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.
Carousell Group, which includes C2C marketplace Carousell, Vietnam’s Chotot and Malaysia’s Mudah, has added to its fashion resale arsenal by buying Ox Street, one of Southeast Asia’s fastest-growing managed marketplaces for authenticated streetwear, according to Inside Retail. Financial terms of the transaction were not disclosed.
Ox Street will retain its name, team and separate operations. The move, which is aimed at helping Carousell cater to the region’s increasingly lucrative Gen Z shopper, will also allow Ox Street to leverage Carousell’s reach and technology to attract more users.
Learn more:
Singapore’s Carousell Raises $100 Million for Regional Expansion
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.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.
Luxury fashion retailers in the oil-rich African nation keep a low profile to provide a discreet shopping environment for consumers and avoid flaunting the elite nature of their own business.