After Ebay, Klarna is collaborating with the resale platform Poshmark Americas Faced with the rise of circular fashion in the USA, where the second-hand market is worth US$51.9 billion, and the Swedish fintech company's ambitions to offer services beyond payment methods, Klarna and Poshmark are launching a new offer. It integrates a resale feature directly into the Klarna app.
Primark to enter Kuwait and the U.A.E. with Alshaya Africa, Middle East After announcing, in March, a new Indian operation via a franchise partnership with Reliance Brands, British retailer Primark (2024 turnover of US$11.93 billion in the fiscal year to September 2024,…
JD Sports buys Courir for €520 million, 10 times EBIT Europe After buying rival U.S. retailer Hibbett for US$1.1 billion in April, JD Sports Fashion (sales 2023 of €11.93 billion, up by 2.9%) made a 2nd acquisition.…
Bonpoint to be sold to China’s Youngor Asia The EPI group ( Bonpoint, Weston, Piper-Heidsieck, Charles Heidsieck and Biondi-Santi brands) is looking to sell the upmarket children’s label Bonpoint.…
At Marks & Spencer, self-checkout is taking root next to fitting rooms Europe In the U.K., Marks & Spencer (2023 sales: €15.3 billion, up 9.4% in a year) is installing automatic checkouts,…
Lectra aims to reduce waste in the fashion industry with Valia Europe As pressure mounts on fashion retailers to combine profitability with CSR regulations, Lectra is launching Valia, a cloud-based software package that optimises textile cutting and reduces waste.
Free Fashion: second-hand players call for an end to resale taxation Americas Europe In both the U.S.A. and Europe, federations and players in the circular fashion sector are campaigning for an end to double taxation, especially tax applied to resale margins, which applies to professional retailers.
Faced with Shein’s growth, the U.S. and the E.U. attack exemptions from customs duties Asia As the Biden administration has been threatening TikTok in America, the ultra-fast fashion giant Shein (GMV of US$45 billion in 2023,…
TJX invests US$360 million in the Dubai-based Brands For Less Africa, Middle East While Primark announced a strategic partnership with Alshaya Group to enter the Gulf, the American TJX Co.…
Exclusive [mind Retail Exclusive] Veesual signs up Lululemon and Adore Me Americas According to our information, start-up Veesual added Lululemon and Adore Me to its portfolio. These companies will be testing the AI-powered virtual fitting solution.
