All E-Commerce & DTC articles – Page 18
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News briefs
Japanese sneaker platform Soda raises $56 million
Japanese sneaker platform Soda raised 6.2 billion yen (€48.1m-$56.4m) in a Series C funding. The main investor was Kream Corporation, a South Korean sneaker reselling platform that is part of the portfolio of South Korean SoftBank Ventures Asia, which in turn is also one of the Series C investors, along ...
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News briefs
Asos’ chairman quits
Adam Crozier, the chairman of the British online retailer Asos, has been appointed chairman of the U.K. telecommunications operator BT, where he will succeed Jan du Plessis when he retires from the board on Dec. 1. Crozier will join BT’s board as an independent non-executive director and chairman designate on ...
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News briefs
Farfetch GMV rises 40% in Q2
In the second quarter, the British online fashion retailer Farfetch posted a 40 percent year-on-year increase in gross merchandise value (GMV) to $1.008 billion, driven by a similar growth to $913.4 million in GMV generated by the digital platform. GMV stemming from the brand platform grew to $72.7 million from ...
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Article
Wildberries’s H1 sales rise by 70%
In the first half, the sales of Russia’s largest online retailer, Wildberries, jumped by 70 percent year-over-year, reaching 303 billion rubles (€3.5bn-$4.04bn). In volume, sales were up by 82 percent. The fashion segment rose by 39 percent year-on-year to 135.8 billion rubles (€1.57bn-$1.84bn). In the sole second quarter, revenues ...
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ArticleObuv Rossii enters kids market with Universal Studios license
Obuv Rossii Manufacture, which is part of Russia’s OR Group, has obtained a license from Universal Studios to produce and sell footwear under the brands Minions, Jurassic World, Trolls, and Spirit in Russia and other members of the Commonwealth of Independent States for 2.5 years. No financial details were released. ...
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Article
StockX's GMV up 90% thanks to new categories
In a mid-year snapshot of its “Culture Index,” which was first launched last year, StockX reported a 90 percent increase in the gross merchandise value (GMV) going through its marketplace in the first half of 2021, led by a growth of 250 percent from “emerging categories” such as gaming consoles, ...
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ArticleAsos warns of volatility ahead as global sales rise
The British online fashion firm Asos warned of volatility in the months ahead as it reported a rise in sales and maintained its annual profits guidance. It added that profits were being squeezed by increased freight costs and global supply chain disruption caused by the Covid-19 pandemic and Brexit. “The ...
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ArticleNordstrom invests in Asos brands
The American department store chain Nordstrom has bought a minority stake in four brands owned by the British online fashion retailer Asos as it pushes to grab a share of the lucrative 20-something market. Nordstrom will take a minority stake in the Topshop, Topman, Miss Selfridge and activewear HIIT brands, ...
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News briefs
EU postpones introduction of digital tax
The European Commission has postponed until October a European Union proposal to introduce a tax on digital companies to help fund a recovery plan aiming at stimulating the continent’s economy in the wake of the Covid-19 pandemic. A spokesperson for the commission said it is focusing attention on resolving open ...
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ArticleSpartoo raises €23.7m through a capital increase
The French footwear and fashion e-retailer Spartoo raised a gross €23.7 million through the issuance of new shares sold in an initial public offering (IPO) that completed on July 2. Based on the midpoint of its price range, the company was expecting gross proceeds of about €25 million, or €22.2 ...
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ArticleKlarna acquires social shopping platform Hero
Klarna, the retail banking, payments and shopping service from Sweden with over 90 million active users worldwide and 2 million transactions per day, has acquired Hero, a social shopping platform founded in 2015 and based in London and New York. Hero aims “to provide consumers with inspiration, advice and immediately ...
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ArticleC-Suite interview: Velasca aims to increase sales 10-fold to €100m in five years
Velasca, a fast-growing Milan-based footwear company, focuses on offering quality Italian-made shoes at reasonable prices through a tightly controlled direct-to-consumer (DTC) strategy. It aims to increase revenues from €10 million to €100 million in about five years and is currently seeking to raise €20 million to finance its growth.
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ArticleC-Suite interview: British flip flop start-up FoamLife begins with a bang
The British start-up FoamLife has started trading in the U.K., Ireland and France and is currently in talks with distributors and agents to expand in new markets next year. It has also launched a direct-to-consumer business in the British Isles through its own platform and Amazon and is scheduled to ...
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News briefs
Lectra buys Neteven to boost e-commerce solutions
Lectra, a French company that produces laser cutting machinery used by shoemakers, has agreed to buy the entire capital and voting rights of Neteven, a French firm which enables brands to automate and facilitate distribution on online marketplaces. Under the deal, Lectra will initially buy 80 percent of Neteven’s capital ...
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ArticleBig business on social media: Where digital natives shop
The plain “Buy now”-button seems to be a thing of the past. Online shopping is reducing friction, getting more intuitive, more fluid – and more social. “Social commerce” – or “social shopping” – is the fastest-growing distribution channel worldwide. Shoppable posts and stories allow brands and users to tag specific ...
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News briefs
Nike is the most resold brand
According to the British energy comparison website SaveOnEnergy, Nike is “by far” the most resold brand in the world. Based on the survey carried out from June 4 to 7, it found that the brand had a “staggering” 1,160,153 listings in total across the resale sites Depop, eBay, Asos Marketplace, ...
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Article
Boohoo Q1 revenues rise 32% as U.K., U.S. drive growth
The British fast fashion online retailer Boohoo reported a jump in first-quarter revenues due to strong performances in the U.K. and U.S. as Covid-19 lockdowns persisted, favoring e-commerce. The company reaffirmed its full-year guidance. Group revenues rose by 32 percent to £486.1 million (€564.0m-$684.0m) in the three months to May ...
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News briefs
StockX probed by Italian competition authority
Italy’s competition regulator, AGCM, is investigating StockX – the U.S.-based online market for sneakers, streetwear, collectibles and other items – over various aspects of its service, among them allegedly misleading pricing. AGCM said that it is concerned by the “total absence” during the purchasing process of the identity of the ...
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ArticleAra Shoes says Russia is currently one of the best markets in Europe
The Russian shoe market is currently one of the best performing in Europe, where other markets have been more severely hit by the Covid-19 pandemic, Lillian Roor, sales director for Russia of the German company Ara Shoes, told the Russian publication Shoes Report. In the interview, she says that ...
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ArticleBlockchain technology: hype or helpful?
Blockchain technology (BT) is generally associated with cryptocurrencies, but it is rapidly being adopted in other sectors to streamline bureaucracy and foster transparency. In February 2019, the Italian industry ministry announced plans to set up, jointly with the computer giant IBM, a national scheme using BT to guarantee the traceability ...
