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.
The South Korean e-commerce giant is facing a probe over allegations it manipulated search algorithms to favour its own products over third party suppliers, sources with knowledge of the inquiry told the Financial Times.
The Korea Fair Trade Commission (KFTC) inspected the group’s Seoul headquarters last month on the back of claims regarding unfair business practices. Last year, the KFTC slapped a 26.7 billion won ($23.6 million) fine on the company’s rival Naver for interfering with search algorithms on its streaming and shopping platforms.
The investigation is just one of the ways rapidly growing Coupang — which after a record IPO in March started expanding globally by way of Japan — has come under fire in recent months. At the time of its IPO, the firm was already facing backlash regarding work-related illnesses and deaths at its offices and warehouses, which doubled from 2019 to 2020, including a fire in March that destroyed its largest logistics site and killed one employee. The firm has denied responsibility for the deaths.
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.