Warby Parker’s Sales and Profits Soar in 2024
The company’s main growth driver was its continued store openings, with eight new locations during the quarter and a total of 40 anticipated for 2024.
Mytheresa on Wednesday reported another quarter of standout growth in an otherwise dreary luxury e-commerce sector amid reports that the German e-tailer is considering going private and acquiring Net-a-Porter.
It’s been a tough year for luxury e-commerce — but a crop of smaller marketplaces are beating the odds with a focus on emerging accessible luxury brands and a firmer grip on operating costs.
The DTC bust of the past two years has casted a cloud on the sector, but emerging fashion brands with a better handle on supply, demand and customer retention are seeing profitable growth.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
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Apparel start-ups founded on the promise of offering men the perfect T-shirt are proving resilient in an otherwise dreary DTC sector rampant with fire sales, bankruptcies and steep revenue declines.
Apparel brands Knot Standard and Billy Reid are teaming up in a move investors say we may see more of as fashion start-ups seek alternative funding routes to grow their businesses.
Calvin Klein’s recent viral campaigns have galvanised consumers but are slower in driving the business forward amid parent company PVH’s ongoing turnaround strategy.
Warby Parker, Everlane and other brands are partnering with small, but buzzy fashion labels as an inexpensive way to find new customers, and regain some status with shoppers who have moved on.
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The embattled athleisure brand has mounting cash problems, Sourcing Journal says.
An executive shakeup at the embattled sneaker seller adds a new layer of complexity as sales and profit continue to decline.
After reaching $300 million in sales last year, the 10-year-old DTC accessories brand is banking on a new line of higher-priced bags to increase customer loyalty and reposition the company as a destination for fashion-minded consumers.
After reaching $300 million in sales last year, the 10-year-old DTC accessories brand is banking on a new line of higher-priced bags to increase customer loyalty and reposition the company as a destination for fashion-minded consumers.
In the latest blow to the luxury e-commerce sector, the embattled Matches is closing down just over two months after being acquired by Frasers Group as relationships with brands have reportedly soured.
The company’s main growth driver was its continued store openings, with eight new locations during the quarter and a total of 40 anticipated for 2024.
The company is anticipating further sales slumps this year. Its revenue will likely drop as much as 25 percent year over year to $190 million in 2024.
E-commerce marketplace Verishop bought data analytics firm Trendalytics in a cash and equity deal that closed in March. Financial terms of the deal were not disclosed.
Allbirds’ share price has plummeted more than 90 percent since its IPO in November 2021.
Warby Parker’s revenue for 2023 rose 12 percent year over year to $670 million, beating estimates, as the eyewear maker’s store expansion continues to be a growth driver.
Neiman Marcus Group on Wednesday announced it has abandoned plans to use Farfetch’s e-commerce software to revamp the luxury department store’s online storefront and app. The luxury department store chain will also not join Farfetch’s marketplace.
South Korean e-commerce firm Coupang on Wednesday announced it finalised its deal to control all of Farfetch’s assets, which include its online luxury marketplace and e-commerce software platform.
Shoemaker Rothy’s on Tuesday announced a number of leadership changes. Co-founders Stephen Hawthornthwaite and Roth Martin have stepped down from their roles as chief executive and president, respectively. Hawthornthwaite will transition to Rothy’s chair of the board, and Martin will become chief creative and innovation officer.