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UK trade weathers tariff shocks with agility and new deals: BCC

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UK trade weathers tariff shocks with agility and new deals: BCC



The second quarter of 2025 saw UK goods exports to the US fall 13 per cent year-on-year (YoY), hit by record-high tariffs and the removal of the $800 de minimis threshold, which even paused postal deliveries.

Despite this, UK firms remain resilient, as highlighted at the British Chambers of Commerce (BCC)’s Global Annual Conference session on Global Trade, chaired by Chris Heyes of the UK-India Business Council.

Speakers including Robert Begbie – CEO NatWest Commercial and Institutional, Gregor Poynton – Labour MP for Livingston and member of the House of Commons Business and Trade Select Committee, Jun Du – Professor of Economics at Aston University, and William Bain – BCC Head of Trade Policy, stressed that UK companies are adapting through agility and diversification.

Goods exports remain focused on the EU, the UK’s largest market, while Indo-Pacific ties are expanding rapidly, BCC said in a release.

The India-UK CETA, due in about a year, will slash over 90 per cent of India’s import duties, adding £4.8 billion (~$5.61 billion) to the UK economy and directly boosting exports. Membership of the CPTPP also unlocks growth from £31 billion in current goods exports to the bloc, while trade missions reinforce China’s role as a vital market.

Though 2025 has been turbulent, UK exporters are urged to diversify markets, seize new trade deals, and leverage services strength to turn uncertainty into opportunity.

UK exports to the US fell 13 per cent in Q2 2025 amid record tariffs and loss of the de minimis threshold.
Yet, UK firms remain resilient.
The upcoming India-UK CETA and CPTPP membership promise fresh opportunities.
Experts at the BCC conference urged exporters to adopt market diversification and leverage services strengths to navigate global trade headwinds.

Fibre2Fashion News Desk (HU)



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Giorgio Armani: What does the future hold for the group?

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Giorgio Armani: What does the future hold for the group?


Translated by

Nazia BIBI KEENOO

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September 6, 2025

The legendary Italian couturier, who passed away on 4 September, leaves behind a highly coveted luxury empire. As succession questions multiply, the future of the Giorgio Armani brand now takes center stage.

“Giorgio Armani has always made independence of thought and action his trademark. Today, as in the past, the company reflects this spirit. His family and collaborators will continue the adventure of the group in respect and continuity of these values,” stated the company when announcing the death of the iconic designer. These clear words, however, open the door to many questions about the future of the empire left behind by “King Giorgio.”

For the first time in June 2021, Giorgio Armani appeared at the end of the show with his right-hand man Leo Dell’Orco (left). – Ph SGP

Between the company and his personal estate — including properties, artworks, real estate investments, shares, the Olimpia Milano basketball team, and the Armani/Silos museum — Giorgio Armani leaves behind a fortune estimated between €11 billion and €13 billion. With no direct heirs, he was free to designate how his estate would be managed. His last wishes will be revealed once his will is opened.

His immediate family includes his sister, Rosanna (86), and her son, Andrea Camerana (55), as well as his two nieces, Silvana (69) and Roberta (54), the daughters of his late brother, Sergio. All are members of the board of Giorgio Armani SpA, as is his longtime right-hand and managing consultant, Pantaleo “Leo” Dell‘Orco (72), who oversees the menswear collections. The designer has long referred to them as his intended successors.

The board also includes Yoox founder Federico Marchetti and Rothschild banker Irving Bellotti, who is also a board member of the Giorgio Armani Foundation, created in 2016 to ensure continuity of the company’s vision.

In a recent interview with How To Spend It, the Financial Times supplement, Giorgio Armani reiterated this succession plan: “My succession plan consists of gradually transferring the responsibilities I have always assumed to those closest to me, such as Leo Dell’Orco, to family members and to the entire team.” He added, “I would like the succession to be organic and not a moment of rupture.”

The founder controlled 99.9% of Giorgio Armani SpA, with the Giorgio Armani Foundation holding the remaining 0.1%. In 2024, the group employed nearly 8,700 people globally and posted €2.3 billion in revenue — a 6% drop from the previous year. Net profit also fell sharply, from €163 million in 2023 to €51.6 million. Europe accounts for 49% of revenue, with the Americas and Asia-Pacific each contributing 21%.

A couture look from the latest Armani Privé collection for Autumn-Winter 2025/26
A couture look from the latest Armani Privé collection for Autumn-Winter 2025/26 – ©Launchmetrics/spotlight

Armani meticulously prepared for this transition. The company’s revised articles of association were first approved in 2016 and finalized in September 2023. These statutes will take formal effect upon the opening of the succession. According to press reports at the time, the structure includes various share categories and voting rights, with a potential public listing allowed five years after the statutes take effect. Furthermore, 75% of shareholders must approve any mergers, spin-offs, amendments, or capital increases at an extraordinary general meeting.

During the transition, management may be handled by a select leadership committee. Creatively, Armani leaves behind a globally recognized design language and aesthetic. For now, it’s difficult to imagine another designer stepping into his shoes. The in-house design studio, led in part by Leo Dell’Orco, is expected to continue developing upcoming collections.

The responsibility of preserving the brand’s identity and value, estimated to be worth between €6 billion and €12 billion, depending on the analysts, will rest with the family and senior leadership. How this heritage is managed and evolved in the near future will shape Giorgio Armani SpA’s trajectory — and may invite interest from global luxury groups and investment funds.

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More UK retail workers than ever at risk of quitting – report

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More UK retail workers than ever at risk of quitting – report


Published



September 6, 2025

More than half of UK retail staff were at risk of leaving their jobs during spring than at any other time in the last two years over concerns around the insecurity of retail employment.

