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.
BERLIN, Germany — German e-commerce investor Rocket Internet saw first-half sales continue to grow strongly at several of its leading start-ups although they kept bleeding cash.
Europe's largest Internet company, founded in 2007, is viewed as a potential launch pad for future stock market listings from online fashion to food delivery although several mooted initial public offerings have been put on ice recently.
Sweden's Kinnevik, one of the biggest investors in Rocket Internet, said first-half revenues for the Global Fashion Group, which incorporates five online fashion firms in emerging markets, rose 63 percent to 418.2 million euros ($469.5 million), while the operating margin improved slightly to a negative 36.1 percent from 37.4 percent a year ago.
Furniture websites Home24 and Westwing saw revenue rise 98 percent to 117.6 million euros and 48 percent to 108.8 million euros respectively, while their operating margins deteriorated, to negative 31.7 percent for both firms.
By Emma Thomasson; editor: Maria Sheahan.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.
Brands are using them for design tasks, in their marketing, on their e-commerce sites and in augmented-reality experiences such as virtual try-on, with more applications still emerging.