Farfetch reaches profitability after 12 years

The luxury e-commerce platform’s revenues in 2020 increased 64 per cent to $1.7 billion, with future sights set on China and new categories like beauty.

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Bernie Sanders' mittens propelled $1.9M in Etsy sales last month

Etsy walloped expectations this week, reporting Thursday that fourth quarter gross merchandise sales rose nearly 118% year over year to $3.6 billion as revenue rose 129% to $617 million. With masks driving 4% of sales in the quarter, the marketplace was compelled to note in a press release that GMS excluding masks rose 118% to $3.3 billion.

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Walmart Seen as Finding Its Stride in Apparel

The retailer’s recent promotion of Denise Incandela to oversee apparel and other general merchandising private brands marks a key milestone.

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LVMH Fenty fashion house on hold

LVMH Moët Hennessy Louis Vuitton, and musician and fashion icon Rihanna, have hit pause on the Fenty fashion house, they confirmed in a statement Wednesday. "Rihanna and LVMH have jointly made the decision to put on hold the [ready-to-wear] activity, based in Europe, pending better conditions," a spokesperson said by email. The news was first reported by Women's Wear Daily.

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Under Armour plans a return to profitable growth in 2021

Turnaround is still the word of the day at Under Armour, with CEO Patrik Frisk saying on a fourth quarter conference call that the brand will return to profitability in 2021. The company beat its own expectations, as well as those of analysts, as it works to rebalance its cost structure and move toward stronger growth.

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