By Noe Garcia | June 10, 2021
In a multi-billion-dollar agreement, e-commerce giant Etsy will acquire peer-to-peer social shopping application Depop. The deal will see Etsy, the two-sided online marketplace with millions of buyers and sellers from around the world, acquire 100 percent of Depop’s share capital in exchange for $1.625 billion. The transaction is expected to close during the third quarter of 2021.
Global-technology platform Ssense has received a minority investment from Sequoia Capital, which will afford to the Montreal-headquartered firm a post-money enterprise value of over $5 billion CAD, or $ 4.1 billion USD.
With crypto-based consumer cards becoming more readily available, CEX.IO is adapting and evolving for the future by tapping FIS, a financial-technology leader in its own field, as the platform to support a new line of crypto-based consumer cards across Europe.
Ally Lending is giving its customers a new way to pay by offering financing through Sezzle.
Intent on reaching far beyond its headquarters in Park City, Utah, ShePlace has launched as an initiative by founder and Chief Executive Officer Jacki Zehner, who is focused on supporting the advancement of women and girls.
CIT has named Vice President Christopher DeRosa as business development officer for its commercial-services business.
Informa Connect announced Mark Bruno as the managing director of wealth management on May 4.
A definitive merger agreement for a merger transaction has been announced between digital-manufacturing platform Shapeways, Inc., and Galileo Acquisition Corp., the publicly traded special-purpose acquisition company.
Mastercard announced on April 20 its commitment to help further access to funding for Black women with a multimillion-dollar investment in Fearless Fund, created by women of color for women of color.
Denim giant Levi Strauss & Co. continues to navigate the fallout from the COVID-19 pandemic. For its first financial quarter of 2021, released April 8, the brand reported net revenues of $1.3 billion, down 13 percent compared to the same quarter the previous year. The decline was attributed to closures of company-operated stores as well as third-party retail locations.
With the world turning over a new, progressive leaf following the COVID-19 pandemic, optimism seems to be on the trend calendar for 2021. As vaccines are distributed to more people, extreme measures of caution are beginning to dissipate as the general public exhibits an increased feeling of safety.
A recent report from the Otis College of Art and Design provided details regarding how California’s creative businesses, including fashion, were dealt major setbacks during the spread of COVID-19 and how these industries were faring just before the pandemic.
A little more than a year after exiting specialty-retail giant Gap Inc., Art Peck, the company’s former chief executive officer, is looking to get back into the business.
After a harsh year navigating COVID-19, retailers will be greeted by a robust economy in the third and fourth quarters of 2021, said Frank Kaufman, national practice leader in retail for the accounting and consulting firm Moss Adams.
Omni-channel specialty menswear retail giant Tailored Brands, Inc., announced its closure of $75 million in new financing as it positions its brands, Men's Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G Fashion Superstore, for post-pandemic business.