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Bits & Bytes | Browns, Fitbit, Myntra, Wish

Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Browns | Source: Brownsfashion.com
By
  • Kate Abnett

"Browns Acquired by Farfetch as Part of Omni-Channel Growth Strategy" (The Business of Fashion)
"BoF has learned that online marketplace Farfetch has acquired London boutique Browns to develop and test new retail and omni-channel strategies."

"Fitbit in rude financial health ahead of IPO" (The Financial Times)
"When the company filed its prospectus for an initial public offering of at least $100m last week, even seasoned observers of the market were taken aback by the strength of its financial results."

"In Global E-commerce First, India's Largest Fashion Portal Myntra Ditches Website, Goes Mobile-only" (Forbes)
"Fashion portal Myntra owned by India's largest e-commerce firm, Flipkart, will shut its website and go mobile-only through its app."

"Mobile Shopping App Wish Possibly Raised More Than $500 Million, Now Valued At $3 Billion" (Forbes)
"Wish, a mobile shopping application, possibly raised more than $500 million according to financial filings obtained by VC Experts and shared with Forbes."

"Alibaba Boosts Its Stake in Online Retailer Zulily to 9.3%(Bloomberg)
"Alibaba Group Holding Ltd., China's biggest e-commerce company that held its initial public offering last year, bought $56.2 million of stock in U.S. online retailer Zulily Inc. this week, according to a regulatory filing."

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