Fashion E Commerce – Mogo Theme http://mogotheme.com/ Fri, 13 May 2022 03:50:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://mogotheme.com/wp-content/uploads/2021/07/icon-4-150x150.png Fashion E Commerce – Mogo Theme http://mogotheme.com/ 32 32 Integrating the value chain through advanced technological solutions, presented at Texprocess 2022 https://mogotheme.com/integrating-the-value-chain-through-advanced-technological-solutions-presented-at-texprocess-2022/ Thu, 12 May 2022 22:26:09 +0000 https://mogotheme.com/integrating-the-value-chain-through-advanced-technological-solutions-presented-at-texprocess-2022/ Lectra’s solid track record pushes the boundaries of success for brands, retailers and manufacturers New York, USA, May 2022 – A leader in the fashion, automotive and furniture markets, Lectra takes into account the drastic change in the pace of consumer purchases in sectors such as fashion, furniture, technical textiles and interiors transport. More than […]]]>

Lectra’s solid track record pushes the boundaries of success for brands, retailers and manufacturers

New York, USA, May 2022 A leader in the fashion, automotive and furniture markets, Lectra takes into account the drastic change in the pace of consumer purchases in sectors such as fashion, furniture, technical textiles and interiors transport. More than ever, consumers expect quality products with fast turnaround times and an extra touch of customization.

This month at the Texprocess show in Atlanta, Georgia, in booth #1347, Lectra will be showcasing its industry-leading 2D/3D design and manufacturing AI analytics solutions to support manufacturing processes. mass and made to measure on demand. Lectra will demonstrate how digitalization and Industry 4.0 can help brands, retailers and manufacturers integrate their value stream to meet consumer demands, whether they manufacture products on demand or in mass production. These solutions save businesses time and money and reduce overall waste. Lectra will also host an exclusive open house at its IATC (International Advanced Technology Center) where they will demonstrate a comprehensive experience of their latest technology solutions.

Lectra is a pioneer in the entire manufacturing process by offering its customers a complete suite of cutting-edge solutions that increase creativity, productivity and efficiency. They will share their best technologies since becoming Stronger Together. Lectra has a solid track record for Lectra and Gerber solutions and will unveil its strategy at Texprocess.

“The textile and apparel industries in North America have seen unprecedented change in recent months; the pandemic, unseen logistics and supply chain disruptions while shifting from producing seasonal collections to new, more direct-to-consumer and ongoing production models. To survive and thrive, only those moving to a digitized process can maintain their margin and collaborate virtually and efficiently to anticipate what needs to be produced, how and at what cost. During Texprocess, Lectra will discuss its strategy and solid roadmap aimed at supporting and helping the industry make a successful transition and reach new heights of success for its consumers. explains Ketty Pillet, Vice-President, Marketing.

Lectra will present a unique digital experience featuring the industry-leading integrated Industry 4.0 solution that will take you from market analysis, based on the most powerful AI solution on the market, to CAD design 2D/3D and plan up to pre-production. . They will showcase a number of their integrated technologies, including the latest versions of Retviews, YuniquePLM® product lifecycle management software, and AccuMark® and Modaris interoperability.

In addition to their stand, Lectra will also be celebrating their New Product Sneak Peek award win for their Retviews product. Over the past few years, there has been a dramatic shift towards e-commerce, social media and even direct selling, causing brands, retailers and manufacturers to rethink the way they sell, grow and manufacture their collections directly. -consumer approach. Retviews, from Lectra, analyzes the market with the information needed to ensure that the right products are brought to market, at the right time and at the right cost. The platform monitors over 5,000 brands worldwide in real time, curating the data on the Retviews platform allowing users to easily filter as they wish and visualize it through easy to digest reports. The ultimate AI-powered solution for all market players from retailers, wholesalers, manufacturers and even marketplaces.

About Lectra:

A major player in the fashion, automotive and furniture markets, Lectra contributes to the Industry 4.0 revolution with boldness and passion by providing the best technologies.

The group offers industrial intelligence solutions – software, equipment, data and services – that facilitate the digital transformation of the companies it serves. In doing so, Lectra helps its customers push the boundaries and unleash their potential. The group is proud to say that its 2,400 employees are driven by three fundamental values: to be open-minded thinkers, trusted partners and passionate innovators.

Founded in 1973, Lectra achieved sales of 388 million euros in 2021 and is listed on Euronext (LSS).

For more information, visit lectra.com.

