Retail

Bloomberg Shoemaker Allbirds and its existing shareholders are seeking to raise up to $269 million in an IPO, adding to a fast-paced season for consumer-oriented listings in the US The San Francisco-based company is marketing 15.4 million shares for $12 to $14 each, according to its filing with the US Securities and Exchange Commission. Existing backers are selling an additional ...

Bloomberg Thrasio Holdings Inc, an aggregator of Amazon.com Inc products, has raised more than $1 billion in a private funding round led by technology investor Silver Lake. Silver Lake, a new investor in Thrasio, was joined by existing investors including Advent International, Upper90, Oaktree Capital Management and Peak6 in the Series D financing, according to a statement. The round valued ...

Bloomberg Walmart Inc is about to start calling its corporate staff back to the office after more than a year and a half of remote work during the coronavirus pandemic. “We will transition to working together in our campus offices on a more regular basis starting the week of November 8,” Chief People Officer Donna Morris said in a statement. ...

Bloomberg Kering SA shares tumbled after slowing growth at Gucci, its biggest brand, put more pressure on the label’s new collection to deliver a strong holiday season. Comparable sales at the Italian brand rose 3.8% in the third quarter from a year earlier, Kering said in a statement. Analysts had forecast a 9.3% increase. The performance suffered from virus restrictions, ...

Bloomberg Luxury retail chains are losing their once-iron grip on Hong Kong’s shopping streets, as Covid-19 keeps visitors away and forces the city to shift towards restaurants catering to residents. Across the Asian financial hub, one in five shops targeting mainly Chinese tourists and selling jewellery, medicine, cosmetics, clothing and leather goods has closed since the third quarter of 2018 ...

Bloomberg Saks Fifth Avenue’s e-commerce unit is interviewing potential underwriters this week for an initial public offering that could take place in the first half of 2022, Dow Jones reported, citing people familiar with the matter. The luxury retailer is targeting a valuation of around $6 billion, triple its worth in March, it added. After steps earlier this year to ...

Bloomberg JD Logistics Inc is planning to set up its own fleet of planes as the Chinese firm eyes a greater slice of a cross-border cargo market engulfed by global supply chain snarls. The logistics arm of Chinese e-commerce giant JD.com Inc aims to have “no fewer than 100 planes” by 2030, including leased and jointly purchased aircraft, said Chief ...

Bloomberg Amazon.com Inc plans to hire 150,000 seasonal staffers, about 50% more than last year as the company seeks a cushion of workers to help it meet demand during the holiday shopping period. The world’s largest online retailer typically hires legions of temporary workers this time of year to help store, pack and ship items from its warehouses. Since the ...

Bloomberg Indian tycoon Mukesh Ambani bought a stake in a high-end fashion brand, run by a stylist to some of Bollywood’s biggest stars, as Asia’s richest person continues to expand into luxury retail. Reliance Brands Ltd bought 40% of MM Styles Ltd, which owns Manish Malhotra’s eponymous fashion house, the company said in a statement. The privately-held brand was launched ...

Bloomberg Swedish home-furnishings giant Ikea gave a bleak outlook for the retail industry, saying it expects shortages from the supply-chain crisis to remain an issue through the middle of next year. “The biggest challenge has been getting products out of China, where there has been a very limited capacity,” Chief Executive Officer Jon Abrahamsson Ring of Inter Ikea, the worldwide ...