DTC & E-Commerce – Page 8
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ArticleBoohoo drastically reduces U.K. suppliers
The British online fast fashion retailer Boohoo has slashed its domestic supplier network to 78 firms from around 500 as it tries to rebuild its reputation after allegations of poor conditions for workers. The firm acted after an independent review found “endemic” failings at factories making its products ...
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ArticleZalando lifts sales forecasts, aims for 10% of Europe’s fashion market
Zalando has lifted its sales and profit forecasts for 2021 after reporting a 23.1 percent rise in revenues to about €7,982 million for the 12 months to Dec. 31, 2020, with increases of 17.2 percent in the German-speaking countries and 28.4 percent in the rest of Europe, where they ...
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ArticleKering invests in secondhand e-tailer Vestiaire Collective
Kering has acquired an about 5 percent stake in Vestiaire Collective , an online platform for second-hand fashion items. The investment gives the French luxury goods group the right to be represented on e-tailer’s board. Kering and the American investment firm Tiger Global Management backed a €178 ...
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Wildberries and Amazon enter new countries in Europe
Russia’s biggest online retailer, Wildberries , has started to operate in France, Italy and Spain, with dedicated sites and mobile apps tailored to the local markets, the company has said in a statement. It has been operating in Germany since January. The company currently offers about four million items ...
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ArticleSpain launches 2nd edition of footwear digitalization program
The Spanish footwear association Fice and the local trade agency, Icex , have launched the second edition of the program Global Through Innovation , aimed at promoting innovation and the digitalization of the footwear industry. The initiative is scheduled to start in April and candidates must send their applications ...
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ArticleFarfetch achieves its first quarterly adjusted operating profit
Farfetch posted its first quarterly positive adjusted operating profit, but its net losses increased dramatically due to some $2.1 billion in non-cash adjustments. The company expects to finish 2021 with an adjusted operating profit. In the fourth quarter, the British fashion e-tailer saw gross merchandise value (GMV) ...
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ArticleOnline sales in Russia skyrocket
In 2020, the Russian online market totaled 3.2 trillion rubles (€35.4bn-$43bn), which was 58.5 percent higher compared to the previous year, Russia’s Association of Internet Trade Companies ( AKIT ) estimated. The turnover for domestic platforms doubled, reaching 2.8 trillion rubles (€31bn-$36.7bn). The remainder of the spending went to ...
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ArticleThe U.K. to regulate the “buy now pay later” market
The British government announced that the increasingly popular interest-free ”buy now pay later” (BNPL) credit agreements will be regulated by the Financial Conduct Authority (FCA) in order to protect consumers. The government noted that the volume of transactions involving BNPL solutions more than tripled in 2020 as the ...
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ArticleCortina leverages its logistics expertise
Cortina, the Belgian footwear company, is leveraging off its experience dating back to the 1950s in handling the logistics for the shoes it produces. It is now actively marketing these services to third parties under a new brand, Synogix, and with an eye on becoming a logistics partner for internationally ...
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ArticleThe Russian government may begin subsidizing online shoe exports
Russian marketplaces may be eligible to government subsidies for sales abroad, the Russian Industry and Trade Ministry said in a statement on its website. The government plans to spend 1.5 billion rubles (€16.3m-$19.7m) to support such exports between 2021 and 2023, but this figure is likely to be adjusted in ...
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ArticleU.K.-EU trade heavily affected by Brexit, worse may be ahead
Brexit has complicated life for merchants in the European Union exporting to the U.K., which highlights new paperwork requirements, higher administrative costs, delivery delays and uncertainty about what the rules of the game are now that the U.K. is no longer a member of the single market since Jan. 1. ...
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ArticleBoohoo in exclusive talks to buy three Arcadia brands
The British fast-fashion online retailer Boohoo is in exclusive discussions with administrators regarding the acquisition of three Arcadia- owned brands: Dorothy Perkins , Wallis and Burton . In a filing with the London Stock Exchange , Boohoo stressed that no deal is guaranteed. The acknowledgement came ...
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ArticleDigital natives are the most frequent cross-border e-commerce shoppers
A recent survey by eShopWorld , a privately held Irish company headquartered in Dublin with offices around the globe that provides a technology platform for brands and retailers looking to sell online to global markets, found out that younger, digitally native consumers aged 25 to 34 are the group that ...
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Mastercard hikes fees on U.K. e-commerce purchases from EU
Mastercard is preparing to increase fees charged to EU merchants when British cardholders buy their goods online by at least 400 percent, a move it said is being made due to Brexit and could lead to higher prices for consumers should merchants decide to pass on the higher costs ...
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ArticleBoohoo, Asos make moves on top U.K. brands
The British online fast fashion retailer Boohoo has acquired all of the intellectual property assets, including customer data and related business information and selected contracts, of the U.K. department store chain Debenhams , which is currently under administration, for £55 million (€75.3m-$69.1m), plus value-added tax, in cash. ...
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Artémis invests in Goat Group
Groupe Artémis , which controls the Kering luxury group while remaining the biggest shareholder in Puma , has made an unspecified investment in the Goat Group , the online auction-based sneaker reseller. The idea is to help accelerate Goat’s growth, expanding its international reach and diversifying its business in ...
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DPD resumes U.K. road services to EU after Brexit customs delays
The parcel carrier DPD has resumed its road service from the U.K. to the European Union after resolving customs clearance problems caused by post-Brexit administration rules. The U.K. left the single market on Dec. 31, 2020. The company had suspended operations in the first week of the month ...
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ArticleANWR takes resellers to the Netherlands through Amazon.nl
The German footwear buying group ANWR is making it easier for its partners to sell on Amazon in the Netherlands. Since the beginning of December, all resellers operating on the German Amazon marketplace through the e-commerce control tool Qualibet, which is run by ANWR Group’s unit ANWR ...
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ArticleIndustry Insights: How to find new B2B business in a digitalized market
The past spring created for most of us a feeling of pandemic panic and business paralysis. Offices were shut down and most employees were asked to work from home. From a pure productivity perspective, it gave a temporary feeling of winning back control of time. Time freed up from commuting ...
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ArticleObuv Rossii undergoes rebranding as it moves away from shoes
The Russian footwear retailer Obuv Rossii is changing names to mark its diversification away from shoes. The company is removing the word Obuv (meaning shoes in Russian) from its name to become simply OR for the main operating unit and OR Group for the parent company. Even ...
