Under-fire online fashion retailer Asos is facing growing concerns from its suppliers – some of UK's leading clothing brands – about the discounts it is offering on their products.
Asos relies heavily on selling products from fashion brands including New Look, Karen Millen and Reiss, although it also sells own-brand lines.
It is believed that some of the leading brands are frustrated with the discounts Asos has offered on their clothes, particularly in the run-up to Christmas last year, and have threatened to pull out.
Major online shopping mall operator Rakuten Inc. is finalising negotiations to acquire major US cashback shopping site operator Ebates Inc., informed sources said on Saturday.
Rakuten aims to expand its overseas operations, mainly in the United States, through the acquisition of Ebates, the sources said. The deal is estimated to exceed USD1 billion, the sources said.
Sir Philip Green's Topshop and Miss Selfridge brands are to push into China with an agreement to launch on the ShangPin.com fashion retail website next month. Sir Philip has long held the ambition of taking Topshop into China and already has two stores in Hong Kong.
The retail billionaire said: "As we continue to grow our global expansion, this will be a step forward using the power of China's online reach and therefore selling into one of the world's most exciting consumer markets."
When two young graduates of the Indian Institute of Technology-Delhi in 2007 launched Flipkart, an Amazon-inspired online book store, few Indians had ever bought anything other than airline tickets over the internet.
As a pioneer in the business, Flipkart had to wrestle with obstacles ranging from customers' reluctance to give credit card details online – or even a lack of credit cards at all – to suspicions that goods would never arrive.
Taking note of sartorial leaders in the United States and Europe, the Indonesian fashion industry is starting to realise the opportunities of e-commerce in high-end design and ready-to-wear retail.
Though the new shopping territory is still largely uncharted in Indonesia, a few product pioneers are already testing out the internet market. Their customer base, however, is still several steps behind. Shopping online, from the comfort of home, is not yet seen as an upgrade – or even as an alternative – to shopping in a store.
Indian e-commerce companies may run into more competition in the months ahead with global entities such as Alibaba, Rakuten and Walmart seriously eyeing the Indian market.
Founded by two ex-Amazon employees Sachin and Binny Bansal, Flipkart has been changing its formats and strategy over the last year with Amazon’s entry.
Vipshop, a Chinese online retailer that sells quality branded items at discount, on Wednesday reported better-than-expected results for the first quarter ended on 31 March 2014. Total net revenues surged 125.9 percent over the prior year period to USD701.9 million, primarily driven by growth in the number of active customers and total orders. Active customers grew 129.3 percent from 2.8 million to 7.4 million and total orders rose to 20.2 million from 8.8 million last year.
E-commerce will soon be larger than brick-and-mortar in India, and the trend has already started showing in pockets. That may look like a startling claim coming from an e-commerce company, but Flipkart chief executive officer (CEO) and co-founder Sachin Bansal believes that is true. The company, which recently hit the run rate of USD1 billion in gross merchandise value ahead of the target date, is the largest mobile phone retailer in the country, counting online and offline stores, estimates show. Flipkart has confirmed that.
After reporting losses of close to USD200 million in the holiday quarter, Radio Shack, the US chain of electronic retail stores, announced last week that it would close a fifth of its 5,000 stores. Competition from online majors, especially the largest in the world, Amazon, is said to be behind the decline of Radio Shack and many others across product categories.
Amazon India is aggressively strengthening its product portfolio. The online marketplace that entered the Indian market with just books and electronics has extended to handbag category with over 2,500 styles across 50 global brands such as Malaga, Michael Kors, Coach, Armani Exchange, Kate Spade, and popular Indian brands like Hidesign, Fastrack, Da Milano, Baggit, Caprese,and Lavie.