DTC & E-Commerce – Page 2
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ArticleKYX re-emerges as a platform for secondhand sneakers
Rising from the ashes of the sneaker subscription platform KYX World, that disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers ...
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ArticleFootasylum picks NewStore for its omnichannel experience
The British footwear retailer Footasylum has selected NewStore, which provides a German omnichannel cloud platform for retailers, to power its omnichannel experience across some 60 stores in the U.K. “This new partnership builds on Footasylum’s modern technology architecture, which also includes Talon.One, a promotion and loyalty automation solution. Together, NewStore ...
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ArticleShein calls for review of U.S. “de minimis” trade rule in a move to stem criticism
Shein, the Singapore-based online fashion retailer, has proposed to work with the U.S. retail industry in order to jointly propose a new framework for Section 321 of the Tariff Act of 1930, known as the “de minimis” exemption. The company said that in a letter sent to the American Apparel ...
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ArticleShein is about to roll out its market place in Germany, Spain, France, Italy
Shein, the Singapore-based fast-fashion online retailer, announced that it is expanding its marketplace to Mexico, and that launches in Germany, Spain, France and Italy “will soon follow suit.” The marketplace was previously rolled out in Brazil and the U.S. Shein noted that the local marketplaces offer products from third parties ...
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ArticleAlibaba’s chairman and CEO resigns to focus on Alibaba Cloud
Daniel Zhang has unexpectedly resigned as chairman and CEO of Alibaba Group. He has served as CEO for the past eight years and as chairman for the past four years. The successors for the two vacant positions have already been determined: Joseph C. Tsai, currently executive vice chairman, will succeed ...
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ArticleWhite Mountain expands into footwear for girls
The U.S. footwear brand White Mountain is expanding into footwear for girls. The brand noted that following its acquisition by American Exchange Group in January 2023, it “has quickly ventured into several exciting and diverse product categories, marking a significant departure from their exclusive focus on women’s footwear for the ...
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ArticleAsos returns to profitability and Frasers Group lifts its stake
Asos, the struggling British online fashion retailer, returned to profitability in the third quarter and said its turnaround strategy was starting to bear fruit, prompting Frasers Group to lift its stake in the company to 10.6 percent. Adjusted Ebit rose more than £20 million (€23.3m) in the three months to ...
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ArticleM&S adds Skechers, Crocs and Toms to its online platform
The British retailer Marks & Spencer (M&S) is adding the footwear brands Skechers, Crocs and Toms to its Brands at M&S online platform as part of an effort to boost sales during the summer period. Richard Price, managing director of Clothing & Home at M&S noted that the retailer’s ”footwear ...
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ArticleAsos raises £80m by issuing shares
Asos raised about £80 million (€92.1m) of gross process by selling newly issued ordinary shares, but there is concern that the British online fashion retailer will need further cash to finance its restructuring. The shares were sold at 418.1 pence (€4.81) each. The proceeds will support the company’s Driving Change ...
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ArticleAlibaba misses revenue forecast but steps up investments
Alibaba reported that its revenues had missed the forecasts for its fourth quarter. The company is struggling to attract new users as the Chinese e-commerce market matures and new competitors chip away at market share. However, the Chinese e-commerce group released an update on its restructuring and plans to step ...
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ArticleOnline footwear sales in Germany continue to plummet in Q1
Online sales continued to drop in Germany in the first quarter of 2023 after a weak 2022, with the footwear sector again plummeting amid heightened uncertainty, a survey from the Federal association of e-commerce and mail order trade, BEVH, showed. E-commerce sales in Europe’s biggest economy dipped by 15.0 ...
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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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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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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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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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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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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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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 ...
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ArticleFarfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023
Farfetch reported a decline in revenues and gross merchandise value in the fourth quarter of 2022, a year marked by “unprecedented macro headwinds”, but said it was on better footing in 2023 after completing a strategic revamp and confirmed its guidance for growth in gross merchandise value (GMV) and an ...