Photo: Pexels

Some 54% of retail workers were a ‘flight risk’ between April and June, a 19% increase from the previous year, according to the latest Retail People Index from the Retail Trust and AlixPartners.

It is also the highest percentage that the Retail People Index has recorded since it began tracking wellbeing across the sector two years ago.

More than 600 employees were surveyed, and answers to questions about pay, recognition, development and work-related anxiety were among those used to help calculate the flight risk score, which shows the likelihood of employees leaving their jobs.

Overall, wellbeing fell seven points year-on-year, from 66 to 59, and the number of retail staff working while feeling physically or mentally unwell rose by 12%, to 44% of all employees. 

The report says its findings follow separate data from the Office for National Statistics (ONS), which shows that there were 93,000 fewer retail jobs in March 2025 than in March 2024. The ONS also recently revealed that retail saw one of the largest drops in job vacancies between May and July 2025 compared to any other sector.

According to the Index, the impact of leading under-resourced teams has contributed to a decline in happiness levels among retail managers, which fell by 11%. This marks the first time that managers have reported feeling unhappier than non-managers since the publication of the first Index. 

Many managers reported feeling unfairly paid and unrecognised for doing something well. Meanwhile, the number of retail workers reporting a positive relationship with their manager also dropped to its lowest level in two years.

Chris Brook-Carter, chief executive of the Retail Trust, said: “Our research has previously shown retail workers tend to be at their happiest going into the summer, once the busy winter is well behind them, but ongoing insecurities around jobs, finances and the political climate are continuing to take their toll on people working in retail.  

“The rising employment costs announced in last year’s budget are placing huge economic pressures on the sector and we’re seeing this felt most severely by those working in management roles right now. They are the ones having to hold often under-resourced and unhappy teams together, and our findings suggest they feel inadequately supported for doing so.”
 
He added: “The financial pressures impacting the retail sector are largely outside of employers’ control, but there is an urgent need to address the particular burden this is now having on managers and to prevent the knock-on effect it will also have on their teams. Providing more training and support for leaders to look after themselves and those working for them is crucial if we are to prevent a further decline in morale, higher turnover and greater instability at a time when resilience is more important than ever.”
 
Laura Bond, a director at AlixPartners, also said: “This quarter’s Retail People Index reveals urgent challenges for retailers. With 54% of employees looking to leave their roles – the highest flight risk since our tracking began – and wellbeing scores dropping to 59%, below the critical 60% threshold, it’s clear that employees are struggling. Presenteeism rates have soared to 44%, the highest level seen in 18 months, while manager-employee relationships have deteriorated and reached a 24-month low.
 
“The seasonal spring wellbeing ‘bounceback’ is absent this year, and managers, traditionally the most resilient group, have seen an 11% decline in happiness year-on-year. Retailers must fundamentally shift their workplace culture to address these deeper issues, investing in manager support, overall morale, and staff wellbeing. Failing to do so risks continued talent loss, weakened service, and operational strain in an already challenging market.”

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US brand Crocs names Patraic Reagan CFO, reaffirms Q3 2025 outlook

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US brand Crocs names Patraic Reagan CFO, reaffirms Q3 2025 outlook



Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear for all, today announced the appointment of Patraic Reagan as the Executive Vice President and Chief Financial Officer of Crocs, Inc, effective September 22, 2025. Mr. Reagan will succeed Susan Healy, who tendered her resignation on August 28, 2025, effective immediately.

With approximately three decades of financial and operational leadership experience at prominent global consumer companies, Mr. Reagan will join the executive leadership team and will report directly to Andrew Rees, Chief Executive Officer. Most recently, Mr. Reagan served as the Chief Financial Officer for SharkNinja, Inc., a global product design and technology company. Prior to SharkNinja, Inc. he spent approximately 14 years at Nike, Inc.

Crocs, Inc has appointed Patraic Reagan as executive VP and CFO effective September 22, 2025, succeeding Susan Healy.
Reagan, with nearly 30 years’ experience at firms including SharkNinja and Nike, will oversee finance, planning, and investor relations.
He emphasised growth potential across Crocs and HeyDude brands.
The company has reaffirmed its Q3 2025 outlook.

“We are excited to welcome Patraic to Crocs, Inc. as our Chief Financial Officer. Patraic is a seasoned financial professional with a strong public profile and a track record of delivering consistent, profitable growth. We believe his consumer-centric mindset, robust financial experience in the footwear industry and his international expertise will complement our leadership team in driving long-term shareholder value,” said Andrew Rees, Chief Executive Officer.

Mr. Reagan will have responsibility over the company’s financial strategies in addition to financial planning and analysis, accounting, treasury, investor relations, tax and internal audit.

“Crocs, Inc. is a company that I have long admired—one whose profitable growth has been built on an enduring cultural icon and one where I see untapped potential across both the Crocs and HEYDUDE brands,” said Patraic Reagan, incoming Chief Financial Officer. “Drawing from my global experience of leading high-growth brands through disciplined execution, I look forward to working alongside the talented leadership team to unlock shareholder value and drive consistent results for years to come.”

“On behalf of the Board of Directors and our leadership team, we thank Susan for her many contributions to our company. We wish her the very best in her next chapter,” said Andrew Rees, Chief Executive Officer. In order to facilitate a smooth transition, Ms. Healy has agreed to stay on as an advisor through October 31, 2025. More details of this transition can be found in the company’s Form 8-K filed with the Securities and Exchange Commission earlier today.

The company is reaffirming its third quarter 2025 financial outlook as previously disclosed on August 7, 2025. Management will be presenting at the Goldman Sachs 32nd Annual Global Retailing Conference on September 3, 2025.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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