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.
One of Chile’s most prominent retail conglomerates showed signs of recovery from the effects of the pandemic on its business, with revenues growing 5 percent year-on-year for the first quarter of 2021, from 358 billion Chilean pesos ($498.8 million) to 375.93 billion ($523.8 million).
The company attributed the return to growth to a 29.9 percent increase in revenue for its retail segment, despite restrictions in place during the period in order to stem the spread of Covid-19 infections.
Meanwhile, the retailer’s EBITDA grew 15.1 percent to 13.47 billion pesos ($18.77 million) year-on-year and consolidated gross profit rose 13.6 percent.
Ripley’s digital platform continues to be a key component of the company’s recovery. Its online sales grew 188.7 percent in the first quarter, bringing gross merchandise volume (GMV) to 163.22 billion Chilean pesos ($226 million).
In addition to the department store segment (with 13 stores in Chile and 31 in Peru), the Santiago-based company also has banking and mall operations in both countries.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.