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.
BERLIN, Germany — German e-commerce investor Rocket Internet saw first-half sales continue to grow strongly at several of its leading start-ups although they kept bleeding cash.
Europe's largest Internet company, founded in 2007, is viewed as a potential launch pad for future stock market listings from online fashion to food delivery although several mooted initial public offerings have been put on ice recently.
Sweden's Kinnevik, one of the biggest investors in Rocket Internet, said first-half revenues for the Global Fashion Group, which incorporates five online fashion firms in emerging markets, rose 63 percent to 418.2 million euros ($469.5 million), while the operating margin improved slightly to a negative 36.1 percent from 37.4 percent a year ago.
Furniture websites Home24 and Westwing saw revenue rise 98 percent to 117.6 million euros and 48 percent to 108.8 million euros respectively, while their operating margins deteriorated, to negative 31.7 percent for both firms.
By Emma Thomasson; editor: Maria Sheahan.
Successful social media acquisitions require keeping both talent and technology in place. Neither is likely to happen in a deal for the Chinese app, writes Dave Lee.
TikTok’s first time sponsoring the glitzy event comes just as the US effectively deemed the company a national security threat under its current ownership, raising complications for Condé Nast and the gala’s other organisers.
BoF Careers provides essential sector insights for fashion's technology and e-commerce professionals this month, to help you decode fashion’s commercial and creative landscape.
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.