All E-Commerce & DTC articles – Page 6
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StockX breaks records in 2022, reveals most traded sneakers
In a new report, Detroit-based resale platform StockX details the top-traded and fastest-growing brands on its platform over the last year. StockX’s annual report – Big Facts: Current Culture Index 2023 – notes that the company surpassed 1.5 million lifetime sellers, 12 million lifetime buyers and 40 million lifetime trades ...
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ArticleHotter Shoes’ parent issues profits warning after ‘disappointing’ H2
Unbound Group, the British company that owns Hotter Shoes, has issued a profits warning and said it would review operations after a weaker second half. The company, which focuses on the over 55-year-old customer demographic, expects to report an adjusted pre-tax loss for the year to Feb. 5 of £4.25-4.75 ...
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YNAP fined €5.25m in Italy for alleged misleading pricing, limiting returns
Italy’s antitrust authority has fined Yoox Net-a-Porter (YNAP) €5.25 million for allegedly misleading prices and limiting the right to return merchandise during a period running from 2019 to 2022. In particular, the regulator claims that the company limited consumers’ right to return merchandise by unilaterally blocking completed online orders, without ...
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ArticleChinese brands eye the Russian market
Numerous Chinese brands plan to enter the Russian market, eyeing the empty space left by Western companies, the Russian newspaper Izvestia reported, citing sources in the Russian Union of Shopping Centers. At the end of 2022, Chinese companies already accounted for 15 to 20 percent of the shopping floor in ...
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Amazon to close 3 U.K. warehouses
Amazon plans to shut down three warehouses in the U.K. as part of a restructuring of its logistics business in the country. The closure of the warehouses located in Hemel Hampstead, Doncaster and Gourock will impact 1,200 jobs, but people will be given the possibility to transfer to other units. ...
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Meta not allowed to use personal data for advertising
Facebook owner Meta will no longer be allowed to use the personal data of its users in Europe for advertising personalization without being asked. This was the decision of the responsible Irish data protection authority DPC. At the same time, the authority imposed a fine of €390 million. According to ...
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Re:store acquires fashion and lifestyle marketplace Trouva
Trouva, a London-based online marketplace focused on showcasing independent boutiques and brands focused on homewares, fashion and lifestyle, has been acquired by Cambridge-based startup Re:store from its previous owner, the clothing brand Next. Terms of the deal were not disclosed. In its press release, Trouva states that Re:store’s goal with ...
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Amazon to lay off 18,000 people
Amazon will lay off over 18,000 employees, with the majority focused on Amazon Stores and the People, Experience, and Technology (PXT) organizations, announced Andy Jassy, the company’s CEO. The U.S. online retailer plans to start talking to employees or representative bodies from Jan. 18. “Amazon has weathered uncertain and difficult ...
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ArticleEU court rules that Amazon may be liable for sale of counterfeit Louboutin shoes
Amazon has been dealt a blow after the Court of Justice of the European Union (CJEU) ruled that the U.S. online retailer may be liable for alleged intellectual property breaches by advertising counterfeit Louboutin shoes on its store. Two lower courts in Luxembourg and Belgium had referred a case ...
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Spartoo’s TooPost gains nearly 50 clients in 2022
Spartoo said that its TooPost service has gained nearly 50 clients in 2022. The service now has more than 165 e-merchants as customers. TooPost, which offers an end-to-end transport service, delivers more than 4 million packages every year, at least 98 percent of which are delivered within the specified time, ...
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Musk to step down as Twitter CEO when successor found
Elon Musk said he would step down as chief executive of the social media platform Twitter once he has found a replacement. The announcement follows a poll Musk launched on the platform that showed that users wanted him to resign. Musk has owned Twitter since Oct. 27 and has been ...
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ArticleAmazon, EU reach deal to end antitrust investigation
The European Commission said it has made commitments offered by Amazon legally binding under European Union antitrust rules, allowing to resolve competition concerns over the U.S. online retailer’s use of non-public marketplace seller data and possible bias in granting sellers access to its Buy Box and Prime program. In July ...
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Shein looks at becoming an online marketplace
Shein, one of the world’s largest online fashion retailers, is looking at becoming an online marketplace, according to The Wall Street Journal citing a memo to investors. The move would likely mean Shein becomes a direct competitor for existing e-commerce sites such as Alibaba, AliExpress and Amazon Marketplace, expanding beyond ...
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Saysh expands delivery service to Canada
Saysh, a U.S. community-focused lifestyle brand for women founded in the summer of 2021 by Olympian Allyson Felix and her brother Wes Felix, has expanded its delivery service to all Canadian provinces. Saysh, which can be found in select wholesale doors across North America, noted that the launch of its ...
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DX opens a warehouse in Plymouth
DX, a British provider of delivery solutions, including parcel freight and logistics services, announced the opening of a new depot in Plymouth, England, the fourth of eight depots currently expected to be opened by summer 2023. The new depot will be predominantly dedicated to the parcels activity, supporting growth of ...
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Farfetch sees 2025 GMV at $10.5bn
Farfetch expects its gross merchandise value (GMV) to rise to $10.50 billion from an estimated $4.05 billion in 2022 and a forecast $4.90 billion in 2023. The U.K. based fashion online retailer anticipates adjusted Ebitda margin to rise to 10 percent in 2025 from a negative 3-5 percent this year ...
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Alibaba launches new marketplace in Spain
Chinese e-commerce giant Alibaba launched a new marketplace called Miravia in Spain on Dec. 1. It connects brands and content creators with consumers. The platform offers fashion, beauty, food and lifestyle products. Earlier this year, Alibaba expanded its existing online marketplace Lazada to Europe, now Miravia was launched in addition. ...
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Boohoo enters the Indian market with Myntra
Boohoo is entering the Indian market through a partnership with the e-commerce platform Myntra. The British fast fashion group is launching the brands Boohoo, Dorothy Perkins and Nasty Gal on the Indian platform. The three brands will offer over 1,500 styles cross categories such as dresses, tops, bottoms and footwear. ...
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Newly launched SneakerCycle has over 33,000 pairs in stock
The recently launched U.S. resale platform SneakerCycle has more than 33,000 pairs in inventory. The average selling price of its shoes is $45. The business was created by Steven Salstein and Eric Mesa and has a 40,000 square foot warehouse in Miami. The two partners previously created GotSneakers which collects ...
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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 ...
