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.
South Korea’s largest e-tailer, which in March netted a record-breaking $4.6 billion US IPO, is outpacing 250 global rivals according to Deloitte’s Global Powers of Retailing 2021 report.
Having reported a 60 percent year-on-year revenue boost and a five-year compound annual growth rate (CAGR) of more than 100 percent, Coupang has overtaken India’s Reliance Retail, which was named the world’s fastest-growing retailer in last year’s survey.
Coupang may be leading the e-commerce race in Korea, but competition is fierce. The company credited its rapid revenue growth to its focus on logistics: due to the density of its domestic market, 70 percent of Koreans live within 10 minutes of one of Coupang’s logistics centres.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.