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 digital wholesale platform will use the funds to fuel international expansion and accelerate efforts to enhance its services, the company said Tuesday.
Joor has benefitted from the shift online caused by the pandemic, with more companies turning to virtual showrooms as a result of lockdowns. The company said new business has surged 228 percent in the last 12 months. Earlier in June, Joor announced plans to expand its footprint in Asia.
Anand Subramanian, managing director at Macquarie Capital Principal Finance, which led the fundraising, will join the company’s board.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.