Very news and archive

The Very Group secures refinancing following sales speculation

The Very Group has secured a 598 million pound refinancing by issuing senior secured notes due in August 2027. The company has further extended its 150 million pound revolving credit facility, replacing its existing 50 million pound senior facility and 100 million pound super senior facility. The amended facility will now mature in February...

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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...

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French Connection plans store openings amid new Very deal

French Connection is growing its reach both online and in the retail world. The British retailer has secured a new deal with e-commerce platform Very, on which it is set to launch as part of a continued UK expansion. The company is also preparing to open “four to five” stores by the end of 2024, adding to its current 19-strong retail network in...

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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...

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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...

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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...

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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...

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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...

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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...

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The Very Group names new creative partner, The Gate

Online retailer The Very Group has appointed creative agency The Gate as its lead creative partner as it looks to continue revitalising its brand platform. The Gate, which is part of MSQ, will begin working on this task as well as a revived creative approach across the course of this year, through the delivery of creative campaigns for the...

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Very to add AI-powered search functions to e-commerce

Online retailer Very has announced a new partnership with US-based tech firm Constructor, which will see the implementation of artificial intelligence (AI) solutions into its customer experience. Through the deal, Very will integrate new search, browse and autosuggest tools across its website and app, in order to optimise the product discovery...

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Very expands CFO role to include transformation capacity

The Very Group has announced that its current chief financial officer Ben Fletcher will be taking on the newly formed role of chief finance and transformation officer, effective immediately. In the position, Fletcher will continue to serve as part of the company’s executive team and board, reporting to the group’s CEO Lionel Desclée. Initially...