German online fashion retailer Zalando on Tuesday reported a more than doubling of sales on its site from brands seeking to expand their e-commerce presence, helping total second-quarter revenue jump 27%.
Richemont, the owner of Cartier and Chloé, gave details of its proposed shareholders' loyalty scheme on Friday, where it will give warrants to investors which later can be converted into newly created stock.
Richemont’s Montblanc brand and the luxury giant’s Yoox Net-A-Porter e-tail specialist have announced a new partnership. Montblanc will now use YNAP “to power the next iteration of its successful e-commerce platform”.
Marcus Rashford, whose campaigning pushed the government to change policy on free school meals, has won further recognition for his poverty-fighting efforts - on the cover of British Vogue celebrating black leaders.
Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.
UK malls giant Hammerson on Monday confirmed press peculation that it’s in “advanced discussions on the terms of a possible disposal of its 50% interest in VIA Outlets to its joint venture partner APG”.
Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
Burberry on Friday announced the opening of its long-awaited social retail store in China’s technology hub Shenzhen, “blending the physical and social worlds in a digitally immersive retail experience”.
PayPal reported an 86% jump in Q2 profit on Wednesday as the e-commerce payments processor benefited from the shift to online spending amid the coronavirus pandemic. Net income increased to $1.53 billion.
Italian fashion group Prada said on Wednesday sales had recovered sharply in Asia since June after the fallout from the coronavirus pandemic triggered a 40% decline for comparable revenues in the first half of the year.
French luxury group Kering's Q2 comp sales plunged by 43.7% due to the coronavirus. Gucci comp sales fell 45% and Saint Laurent 48%, but recovering Bottega Veneta contained the drop in revenue to only 24.4%