US Online Retail Spending Up 7%, Driven By Demand for Cheaper Products
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
The French luxury giant participated in a $46 million funding round intended to accelerate commercialisation of San Francisco-based VitroLabs’ lab-grown leather.
Modern Meadow, Bolt Threads and VitroLabs are leading a wave of start-ups tapping biotechnology to develop a new generation of sustainable and cruelty-free materials.
LONDON, United Kingdom – This week, we are delighted to welcome three new companies to BoF Careers, the global marketplace for fashion talent. Mario
BoF editor-in-chief Imran Amed recaps the week's top developments in the business of fashion.
The entrepreneur is growing leather in his laboratory, taking a lead in the biomanufacturing movement.
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.
Warby Parker’s revenue jumped 16 percent year over year to $200 million in the first quarter of the year as other brands in the sector struggle to grow sales. The eyewear seller expects full year sales to climb as much as 13 percent to $761 million in 2024.
New analysis shows that 162,000 tourists from outside the European Union sought refunds on VAT — a sales tax — exclusively in Britain in 2019. One fifth of those tourists are now claiming rebates in other parts of the EU, where the tax break still applies.
Fabiola Torres, who has also held leadership roles at Nike and Apple, will oversee the group's marketing, merchandising and store experience functions.
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.
After rallying more than 120 percent last year, Shopify shares have struggled this year after the company had projected higher operating costs than expected for this quarter.
The online fashion specialist said it had built up net debts of £95m in the year to the end of February – down from almost £6m of net cash a year before – after losses widened 76 percent to £160 million.