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Mytheresa has signed a deal to acquire its larger, but insolvent rival Yoox Net-a-porter for 555 million euros. The two platforms will remain separate on the front end side, but work together closely behind the scenes. Together, Mytheresa und YNAP generate a GMV of 3 billion euros. The Industry.Fashion
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Zalando and About You have raised their revenue forecasts for 2024. Zalando is now expecting a growth of 3 – 5 per cent (formerly 0-5), About you expects a growth of 2,4 percent YOY, mostly due to a nearly two-digit growth in the German market. Exciting Commerce
Shein’s UK sales turnover has now surpassed 1.5 billion pounds. Now, Shein has become the biggest online fashion store in the UK, leaving Asos and Boohoo in the dust. Retail Week
In several shopping malls across Spain and the Netherlands, ‘Shein Outlets” have begun to pop up, FashionUnited reports. But these stores don’t belong to the Chinese online platform, and it is as of yet unclear who is behind them. Fashion United
The Greek marketplace Skroutz generated a GMV of 1 billion Euro in 2023, roughly 30 per cent of the entire Greek e-commerce market. That’s just one of the interesting figures on Skroutz, E-Commerce expert David Cikanek put together. LinkedIn
Cross-Border e-commerce turnover has reached 326 billion euro in 2023/24, Cross-Border Commerce Europe reports. 69 per cent of this cross-border turnover is being generated on marketplaces. LinkedIn
Good News
Turnaround in German e-commerce: Several German market research studies agree that the decline of German e-commerce turnover is nearly stopped. After a desastrous 2022 and 2023, turnover has stabilized in the second quarter of 2024 and now seems to be back on the tentatively rise in the third. Most of this growth goes to marketplaces who gained 7.2 per cent in turnover in the third quarter YOY. bevh
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