The Very Group news and archive

Economic pressures impact Very Group's Q2 revenue, but EBITDA rises

The Very Group's FY25 second quarter results reflected continued economic headwinds, leading to a 4.5 percent revenue decline, totaling 1.17 billion pounds. However, the multi-brand online retailer demonstrated resilience by boosting adjusted EBITDA by 17.4 percent year-on-year to 150.2 million pounds. “As expected, the market in Q2 FY25...

BusinessMember

Very Group posts sales growth during peak trading period

Over the peak trading period, for the seven weeks to 27 December 2024, Very UK reported a sales growth of 2.3 percent year-on-year, while group sales rose 0.5 percent. These figures increased further when excluding the sales impact of Nike, which has switched to a direct-to-consumer model. With this, Very UK and the group’s retail sales grew 4.5...

BusinessMember

Very Group full year profit improves but sales remain flat

Very UK full year revenue increased 0.7 percent to 1.84 billion pounds, while the group revenue declined by 1 percent to 2.13 billion pounds. The company said in a release that underpinning these results were retail performances at both the Very UK and group level, reflecting strategic investments in pricing and assortment of key categories to...

PeopleFeaturedMember

The Very Group ropes in former Asos CEO as non-executive director

The Very Group, which operates digital retailer Very, has appointed Nick Beighton as representative of global investment firm Carlyle and Paul O’Donnell as representative of international investment company IMI to the company’s board as non-executive directors. The company said in a release that non-executive director Mark McMenemy has retired...

BusinessMember

Very Group owner reportedly told to 'lower expectations' amid sales process

A new report has suggested that the Barclay brothers, the owners of Very Group, have been told to “lower their expectations” in their pursuit of a buyer for the fashion e-tailer. Very had been “forced” to put itself up for sale earlier this month, the Telegraph initially reported, as it faced continuously mounting debts. The media outlet noted...

BusinessMember

Very Group Q3 revenues take slight hit yet ‘outperforming’ wider market

The Very Group has published its financials for the 39 weeks ended March 30, 2024, during which it saw group revenues take a slight decline of 0.8 percent to 1,667.2 million pounds. While the retailer reported a drop, it noted that it was “outperforming the wider market” with 1 percent growth in the revenue of Very UK to 1,440.6 million pounds....

PeopleFeaturedMember

The Very Group names Nadhim Zahawi as non-executive chair

British e-tailer The Very Group, which operates digital retailers Very and Littlewoods, has appointed YouGov founder, former senior government minister and MP, Nadhim Zahawi, as its non-executive chair and board member. Zahawi, who has served in some of the most senior and high-profile ministerial roles in the British government, including as...

PeopleFeaturedMember

The Very Group CEO steps down, successor named

British e-tailer The Very Group has promoted its retail managing director Robbie Feather to the role of group chief executive officer as Lionel Desclée steps down. Desclée’s departure comes as the former executive looks to “pursue new opportunities”, the company said in a release, making way for Feather, who will join The Very Group’s board and...

BusinessMember

Very Group receives 125 million pounds funding from Carlyle and IMI

The Very Group has received a 125 million pounds funding package from global investment firm Carlyle and international investment house IMI. The agreement includes Carlyle and IMI each taking a seat on the Very Group board. The company also announced that following two years in the role and having reached the end of his contract term, Dirk Van...

BusinessMember

Very Group mulls private equity firm buyout

Online retailer Very is understood to be seeking a potential takeover offer from a number of private equity firms, but has been faced with an obstacle in the form of a hefty valuation. It has been reported that the long-time owners of Very, the Barclay family, have been approaching such companies in a bid to offload the retailer’s assets....

BusinessMember

Very Group fashion sales fall, yet retail sales rise elsewhere

The Very Group has reported its trading for the Christmas and Black Friday period, spanning seven weeks to 22 December 2023, during which it saw UK retail sales grow 3.4 percent year-on-year. The performance, which the company said was “consistently ahead of the UK online non-food retail market”, also represented a growth in market share over...

BusinessMember

The Very Group to utilise Gen AI to enhance shopping experience

British e-commerce retailer The Very Group has announced the expansion of a collaboration with Amazon Web Services (AWS) that will see it put to use generative artificial intelligence (AI) to enhance and deliver on personalised digital shopping experiences. Through the partnership, the company will launch a new Gen AI Innovation Lab in which it...