The owners of Shop Direct are poised to take home a £200 million pay cheque in a refinancing deal after deciding not to sell the online retail business.
Sales of the technology should hit 24 million by the end of 2017, but the online titan still controls the market, according to a Strategy Analytics study.
An IPO will likely challenge the online personal styling model, which remains popular but is largely untested as a profitable enterprise.
Zalando has posted an uptick in revenues as it reveals plans to enter the beauty market. According to its preliminary figures, the online fashion retailer raked in €1.64 billion (£1.4 billion) in third quarter revenue, an in increase of around 27.5 per cent
Asos has reported a “great year” amid its annual results as it reveals sales rose by a third and forecasts were boosted for the coming year. In the year to August 31, Asos saw revenues jump 33 per cent to £1.9 billion alongside skyrocketing pre-tax profit growth of 145 per cent to £80 million, falling largely in line with City analysts’ predictions.
The UK’s grocers have seen their 17 th consecutive period of growth, with value increasing 3.1 per cent year-on-year, as inflation and early Christmas shopping boosts margins. According to Kantar Worldpanel’s latest grocery market share figures, inflation remained at 3.2 per cent for the 12 weeks to October 8 but this is predicted to drop to two per cent in early 2018. The Big 4 grocers all enjoyed rising sales during the period, yet their market share continued to be chipped away by the discounters.
Vendors serving some of the biggest names in sports apparel are working with the online giant on an experimental basis, Bloomberg reports.
Net-A-Porter has announced the launch of an artificial intelligence which will pick clothing for customers based on their future plans. READ MORE: Net-A-Porter named the best UK retailer for personalisation As a result of its £442 million investment in technology and personalising shopping experiences, the online fashion retailer is set to launch a picking robot that will select clothes based on where a customer is going and what type of trip it is. Another intelligent tool set to be launched by the retailer will put together outfits for customers based on other items that they have selected, according to the This is Money
H&M is set to hold its first ever meeting between shareholders and management following growing criticism about lack of transparency over its adoption of online operations. Historically the fashion retailer has largely kept investors in the dark over its operations. However, in light of competitors such as Zolando and Asos eating into the retailer’s profits its chief executive Karl-Johan Persson has said that: “We have a responsibility now to be a bit more transparent.” Dwindling sales have seen share prices fall and H&M is set to miss its main financial goal for a second consecutive year
Almost one-third of British retailers fully anticipate Britain’s exit from the European Union will have a negative impact on business, according to a survey.