The Body Shop Canada Ltd. is seeking creditor protection and closing a third of its stores because its parent company stripped the Canadian arm of cash and pushed it into debt, according to court documents. An affidavit published through the company’s court monitor from Jordan Searle, who heads the Canadian arm, describes how troubles befell … Read more
Matt Baer, who’s been chief executive officer of Stitch Fix Inc. since June, has a plan to get the styling service back to its roots and to “reimagine” its client experience. But as he puts that to work to build for the future, the one-time digital darling is continuing to rack up losses as its … Read more
Bengaluru: E-commerce marketplace Flipkart on Sunday launched its Unified Payments Interface (UPI) handle to further enhance its digital payment offerings for all customers, including its 500+ million customers. With Flipkart UPI, users can now set up their own UPI handle for online and offline Merchant transactions within and outside of the Flipkart marketplace. For a … Read more
“Reluctantly, we will bid farewell to many valued members of the Daraz family,” acting chief executive James Dong said in an internal memo published on the company’s website on Tuesday. Alibaba, owner of the South China Morning Post, acquired Daraz in 2018. “Despite our efforts to explore different solutions, our cost structure continues to fall … Read more
Geneva — Since late last century and the early days of the web, providers of digital media like Netflix and Spotify have had a free pass when it comes to international taxes on films, video games and music that are shipped across borders through the internet. But now, a global consensus on the issue may … Read more
Alibaba Group Holding is set for a comeback after several years of rising competition and macroeconomic pressures, according to the company’s co-founder and chairman Joe Tsai, who is backing the Chinese e-commerce giant to bounce back. Alibaba is “a lot more confident” about its position as one of China’s top e-commerce players as it undergoes … Read more
The rapid rise of fast-fashion e-commerce retailers such as Shein and Temu is upending the global air cargo industry, as they increasingly vie for limited air-cargo space to woo consumers with rapid delivery times, industry sources say. Shein, PDD Group’s Temu and ByteDance’s TikTok Shop, which recently launched online shopping in the U.S., ship the majority … Read more
The start-up in October launched smart chatbot Kimi Chat, built on its self-developed Moonshot large language model (LLM), which can process as many as 200,000 Chinese characters in a context window – referring to the swathe of text that an AI model can process during conversation with users. A screenshot of smart chatbot Kimi Chat. … Read more
JD.com, founded by Chinese billionaire Richard Liu Qiangdong in 1998, is considering a bid for UK electronics retailer Currys as China’s e-commerce giants continue to look for overseas growth amid stagnant demand and rising competition at home. JD said on Monday it is “in the very preliminary stages of evaluating a possible transaction that may … Read more
Held live earlier this month at the Lectra Innovation Center in New York and streamed online late last week, the “Worldwide Talks 2024” was presented by Marcelo and Jordana Guimaraes, founders of Fashinnovation, and featured leading fashion brands and tech companies. The themes included fashion marketing and branding, sustainability, authenticity, building community, and leveraging AI … Read more
