Walmart Inc-owned Flipkart on Monday ushered back SoftBank Group Corp as an investor in a $3.6 billion funding round, doubling the Indian online retailer's valuation to $37.6 billion in less than three years.
Buy-now-pay-later lender Klarna has acquired fledgling social shopping platform Hero for around £115 million, according to people familiar with the deal. It will be added to Klarna’s platform of 250,000 retail partners.
ASOS has formed a North American joint venture with US-based multi-channel retailer Nordstrom, which will take a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands "to help drive their growth”.
Due to the pandemic, L’Occitane has had to restructure. But thanks to e-tail and China, the multinational beauty group has proven resilient, and hopes this dark period will foster more responsible business practices.
Positive news for UK fashion retailers on Friday. Total like-for-like fashion sales skyrocketed 73.7% in June, albeit from a base of -20.9% for June last year, bolstered in part by steady spending online.
Kline’s latest report discusses the effects of the Covid-19 pandemic on the U.S. beauty industry in 2020 and highlights further digital innovation and integration as the sector’s route to recovery in 2021 and beyond.