All E-Commerce & DTC articles – Page 6
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News briefs
THG ends talks to be bought by Apollo
THG has terminated talks to be taken over by the private equity Apollo Global Management. On April 17, THG announced that it had received “a highly preliminary and non-binding indicative proposal” from Apollo to acquire its entire share capital. Following the proposal, THG entered into a short period of discussion ...
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Sneaker re-selling platform WeTheNew launches a €20m funding round
French-based limited-edition sneaker re-selling platform WeTheNew has announced a €20 million capital funding round. The Series B funding round was led by C4 Ventures, along with Singular, the company’s historical investor and the investment arm of Chalhoub Group, Chalhoub Ventures & Acquisitions. Also supporting the venture is French national team ...
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ArticleHotter Shoes’ parent in trouble as Marwyn drops £10m investment plan
Hotter Shoes’ owner Unbound Group has called in a turnaround specialist after a £10 million (€15m) funding deal collapsed amid a continuing deterioration in trading conditions. Last month, Marwyn Investment Management said it would provide the funding via an equity placing at 10.5 pence (12 euro cents) per share. However, ...
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ArticleAsos’ losses widen as shoppers cut back on spending
Asos reported wider interim losses as shoppers cut back on spending amid the cost of living crisis in the U.K. Financial analysts are divided on the company’s future prospects with one broker warning that the troubled company may have to raise more cash. In the first half ended Feb. 28, ...
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News briefs
Next’s Total Platform has a bright future
Next’s Total Platform is expected to boost the long-term financial estimates and valuation for the British fashion retailer, according to the broker RBC Capital Markets. The platform offers brands Next’s infrastructure and online services, including next day delivery, quick refunds and AI-driven search and recommendations, the broker pointed out. Currently ...
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Farfetch launches Reebok's European e-commerce
Farfetch, a leading platform provider for the luxury fashion industry, has announced that the partnership with Reebok to run its European e-commerce sites, announced following the sports retailer’s acquisition by Authentic Brands Group from Adidas in 2022, has now been implemented. The partnership announced at the time involves restructuring the ...
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ArticleZalando near operating breakeven in Q1
Zalando was close to breakeven at operating level in the first quarter, but investors were spooked by news that demand remained “muted” and that orders came in below expectations, prompting a decline in the share price of the German online fashion retailer. Gross merchandise volume (GMV) rose by 2.8 percent ...
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News briefsBoohoo reportedly asks suppliers for discounts in bid to cut costs
The British fast fashion retailer Boohoo has reportedly asked suppliers for discount on orders as it looks to manage costs. The Times newspaper reported that all suppliers received a call on Thursday requesting a 10 percent discount on all delivered and undelivered clothing orders. “This is major self-harm. They are ...
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ArticleDeichmann and DHL launch joint delivery station test project
Deichmann has launched a new pilot project in partnership with the logistics group DHL which will allow customers to collect or deliver a parcel in one of the German shoe retailer’s stores and seize the opportunity for some quick shopping. The new service points, dubbed DHL Packstations, are being ...
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News briefs
Twitter 2023 revenues seen down 28% after Elon Musk's takeover
The revenues of Twitter are expected to decline by 28 percent to $2.98 billion in 2023 from $4.14 billion in 2022 as some advertisers shun the U.S. social media after its takeover by the businessman Elon Musk, according to the research firm Insider Intelligence. “The biggest problem with Twitter’s ad ...
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ArticleRussian marketplaces join forces to clamp down on counterfeit goods
A group of Russia’s largest online marketplaces launched a joint initiative to establish a blacklist of suppliers found peddling counterfeit goods. The businesses decided to clamp down on fraud after facing growing criticism from customers and concern from regulators. Russia’s Center for the Development of Advanced Technologies, a government agency ...
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News briefsAmazon destroyed over 6m counterfeit items in 2022
Amazon claims that it destroyed over 6 million counterfeit goods in 2022 compared with some 3 million in 2021 and about 2 million in 2020. “Our efforts to identify and dismantle counterfeit organizations are working and making a positive impact. In 2022, Amazon’s Counterfeit Crimes Unit sued or referred for ...
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ArticleDeichmann to invest €500 mln in 2023
Deichmann plans to invest around €500 million this year, half of which is earmarked for Germany. Investments will focus on the modernization and expansion of the store network, as well as in international growth, digitalization and logistics. The German footwear retailer plans to open 200 new stores worldwide. At the ...
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Zalando plans to reduce its brand portfolio
Zalando is planning to scale down its global brand assortment in order to increase the relevance of its assortment. “In the beginning, Zalando was all about unlimited choice. This was a bold vision. And for a long time, this assortment span was one of our strongest selling points and exactly ...
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Alibaba to split into 6 units
Alibaba will split into six business units that will have the right to raise funds independently and be listed. The restructuring aims to make the group “more agile, shorten decision making links and respond faster,” wrote the chairman and chief executive, Daniel Zhang, in a letter to staff. The six ...
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ArticleSpartoo’s GMV drops slightly in 2022
In 2022, Spartoo saw its gross merchandise value (GMV) decrease by 1.9 percent compared to the year earlier to €209.6 million due to high inflation and a “slowdown in demand affecting all e-commerce players,” according to the French online retailer. GMV from B2C services slipped to €189.9 million from €192.8 ...
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Amazon cuts an extra 9,000 jobs
Amazon plans a new round of job cuts involving about 9,000 employees, the chief executive, Andy Jassy, informed staff in memo, according to the news agency AP. According to the report the redundancies will mostly impact staff of the cloud services, advertising and Twitch units. In January, the U.S. ...
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News briefs
Jennifer Lopez partners with Revolve for a line of footwear
Jennifer Lopez, the American singer and actress, has joined forces with Revolve, a U.S. lifestyle brand, to launch an exclusive line of footwear under the JLO Jennifer Lopez brand. JLO Jennifer Lopez for Revolve will launch in three drops, starting with a 16 piece collection of sculptural heels. The first ...
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News briefs
Consumer demand for footwear bounces back in Russia
In January 2023, Russian fashion retailers enjoyed an 11 percent year-over-year rise in revenues thanks to a 6 percent increase in customer traffic, Russian consulting firm Focus Technologies estimated, attributing the trend primarily to weaker competition due to the departure of numerous Western brands from the country following Russia’s invasion ...
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ArticleInsolvent Surf4shoes is taken over
The German online shoe retailer Surf4shoes has found a new owner. The company, a subsidiary of the Osnabrück-based Hamm Reno Group, filed for preliminary insolvency in September 2022 and bankruptcy proceedings were opened on Dec. 1. Commertunity, which specializes in the acquisition, development and management of brands and business ...
