venture part-owned by Finnish forestry group Stora Enso, H&M and IKEA said on Tuesday it was set to build a demonstration plant in Sweden for a new, more sustainable wood-based textile fibre after years of research.
IKEA's Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said.