Next Upgrades Profit Outlook Again on Strong Summer Spending
The UK retailer said it benefited from sunny weather and the release of some “pent-up demand” in the Middle East and northern Europe.
e-commerce
Direct-to-Consumer
Warby Parker Grows Profits in Second Quarter
Warby Parker reported another quarter of growing sales and profit. The eyewear maker’s revenue grew 11 percent to $166 million in the second quarter of the year, and it generated $14 million in adjusted earnings before interest, taxes, depreciation and amortisation, up from $6 million a year earlier.
Warby Parker Grows Profits in Second Quarter
Warby Parker reported another quarter of growing sales and profit. The eyewear maker’s revenue grew 11 percent to $166 million in the second quarter of the year, and it generated $14 million in adjusted earnings before interest, taxes, depreciation and amortisation, up from $6 million a year earlier.
Partner Content
How E-Commerce and SMEs Are Transforming Africa’s Fashion Industries
The potential of the African continent as both a manufacturing hub and consumer market is still largely untapped. BoF shares key insights from sector specialists on the driving forces behind the evolution of Africa’s fashion industry and identifies what opportunities exist for local and international businesses.
How E-Commerce and SMEs Are Transforming Africa’s Fashion Industries
The potential of the African continent as both a manufacturing hub and consumer market is still largely untapped. BoF shares key insights from sector specialists on the driving forces behind the evolution of Africa’s fashion industry and identifies what opportunities exist for local and international businesses.
Direct-to-Consumer
Building a Rewards Programme That Keeps Fickle Customers Coming Back
Facing a competitive landscape and unreliable online shoppers, brands can no longer rely on a traditional points-based offering to drive repeat purchases.
Building a Rewards Programme That Keeps Fickle Customers Coming Back
Facing a competitive landscape and unreliable online shoppers, brands can no longer rely on a traditional points-based offering to drive repeat purchases.
Direct-to-Consumer
Tamara Mellon Announces Partnership With Footwear Licensing Company
Luxury shoe designer Tamara Mellon is partnering with licensing company Titan Industries to operate and manufacture her namesake brand, the two companies announced Friday.
Tamara Mellon Announces Partnership With Footwear Licensing Company
Luxury shoe designer Tamara Mellon is partnering with licensing company Titan Industries to operate and manufacture her namesake brand, the two companies announced Friday.
Retail
Shein Spends $600,000 on US Lobbying As It Faces Washington Scrutiny
Fast-fashion giant Shein spent $600,000 on US lobbying efforts in the second quarter as it continues to face questions from lawmakers about forced labor and its opaque supply chain.
Shein Spends $600,000 on US Lobbying As It Faces Washington Scrutiny
Fast-fashion giant Shein spent $600,000 on US lobbying efforts in the second quarter as it continues to face questions from lawmakers about forced labor and its opaque supply chain.
Technology
Ssense Launches an AI-Based Personal Styling Chatbot
The online retailer has a new generative-AI chatbot to help users with their styling and shopping questions, but unlike other AI chatbots launched by big fashion retailers, this one integrates directly into ChatGPT.
Ssense Launches an AI-Based Personal Styling Chatbot
The online retailer has a new generative-AI chatbot to help users with their styling and shopping questions, but unlike other AI chatbots launched by big fashion retailers, this one integrates directly into ChatGPT.
Technology
Amazon Prime Day Sales Rise as Deep Discounts Tempt Inflation-Hit Shoppers
Amazon.com’s Prime Day two-day shopping event saw US online sales rise nearly 6 percent to $6.4 billion from a year ago on its first day, as heavy discounts lured bargain-hunting customers who splurged on appliances and toys, Adobe Analytics data on Wednesday showed.
Amazon Prime Day Sales Rise as Deep Discounts Tempt Inflation-Hit Shoppers
Amazon.com’s Prime Day two-day shopping event saw US online sales rise nearly 6 percent to $6.4 billion from a year ago on its first day, as heavy discounts lured bargain-hunting customers who splurged on appliances and toys, Adobe Analytics data on Wednesday showed.
