Retail news round-up on January 8, 2014: House of Fraser to launch plus size website, Ikea drops sales doubling plans, Stefano Pessina faces investor rebellion
House of Fraser to launch plus size website
House of Fraser will open a new online boutique, dedicated to selling plus size designs on March 3, according to womens magazine Marie Claire. The department store chain’s move comes in response to “the increasing demand for more plus size womenswear”. The new online store, which will be a dedicated section on the existing site rather than a standalone offer, will bring together an edited selection from collections by several designers. Alongside occasion wear, there will be swimwear, accessories and underwear.
Ikea drops plans of doubling sales in eight years
Swedish furniture retailer Ikea has abandoned its target of doubling sales by 2020, Goeran Grosskopf, chairman of the Ingka Holding parent company that comprises all of the Ikea businesses, told Swedish financial daily Dagens Industri. The company blamed the slowdown on global economic conditions.
Alliance Boots exec chairman to face investor rebellion over ‘undue influence’ over chemist chain
Italian billionaire Stefano Pessina is to face a potential revolt by investors over him ‘having undue influence’ over the chemist chain, The Guardian reported. Pessina, executive chairman of Boots owner Alliance Boots, made hundreds of millions engineering the sale of a 45% stake in Boots to US retailer Walgreen. His stake will increase to 16% if Walgreen buys the rest of Boots, which it has the option to buy for $9.5bn by 2016. Leading US investor CtW Investment Group has called on shareholders to support its proposals to limit Pessina’s influence on the company.