All E-Commerce & DTC articles – Page 8
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News briefs
Crocs launches virtual store with first 3D shoe customizer
Crocs has launched a new virtual store in partnership with 3D e-commerce platform Obsess. The Crocs Jibbitz Experience is “a virtual storytelling arena centered around self-expression, personalization, gamification and education.” It includes the brand’s first-ever 3D Jibbitz Customizer, a feature developed by Obsess to provide consumers with a mix-and-match tool ...
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ArticleShein is about to roll out its market place in Germany, Spain, France, Italy
Shein, the Singapore-based fast-fashion online retailer, announced that it is expanding its marketplace to Mexico, and that launches in Germany, Spain, France and Italy “will soon follow suit.” The marketplace was previously rolled out in Brazil and the U.S. Shein noted that the local marketplaces offer products from third parties ...
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News briefs
Frasers buys a stake in Boohoo
Regulatory filings showed that Frasers Group bought 63.5 million Boohoo shares, or 5 percent of the capital of the U.K. online fashion retailer. It also bought an 8.9 percent stake in Currys, a British retailer of domestic appliances and electronics. “We see potential synergies and an opportunity to strengthen ...
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ArticleAlibaba’s chairman and CEO resigns to focus on Alibaba Cloud
Daniel Zhang has unexpectedly resigned as chairman and CEO of Alibaba Group. He has served as CEO for the past eight years and as chairman for the past four years. The successors for the two vacant positions have already been determined: Joseph C. Tsai, currently executive vice chairman, will succeed ...
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ArticleWhite Mountain expands into footwear for girls
The U.S. footwear brand White Mountain is expanding into footwear for girls. The brand noted that following its acquisition by American Exchange Group in January 2023, it “has quickly ventured into several exciting and diverse product categories, marking a significant departure from their exclusive focus on women’s footwear for the ...
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ArticleAsos returns to profitability and Frasers Group lifts its stake
Asos, the struggling British online fashion retailer, returned to profitability in the third quarter and said its turnaround strategy was starting to bear fruit, prompting Frasers Group to lift its stake in the company to 10.6 percent. Adjusted Ebit rose more than £20 million (€23.3m) in the three months to ...
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News briefs
Rene Caovilla sees 2023 sales up at least 15%
The Italian luxury footwear maker Rene Caovilla expects sales to rise by at least 15 percent this year after growing about 50 percent in 2022. In an interview with the daily Corriere della Sera, the chairman and creative director, René Fernando Caovilla, who took over the company created by his ...
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ArticleM&S adds Skechers, Crocs and Toms to its online platform
The British retailer Marks & Spencer (M&S) is adding the footwear brands Skechers, Crocs and Toms to its Brands at M&S online platform as part of an effort to boost sales during the summer period. Richard Price, managing director of Clothing & Home at M&S noted that the retailer’s ”footwear ...
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News briefs
VF launches its largest distribution center
VF Corporation launched operations at its new distribution center in Ontario, California, employing approximately 550 people during peak periods. The new 1.2 million square foot facility is the largest and most efficient within the group’s global network of 46 distribution centers, according to VF. The facility has the capacity to ...
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News briefs
Asos suppliers reportedly cutting ties over credit insurance worries
Suppliers to Asos are reportedly cutting ties with the fast fashion retailer over credit insurance concerns. They are responding to insurers reducing or withdrawing trade credit insurance following a slide in earnings at the British online fashion retailer. Allianz Trade is understood to have withdrawn cover entirely, while Atradius has ...
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News briefs
German retail association cuts 2023 online sales forecast
HDE, the German retail association, has cut its online sales forecast as persistently high inflation has dampened consumer sentiment amid a continued reluctance to spend. For 2023, HDE has slashed its forecast to €89.4 billion, a nominal increase of 5.8 percent from the 2022 level. The previous forecast was ...
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ArticleAsos raises £80m by issuing shares
Asos raised about £80 million (€92.1m) of gross process by selling newly issued ordinary shares, but there is concern that the British online fashion retailer will need further cash to finance its restructuring. The shares were sold at 418.1 pence (€4.81) each. The proceeds will support the company’s Driving Change ...
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News briefs
Laced raises $12m in funding round
The U.K.-based sneaker resale platform Laced has secured $12 million in Series A funding and unveiled its new visual identity. The e-commerce site features the latest collections from several well-known brands, including Nike, Jordan, Adidas and New Balance. Founded in London in 2018, Laced facilitates the sale of sneakers between ...
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ArticleAlibaba misses revenue forecast but steps up investments
Alibaba reported that its revenues had missed the forecasts for its fourth quarter. The company is struggling to attract new users as the Chinese e-commerce market matures and new competitors chip away at market share. However, the Chinese e-commerce group released an update on its restructuring and plans to step ...
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News briefs
Asos may have to focus on cash preservation
Asos may have to focus on preserving its cash this year rather than investing to bolster growth, according to the U.S. bank Citi. It believes that the British online fashion retailer could suspend most of its capital expenditure in automation while continuing to rationalize its inventory position and controling ...
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Article
Online footwear sales in Germany continue to plummet in Q1
Online sales continued to drop in Germany in the first quarter of 2023 after a weak 2022, with the footwear sector again plummeting amid heightened uncertainty, a survey from the Federal association of e-commerce and mail order trade, BEVH, showed. E-commerce sales in Europe’s biggest economy dipped by 15.0 ...
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News briefs
THG ends talks to be bought by Apollo
THG has terminated talks to be taken over by the private equity Apollo Global Management. On April 17, THG announced that it had received “a highly preliminary and non-binding indicative proposal” from Apollo to acquire its entire share capital. Following the proposal, THG entered into a short period of discussion ...
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News briefs
Sneaker re-selling platform WeTheNew launches a €20m funding round
French-based limited-edition sneaker re-selling platform WeTheNew has announced a €20 million capital funding round. The Series B funding round was led by C4 Ventures, along with Singular, the company’s historical investor and the investment arm of Chalhoub Group, Chalhoub Ventures & Acquisitions. Also supporting the venture is French national team ...
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ArticleHotter Shoes’ parent in trouble as Marwyn drops £10m investment plan
Hotter Shoes’ owner Unbound Group has called in a turnaround specialist after a £10 million (€15m) funding deal collapsed amid a continuing deterioration in trading conditions. Last month, Marwyn Investment Management said it would provide the funding via an equity placing at 10.5 pence (12 euro cents) per share. However, ...
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ArticleAsos’ losses widen as shoppers cut back on spending
Asos reported wider interim losses as shoppers cut back on spending amid the cost of living crisis in the U.K. Financial analysts are divided on the company’s future prospects with one broker warning that the troubled company may have to raise more cash. In the first half ended Feb. 28, ...
