All E-Commerce & DTC articles – Page 11
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ArticleFarfetch profitability improves on lower markdowns
Farfetch posted a strong improvement in its gross operating profit thanks to a reduction in markdowns. In a conference call, José Neves, the company’s founder and chief executive, said that out of the 10 brands on its marketplace “five now follow a full-price strategy for their e-concessions” while the retailer’s ...
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ArticleKlarna launches of rewards program and Pay Now in nine new markets
Klarna, the global retail banking, payment and shopping service hailing from Sweden, is expanding two of its fastest-growing products internationally. With the global growth of Klarna’s rewards program and Pay Now payment method, the fintech company aims to become the go-to destination for every type of purchase while rewarding consumers ...
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ArticleANWR Schuh shifts digital strategy into higher gear
ANWR Schuh is undergoing a strategic overhaul and is expanding its digital activities in a bid to strengthen its collaboration with retailers and industry partners. Just like the entire footwear and fashion sector in Germany, ANWR Schuh and its affiliated partners took a heavy hit last year from the ...
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Wildling Shoes enters North American market
The German shoe maker Wildling Shoes, which manufactures minimalist footwear using sustainably sourced materials according to ethical manufacturing practices, will make its debut in North America with its spring/summer 2022 collection. The shoes will be sold exclusively online at us.wilding.shoes and are available in the U.S. and Canada. According ...
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U.K. online retailer Studio Retail files for administration
The British online retailer Studio Retail Group filed for administration for itself and Studio Retail Limited, its wholly owned subsidiary, after failing to obtain a £25 million (€30m) short-term loan. The company also suspended its shares on the London Stock Exchange while it begins the U.K.’s form of bankruptcy proceedings. ...
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ArticlePriceRunner sues Google for at least €2.1bn
The Swedish price comparison firm PriceRunner is suing Google for a preliminary amount of almost €2.1 billion at the Patent and Market Court in Stockholm. It claims that the U.S. company is overcharging European consumers, especially for apparel and footwear. The lawsuit follows the conclusion of the European General Court ...
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Nexgen Packaging invests in Mexico, Guatemala
Nexgen Packaging, an American supplier of packaging for the retail, apparel and footwear industry, is expanding its manufacturing capacity in Latin America with two new strategic investments. The expansion will allow it to meet the increasing demand from retailers and manufacturers, as required by the fast-growing omnichannel retail market, ...
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Genesco picks Syndic8 for data content delivery
Genesco has stepped up its e-commerce expansion with a new partnership. The Nashville-based footwear and accessories specialty retailer signed a deal with Syndic8 to use its product content management platform, the provider of cloud-based and collaborative, digital product distribution solutions. Syndic8 claims that its platform will enable Genesco’s sales ...
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India to introduce a digital rupee by March 2023
The Indian government plans to launch a digital rupee based on blockchain technology by March 2023. “Introduction of central bank digital currency will give a big boost to (the) digital economy. Digital currency will also lead to a more efficient and cheaper currency management system,” the finance minister, Nirmala Sitharaman, ...
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ArticleRussian bank takes over Stockmann to boost its e-commerce business
SberBank has signed a binding agreement to buy a 100 percent stake in the Russian fashion retailer Stockmann during the first half of 2022. The Russian bank plans to combine the retailer with its own multi-category marketplace, SberMegaMarket. The investment will be made “after conducting a comprehensive investment review” and ...
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News briefs
Yoox launches a marketplace in Europe
Yoox, which is part of the Yoox Net-a-Porter online retailing group, has launched its marketplace in almost 30 countries across Europe, with plans for further expansion across the U.S., Middle East and North Africa and Japan. The service supplements Yoox’s brand portfolio. The marketplace gives customers access to over 150,000 ...
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ArticleFootwear loses importance in OR Group’s online sales
Between Jan. 1 and Jan. 10, which corresponds to the Orthodox Christmas holidays, OR Group’s online sales grew by more than 30 percent compared to the same period in 2021. Household goods were the fastest-growing segment, with their share reaching 32 percent of total online sales. The company reported that ...
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ArticleThe Aura blockchain launches a SaaS solution for luxury brands
On Jan. 13, the Aura Blockchain Consortium launched Aura SaaS, a cloud-based software-as-a-service (SaaS) solution for its global blockchain-based platform designed for luxury brands. The consortium is a non-profit association based in Switzerland promoting socially responsible, sustainable and customer-centric business practices throughout the lifecycle of luxury products by leveraging blockchain ...
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Amazon reverses ban on U.K. Visa cards
Amazon has suspended a decision to ban the use of Visa credit cards in the U.K. The decision to ban the use of the cards from Jan. 19 was announced in November and was blamed on “high cost of payments”. The American online retailer said “we are working closely with ...
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Shopping via social media seen reaching $1.2 trillion in 2025
Shopping through social media platforms is expected to grow three times as fast as traditional e-commerce, according to a report issued by Accenture. Boosted by the Covid pandemic, it should rise from $492 billion a year to $1.2 trillion globally by 2025. The report shows that 64 percent of the ...
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FitFlop uses Rakuten’s new personalized cash back offer
The brand of fashion comfort shoes, FitFlop, is one of the first companies to have used Rakuten’s new personalized cash back service “Personalized Rewards.” Rakuten Americas, the North American division of Rakuten, a Japanese provider of internet and e-commerce services, explained that the service enables brands to make personalized cash ...
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ArticleBoohoo warns returns, weak U.S. sales are hitting profits
The British fast-fashion retailer Boohoo issued a profit warning on its full-year profits because of higher returns in the U.K. and a weaker-than-expected performance in the U.S. The company now expects a net sales growth of 12-14 percent, down from a previous growth guidance of 20-25 percent, for the year ...
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ArticleU.K. clothing sales above pre-Covid levels
In November, for the first time, sales of clothing stores in the U.K. surpassed their pre-Covid levels, according to the Office for National Statistics (ONS). Clothing stores reported an increase of 2.9 percent month-over-month in sales volumes, which were 3.2 percent above levels in February 2020, the last month not ...
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RVRC launches hiking shoes
The Swedish retailer of outdoor clothing RevolutionRace (RVRC) launched a line of hiking shoes. The company describes the Phantom Trail Mid, its first-ever footwear model, as being a waterproof hiking boot for men and women with the flexibility of a trail running shoe, designed for various activities all year round. ...
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OR Group reports a surge in Black Friday sales
OR Group, formerly known as Obuv Rossii, reported a substantial rise in online sales during Black Friday, held on Nov. 26. Online sales jumped by 44 percent in volume and by 30 percent in value, compared to a year earlier, the company said, not providing any additional details. OR Group ...