Technology
Is Fashion’s Buy-Now, Pay-Later Boom Over?
Instalment payment services helped fuel sales for years. But high interest rates could soon have shoppers pulling back.
Is Fashion’s Buy-Now, Pay-Later Boom Over?
Instalment payment services helped fuel sales for years. But high interest rates could soon have shoppers pulling back.
Technology
Amazon Fights EU Over ‘Discriminatory’ Online Content Rules
Amazon.com Inc. is fighting the European Union’s decision to include it on a list of Big Tech firms facing extra scrutiny under the bloc’s tough new content-moderation rules.
Amazon Fights EU Over ‘Discriminatory’ Online Content Rules
Amazon.com Inc. is fighting the European Union’s decision to include it on a list of Big Tech firms facing extra scrutiny under the bloc’s tough new content-moderation rules.
Technology
Temu Sellers Are Now Copying Entire Amazon Storefronts, Lawsuits Allege
Amazon sellers say that Temu sellers are copying their listings and eating away at their sales.
Temu Sellers Are Now Copying Entire Amazon Storefronts, Lawsuits Allege
Amazon sellers say that Temu sellers are copying their listings and eating away at their sales.
China
BoF Insights | Dynamic Journeys: China’s Luxury Shoppers at Home and Abroad
Chinese fashion and beauty customers — long pivotal for the global luxury market — are reshaping how and where they shop, according to BoF Insights’ new report.
BoF Insights | Dynamic Journeys: China’s Luxury Shoppers at Home and Abroad
Chinese fashion and beauty customers — long pivotal for the global luxury market — are reshaping how and where they shop, according to BoF Insights’ new report.
Retail
Amazon Prime Day Isn’t the Only Game in Town Anymore
The e-commerce giant’s rivals are planning their own sales events, while Shein and Temu are luring consumers with the promise of year-round discounts. That, plus what else to watch for in the week ahead.
Amazon Prime Day Isn’t the Only Game in Town Anymore
The e-commerce giant’s rivals are planning their own sales events, while Shein and Temu are luring consumers with the promise of year-round discounts. That, plus what else to watch for in the week ahead.
The News in Brief
Shiseido’s Profits Recover In First Half Amid Turnaround
Growth turned positive in the second quarter, driven by key regions like the Americas, as the Japanese giant executes its yearlong restructuring plan.
Amazon Loses US Court Ban on Perplexity’s AI Shopping Tools
The ruling is the first by a federal appeals court to address whether AI agents acting on behalf of users can legally access online platforms.
Report: Abercrombie to Seek Fresh Backers for China Business
The US-listed company is conducting a review of its Chinese assets and may sell a stake in the unit, which could be valued at several hundred million dollars, Bloomberg reported.
P&G to Buy Supplement Maker Thorne for $3.8 Billion
Shailesh Jejurikar, chief executive of the American personal care conglomerate, told CNBC it will acquire the line from LVMH-backed private equity firm L Catterton.
Eli Lilly to Offer Early Access to Next-Gen Obesity Drug to Some Patients
Eli Lilly said on Monday it would allow a limited number of patients to have early access to its experimental obesity drug, retatrutide, before its US FDA approval.
India’s Nykaa Posts Higher Quarterly Profit on Strong Beauty Demand, Fashion Growth
India’s FSN E-Commerce Ventures, which operates beauty and fashion retailer Nykaa, reported a more than three-fold rise in quarterly profit on Tuesday, boosted by strong growth in its beauty business and a sharp acceleration in fashion sales.
Ferragamo Returns to Profit as Relaunch Strategy Advances
The Italian luxury brand swung to a net profit for the first half after growing sales in the second quarter, with turnaround efforts particularly evident in its directly owned shops.