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Flipkart India signs ToU with Aarunya in Telangana https://mogotheme.com/flipkart-india-signs-tou-with-aarunya-in-telangana/ Wed, 11 May 2022 10:45:59 +0000 https://mogotheme.com/flipkart-india-signs-tou-with-aarunya-in-telangana/ Flipkart has announced a partnership through Terms of Agreement (ToU) with Aarunya to onboard female artisans, weavers, artisans and help promote and grow their products across India through the e-commerce platform. This effort will be led by Flipkart Samarth, which empowers rural communities by enabling access to the national market. The ToU was signed in […]]]>
Flipkart has announced a partnership through Terms of Agreement (ToU) with Aarunya to onboard female artisans, weavers, artisans and help promote and grow their products across India through the e-commerce platform. This effort will be led by Flipkart Samarth, which empowers rural communities by enabling access to the national market.

The ToU was signed in the presence of KT Rama Rao, Minister of IT, Industries, Municipal Administration and Urban Development of Telangana. Speaking of partnership, KT Rama Rao said, “We are focused on deepening our commitments to MSMEs in the state and helping them grow. The partnership with Flipkart Samarth provides an excellent platform for capacity building, improving and impacting rural livelihoods, especially for women. These partnerships will be instrumental in the commercial and social development of the state by creating inclusive growth. »

Flipkart has announced a partnership through Terms of Agreement (ToU) with Aarunya to onboard female artisans, weavers, artisans and help promote and grow their products across India through the e-commerce platform. This effort will be led by Flipkart Samarth, which empowers rural communities by enabling access to the national market.

“We are delighted to partner with Telangana and Aarunya – a project that helps women gain financial independence by providing them with various skills training programs and a platform to gain pan-India market access for their handicrafts and handicrafts and the products of other artisans and weavers in the state of Telangana. As a local business, our deeper engagement with local Indian businesses and MSMEs has allowed us to better understand their challenges and needs and help them become successful. With this partnership, we aim to uplift and empower women-led businesses in their growth ambition in Telangana,” Rajneesh Kumar SVP and General Affairs Manager Flipkart Groupmentioned.

Aarunya, the brand name of famous Narayanpet looms and handicrafts, is a project launched amid COVID-19 to help local women sell their specialty products. The project, which started with a team of 10 women, is now running a full-fledged campaign to train other women in making Kalamkari and Black Paintings. Aarunya obtained funding from NABARD to organize these training sessions.

This partnership between Flipkart and Aarunya will enable local artisans and artisans in the region to market their signature products such as Kalankari, black paints, fig jam and clay jewelry to millions of customers across India and the will help achieve financial independence. Flipkart Samarth is a national initiative that aims to help communities of skilled artisans build their business in the Flipkart marketplace in an efficient, transparent and profitable manner. The program was launched in 2019 as a sustainable and inclusive platform that gives underserved Indigenous communities and businesses new opportunities for growth and better livelihoods.

Fibre2Fashion (RR) Press Office

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Net-a-Porter steps up efforts to win over China https://mogotheme.com/net-a-porter-steps-up-efforts-to-win-over-china/ Mon, 09 May 2022 16:58:49 +0000 https://mogotheme.com/net-a-porter-steps-up-efforts-to-win-over-china/ What happened: On May 4, Net-a-Porter, the luxury e-commerce platform, announced that Chinese model Liu Wen, who has 26.1 million Weibo followers and works with Chanel, Gucci and Tods, is now its ambassador to China. In an interview with Daily Jing, Net-a-Porter said, “Liu Wen is a perfect fit with Net-a-Porter’s philosophy. And this collaboration […]]]>

What happened: On May 4, Net-a-Porter, the luxury e-commerce platform, announced that Chinese model Liu Wen, who has 26.1 million Weibo followers and works with Chanel, Gucci and Tods, is now its ambassador to China. In an interview with Daily Jing, Net-a-Porter said, “Liu Wen is a perfect fit with Net-a-Porter’s philosophy. And this collaboration is a demonstration of Net-a-Porter’s commitment to representing the power of women’s diversity.

At the same time, the site unveiled its new Chinese name, “Po Te” (“颇特”) – individually the characters mean “many” and “special”. Net-a-Porter has also partnered with Tmall Digital Collectibles to launch its Net-a-Porter “Infinite New Possibility” galaxy project. The initiative allows 6,000 participants to creatively create their own Net-a-Porter galaxy NFTs; already invited are Liu Wen, as well as four local designers Samuel Gui Yang, Windowsen, Rui and Shushu/Tong.

