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.
FRANKFURT, Germany — German e-commerce investor Rocket Internet's investors need to buy into its five to 10 year plans rather than focus on short term market fluctuations, its founder Oliver Samwer told a German newspaper.
Europe's top Internet group has faced increasing concerns from investors about the scale of losses at its start-ups ranging from online fashion to food delivery, as well as delays to planned listings due to volatile markets.
The stock has tumbled in recent weeks following a cut in the valuation of its fashion e-commerce sites to €1 billion ($1.1 billion) in late April, a third of the figure put on the business when it last raised funds in August.
Rocket shares were trading at €20.06 at 08.49 GMT on Monday, down from a year high of €46.65 on May 4 last year.
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Asked why Rocket had to raise capital so quickly for Global Fashion Group (GFG), which groups sites in six emerging markets, Oliver Samwer told Sueddeutsche Zeitung in an interview published on Monday that business was tough in some countries, like India, and liquidity needs possibly evaluated wrongly.
By: Alexander Huebner and Tina Bellon; Editor: Alexander Smith.
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.