It seems 4,000% growth in a year isn’t quite enough. So fashion and beauty online discounter Secret Sales has secured £10 million in new funding to ensure it remains at the forefront of the booming sector.
Burberry lost almost £1 billion off its market capitalisation on Monday, following the announcement that CEO Marco Gobbetti is to leave, as worries over who will continue to lead its strategic transformation surfaced.
First the bad news. Clothing sales for June were “poor for the time of year”, according to the latest Confederation of British Industry (CBI) survey. What’s more, growth in online sales slowed sharply this month.
Amazon Prime Day may have driven massive traffic to Amazon itself, but it also had a knock-on effect on other retailers, a new study has shown. And beauty and fashion were key purchase priorities during the event.
UK consumer confidence remained stable in June and there’s a brighter picture for personal finances. But the question remains whether the threat of inflation is already clouding prospects for the economy, Gfk said.
According to a new report from NPD, increases in sales of dresses and shapewear indicate that consumers are returning to social events, but the pandemic looks to have changed the way shoppers are approaching dressing up.