Retail news round-up on June 11, 2014: Topps Tiles gets £50m for expansion, Buccellati chief joins Mulberry, Supply chain slavery solution, DFS seeks upmarket shopper.
Topps Tiles gets £50m for expansion
UK’s leading tile retailer, Topps Tiles, has received £50m funding from the Royal Bank of Scotland and Barclays as part of their expansion endeavour, the East Midlands News reported. After reporting strong growth in profits, the tiling giant has now entered into a five-year deal with the banks in order to go ahead with its strategic growth plans.
“We are delighted to continue our relationship with RBS and Barclays and the facility provides a sound platform for our continued expansion.” says Topps Tiles chief Rob Parker.
Buccellati chief joins Mulberry
International fashion giant Mulberry has appointed Thierry Andretta, chief executive of Buccellati, as its non-executive director, The Independent reported. Prior to her association with the Italian jewellery brand Buccellati, Andretta has experience in the luxury goods sector where she has been a part of Lanvino, Gucci, LVMH and Moschino.
Retailers look forward to solution to slavery in supply chain
The UK Government has decided to take a step towards the eradication of slavery within the supply chain, reports Drapers. Home secretary Theresa May stressed that the co-operation from all communities, including the business community, was needed. Furthermore, representatives from the fashion and retail industries, including John Lewis and Primark’s parent company Associated British Foods (ABF) will attend a roundtable hosted by the Home Office on today to assess the most effective way forward.