Net-a-Porter’s new China ambassador, former Victoria’s Secret angel Liu Wen. Photo: Net-A-Porter’s Weibo

The Jing plug: Here, Net-a-Porter bets on an undisputed star. As a world-renowned model and style icon, the former Victoria’s Secret angel has earned a solid reputation in China’s high-end fashion market. Her looks are often copied by local shoppers and sell out quickly in stores. It could also provide targeted traffic to Net-a-Porter from affluent fashionistas who aren’t afraid to try new designer brands.

With data showing that the traditional offline luxury retail landscape could change dramatically over the next few years, Net-a-Porter will need all the help it can get. Last month the China Luxury Digital Report 2021 published by Yaok Research Institute pointed out that in 2022, online sales are expected to exceed $34.6 billion (RMB 220 billion), which means that they will account for more than 30% of total luxury goods sales in China.

Undoubtedly, the opportunities will increase for digital players like Net-a-Porter, but so will the competition. From Farfetch to SSENSE, which has been in the mainland market for over half a decade, and LUISAVIAROMA, with over a decade of experience in the country, three-year-old Net-a-Porter is still relatively new to China.

As such, entering the Metaverse could be another stealth move. As the first international luxury e-tailer to pioneer the nascent Chinese metaverse space, it has the advantage of being the first to capitalize on native Web3 local consumers and turn them into loyal customers. This move will undoubtedly usher in a new era for multi-brand e-tailers and unlock new ways of working with brands, further reshaping the retail game.

If executed well, Net-a-Porter could carve out a share of the Chinese market $8 trillion Web3 market for itself and finally achieve profitability. Given this, Net-a-Porter would be smart to run with this opportunity before other rivals join this potentially lucrative space.

The Jing Plug reports on major news and presents our editorial team’s analysis of the main implications for the luxury industry. In the recurring column, we analyze everything from product declines and mergers to heated debates popping up on Chinese social media.

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Germany’s Adidas Reports Double-Digit Growth in Western Markets in Q1FY22 https://mogotheme.com/germanys-adidas-reports-double-digit-growth-in-western-markets-in-q1fy22/ Fri, 06 May 2022 12:02:05 +0000 https://mogotheme.com/germanys-adidas-reports-double-digit-growth-in-western-markets-in-q1fy22/ Adidas saw strong demand in all Western markets, supply chain constraints following last year’s lockdowns in Vietnam reduced revenue growth by around 400 million euros in first quarter of 2022. In addition, the challenging environment and the COVID-19 related lockdowns in Greater China and Asia-Pacific continued to weigh on revenue development. DTC revenue grew 1% […]]]>
Adidas saw strong demand in all Western markets, supply chain constraints following last year’s lockdowns in Vietnam reduced revenue growth by around 400 million euros in first quarter of 2022. In addition, the challenging environment and the COVID-19 related lockdowns in Greater China and Asia-Pacific continued to weigh on revenue development.

DTC revenue grew 1% year over year, a 33% increase over 2020 level. While Adidas e-commerce revenue saw a double-digit increase in full-price sales, revenue from the company’s own digital channel increased 2% in the quarter, reflecting exceptionally strong growth in the prior year period. Compared to the 2020 level, e-commerce revenues increased by 50% in the first quarter.

Adidas saw strong demand in all Western markets, supply chain constraints following last year’s lockdowns in Vietnam reduced revenue growth by around 400 million euros in first quarter of 2022. In addition, the challenging environment and the COVID-19 related lockdowns in Greater China and Asia-Pacific continued to weigh on revenue development.

The company’s first-quarter gross margin decreased 1.9 percentage points to 49.9%. This decrease is mainly due to a significant increase in supply and transportation costs. In addition, the negative impact of a less favorable market mix as well as the difficult comparables of the previous year in e-com weighed on the evolution of the gross margin. These effects could not be offset by the positive impact of a significantly higher share of full-price sales as well as early selective price increases, primarily on DTC proprietary products, the company said in a statement.

“In the first quarter, consumer demand for our brand and products was strong in all Western markets. Our combined sales in North America, EMEA and Latin America grew at a double-digit rate. Supported by an exceptionally strong wholesale order book and a continued focus on growing our own DTC channels, we expect this positive development to continue for the remainder of the year,” said Kasper Rorsted, CEO of Adidas. “In the East, we will return to growth in Asia-Pacific in the second quarter, while we expect the challenging market environment in Greater China to continue. With strong double-digit growth in the vast majority of our markets, representing over 80% of our business, we are well positioned for success in 2022.”

