Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Bits & Bytes | Online Luxury Market to Triple by 2025, Stitch Fix Shares Fall 6 Percent

This week, online sales of personal luxury goods are set to reach $90 million, while Stitch Fix shares fall after posting second-quarter results.
Source: Courtesy
By
  • Victoria Berezhna

The Luxury Online Fashion Market Is Set to More Than Triple by 2025 (Quartz)
"Online sales of personal luxury goods, which are currently about €20 billion ($25 billion), or 8 percent of the total luxury market, will more than triple by 2025, reaching about about €74 billion, while Amazon is on track to grab nearly 16 percent of the US apparel market by 2021."

Stitch Fix Falls 6 Percent After Posting Earnings (TechCrunch)
"The company saw its shares quickly fall 6 percent following the bell on Monday, after posting its second-quarter release. Revenue for the quarter surpassed expectations. The company brought in $295.9 million, 24 percent above last year and better than the $291.24 million predicted."

How L'Oréal Is Using Tech to Make Thousands of Custom Skin Shades (Adweek)
"L'Oréal is aiming to change that with two experiences at South by Southwest which will analyse consumers' skin, then mix up custom-made foundations and serums. They are the latest projects from the beauty brand's 30-person innovation lab."

Harvey Nichols Partners With Farfetch in Online Push (The Business of Fashion)
"High-end British department store Harvey Nichols will team up with online fashion retailer Farfetch to sell accessories and clothes through the platform as it looks to boost web sales, the companies said on Monday. This deal marks its first tie-up with a department store."

Alibaba's Jack Ma and Joe Tsai Are Pumping $20 Million Into Rent the Runway (TechCrunch)
"The deal is said to value the New York City start-up at nearly $800 million. Co-founder and chief executive Jennifer Hyman said her company, which is profitable on an EBITDA basis, was not planning on raising new funding but saw this as a rare opportunity at an advantageous time in the business' lifecycle."

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Technology
Analysis and advice on how technology is disrupting fashion and creating new opportunities.

Why Luxury Is Warming Up to Lab-Grown Diamonds

Brands including LVMH’s Fred, TAG Heuer and Prada, whose lab-grown diamond supplier Snow speaks for the first time, have all unveiled products with man-made stones as they look to technology for new creative possibilities.


The New Backlash Against Social Media, Explained

Social networks are being blamed for the worrying decline in young people’s mental health. Brands may not think about the matter much, but they’re part of the content stream that keeps them hooked.


How Coach Used Data to Make Its Tabby Bag a Hit

After the bag initially proved popular with Gen-Z consumers, the brand used a mix of hard numbers and qualitative data – including “shopalongs” with young customers – to make the most of its accessory’s viral moment.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024