All E-Commerce & DTC articles – Page 19
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ArticleAmazon doesn’t owe any taxes in Europe
Amazon EU has won an appeal to Europe’s General Court against a 2017 ruling by the European Commission that ordered it to pay €250 million in back taxes to the government of Luxembourg, which were considered as “illegal state aid.” The Commission reacted with a plea for an international agreement ...
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ArticleAlibaba posts quarterly loss due to anti-trust fine
Alibaba reported an attributable net loss of 5.5 billion yuan renminbi (€710m-$836m) for the fourth quarter ended March 31, primarily due to a RMB 18.2 billion (€2.3bn-$2.8bn) anti-trust fine imposed by Chinese anti-trust regulators which charged the company of abusing its dominant market position. The fine represented about 4 percent ...
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ArticleBoohoo cautious on post-pandemic trade after profit surge
The British fast-fashion e-tailer Boohoo reported annual profits up by more than a third but warned that revenue growth will be weaker and returns will increase in the current fiscal year as the economy returns to normal after the disruption caused by the Covid-19 pandemic. Pre-tax profit for the year ...
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News briefs
LVMH launches B2B digital platform to sell deadstock
Nona Source, a B2B digital platform specializing in the sale of deadstock at discounted prices, was launched on April 26. It was founded by Romain Brabo, Marie Galguera and Anne Prieur du Perray with the backing of the French luxury goods group LVMH. The platform collects leftover fabric and leather ...
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ArticleZalando's pre-owned service now reaches 13 countries
On April 22, Zalando extended its service selling second-hand garments to seven additional European countries: Austria, the Czech Republic, Denmark, Finland, Ireland, Italy and Sweden. In October 2020, Zalando launched the “pre-owned” platform in six countries: Germany, Spain, Poland, France, Belgium, and the Netherlands. Torben Hansen, vice president recommerce at ...
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ArticleTencel launches e-commerce platform
The Lenzing group’s Tencel textile brand has launched the Tencel eShop. This first e-commerce site from a sustainable fiber manufacturer “bridges the divide between manufacturers and the end-consumer by curating a diverse mix of apparel and home goods made of Tencel branded fibers,“ the company said. The debut marks a ...
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ArticleLVMH, Prada and Cartier launch a blockchain for luxury goods
LVMH, Prada and Cartier, a unit of the Swiss luxury goods group Richemont, have joined forces to develop the Aura Blockchain Consortium, a global luxury blockchain. LVMH said that the collaboration “between competitors represents a single, innovative solution to shared challenges of communicating information on authenticity, responsible sourcing and sustainability ...
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ArticleOnline sales exceed €100 billion in German-speaking countries
In 2020, the outbreak of the coronavirus pandemic led revenues from e-commerce to exceed the €100 billion threshold for the first time in the German-speaking countries of Germany, Austria and Switzerland, according to BEVH, the German E-Commerce and Distance Selling Trade Association. Orders averaging €1,000 were placed by customers in ...
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ArticleMost consumers have changed shopping habits with the pandemic
In its latest Fast-Moving Consumer Goods (FMCG) Report 2021, London-based data and analysis company YouGov surveyed more than 19,000 consumers in 17 markets worldwide to find out about their shopping behavior. The study reveals differences between the various markets, but also similarities. A 59 percent majority of consumers across all ...
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News briefsBoohoo adds fourth UK warehouse to expand capacity
Boohoo has acquired access to a fourth warehouse to support its expansion, increasing the British online fast-fashion retailer’s annual sales capacity to more than £4 billion (€4.62bn-$5.5bn) on aggregate.The company has signed a long-term lease on the former Arcadia distribution center site in Daventry, Northamptonshire, which was bought out of ...
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ArticleANWR makes its debut on Amazon.fr in online retail expansion
Less than three months after its debut on Dutch platform Amazon.nl, ANWR lands on Amazon.fr, the French website of the American online retail giant, in a move to further expand its affiliated retailers’ Europe-wide online reach. As there are still no uniform regulations across Europe regarding easing restrictions or post-Covid ...
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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 in Leicester, ...
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News briefsAmazon becomes top clothing retailer in U.S.
Amazon overtook Walmart to become the top apparel and footwear retailer in the U.S. last year, as online sales jumped during the Covid-19 pandemic, according to research from the American bank Wells Fargo. The e-commerce giant’s apparel and footwear sales in the U.S. grew by about 15 percent in 2020 ...
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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 reached ...
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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 million financing round for ...
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Article
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 from nearly ...
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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) increase by 42.8 ...
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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 by March 12. ...
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News briefs
A new trade body in the U.K. to support digital retail
Six major U.K.-based e-tailers – Asos, Boohoo, Gymshark, the Ocado Group, AO World and The Hut Group (THG) – have launched the UK Digital Business Association (UKDBA), a new trade body to support the fast-growing e-commerce sector. The new association will back the digital commerce sector while also supporting brick-and-mortar ...
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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 foreign online marketplaces, ...