Although several external factors continue to weigh on industry-wide demand and supply, Adidas confirms its 2022 revenue and earnings outlook. While the company continues to expect While currency-neutral earnings are growing at a rate between 11% and 13% percent, growth is now expected to be at the lower end of this range due to the severe impact of the COVID-19-related lockdowns in China. As a result, net income from continuing operations is also expected to reach the lower end of the previously disclosed range of between €1.8 billion and €1.9 billion.

Due to less favorable market mix due to below-expected revenues in Greater China, the company’s gross margin is now expected to be around the prior-year level of 50.7% in 2022. While Adidas will continue to invest in the brand, its products as well as DTC and digital to support double-digit growth in all other markets in 2022 and long-term market share gains worldwide, the company also expects that its operating margin is around the previous year’s level of 9.4 percent. hundred.

Fibre2Fashion (RR) Press Office

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Citymall: Bringing e-commerce to the masses in Bharat https://mogotheme.com/citymall-bringing-e-commerce-to-the-masses-in-bharat/ Tue, 03 May 2022 20:00:00 +0000 https://mogotheme.com/citymall-bringing-e-commerce-to-the-masses-in-bharat/ Internet penetration in India has grown rapidly over the past five years, with more than 600 million Indians now having data on their phones. More than 80% of this user base is on social media and content sharing platforms, but less than 15% is enjoying the benefits of e-commerce. This is despite the efforts of […]]]>

Internet penetration in India has grown rapidly over the past five years, with more than 600 million Indians now having data on their phones. More than 80% of this user base is on social media and content sharing platforms, but less than 15% is enjoying the benefits of e-commerce. This is despite the efforts of various direct-to-customer e-commerce platforms to get people from Tier 2/3/4 cities to transact online. “Two major challenges have limited the adoption of e-commerce beyond major cities: small ticket sizes and the need for support and trust,” says Angad Kikla, co-founder of CityMall, a social commerce company that seeks to create India’s largest virtual store chain on WhatsApp.

CityMall’s community commerce model claims to solve the two aforementioned problems. “Our network of Community Leaders (CLs) act as demand aggregation points, supply chain partners and the front end of CityMall’s engagement with its end-user base. CLs have good social capital, and the fact that they are part of the same community as customers helps new users to trust the platform,” he notes.

According to his assessment, the average purchase ticket size in small cities (~Rs 300) is one-third that of metros and Tier 1 cities, making a D2C supply chain impractical for these geographies. “Home delivery for such transaction sizes makes the supply chain unsustainable, requiring demand aggregation to reduce logistics costs.” Also, customers in these locations are used to buying from neighborhood kirana stores and local bazaars, and it requires a significant amount of guidance, support, and confidence building to get them to transact. online, he adds.

In two and a half years, CityMall has created a network of over 25,000 CLs in 25 city centers across Haryana, NCR & UP. It grew 30% mom over the past 18 months and entered categories such as groceries, FMCG, fashion and general merchandise. “One in three households have purchased from CityMall in cities where we started operations earlier, and in newer cities we are seeing faster acceptance,” Kikla says.

CityMall has raised a total of around $110 million, with its recent Series C being led by Norwest Venture Partners. “Our last three cycles have materialized over 15 months, cementing our belief that community commerce is the way to bring Bharat to e-commerce,” he says. “We are backed by some of the world’s largest institutional investors, including General Catalyst, Citius, Jungle Ventures, Arena Ventures, Elevation, Accel & Waterbridge.”

With the money it raised, CityMall plans to expand to 100 cities and towns over the next 18 months, strengthen its management team, enter new categories and invest in technology. point. “We plan to hire 400 people in the next 15 months.” Regarding future prospects, Kikla says, “We have barely scratched the surface of the e-commerce market in Bharat. The future looks extremely bright as we seek to penetrate deeper into North India and extend our reach to the Western Belt. Our CL network allows us to respond effectively to the needs of our end users. We are well on our way to becoming the biggest e-commerce platform in Bharat. »

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Another Zilingo female leader faces the axe. PR-POSH chief says council is spreading lies https://mogotheme.com/another-zilingo-female-leader-faces-the-axe-pr-posh-chief-says-council-is-spreading-lies/ Sun, 01 May 2022 18:31:00 +0000 https://mogotheme.com/another-zilingo-female-leader-faces-the-axe-pr-posh-chief-says-council-is-spreading-lies/ (Left to right) Naushaba Salahuddin, Director, Global Public Relations and Communications, Zilingo; Ankiti Bose, Co-Founder and CEO, Zilingo Synopsis The fault lines in Zilingo are becoming more visible as another top leader has been suspended. Amid Sequoia Capital’s overbreadth allegations, investigations continue. Internal unrest at B2B fashion e-commerce company Zilingo has deepened as Naushaba Salahuddin, […]]]>

(Left to right) Naushaba Salahuddin, Director, Global Public Relations and Communications, Zilingo; Ankiti Bose, Co-Founder and CEO, Zilingo

Synopsis

The fault lines in Zilingo are becoming more visible as another top leader has been suspended. Amid Sequoia Capital’s overbreadth allegations, investigations continue.

