Shein’s Pop-Up Store Ruffles South African Retail Sector
The retailers’ debut pop-up store in South Africa has triggered controversy and tax changes aimed at protecting local retailers by increasing levies on low-value imports.
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The retailers’ debut pop-up store in South Africa has triggered controversy and tax changes aimed at protecting local retailers by increasing levies on low-value imports.
Asos is forming a joint venture with the family’s Heartland A/S, which will pay £135 million ($178 million) for a 75 percent stake in the two brands the UK company acquired in 2021 from Philip Green’s insolvent retail business as part of a £295 million deal.
It’s the PR giant’s fifth acquisition this year as it aims to double in size by 2025.
The LVMH-owned jeweller, which opened a two-floor store in Shanghai’s Hong Kong Plaza in a high-profile ceremony in late 2019, has decided to give up about half of its square footage, sources told Bloomberg.
The cash injection will be used to help the media company enact its turnaround strategy.
The retailer is teaming up with sneaker marketplace StockX to offer a curated selection of pre-verified sneakers in a bid to enhance its online presence and compete with Amazon.
US CPSC Commissioners Peter Feldman and Douglas Dziak are calling for an investigation into e-commerce retailers Shein and Temu over safety concerns related to “deadly baby and toddler products” sold on their platforms.
Ferreira, who leads the Southeast Asia business for LVMH-owned Loewe, has been appointed the Hong Kong-based jeweller’s general manager, international.