All E-Commerce & DTC articles – Page 12
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ArticleOR Group nears bankruptcy
The Russian banks Sberbank and VTB Bank have joined bankruptcy proceedings against OR Group, the Russian arbitration courts database showed. Alongside Promsvyazbank, Sberbank and VTB Bank are the largest creditors of OR Group, formerly known as Obuv Rossii, which has been experiencing financial difficulties since the beginning of 2022. On ...
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U.S. footwear site traffic flat during Black Friday
In the U.S., footwear retailers experienced flat site traffic during Black Friday compared with the Black Friday of 2021. For all retailers surveyed, traffic grew 11 percent, according to Bluecore, a retail marketing platform. The total number orders fell by 8 percent year-over-year for footwear retailers but increased by 5 ...
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ArticleCCC targets cost savings, cuts revenue forecast in a difficult market
CCC Group, the Polish footwear and fashion group, cut its full-year outlook for revenues and capital expenditures and announced it would put into place cost savings measures totaling 300 million zloty (€64.0 million) as it continues to navigate through what it described as an “extremely challenging” year for retailers. Due ...
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Deckers is the winner of Black Friday in the U.S. according to a broker
Deckers Brands, the parent company of the Ugg brand, was named the clearest winner of the Black Friday week in the U.S. by the footwear and apparel team at Wedbush Securities. Ugg was one of the only brands tracked by Wedbush that was less promotional during the week in the ...
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ArticleBoohoo embroiled in another scandal on alleged working conditions
Boohoo has found itself embroiled in yet another scandal over alleged working practices after an undercover newspaper investigation. The London-based newspaper The Times placed a reporter in Boohoo’s warehouse in Burnley, north-west England, for a month, where staff described themselves as “slaves” and walked the equivalent of a half marathon ...
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ArticleShoe Carnival gears up for Shoestation.com launch as Q3 sales dip 4%
Shoe Carnival revealed that it is in the final testing phase for an e-commerce site for the recently acquired Shoe Station banner, with a launch date expected in the coming weeks or early in the group’s 2023 fiscal year at the latest. “We’re making sure the supply chain is flawless ...
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ArticleFarfetch’s operating loss widens despite higher sales
Farfetch, the online platform for luxury goods, suffered a $218.5 million operating loss in the third quarter of 2022 versus a $105.7 million loss in the year-ago period. The attributable net loss was $274.2 million against a profit of $767.2 million. Revenues increased by 1.9 percent, or 14.1 percent at ...
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Primark’s ‘click & collect’ trial crashes due to bigger-than-expected demand
Primark’s long-awaited online ordering trial has crashed after going live as it faced bigger than expected demand. Having resisted a move to internet shopping, the Irish fast fashion retailer decided to trial a “click & collect” service offering kids clothing, toys and nursery goods at 25 stores. However, shoppers are ...
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Spartoo drops its GMV growth guidance
Spartoo announced that its guidance regarding gross merchandise value (GMV) growth for 2022 and 2023 is now “obsolete.” The French online retailer had previously set a GMV growth target of more than 10 percent per year until 2024. The decision to drop the guidance ”follows the confirmation of a slowdown ...
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Russian e-commerce up by 39%
In the first eight months of 2022, Russia’s e-commerce industry experienced a 39 percent year-over-year rise in sales to 3.08 trillion rubles (€51.6 bn), the Association of Internet Trade Companies (AKIT) reported. In 2022, Russia’s e-commerce revenues are expected to exceed 5 trillion rubles (€83.7 bn), Artem Sokolov, the ...
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Rugged outdoor footwear market rebounds in 2021
After a disappointing 2020, impacted adversely by the global pandemic, the global branded outdoor shoe market returned to growth last year. Worldwide rugged outdoor footwear sales climbed 28 percent higher to $6,756 million in 2021, based on research conducted by the Outdoor Industry Compass in partnership with Sporting Goods Intelligence. ...
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Amazon expands legal efforts to stop the source of fake reviews
Amazon has announced that it has filed its first criminal complaint in Italy and its first lawsuit in Spain as part of its legal efforts to shut down fake review brokers. These two unprecedented lawsuits in Europe target bad actors that attempt to orchestrate fake reviews on Amazon and other ...
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THG’s sales rose 2.1% in Q3
THG, also known as the The Hut Group, posted a 2.1 percent increase in revenues to £518.6 million (€597m) in the third quarter of 2022 and an 8.8 percent rise to £1,595 million (€1,838m) in the first nine months of the year. The British online retailer said revenue growth was ...
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ArticleRussian shoe factories ramp up military production
Several Russian shoe factories have ramped up the production of military boots and other military items, such as berets, in the wake of mass mobilization in the country. Russia invaded Ukraine on Feb. 24 but military setbacks prompted the country’s president, Vladimir Putin, to order a partial mobilization on Sept. ...
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Amazon faces class action for allegedly favoring some products
Amazon faces a class action in the U.K. for allegedly favouring some products on its platform. According to estimates, the lawsuit, if successful, could result in damages of £900 million (€1,034m) for the U.S. online retailer. The legal action, which is expected to be filed in the Competition Appeal Tribunal ...
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ArticleAsos in talks to change its debt covenants
Asos is in the final stages of talks with lenders on changing the terms of a £350 million (€406.2m) borrowing facility amid concerns over its cash flow after a credit insurance firm cut cover for suppliers by more than half. The British online fashion retailer said the move will give ...
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Blibli’s parent aims to raise €540m in IPO
Global Digital Niaga, the parent company of the Indonesian e-commerce company Blibli, aims to raise as much as 8.17 trillion rupiahs (€540m) in its initial public offering next month, according to the company’s prospectus. The company plans to sell up to 17.77 billion shares, or 15 percent of its total ...
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Nice Footwear sets up a joint venture with Avirex
Nice Footwear is creating a joint venture with Avirex, a brand known for its leather jackets and chinos pants. Nice Footwear, which specializes in the production of sneakers, has held over the past years the license to produce footwear under the Avirex brand. Under the agreement, Nice Footwear will create ...
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ArticleSante + Wade plans to expand to physical stores
Sante + Wade, a premium British women’s footwear brand offering large sizes and fits, is planning to distribute its models in physical stores, with a focus on the U.S. and some large European markets. The company created by Shola Asante and Agnès Cushnie started operating in 2019. The brand, which ...
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ArticleFuture Fashion enters a new financing round
Future Fashion is raising about €1.3 million to finance product development and expand its sales network. The Italian company owns the namesake omnichannel platform offering fashion brands to “virtualize and customize” their collections in 3D using SaaS (Software as a Service) technology and Design Italian Shoes (DIS), which sells customized ...