Internal unrest at B2B fashion e-commerce company Zilingo has deepened as Naushaba Salahuddin, who heads communications and heads the Sexual Harassment Prevention Committee (POSH), was abruptly suspended. She is the second female leader to be kicked out of the company in recent times after co-founder and CEO Ankiti Bose. Salahuddin was also denied access to his email and other work communications

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E-commerce increases with more people shopping online ahead of Eid https://mogotheme.com/e-commerce-increases-with-more-people-shopping-online-ahead-of-eid/ Sat, 30 Apr 2022 05:54:00 +0000 https://mogotheme.com/e-commerce-increases-with-more-people-shopping-online-ahead-of-eid/ Customer in one of the souks. Photo: Salim Matramkot / The Peninsula Doha: The COVID-19 pandemic has changed the way people shop, and more and more people are now buying products online. In a recent survey by The Peninsula, 74.5% of 50 respondents said they would rather shop online than go to stores, especially as […]]]>

Customer in one of the souks. Photo: Salim Matramkot / The Peninsula

Doha: The COVID-19 pandemic has changed the way people shop, and more and more people are now buying products online.

In a recent survey by The Peninsula, 74.5% of 50 respondents said they would rather shop online than go to stores, especially as special Eid discounts begin. .

Holiday promotions can be seen everywhere at the end of the holy month of Ramadan, encouraging shoppers to take advantage of discounts. According to the survey, the number one reason people prefer online shopping is its convenience with 74.5%, followed by the lack of crowds with 63.8%, and the third is the lack of selling pressure. and ease of payment with 40.4% each.

Expatriates from different countries participated in the survey.

Fashion-related products topped the list of most popular online shopping categories with 76%, followed by shoes and electronics with 10% each, and furniture with 4%.

According to the latest data from Statistica in 2020, the global average of consumers shopping online is 85%, and the top regions are South America and Asia with 86% each.

Meanwhile, a 2017 KPMG Global Online Consumer Report indicates that consumers in Africa and the Middle East are more likely to buy household goods online, with the exception of Emirates consumers who are more likely to buy telecommunications products and men’s shoes.

Founder and clinical director of mental health clinic Flourishing Minds, Tina Balachandran, said many factors affect consumer behavior online.

“Research supports that online purchase intent is influenced by a) shoppers’ attitude and belief that it would improve their shopping efficiency, b) opinion on the use of online shopping by friends, colleagues, and other influencers, c) consumers’ perception of the availability of needed resources and online shopping opportunities, d) the usefulness it brings, and e) trust in the website retail or online shopping platform,” she explained.

She said consumers are motivated to shop online because it provides convenience.

“It provides convenience, opportunities to compare prices, save time. There is better potential to read product reviews before making a purchase, and crowded places can be avoided.

She added: “When we buy online, there is a certain level of unpredictability and anticipation — of not knowing when we will receive the package, of tracking the order and waiting for it to arrive. This simple event of anticipation and delayed gratification (delaying an early initial reward for greater reward in the future – and in the case of online shopping this is anticipatory reward) with the eventual possibility of a reward (the delivery of online shopping) releases dopamine – the feel-good neurotransmitter in your brain.

Roger Trinidad, a survey participant, said he preferred in-store shopping to online shopping. “Call me an old type of person but I’m more into traditional shopping, I like to see and feel the material of any product I want to buy, especially clothes and shoes.”

Vanessa Macion Mortillo, who has been hopping online for four years, said: “It saves time and you can do it anywhere. You don’t need to wait and pay. With one click, I can pay easily and avoid the crowds of shopping in stores. »

The survey also showed that 90% of participants used their mobile phone to shop online, while 10% said they used a computer.

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Lanvin Group uses Shopify for e-commerce technology in North America https://mogotheme.com/lanvin-group-uses-shopify-for-e-commerce-technology-in-north-america/ Thu, 28 Apr 2022 15:49:07 +0000 https://mogotheme.com/lanvin-group-uses-shopify-for-e-commerce-technology-in-north-america/ Listen to the article 2 minutes This audio is generated automatically. Please let us know if you have any comments. Diving Brief: Following its recent rebranding, the Lanvin Group is joining forces with Shopify to create a new e-commerce platform in North America, the luxury fashion company announced Wednesday. Lanvin Group, which owns Lanvin, Sergio […]]]>

This audio is generated automatically. Please let us know if you have any comments.

