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.
A deal, said to be in the works by local media outlets last week, could see the South Korean tech giant acquire a controlling stake worth around $1 billion in Zigzag, a six-year-old start-up.
Zigzag creates personalised shopping experiences with an AI algorithm and hit 750 billion won ($671 million) in transactions last year. Kakao, which operates top messaging platform KakaoTalk alongside e-commerce and gaming services, is yet to confirm the news and is looking at “a range of options,” The Korea Herald reports.
This new development follows last month’s news that Kakao was no longer in the running to buy a controlling stake in eBay Korea. South Korea’s growing appetite for e-commerce is driving growth and consolidation in the wake of Covid-19, with retail and tech giants from Shinsegae and Lotte to Coupang and Naver looking to amp up their services in an increasingly competitive landscape.
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.