Apparel Online Bangladesh Magazine May Issue 2019 | Page 70

RETAIL CURRENT TO ADVERTISE GOING TO A GOOD EVENT? Contact Rani Mahendru [phone] (512) [email protected] Send your industry gossip, photos and news to [email protected] Allen Solly refines trousers' collection with new ‘functional' line Allen Solly, India’s pioneer brand from the house of Aditya Birla Fashion and Retail Ltd., has launched a new set of trousers that incorporates blends, which provide comfort and mobility. The collection aims at refining the trouser category and has incorporated innovative detailing and modern construction. The new stylish collection of fashion-forward trousers by the brand comes with sporty side stripes, elastic waistband, lightweight fabric and crop fit adding a touch of vogue to officewear. The contemporary collection will be available in stores across India. Allen Solly is known to have defined the category of chinos and has revolutionised the lifestyle of professionals with the new-age workwear collection over the years. The new collection gives young men a chance to make a fashion statement at work not only with shirts but also with a range of stylish and functional trousers. Allen Solly has an exclusive network of 2,000 stores, covering 3.05 million sq. ft. retail space. It is present in more than 3,800 premium multi-brand stores and 490 departmental stores. Superdry sees mass resignations from top management Superdry Chairman Peter Bamford, Chief Executive Euan Sutherland, Chief Financial Officer Ed Barker and Chairman of The Remuneration Committee Penny Hughes, have all resigned from the business with immediate effect, following Co-founder Julian Dunkerton’s re-election to Superdry’s board. Four other directors have announced that they would step down on 1st July 2019. Additionally, UBS and Investec – Superdry’s brokers, have also resigned. The shocking development of events came after Julian Dunkerton won an investor vote which reinstates his position in the company. Shareholders of the company voted by a narrow majority of 50.75 per cent to re-elect Dunkerton in a major blow to Superdry’s Directors, who had previously threatened to resign after warning investors that Dunkerton’s reappointment would be ‘extremely damaging’ for the company. The move comes after Dunkerton, who stepped down from the board last year, saw the value of his holding plunge by £ 250 million in 2018 following a series of profit warnings and an 80 per cent crash in the company’s share price. Being the owner of an 18 per cent stake in the business, he sought to return to the helm to revive the firm’s finances. group in the wrong direction. The meeting earlier saw shareholders lashing out at Sutherland and Bamford for their roles at the helm of the group. Things between Dunkerton and Superdry have been sour in the past few months, with both sides accusing the other of leading the Following the results of vote, Dunkerton told City A.M., “We will work with anybody as they long as they do what’s the best strategy… 70 Apparel Online Bangladesh | MAY 2019 | www.apparelresources.com they must not let pride get in the way.” Dunkerton will be taking over as Interim Chief Executive at Superdry, while Peter Williams (former Boohoo chair who also narrowly won a vote to return to the board) has been appointed as Superdry’s Chairman.