All E-Commerce & DTC articles – Page 21
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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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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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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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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, ...
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News briefs
Gap reportedly to close all British, Irish stores in July
The American fashion group Gap intends to close all of its stores in the U.K. and Ireland in July, in a move that could lead to the loss of hundreds of retail jobs, according to a report in The Times. Gap has 95 shops in the U.K. alone and is ...
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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 pandemic drove ...
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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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News briefs
Shop Pay expands to Facebook and Instagram in the U.S.
Shopify is expanding Shop Pay to all its U.S. merchants selling on Facebook and Instagram. With Shop Pay clients also get access to order tracking and carbon offsets from their deliveries. The Canadian e-commerce software company says that Shop Pay helped buyers complete more than 137 million orders in 2020, ...
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News briefs
Klarna launches bank account in Germany
Klarna, the Swedish online payments group, is launching consumer bank accounts in Germany. The launch marks a first for the company and will allow customers to track, categorize and analyze all of their everyday spending using the Klarna app. A Klarna bank account will come with a Visa debit card ...
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News briefs
Santoni launches online business in China
Santoni, the Italian brand of high-end shoes, has opened a store on Tmall Luxury Pavilion, the B2C marketplace of the Chinese group Alibaba, as part of a direct-to-consumer, digital-first strategy for the market. Along with its TMall launch on Feb. 1, Santoni also opened an account on WeChat, through which ...
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News briefsWomen’s sneakers are booming on StockX
StockX has released a report on the resale market’s evolution since the company’s founding, in February 2016. Men’s sneakers continue to dominate resales, but the resale of women’s sneakers has been growing at a faster rate, having multiplied by a factor of 1,500 since the start. StockX says it now ...
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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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News briefsZalando joins the Ellen MacArthur Foundation
Zalando has joined a circular economy network by becoming a member of the U.K.-based Ellen MacArthur Foundation. The German online retailer said that the collaboration is in line with its commitment to apply the principles of circularity and extend the life of at least 50 million fashion products by 2023. ...
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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 after Sky News revealed that talks were ongoing ...
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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 most ...
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Article
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 of ...
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News briefs
Google probed by the EU
Google is under dual investigations in the European Union for allegedly abusive practices in its advertising business. This month, according to Reuters, anti-trust regulators for the EU have sent to a number of advertisers a 13-page questionnaire regarding the “Include Google Display Network” default setting for search campaigns on Google ...
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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. The purchase does ...
