The pandemic shone a spotlight on African e-commerce giants like Jumia, Konga and Takealot but now there is a race to become the fashion gateway for the continent. Which specialist etailer will win?
Executives need to keep a close eye on the South African fashion market as it could be poised for a rebound after years in the doldrums. Newly installed president Cyril Ramaphosa has a tall order but industry leaders are emboldened.
The fashion industry needs to foster more substantial and deeply-rooted business partnerships in Africa, argues Hanneli Rupert.
As both a source of production and a consumer market, Africa is poorly integrated into the global fashion system, leading to lost business opportunity.
The South African businesswoman opened a concept store stocking ethically-produced African design, art and fashion, as well as her own handbag line.
The administrators said the retailer’s 541 known unsecured creditors are owed at least £35.6 ($44.2 million) but are unlikely to collectively receive more than £800,000 ($996,000), or “less than a penny in the pound.”
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.
Amazon “significantly restricted consumers’ freedom of choice” by automatically pre-setting a ‘Subscribe and Save’ option, the regulators said.
The closure is part of the company's plan to raise $850 million to $1 billion and help improve its credit metrics, said chief executive officer Alejandro González.
