Latest news with #UK-centric
The Guardian
31-03-2025
- Business
- The Guardian
Bad taste? Balenciaga coffee cup bag is luxury fashion's latest everyday flaunt
Lauren Sánchez attended a meeting in LA recently carrying a cup of coffee. So far, so unnewsworthy. But what first appeared as her morning caffeine fix was, in fact, a luxury handbag. The Balenciaga design, which is crafted from calfskin, sells for about £4,346.60 more than the average takeaway coffee in the UK. It mimics the reusable Balenciaga coffee cup – made of porcelain and polypropylene, it sells for £85 – and throwaway vessels. Sánchez, a former journalist who is the fiancee of Jeff Bezos, is not alone in opting for an accessory that mimics a consumer good but retails for several thousand pounds more. The supermodel Gigi Hadid recently wore a £1,541 Moschino vintage leather handbag made to look like a carton of orange juice. The brand also offers a clutch in the shape of celery. There is a Louis Vuitton bag designed to resemble a paint can (£1,980); as well as crisp packet bags, also from Balenciaga – spicy chilli, salt and vinegar, or cheese and onion (£1,450). Looking to more UK-centric consumer goods, Anya Hindmarch has built a business out of the model. Her Frosties, Perelló olives and Lea & Perrins bags are priced up to £1,300. According to Iain R Webb, a writer, curator and professor of fashion and design at Kingston school of art in London, this is not new. 'Historically, fashion has always appropriated the common place and utilitarian,' he said, citing 'Marie Antoinette dressing up (or down) like a shepherdess' and the £185 T-shirt from luxury label Vetements riffing on the global logistics company DHL. But Orsola de Castro, an author and a cofounder of the activist group Fashion Revolution, thinks these consumer product-mimicking designs are best relegated to the past: 'This kind of thing stopped being relevant after Andy Warhol did the Campbell's soup tins. Then it made sense. Then it had a rebellious spirit. Then it was making a point.' She added: 'If the coffee cup had existed then, the depiction of a coffee cup bag would have been some kind of a statement on plastic or on the unnecessariness of it all. But now it is simply just vulgar.' The optics of Sánchez, who as an author, pilot and Emmy award-winning journalist reportedly has a net worth of more than $30m (£23m), carrying a mundane object given a mogul makeover are particularly loaded. Dr Gaby Harris, a lecturer in fashion cultures at Manchester Metropolitan University, sees 'coded within these items … the privilege of the wealthy to engage with mass consumption while retaining exclusivity'. And with coffee prices at a record high, the play on a cup has even more significance than, say, a head of celery might. 'We are observing the inflation of goods while incomes remain stagnated. Thus, everyday staples such as coffee bear greater expense while top earners continue to amass wealth,' said Harris. Sign up to Fashion Statement Style, with substance: what's really trending this week, a roundup of the best fashion journalism and your wardrobe dilemmas solved after newsletter promotion The coffee cup bag chimes with the confusing current status of status. There is the rise of boom boom, the aesthetic of 80s-style greed and conspicuous consumption, that has been in the ascendant since Donald Trump returned to office. 'Sadly,' according to Webb, 'politically and economically we are witnessing a reflection of the 1980s, so it is not surprising that the showoff aspect of conspicuous consumption should again raise it's ugly head: fashion that is as flash as its price tag, fashion that says, 'I have loadsamoney'.' But the picture is nuanced. As Sean Monahan, the trend forecaster who coined boom boom, recently said: 'The American elite is in flux. For a long time, it was about people not wanting to flaunt wealth … Now, it's unclear where people are in the status hierarchy.' In this context, a luxury handbag in the shape of an everyday cup of coffee makes a certain topsy turvy sense.
