Retail news round-up: Burberry criticized by investors and Zalando collaborates with Bestseller.
Burberry criticized by investors over pay package
Burberry is being criticized by two City corporate governance groups over the share awards paid to Julie Brown and Christopher Bailey, The Telegraph reported.
The Investment Association has issued an amber alert to its members, while the Institutional Shareholders Services (ISS) has asked investors to vote against the remuneration report at its annual meeting.
ISS said that Bailey, who is handling the role of chief creative and chief executive, was paid above the average amount.
Another concern was the share award issued to Brown, new chief financial officer, to compensate for shares she gave up at her previous employer.
Zalando collaborates with Bestseller
Zalando, the German etailer, is partnering with Bestseller, the Danish brand house, to expand Fashiontrade.com, Drapers reports.
Fashiontrade.com, the online fashion wholesale marketplace, was established by Bestseller in 2015.
Zalando’s vice-president of direct to consumer Carsten Keller said that the main aim of partnership is to digitalise the wholesale buying process, with a focus to help independent retailers.
Bestseller's chief information officer and CEO of Fashiontrade.com Pernille Geneser said the platform was established to make the buying process more cost effective for retailers.