Retail News Flash vom 24.8.2023

News aus dem Handel- sachkundig kommentiert "Temu is the internet's new discount store with bargain prices that rival dollar chains. It's run as a marketplace where merchants mostly based in China sell directly to consumers. Since its US launch in September, it has become the most downloaded app on Google and Apple. Temu is fast becoming the internet's local dollar store. This Chinese-owned, but US-headquartered e-commerce platform, is run as a marketplace where sellers – who are predominantly based in China – sell products to customers in the US, Canada, Europe, and Australia. It consists of an app and website and has made waves in the US since its launch in September. Its splashy marketing campaigns – including two 30-second spots at this year's Superbowl, which were estimated to cost $14 million – set out to convince shoppers that it's possible ""to shop like a billionaire"" even when you're penny-pinching. And it seems to be working. Temu's app sped past Amazon, TikTok, and Instagram to reach the top of the download charts on both Apple and Google Pay, and its ultra-low prices have made it a prime target for social media ""haul"" videos where consumers are dubbing it the US' new version of the dollar store. " Farfetch increases in GMV and users but marks a decrease in turnover. CEO and CFO remain positive and announce that the company is moving in the right strategic direction. The 19 mytoys Stores inclusive their 160 employees are being taken over by Toysino GmbH. This take over includes a name change of mytoys into toysino. Mytoys will remain in the e commerce business of Otto.de " Tapestry acquires Versace, Michael Kors and Jimmy Choo “The merger will create a new, strong global luxury house,” Tapestry chief executive Joanne Crevoiserat said. U.S. luxury goods company Tapestry is acquiring Capri Holding for a total of $8.5 billion. The deal brings Tapestry’s brands, including Kate Spade and Stuart Weitzman, and Capri’s Jimmy Choo and Versace labels under one roof. The two companies have annual sales of more than $12 billion and adjusted operating profits of nearly $2 billion. Capri shareholders are being offered $57 per share by Tapestry – a premium of nearly 65 percent over the previous day’s closing price. Capri’s shares were trading at $54.90 in pre-market trading on Wall Street. The merger will also bring a $200 million reduction in ongoing costs over three years, according to Chief Financial Officer Scott Roe. The transaction is expected to close in 2024. Tapestry – then known as Coach – acquired handbag maker Kate Spade in 2017 for $2.4 billion. That same year, Capri, formerly known as Michael Kors, acquired British shoe maker Jimmy Choo for $1.2 billion and a year later bought Versace for $2.2 billion. The merger of the U.S. luxury brands is expected to give the company more power, as it is lagging behind the European luxury groups, above all LVMH, which owns 75 brands. Kering also recently made its presence felt by acquiring a 30 percent stake in the Valentino fashion label." I have noticed that there are a lot of personnel changes in the retail sector and the fashion market during the summer months of 2023. englische kurzform """This year, 12 new locations are scheduled to open, confirms David Philipoom, managing director at Kik in the Netherlands. Next year, in 2024, another 15 locations are to follow. These will be selected based on both population and frequency. 30,000-40,000 inhabitants is the ideal size, with preference given to areas with grocery and lifestyle shopping. In expensive shopping streets, kik is less likely to be found, local competition such as Zeeman or Kruidvat in the area is no obstacle. For the expansion, they also came up with something new: The appearance was revised and adapted for this market. The Home Decor section will be given an additional space at the front of the store to attract customers' interest and