Fashion
Versace UK hit by tough market in latest year
Published
October 14, 2025
Versace UK’s latest accounts have been filed at Companies House and they show the business in decline for the 12 months to the end of March this year.
Sales saw a “significant” decrease, dropping 21% after a 19% fall the year before, with the company saying this followed the trend of the wider luxury sector and of other companies within its group (although being bought by Prada in a €1.25 billion deal, at the time these results cover, it was part of Capri holdings, which also includes Michael Kors and Jimmy Choo).
But as well as the generally reduced global demand for luxury goods, it also cited a broader decline in UK retail sales. And it talked of increased cost pressures from inflation and higher wages that were impacting retail sentiment.
Despite all this, and considering the level of competition in the British retail sector, the group “continues to consider the UK market as a profitable business” overall and it closed the year with a solid balance sheet. In fact its current assets exceeded its liabilities by over £7 million compared to a figure of £5.3 million in the previous year.
So let’s look at the numbers. Turnover was £15.26 million, down from £19.2 million and gross profit declined to £6.57 million from £9.38 million. In percentage terms that was a fall to 43.08% from 48.84%. While the cost of sales also fell, sales per employee dropped to £331,643 from £349,072.
Operating profit fell to £280,981 from £302,875 and profit before tax was down to £36,269 from £112,895. The loss for the financial year was £275,802, a swing from a profit of £382,397 a year earlier.
Copyright © 2025 FashionNetwork.com All rights reserved.
Published
October 14, 2025
National sports/fashion retailer Footasylum has returned to Glasgow’s Silverburn, becoming the latest addition to the Eurofund Group-operated premier shopping destination.
The retailer is returning with a larger footprint, taking a 9,585 sq ft two-storey unit at the centre.
In the last couple of years Footasylum has been busy expanding its UK retail footprint while also moving into upsized units in key destinations including a triple-the-size unit at West Midland’s Merryhill, Metrocentre Gateshead and Lakeside, Essex, as well as opening flagships on London’s Oxford Street and the Birmingham Bullring
In July, Footasylum released its final FY25 results showing a strong rise in both sales and profit. And it said that the first months of the current trading year had also been ahead of expectations.
For financial year 2024, “record results” included positive revenue growth and a 188% jump in profits.
During 2024, Silverburn also delivered record footfall for the second consecutive year, attracting over 15 million visits and achieving double-digit sales growth. Over three years of joint venture ownership, Henderson Park and Eurofund Group have agreed over 60 deals, significantly enhancing Silverburn’s status as the leading destination in Scotland.
The Footasylum news follows the recent arrival of other fashion brands including Bershka, Hollister, Pull & Bear and Stradivarius. The new store marks the brand’s fourth outlet in Glasgow and adds to its existing portfolio of around 60 stores.
Alberto Esguevillas, CEO UK Retail at Eurofund Group, said of the brand’s return: “Footasylum is a standout success story in the UK retail market, and we see [its] return to Silverburn [as] a welcome and popular new arrival”.
Copyright © 2025 FashionNetwork.com All rights reserved.
Fashion
Source Fashion celebrates global sustainable design with January Redress catwalk partnership
Published
October 14, 2025
Source Fashion has chosen Hong Kong-based Redress as its headline catwalk partner as the ethical trade show returns to Olympia London on 13-15 January.
The Asia-focused environmental NGO, which spotlights pioneering designers “who are reshaping fashion through circular and sustainable design”, will stage catwalk shows three times a day during the event, “offering a visual narrative of how responsible design and creative excellence can join forces to redefine the future of fashion”.
It will select two to three (as yet, unnamed) ‘Redress Design Award’ alumni to headline the catwalk with a curated showcase that “will highlight innovation, circular design thinking, and a strong commitment to reducing environmental impact”.
That ‘Design Award’ element is at the heart of Redress’s work as its sustainable fashion design competition “has built a global network of over 300 emerging designers pioneering circular and waste-reducing practices”.
The events management team said: “This makes Redress an ideal partner for Source Fashion, as both organisations share a commitment to innovation, education, and driving real-world change in the fashion industry. Together, they are empowering the next generation of designers to reshape fashion’s future through creativity and responsibility.”
Suzanne Ellingham, event director, added: “This partnership with Redress marks an exciting next chapter for the Source Fashion catwalk. [It] has been instrumental in nurturing some of the most forward-thinking designers working in sustainability today.
“Their alumni are proof that creativity and responsibility are not opposing forces, they’re the foundation of fashion’s future. By bringing their work to our stage, we’re giving buyers and brands a glimpse of what truly circular design can look like in practice.”
Christina Dean, founder of Redress, also said: “Our partnership with Source Fashion creates the perfect stage to show that sustainable fashion isn’t just a passing trend, it’s the future. By putting our Redress Design Award alumni in the spotlight, we’re proving that circular design can be innovative, beautiful, and commercially viable. This partnership is about inspiring the industry and showing that responsibility and creativity go hand in hand.”
Copyright © 2025 FashionNetwork.com All rights reserved.
“Stella McCartney is more than a fashion brand — she is a pioneer of a conscious luxury movement that challenges conventions and redefines the way the world experiences fashion. India’s growing base of environmentally aware, style-conscious consumers presents the perfect landscape for Stella’s mission to thrive. We are proud to bring her powerful vision to India,” said a Reliance Brands Limited spokesperson.
Reliance Brands Limited has partnered with British designer Stella McCartney to bring her sustainable luxury label to India.
The tie-up will showcase her ready-to-wear lines, vegan accessories, and footwear through multichannel distribution.
Founded in 2001, Stella McCartney is globally recognised for eco-conscious, cruelty-free fashion, with 47 stores and presence in 651 boutiques across 71 countries.
“We are thrilled to be bringing our conscious luxury movement to India and developing stronger connections with like-minded changemakers who want to build a fashion industry that is kinder to Mother Earth and our fellow creatures,” commented the Stella McCartney brand.
Founded in 2001 as a conscious luxury brand rooted in sustainability and desirability, Stella McCartney is one of the industry’s most prominent voices in responsible fashion. A lifelong vegetarian, Stella has never used leather, feathers, fur, or exotic skins in her collections. The brand is committed to material innovation and circular design, continuing to drive change across fashion, culture, and beyond.
With 47 retail locations — 36 directly owned and 11 franchise stores — across fashion capitals such as London, Paris, Milan, Tokyo, and New York, as well as a presence in 651 department stores and boutiques across 71 countries, Stella McCartney represents one of the most recognised and progressive luxury fashion brands in the world.
Fibre2Fashion News Desk (RM)
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