Diving Brief:

  • Following its recent rebranding, the Lanvin Group is joining forces with Shopify to create a new e-commerce platform in North America, the luxury fashion company announced Wednesday.
  • Lanvin Group, which owns Lanvin, Sergio Rossi, Wolford, St. John Knits and Caruso, said it will use Shopify’s technology to streamline its e-commerce operations as it expands into new categories and markets. international.
  • The company said it chose Shopify to use its technology on Lanvin Group’s existing and newly acquired luxury brands while retaining each brand’s databases and interfaces.

Overview of the dive:

The collaboration between Lanvin Group and Shopify is part of the fashion company’s efforts to improve its customer experience and provide enhanced, localized omnichannel shopping services, the company said.

“The launch of our new Shopify-powered platform demonstrates our differentiated strategy to drive high growth by leveraging the latest technologies, working with the best partners, and speaking to the consumers of tomorrow,” Joann Cheng, CEO and Chairman of Lanvin Group, said in a statement. “With the enhanced e-commerce capabilities brought by Shopify, the Lanvin Group is now even better equipped to seize the significant growth opportunities we have identified in North America, the world’s largest luxury market.”

The past six months have been a time of change for the luxury retailer. In addition to its recent partnership with Shopify, the company announced in fall 2021 that it had formed Lanvin Group, a change from its former name, Fosun Fashion Group. As part of its new brand identity, the company also changed its logo and launched a group website. Last month, the company announced plans to go public via a SPAC merger with Primavera Capital Acquisition Corporation and trades under the symbol LANV on the New York Stock Exchange. The move is expected to generate up to $544 million, which will be used to accelerate the company’s brand portfolio and fund acquisitions.

As the Lanvin Group aims for international growth, Shopify has benefited from the surge in e-commerce spending caused by the COVID-19 pandemic. Last year, the e-commerce platform saw $1.1 billion in merchant revenue in the second quarter alone. In 2021, the company brought $4.6 billion in total revenue, up 57% year over year. He also added ICT Tac and Google as partners last year, expanding its reach.

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Estonian startup Upty acquires Finnish counterpart Rekki; plans to open the seed cycle https://mogotheme.com/estonian-startup-upty-acquires-finnish-counterpart-rekki-plans-to-open-the-seed-cycle/ Mon, 25 Apr 2022 07:48:04 +0000 https://mogotheme.com/estonian-startup-upty-acquires-finnish-counterpart-rekki-plans-to-open-the-seed-cycle/ Image credits: Upty Untila re-commerce platform based in Tallinn, announced on Monday that it had acquired its Finnish competitor Rekki in a cash and stock transaction. The Estonian company also plans to launch a fundraiser in the coming months to accelerate its expansion in Europe. Salesforce report on the digital skills of the Dutch workforce […]]]>

Untila re-commerce platform based in Tallinn, announced on Monday that it had acquired its Finnish competitor Rekki in a cash and stock transaction.

The Estonian company also plans to launch a fundraiser in the coming months to accelerate its expansion in Europe.

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The current acquisition will allow sellers and buyers who wish to participate in the resale of eco-friendly fashion to benefit from more choice. According to Upty, the acquisition comes at a good time as the Extended Producer Responsibility (EPR) scheme is expected to come into effect by 2024.

According to the scheme, European waste collection companies will not be allowed to unload clothes collected from the fields. Upty says it’s aligned with broader consumer and government trends around reuse, recycling and reducing textile waste.

After the acquisition, the Upty Group plans to expand into Germany by the end of the year and into Poland, the Czech Republic, the Netherlands and Sweden over the next two years.

Rekki: What you need to know

Based in Tampere, Finland, Rekki is an online marketplace for consumers who want to dispose of their clothes and accessories in the easiest and most responsible way possible.

Founded by Bertta Häkkinen and Tero Ylönen, the platform offers an alternative for people who want to consume sustainably and value branded clothing, whether new or used.

Tero Ylönen, CEO of Rekki, said, “Rekki is thrilled to partner with Upty. The group has exciting and ambitious plans for the future, and we look forward to contributing to the development of circular fashion across Europe as we expand our reach.