Telegraph
21-03-2025
- Entertainment
- Telegraph
Topshop's rumoured Oxford Street comeback may be too late
At the peak of its success, Topshop had 500 stores around the world, including 300 in the UK. But as well as a commercial success, it became a significant force in the fashion industry, bringing trend-led pieces to the high street at an accessible price point. In 2005, Topshop's premium label, Topshop Unique, became the first high street brand to have a show during London Fashion Week. This ran until 2018, its catwalk graced by supermodels including Cara Delevingne and Gigi Hadid. Over the years, Topshop was worn by everyone from Kate Middleton to Kate Moss. The latter is intimately connected to the brand's history and the name behind one of its most memorable repeated collaborations (other collaborators included Christopher Kane and Beyonce). Moss memorably caused a stampede at the launch of her first collection in 2007 by stepping behind the Oxford Street store windows in a red dress. Years later, the crowds returned to see the supermodel launch another collection in 2014, when she posed alongside presenter Nick Grimshaw before introducing a live performance by DJ Duke Dumont. It's the stuff of millennial daydreams. But more than a decade on from those halcyon days, can Topshop recapture the same appeal? Or will its return prove little more than an exercise in nostalgia-baiting? 'I'm not sure what it is going to be,' says Jane Shepherdson, who led the brand to enormous success during her time as brand director from 1998 to 2007. 'Topshop was very much a product of its time, and things have changed enormously in the last few years.' It's undeniable that on Asos, it has failed to generate the hype of its heyday, not to mention that being generated at other high-street brands like Zara and M&S, where bestsellers frequently attract 'viral' attention. Nevertheless, there might be a space for it, especially given the decimation of British brands on the high street, where much-loved stores like Oasis and Warehouse are now notably absent. 'Topshop's return would be a welcome sight on the British high streets for sure,' says Peter Robinson, former head of press at New Look. 'I think there is an appetite for something a little cooler – a little more UK-centric – that can navigate that tightrope between catwalk trends and street style, which is missing from the current fashion map.' Of course, there are wounds to be healed, not least the legacy left by Green's downfall. 'The consumer was turned off by the wider Arcadia group issues of bad management and the treatment over pensions and the like,' says Robinson. 'Conscience is a retail pillar and brands need to live up to expectations here.' He adds that the 'shiny' new online labels were also a factor in Topshop's demise, from Everlane and Nobody's Child to fast fashion giants like Pretty Little Thing, Boohoo and Shein. As the future of the latter hangs in the balance, it might be time for a new Topshop era after all. The 9 best Topshop moments through its history
Associated Press
10-03-2025
- Automotive
- Associated Press
EV Cargo Reports Strong 2024 Financial Results in Transformative Year
EV Cargo reported EBITDA growth of 84%, increasing revenue and gross profit while reducing operating expenses Strategic investments and initiatives combine to power compelling results EV Cargo expects continued growth and success in 2025 and beyond HONG KONG, March 10, 2025 (GLOBE NEWSWIRE) -- EV Cargo Group Limited, a leading global transport and logistics services provider, is pleased to announce its unaudited financial results for the year ending 31 December 2024. 2024 has been a transformative year for EV Cargo, with many of the significant investments and strategic initiatives undertaken in recent years generating compelling value and results. We implemented key strategies aimed at expanding our service offerings, enhancing efficiency and improving customer satisfaction. Our enduring commitment to growth, innovation and sustainability has enabled us to better meet the evolving needs of our clients, strengthened our operational capabilities and positioned us for continued success. Strategic Highlights Global network development: In recent years, we have completed and integrated significant acquisitions, opened new offices and facilities across key geographies and strengthened strategic relationships. EV Cargo now operates a global network of 90 offices across subsidiaries in 21 countries. Expanded industry solutions: We have increased the number of industry verticals within our overall customer proposition where we have the powerful combination of deep subject matter knowledge, established operational capability and a strong track record of success. Strengthened the Palletforce network: We have increased the Palletforce member network, strengthening our service, adding capacity and growing faster than the overall market. Transformed the Solutions division: We have transformed EV Cargo Solutions to focus on managed transport solutions and contract logistics with a