All E-Commerce & DTC articles – Page 16
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ArticleNordstrom invests in Asos brands
The American department store chain Nordstrom has bought a minority stake in four brands owned by the British online fashion retailer Asos as it pushes to grab a share of the lucrative 20-something market. Nordstrom will take a minority stake in the Topshop, Topman, Miss Selfridge and activewear HIIT brands, ...
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EU postpones introduction of digital tax
The European Commission has postponed until October a European Union proposal to introduce a tax on digital companies to help fund a recovery plan aiming at stimulating the continent’s economy in the wake of the Covid-19 pandemic. A spokesperson for the commission said it is focusing attention on resolving open ...
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ArticleSpartoo raises €23.7m through a capital increase
The French footwear and fashion e-retailer Spartoo raised a gross €23.7 million through the issuance of new shares sold in an initial public offering (IPO) that completed on July 2. Based on the midpoint of its price range, the company was expecting gross proceeds of about €25 million, or €22.2 ...
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ArticleKlarna acquires social shopping platform Hero
Klarna, the retail banking, payments and shopping service from Sweden with over 90 million active users worldwide and 2 million transactions per day, has acquired Hero, a social shopping platform founded in 2015 and based in London and New York. Hero aims “to provide consumers with inspiration, advice and immediately ...
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ArticleC-Suite interview: Velasca aims to increase sales 10-fold to €100m in five years
Velasca, a fast-growing Milan-based footwear company, focuses on offering quality Italian-made shoes at reasonable prices through a tightly controlled direct-to-consumer (DTC) strategy. It aims to increase revenues from €10 million to €100 million in about five years and is currently seeking to raise €20 million to finance its growth.
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ArticleC-Suite interview: British flip flop start-up FoamLife begins with a bang
The British start-up FoamLife has started trading in the U.K., Ireland and France and is currently in talks with distributors and agents to expand in new markets next year. It has also launched a direct-to-consumer business in the British Isles through its own platform and Amazon and is scheduled to ...
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News briefs
Lectra buys Neteven to boost e-commerce solutions
Lectra, a French company that produces laser cutting machinery used by shoemakers, has agreed to buy the entire capital and voting rights of Neteven, a French firm which enables brands to automate and facilitate distribution on online marketplaces. Under the deal, Lectra will initially buy 80 percent of Neteven’s capital ...
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ArticleBig business on social media: Where digital natives shop
The plain “Buy now”-button seems to be a thing of the past. Online shopping is reducing friction, getting more intuitive, more fluid – and more social. “Social commerce” – or “social shopping” – is the fastest-growing distribution channel worldwide. Shoppable posts and stories allow brands and users to tag specific ...
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News briefs
Nike is the most resold brand
According to the British energy comparison website SaveOnEnergy, Nike is “by far” the most resold brand in the world. Based on the survey carried out from June 4 to 7, it found that the brand had a “staggering” 1,160,153 listings in total across the resale sites Depop, eBay, Asos Marketplace, ...
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Article
Boohoo Q1 revenues rise 32% as U.K., U.S. drive growth
The British fast fashion online retailer Boohoo reported a jump in first-quarter revenues due to strong performances in the U.K. and U.S. as Covid-19 lockdowns persisted, favoring e-commerce. The company reaffirmed its full-year guidance. Group revenues rose by 32 percent to £486.1 million (€564.0m-$684.0m) in the three months to May ...
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StockX probed by Italian competition authority
Italy’s competition regulator, AGCM, is investigating StockX – the U.S.-based online market for sneakers, streetwear, collectibles and other items – over various aspects of its service, among them allegedly misleading pricing. AGCM said that it is concerned by the “total absence” during the purchasing process of the identity of the ...
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ArticleAra Shoes says Russia is currently one of the best markets in Europe
The Russian shoe market is currently one of the best performing in Europe, where other markets have been more severely hit by the Covid-19 pandemic, Lillian Roor, sales director for Russia of the German company Ara Shoes, told the Russian publication Shoes Report. In the interview, she says that ...
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ArticleBlockchain technology: hype or helpful?
Blockchain technology (BT) is generally associated with cryptocurrencies, but it is rapidly being adopted in other sectors to streamline bureaucracy and foster transparency. In February 2019, the Italian industry ministry announced plans to set up, jointly with the computer giant IBM, a national scheme using BT to guarantee the traceability ...
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ArticleAmazon doesn’t owe any taxes in Europe
Amazon EU has won an appeal to Europe’s General Court against a 2017 ruling by the European Commission that ordered it to pay €250 million in back taxes to the government of Luxembourg, which were considered as “illegal state aid.” The Commission reacted with a plea for an international agreement ...
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ArticleAlibaba posts quarterly loss due to anti-trust fine
Alibaba reported an attributable net loss of 5.5 billion yuan renminbi (€710m-$836m) for the fourth quarter ended March 31, primarily due to a RMB 18.2 billion (€2.3bn-$2.8bn) anti-trust fine imposed by Chinese anti-trust regulators which charged the company of abusing its dominant market position. The fine represented about 4 percent ...
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ArticleBoohoo cautious on post-pandemic trade after profit surge
The British fast-fashion e-tailer Boohoo reported annual profits up by more than a third but warned that revenue growth will be weaker and returns will increase in the current fiscal year as the economy returns to normal after the disruption caused by the Covid-19 pandemic. Pre-tax profit for the year ...
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News briefs
LVMH launches B2B digital platform to sell deadstock
Nona Source, a B2B digital platform specializing in the sale of deadstock at discounted prices, was launched on April 26. It was founded by Romain Brabo, Marie Galguera and Anne Prieur du Perray with the backing of the French luxury goods group LVMH. The platform collects leftover fabric and leather ...
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ArticleZalando's pre-owned service now reaches 13 countries
On April 22, Zalando extended its service selling second-hand garments to seven additional European countries: Austria, the Czech Republic, Denmark, Finland, Ireland, Italy and Sweden. In October 2020, Zalando launched the “pre-owned” platform in six countries: Germany, Spain, Poland, France, Belgium, and the Netherlands. Torben Hansen, vice president recommerce at ...
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ArticleTencel launches e-commerce platform
The Lenzing group’s Tencel textile brand has launched the Tencel eShop. This first e-commerce site from a sustainable fiber manufacturer “bridges the divide between manufacturers and the end-consumer by curating a diverse mix of apparel and home goods made of Tencel branded fibers,“ the company said. The debut marks a ...
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ArticleLVMH, Prada and Cartier launch a blockchain for luxury goods
LVMH, Prada and Cartier, a unit of the Swiss luxury goods group Richemont, have joined forces to develop the Aura Blockchain Consortium, a global luxury blockchain. LVMH said that the collaboration “between competitors represents a single, innovative solution to shared challenges of communicating information on authenticity, responsible sourcing and sustainability ...