Upty: What you need to know

Dmitri Nogin founded Upty in 2020 to reduce consumption and the environmental impact of everyday social life. The company’s platform allows consumers to declutter their closets while allowing them to purchase like-new items at a discount of up to 90%.

Upty CEO Sergei Brek said, “Adding a well-established e-commerce player like Rekki to a fast-growing Upty platform marks the creation of a serious player in the circular economy, not only in the geographies where we currently operate, but across Europe as eco-friendly fashion practices continue to gain market traction.

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A cloudy outlook for fashion https://mogotheme.com/a-cloudy-outlook-for-fashion/ Fri, 22 Apr 2022 14:28:22 +0000 https://mogotheme.com/a-cloudy-outlook-for-fashion/ Masks are lifted in America, flights are full and the global economy is doomed. It’s a helpful summary of this week’s news, if a little offhand. On April 19, a US federal judge struck down the Biden administration’s mask mandate for trains and planes, leading airlines to drop their requirements, sometimes mid-flight. Excited passengers tossing […]]]>

Masks are lifted in America, flights are full and the global economy is doomed.

It’s a helpful summary of this week’s news, if a little offhand. On April 19, a US federal judge struck down the Biden administration’s mask mandate for trains and planes, leading airlines to drop their requirements, sometimes mid-flight. Excited passengers tossing their masks into trash bags held by smiling flight attendants created one of the pandemic’s clearest “back to normal” moments (the images on social media of Coachella, maskless in view, could be a close second. )

Speaking of flights, airport counters and security lines were overwhelmed with travelers over the Easter weekend, signaling the start of what is expected to be a busy summer holiday season. American Airlines said this week it set a monthly sales record in March. The long-awaited rebound in tourism finally seems to have begun.

The exception – and it’s a big one – is China, where much of the country remains under lockdown. The measures taken by the government to contain its worst Covid-19 outbreak in two years have dominated discussions of the financial results of some of the biggest names in luxury, including LVMH and Prada. Kering this week reported disappointing sales from Gucci, which is more dependent on China than many of its rivals, sending its shares tumbling 4% on Friday.

Meanwhile, the International Monetary Fund (IMF) cut its global growth forecast to 3.6% from 4.4% in a previous outlook. The IMF cited the war in Ukraine for the sharp reduction, noting that Russia’s invasion had driven up the cost of oil, gas, wheat and other essentials. The World Bank said Covid-19 lockdowns in China posed another threat to the global economy and could drive up inflation, which has already hit a 40-year high in the United States.

Brands seem more focused on masks removed, full flight news this week than on the darkening economic picture. Earlier this week, Kering and Prada said surging sales in the United States and Europe outweighed concerns about the impact of shutdowns in China. Lululemon outlined its strategy to double sales by 2026. On Thursday, LVMH CEO Bernard Arnault summed it up most succinctly by assessing how 2022 is going: “So far so good. good”.

It’s not the rhetoric of companies that think they’re looking at an impending recession.

The sunny outlook is partly down to bravado: Stores are packed, profit margins are rising and sales are at record highs. Why is it raining on this parade?

At the same time, many companies – including some of those named above – are quietly preparing for the inevitable downturn, whether it happens next month, next year or later. Investors certainly are: despite strong selling, shares of virtually every fashion company are down from the highs they hit late last year, in many cases sharply.

These companies may also be reluctant to discuss the uncertain future because there are no easy answers. Preparing for economic turbulence is tricky, as recent industry experience shows. Many brands were overly cautious at the start of the pandemic and did not order enough inventory to meet high demand last year. In the wake of the IMF report and similar cautionary notes from the US Federal Reserve, they could make the opposite mistake, ordering too much to serve customers who aren’t sure they’ll show up. But if the economists are wrong, we will return to shortages and missed opportunities.

Many luxury brands are reacting to the uncertainty around China – which predates the last Covid outbreak – by investing more in America. This has proven to be a successful strategy so far, although, as Bernstein’s Luca Solca notes, “the situation in China is much worse compared to the summer 2021 shutdowns.” And the US economy is likely to slow as the Fed brings inflation down.

The best way to prepare, as BoF’s Cathaleen Chen reported earlier this week, is to tackle the most pressing issue of the moment: inflation. By switching to higher-margin materials, buying in bulk, and taking other steps to operate at maximum efficiency, companies will lessen the effects of rising costs and, therefore, ride into any future downturns with their balance sheets in the best possible form.

In a broader sense, brands have been preparing for the next recession since the start of 2020. This can be seen in Calvin Klein’s emphasis on differentiated and coveted products that it can sell at full price, Ralph Lauren’s brand elevation strategy or the smart new strategy of luxury brands. non-price channel approach.

