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Bits & Bytes | Tinker Tailor Closes, Apple Plunge, Rocket Value Rises

Bits and Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Apple Watch | Source: Flickr
By
  • Kate Abnett

"Moda Operandi's Co-Founder Is Shutting Down Tinker Tailor" (Racked)
"Aslaug Magnusdottir's Tinker Tailor, which specialized in customizable pieces, will cease operations and no longer take orders."

"Apple Plunge Erases $38 Billion as Product Concern Resurfaces" (Bloomberg)
"Apple Inc. shares tumbled, wiping out $38 billion in market value, after disappointing iPhone sales rekindled concerns over whether the company can keep making must-have products."

"Malte Huffmann of Dafiti on Cracking Fashion E-Commerce in Latin America" (The Business of Fashion)
"In the latest instalment of Founder Stories, Malte Huffmann of Rocket Internet-backed Dafiti talks to Vikram Alexei Kansara about building the biggest fashion e-commerce player in Latin America."

"Rocket Internet Says Portfolio Value up 47 Percent from IPO" (Reuters)
"Germany's Rocket Internet said the last portfolio value of its stable of e-commerce investments had risen by 2.3 billion euros ($2.5 billion), or 47 percent, by the end of June from its stock flotation nine months ago."

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"Instagram Poaches Former Lucky Editor-in-Chief Eva Chen in New Fashion Role" (Mashable)
"Chen is joining Instagram at the end of July as its head of fashion partnerships, officially extending the social media platform's reach to designers and brands."

"Ebay-backed Asian E-commerce Company Giosis Lands $82.1M Series A" (TechCrunch)
"Giosis, the eBay-backed company behind e-commerce platform Qoo10, will boost its operations in Asia after landing a $82.1 million Series A led by Singapore Press Holdings (SPH)."

"'Tinder for Fashion' App Mallzee Secures £2.5m in Growth Capital, Blowing Dragons' Den Valuation Out of the Water(The Telegraph)
"Mallzee, the shopping app described as the "Tinder for fashion" has raised £2.5m to increase its user base from 'hundreds of thousands' to 1m by the end of the year."

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