What has happened in the fashion industry in August? Eyewear! It has been making an impact this month with Selfridges launching the UK’s biggest eyewear department and Essilor acquiring the e-tailor My Optique for a spec-tacular deal size of £120 million. Not only that but Chanel launched its first e-commerce website for the fashion division in the UK, starting with eyewear too.
Coca Cola has strengthened its beverage global market with the proposed acquisition of Costa Coffee while the long hot summer does not seem to be ending, even with September round the corner. Although good news for British consumers, the heatwave, if it continues, could be bad news for retailers bracing themselves for losses of up to an estimated £80 million per week in sales. The House of Fraser story continues to dominate headlines with Sports Direct acquiring the department store chain out of administration for £90 million. Amazon has also shown that it is getting very serious about breaking into fashion.