All of these efforts are aimed at creating a strong brand that customers will consider an essential purchase even if their personal financial situation deteriorates, and having a strong brand is the best way to protect a business against recession.

NEWS IN BRIEF

FASHION, BUSINESS AND ECONOMY

Gucci’s sales missed estimates as lockdowns in China weigh. The Italian brand – the engine of Kering’s profits and sales – missed its first-quarter revenue targets as Parisian teammate Saint Laurent surged. Gucci’s sales rose about 13%, while analysts had predicted a gain of almost 19%.

Prada CEO says strong first four months despite Russia and China. Patrizio Bertelli said the Milan-based, Hong Kong-listed house has no plans to revise its targets, while it may consider a dual listing on the Milan Stock Exchange in the future, according to an interview with Corriere della Serathe weekly insert of The Economy.

China will sign treaties on forced labor as control of Xinjiang intensifies. The country is set to ratify two international treaties amid criticism over its treatment of the Uyghur ethnic minority, which has hampered trade relations with the United States and Europe.

China’s Q1 GDP beats expectations, March retail sales fall. China’s National Bureau of Statistics (NBS) said the country’s gross domestic product (GDP) rose 4.8%, beating analysts polled by Reuters, who had expected a 4.4% gain.

Lululemon aims to double its sales by 2026. The sportswear retailer has unveiled a new five-year plan with a goal of doubling sales to $12.5 billion. Lululemon aims to double the revenue it derives from men’s products and its digital channels, while quadrupling international sales from 2021 levels, the company said in a statement.

L Catterton is considering the sale of jeweler John Hardy. The buyout firm focused on consumer brands is seeking about $200 million for the business it bought in 2014, people familiar with the matter said. Bloomberg.

Reliance Brands takes majority stake in Abu Jani Sandeep Khosla. Reliance Brands Limited (RBL) will take a 51% stake in the 35-year-old designer brand, loved by Bollywood stars and billionaires, for an undisclosed sum.

Mango signs a green loan agreement. The street retailer refinanced its debt and secured a 200 million euro ($216 million) loan managed by CaixaBank, the cost of which will decrease if it meets sustainability milestones by 2025.

François Pinault is preparing to buy a music streaming platform. Billionaire Kering founder Francois Pinault and fellow founders of a blank check company are buying Deezer in a deal valued at more than $1 billion.

THE BEAUTY BUSINESS

Fenty Beauty campaign.

LVMH Beauty partners with a sustainable packaging company. The conglomerate’s beauty arm has formed a partnership with Origin Materials Inc., a California-based company that focuses on creating packaging and materials with a minimal carbon footprint.

L’Oréal’s first-quarter sales rise on demand for high-end beauty products. Cosmetics group L’Oreal beat first-quarter sales growth expectations on Tuesday, dismissing concerns about lockdowns in China and inflation.

Olivia Rodrigo signs with Glossier for her first celebrity contract. The teenage pop star has signed a long-term deal to collaborate with the struggling direct-to-consumer beauty brand.

The Korean personal care giant is acquiring The Crème Shop in a $120 million deal. LG Household and Health Care will take a 65% majority stake in the beauty company for about 148.5 billion won ($120 million) with an option to buy the remaining shares in five years.

PEOPLE

Actor Darren Barnet is the new face of Victoria's Secret's Pink label.

Victoria’s Secret’s Pink brand signs first male celebrity spokesperson. Darren Barnet, 30-year-old star of Netflix’s hit teen series ‘Never Have I Ever’, has signed on as the youth-focused line’s first-ever male ‘brand ambassador’.

Missguided founder Nitin Passi is stepping down as the company explores strategic options. The British fast fashion retailer also announced 63 job cuts as part of its restructuring efforts, tapping London-based consultancy Teneo to ‘find a strategic partner with infrastructure and platform’ to help turn the company around, he said.

MEDIA AND TECHNOLOGY

Hermès plans to use the metaverse for communications.

Hermès plans to use the metaverse for communications. At Wednesday’s annual shareholder meeting, executive chairman Axel Dumas said bag maker Birkin would remain focused on craftsmanship, but was “curious and interested” in the metaverse.

Shopify is in talks to buy tech startup Deliverr, according to Bloomberg. It’s a move that would help the Canadian e-commerce company expand into fulfillment services.

THG rejects ‘many’ approaches, warns of profiteering this year. The e-commerce company warned inflationary pressure would lead to broadly flat earnings this year, missing market forecasts by 22%.

Compiled by Joan Kennedy.

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