Buy-now-pay-later (BNPL) giant Klarna has raised new capital in a deal that not only values it at a massive $45.6bn but gives it a valuation as much as $14bn higher than its last fundraising round as recently as March.
Beauty e-tailer Cult Beauty has filed its full-year results for the 12 months to May 31 2020 and they show that it enjoyed what it called “another great year”, despite the pandemic affecting over two months in the year.
Sourcing platform RangeMe has launched in the UK. It offers retailers instant access to over 200,000 suppliers and more than 750,000 products from around the world, with beauty being one of its big categories.
Online sales in the UK fell 9.1% year-on-year last month, although this was against a 61% increase in May 2020. And even with the fall, spend remain strong with sales volumes rising 46% compared to May 2019.
Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
Fashion was a major contributor to rising consumer spending in May, two reports showed on Tuesday. Both Barclaycard and the BRC/KPMG sales monitor showed that British shoppers were in the mood to update their wardrobes.
How’s this for an eye-watering uptake? Research shows 50% of all shoppers in the UK and the US will be participating in Amazon’s Prime Day (21-22 June). And fashion and beauty are topping the list of proposed purchases.
Britain's retail sector will endure a "tsunami of closures" if the government does not extend a moratorium on aggressive debt enforcement, industry lobby group the British Retail Consortium (BRC), has said.
The Debenhams physical store chain may be history in the UK, but one part of the business is continuing as a physical entity with its Danish Magasin du Nord operation sold to Peek & Cloppenburg for an undisclosed sum.
As they work to drive shopper traffic back to London’s West End, the New West End Company, local authority Westminster City Council and landlord Crown Estate have announced the launch of a pop-up programme.