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 German online fashion retailer said on Monday its revenue expectations for 2021 were significantly above market projections, following a strong start to the year.
Gross merchandise volume (GMV) - or sales made on its site by itself or by its partners - would likely increase 27 percent - 32 percent to between €13.6 billion ($16.22 billion) and €14.1 billion in 2021.
GMV growth was around 50 percent in the first quarter, marking an “an extraordinarily strong start to the year,” the company said.
By Ludwig Burger. Edited by Jane Merriman.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.