The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Shopify Inc said on Monday it would provide cash advances to small businesses in Canada that are struggling due to the impact of the coronavirus outbreak on the global economy.
The Canadian e-commerce company launched a financing program, "Shopify Capital," which offers cash advances that are repaid through future sales. The advances would range from C$200 to C$500,000 per eligible merchant.
Approval will be through an online application process and will take a few days, the company said in a blog post.
US-listed shares of the company rose about 5 percent in morning trading.
By Ayanti Bera; Editor: Bernard Orr
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.