Avon North America Acquired By Regent, Appoints New CEO
The legacy beauty brand's US and Canada divisions will join the investment firm's portfolio, which also includes Avon International.
e-commerce
China
Chinese Retailer Shein Lacks Disclosures, Made False Statements on Factories
The Chinese ultra-fast fashion giant’s policies and processes to ensure labour standards in its supply chain are under scrutiny following a period of explosive growth.
Chinese Retailer Shein Lacks Disclosures, Made False Statements on Factories
The Chinese ultra-fast fashion giant’s policies and processes to ensure labour standards in its supply chain are under scrutiny following a period of explosive growth.
Retail
Amazon Forecast Misses Estimates as Pandemic Online Bump Fades
Amazon.com Inc.’s second-quarter sales and forecast for the current period fell short of analysts’ expectations, suggesting the biggest online retailer’s rapid growth through the pandemic is waning as people revert to old shopping habits. Shares fell more than 6 percent in extended trading.
Amazon Forecast Misses Estimates as Pandemic Online Bump Fades
Amazon.com Inc.’s second-quarter sales and forecast for the current period fell short of analysts’ expectations, suggesting the biggest online retailer’s rapid growth through the pandemic is waning as people revert to old shopping habits. Shares fell more than 6 percent in extended trading.
Retail
How to Stage Immersive Experiences in Physical Stores
Ssense’s Krishna Nikhil and 2PM’s Web Smith talk strategies for making physical retail exciting at The BoF Professional Summit: What’s a Store For?
How to Stage Immersive Experiences in Physical Stores
Ssense’s Krishna Nikhil and 2PM’s Web Smith talk strategies for making physical retail exciting at The BoF Professional Summit: What’s a Store For?
Technology
Ant Group-backed Kakao Pay Seeks Up to $1.4 Billion in IPO
Kakao Pay Corp., South Korea’s largest online payment service with 36 million users, is seeking to raise as much as 1.63 trillion won ($1.4 billion) in an initial public offering in Seoul, following blockbuster IPO filings from Kakao Bank and Krafton Inc. this week.
Ant Group-backed Kakao Pay Seeks Up to $1.4 Billion in IPO
Kakao Pay Corp., South Korea’s largest online payment service with 36 million users, is seeking to raise as much as 1.63 trillion won ($1.4 billion) in an initial public offering in Seoul, following blockbuster IPO filings from Kakao Bank and Krafton Inc. this week.
Technology
Amazon Warehouse Workers Push for Changes at Annual Meeting
The spasm of worker activism that has roiled Amazon.com Inc. in recent months arrived at the company’s annual meeting on Wednesday, with two leaders of a failed union drive backing shareholder proposals encouraging Amazon to complete a diversity audit and consider workers for board seats.
Amazon Warehouse Workers Push for Changes at Annual Meeting
The spasm of worker activism that has roiled Amazon.com Inc. in recent months arrived at the company’s annual meeting on Wednesday, with two leaders of a failed union drive backing shareholder proposals encouraging Amazon to complete a diversity audit and consider workers for board seats.
China
ByteDance Hires Thousands to Challenge E-Commerce King Alibaba
Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba.
ByteDance Hires Thousands to Challenge E-Commerce King Alibaba
Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba.
Global Markets
China Fines Alibaba Record $2.8 Billion After Monopoly Probe
China slapped a record $2.8 billion fine on Alibaba Group Holding Ltd. after an anti-monopoly probe found it abused its market dominance, as Beijing clamps down on its internet giants.
China Fines Alibaba Record $2.8 Billion After Monopoly Probe
China slapped a record $2.8 billion fine on Alibaba Group Holding Ltd. after an anti-monopoly probe found it abused its market dominance, as Beijing clamps down on its internet giants.
News & Analysis
Amazon Ordered to Close Canadian Facility on Covid-19 Outbreak
Amazon.com Inc. has been ordered to close a facility outside Toronto for two weeks as public health officials worry about rising Covid-19 cases inside the complex.
Amazon Ordered to Close Canadian Facility on Covid-19 Outbreak
Amazon.com Inc. has been ordered to close a facility outside Toronto for two weeks as public health officials worry about rising Covid-19 cases inside the complex.
Retail
Amazon Go Rival Bets Pandemic Bolstered Case for Cashierless Shopping
A start-up selling Amazon Go-like checkout technology to retailers has raised money from investors at a $1 billion valuation, minting a new unicorn a year into a pandemic that has helped bolster the case for automated checkout.
Amazon Go Rival Bets Pandemic Bolstered Case for Cashierless Shopping
A start-up selling Amazon Go-like checkout technology to retailers has raised money from investors at a $1 billion valuation, minting a new unicorn a year into a pandemic that has helped bolster the case for automated checkout.
Retail
Amazon Acquires Australia-based Shopify Competitor Selz
Amazon.com Inc. has acquired Selz, a Sydney-based e-commerce platform that helps small businesses create their own websites much the way Shopify Inc. does.
Amazon Acquires Australia-based Shopify Competitor Selz
Amazon.com Inc. has acquired Selz, a Sydney-based e-commerce platform that helps small businesses create their own websites much the way Shopify Inc. does.
News & Analysis
Amazon Sues New York Attorney General Over Covid Protocol
The Seattle-based company seeks a court order that would prevent the New York AG from seeking to regulate Amazon’s actions in response to coronavirus, as well as claims of retaliation by workers who protest working conditions.
Amazon Sues New York Attorney General Over Covid Protocol
The Seattle-based company seeks a court order that would prevent the New York AG from seeking to regulate Amazon’s actions in response to coronavirus, as well as claims of retaliation by workers who protest working conditions.
News & Analysis
Amazon Bid to Delay Union Vote Rejected
Last month the e-commerce giant had asked the regulator to halt the vote to give officials time to reconsider the company’s proposal to conduct the election in person at the warehouse.
Amazon Bid to Delay Union Vote Rejected
Last month the e-commerce giant had asked the regulator to halt the vote to give officials time to reconsider the company’s proposal to conduct the election in person at the warehouse.
The News in Brief
Shein’s Purchase of Everlane Faces US National Security Review
A review by an interagency panel led by the US Treasury Department began after the $80 million transaction was completed in May, according to the people familiar with the matter.
Shein Sets IPO Date, Targets Up to $27 Billion Valuation
The company is set to debut on the Hong Kong stock exchange on Sept. 1 and is seeking to raise as much as $1.8 billion in its long-awaited IPO, according to a filing.
Marquee Brands to Acquire Roots in Go-Private Deal
The brand management company will add the Canadian lifestyle label to a growing portfolio that includes Roberto Cavalli and BCBG.
UK Retail Sales Drop for the First Time in Three Months
Scorching weather and fewer discounts discouraged shoppers and ended a recent rebound in consumer spending as retail sales fell for the first time since April.
Fashion CEO Hunsicker Gets Five Years for $300 Million Fraud
Christine Hunsicker, founder of the fashion-rental and technology company CaaStle Inc., was sentenced to five years in prison for defrauding investors out of $300 million.
Boohoo Fined $2.7 Million by French Watchdog Over Deceptive Discounts
Nearly half of the examined promotions were revealed to be price increases. The Debenhams-owned fast-fashion brand also used terms like ‘leather’ to sell synthetic products.
Report: Shein Postpones IPO to September
Shein has pushed back its market debut following a delay in taking investor orders for its Hong Kong IPO at a reduced valuation, the South China Morning Post reported.