Fashion etailer ASOS says it’s in the “advanced stages” of preparing to launch an online marketplace that provides a platform for consumers and independent businesses to buy and sell clothes.
Art and craft retailer HobbyCraft has been acquired by private equity firm Bridgepoint in a management buyout rumoured to be worth £100 million. According to the Times, HobbyCraft made a pretax profit of £5.4 million in the year to 22nd February 2009, an increase of 67 per cent on the previous 12 months. A statement from Bridgepoint says it now plans to “create a significant multichannel online presence” for HobbyCraft, which has traditionally focused on out-of-town bricks-and-mortar stores.
Sporting goods etailer Kitbag, part of the Findel group, is opening a pop-up store in Manchester ahead of the football World Cup. Manchester Evening News reports that the store will be open for 90 days starting this Friday and that Kitbag employed an extra 60 staff to run it.
The Times profiles Stephanie Paver, owner of shoe shop chain Pavers, who at 82 years old still has no plans to retire.
Congrats to Tom Spring, a 12-year-old boy who won the Firebox.com competition to invent a new toy. Firebox managing director Christian Robinson told the Telegraph he hopes that “significant sums will go back to the inventor”, potentially netting Tom “thousands”.
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