ASX-listed online retailer Kogan.com is back in the red following its write-down of New Zealand acquisition Mighty Ape. Shares in Kogan.com (ASX: KGN) were placed in a trading halt briefly on Monday morning ahead of the results release and news of board changes. The $46.3 million on-cash impairment to goodwill from its $122m Mighty Ape… Read more »
Bunnings may be a goldmine for Wesfarmers, but ecommerce site Catch has been a millstone since the ASX-listed retail conglomerate bought the tech startup for $230 million in 2019. Today, Wesfarmers announced it will shut down Catch at the end of April, blaming increased competition in Australian ecommerce. They expect Catch to post a loss… Read more »
ASX-listed online retailer Kogan.com has swooped on another distressed asset, acquiring failed furniture brand Brosa a week after it was placed in voluntary administration. Administrators KordaMentha reached a deal with Kogan.com (ASX:KGN) to buy Brosa’s assets for $1.5 million after more than 30 parties expressed interest in the 48 hours after the business was placed… Read more »
Online grocery supermarket VOLY has raised $18 million in a seed round just five months after launching. The round was led by Sequoia Capital India, with increased backing from Global Founders Capital (GFC) and Australian-based Artesian Capital. The business launched in July 2021 seeking to take on the rapid food delivery market with a promise… Read more »
The duo behind Stylerunner have a new startup targeting women’s fashion two years after their online activewear retail venture collaps Twins Sali Sasi and Julie Stevanja will launch a “curated shopping and discovery app”, Her Black Book, next month. The sisters founded the ecommerce site Stylerunner in 2012 with Sasi parting ways with her sister… Read more »
Shares in online retailer Kogan.com have plunged more than 13% to below $9 in opening trade on Friday after the company slashed its FY2021 earnings below market expectations in its latest trading update. While the business declined to offer forward guidance during its half-yearly results in February, today the business (ASX: KGN) said it expects… Read more »
Byron Bay-based Danny Clayton is a pioneer of the surf leggings trend. Her brand, Salt Gypsy, uses recycled fishing nets and plastic ocean waste to produce sustainable surfwear. Salt Gypsy clothing is Australian made and Clayton is one of the first brands to be part of the new Amazon Launchpad store for startup brands. … Read more »
Amazon Launchpad, an online store for startup brands, launched in Australia today. The store has more than 150 brands and more than 3000 products available. It uses Amazon’s rapid local fulfilment network to solve some of the biggest challenges startup founders face. Amazon.com.au’s latest innovation for the Australian market, Amazon Launchpad, a new store for… Read more »
The City of Sydney has partnered with Investible to run a Retail Innovation Program, an accelerator program aimed at helping traditional bricks and mortar retailers get online.
ShopBack is an online loyalty program of sorts, giving shoppers cash back for purchases made from partner retailers through its platform.
As the retail sector waits for Amazon to launch its Prime service down under, eBay has today announced the launch of its own membership program, eBay Plus, in Australia.
Though Australian shoppers may be excited about Amazon’s arrival down under – and the dramatic drop in shipping fees expected to come with it – the headlines announcing the imminent death of the local retail sector are somewhat melodramatic. As it turns out, many local consumers still enjoy the bricks and mortar experience and will… Read more »
In this episode of Startup meet Corporate we explore innovation in the retail sector.
A few months after confirming its plans to set up shop in Australia, Amazon has today announced the opening of a fulfilment centre in Dandenong South.
The Wine Gallery was founded in 2015 out of a frustration cofounder Tom Walenkamp thought he couldn’t be alone in facing: understanding the language of wine is complicated
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