Hudson’s Bay Retail Chain to Terminate More Than 8,300 Workers by Sunday
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
While resale businesses are booming with a surge of new customers seeking value by shopping used amidst tariff-induced economic uncertainty, it creates more urgency for resale to innovate.
Ralph Lauren, American Eagle Outfitters and Banana Republic are among the retailers that briefly experimented with the concept. The implosion of CaaStle, which provided logistics for many of these services, is the clearest sign yet that rental’s future lies elsewhere.
Ralph Lauren, American Eagle Outfitters and Banana Republic are among the retailers that briefly experimented with the concept. The implosion of CaaStle, which provided logistics for many of these services, is the clearest sign yet that rental’s future lies elsewhere.
The former HSN host has built a loyal community – and racked up over $100 million in sales – by turning Instagram Live into a modern-day trunk show. Now, he’s eyeing the next frontier.
Rental platform Nuuly reported an operating income of $13.3 million last year, a major benchmark for a concept that’s long been associated with rapid growth and steep losses.
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Thousands of pre-owned Hermès, Chanel and Louis Vuitton accessories will be available for purchase on the retailer’s online marketplace.
Brick-and-mortar shops selling secondhand fashion are thriving in the US, even amid the boom in online players that’s grabbed much of the industry’s attention and investment.
Facing depressed consumer sentiment and a slew of other macroeconomic headwinds this year, the industry was forced to revisit a timeless retail playbook: compelling product, prudent spending and a revival of brick and mortar.
Retail editor Cathaleen Chen and e-commerce correspondent Malique Morris join senior correspondent Sheena Butler-Young and executive editor Brian Baskin to unpack how resale has evolved from niche to mainstream, and what may be in store for the future of secondhand shopping.
Retail editor Cathaleen Chen and e-commerce correspondent Malique Morris join senior correspondent Sheena Butler-Young and executive editor Brian Baskin to unpack how resale has evolved from niche to mainstream, and what may be in store for the future of secondhand shopping.
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Software platforms that help fashion brands turn slightly damaged returned goods into new sales are taking off as more companies look to transform online returns from a persistent dilemma into a source for profitable growth.
In the new season of the hit Netflix show, the resale platform makes a cameo, hoping that the appearance will boost its US business, which now accounts for 20 percent of its sales.
In the first edition of Bunjang’s ‘Korean Luxury Resale Report,’ the re-commerce platform examines the exponential growth of the secondhand market in the region and the defining trends to know now. Discover key insights from the report here, alongside BoF analysis.
In the first edition of Bunjang’s ‘Korean Luxury Resale Report,’ the re-commerce platform examines the exponential growth of the secondhand market in the region and the defining trends to know now. Discover key insights from the report here, alongside BoF analysis.
Koreans spend an average of $325 per capita on luxury goods each year — the highest spending globally, according to Morgan Stanley. BoF sits down with mobile re-commerce platform Bunjang’s CEO Choi Jae-hwa to understand how the resale sector stands to benefit.
Koreans spend an average of $325 per capita on luxury goods each year — the highest spending globally, according to Morgan Stanley. BoF sits down with mobile re-commerce platform Bunjang’s CEO Choi Jae-hwa to understand how the resale sector stands to benefit.
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
The brand cited headwinds in web3 and softness in the luxury market for its decision in an announcement Tuesday.
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
The mass brand will raise prices in August.