well-invested fleet, strategic carrier base and innovative technology across a UK-centric platform. Technology investments: We have invested meaningfully in our proprietary software, such as Alliance, LIMA, EV Flow and EV Track, as well as world class third-party systems to advance our digital strategy, including the use of AI powered productivity tools. Culture: 2024 saw the EV Cargo brand, culture and identity genuinely come to life like never before. On a global basis, our people are aligned and committed to our mission of managing supply chains for the world's leading brands. Financial Highlights Revenue growth: Our customer-focused approach and successful expansion initiatives resulted in revenue of £848.7 million, representing an increase of 8% compared to 2023. Global Forwarding & Technology and Palletforce posted revenue increases of 13% and 10%, respectively, with volume growth across air freight, sea freight and pallet distribution of 17%, 26% and 7%. Solutions had a modest revenue decline as part of its transformation initiative. Gross profit expansion: Our commercial and operational initiatives combined with revenue growth saw gross profit increase by 11% to £168.2 million, with gross profit margin increasing to 19.8%. Global Forwarding & Technology, which represents 68% of EV Cargo's gross profit, increased by 20% as compared to 2023. EBITDA growth: EBITDA (before special items) grew to £53.3 million, representing an increase of 84% and an EBITDA margin of 6.3%. Our focus on streamlining operations resulted in a £7 million net reduction in operating expenses, demonstrating our commitment to maintaining a lean and agile business model while also investing for growth. Financial strength: Net interest-bearing debt stood at £95.3 million as of 31 December 2024, representing 1.8x EBITDA. EV Cargo remains a financially strong organisation with a solid balance sheet. Our prudent financial management has allowed us to finance significant acquisitions, geographic expansion and strategic transformation, within conservative debt levels. This robust financial position not only enhances our resilience in a competitive market but also positions us well for future expansion and innovation. Executive Chairman's Statement Heath Zarin, EV Cargo Executive Chairman, said: 'EV Cargo has delivered strong customer service and impressive financial results, even amidst a volatile global supply chain landscape. 'Our ability to adapt quickly to changing market conditions has enabled us to meet and exceed customer expectations, reinforcing our reputation as a trusted partner in logistics. Despite industry-wide challenges, our dedicated team has remained focused on providing customer solutions that drive efficiency and satisfaction. 'I would like to thank our employees, partners and customers for your continued support and trust in EV Cargo. Together, we are poised for an even more successful 2025 and beyond. 'As we look to the future, we are excited about the opportunities that lie ahead. The strategic initiatives implemented in recent years have laid a strong foundation for growth and innovation. We remain committed to delivering exceptional value to our customers and stakeholders.' About EV Cargo EV Cargo: We manage supply chains for the world's leading brands EV Cargo Group is a leading global transport and logistics services provider, specialising in comprehensive solutions across air and sea logistics, road logistics and contract logistics. Headquartered in Hong Kong, EV Cargo boasts a robust network of 2,500 supply chain professionals strategically positioned in over 90 locations worldwide. With more than 3 million square feet of warehousing space and operations across 21 countries, the company is well-equipped to manage mission-critical supply chains for the world's leading brands. The company operates through three key divisions: Global Forwarding & Technology, which focuses on innovative freight forwarding and logistics solutions; Palletforce, a leading express palletised distribution network; and Solutions, which provides tailored managed transport and contract logistics services. Together, these divisions enhance EV Cargo's ability to deliver exceptional value and efficiency to its clients. Guided by core values of growth, innovation and sustainability, EV Cargo is dedicated to unlocking value in its customers' supply chains. The company focuses on reducing operating costs, enhancing customer service, and optimising inventory management, ensuring that clients can thrive in today's competitive landscape. At the heart of EV Cargo's success is its commitment to excellence. The company's global network combines industry-leading technology with a talented workforce to deliver cutting-edge supply chain solutions that foster the growth of exceptional businesses. Founded in 2018 by EmergeVest, a Hong Kong-based private investment group, EV Cargo continues to expand its impact on the logistics sector, driving forward with a vision for a more efficient and sustainable future. For further information please contact:
