🌀 Why Amazon should acquire Farfetch?

🛒 Mass Merchant

• 🌐 Wish launches the 'WishPost Smart Parcel' service. Wish has unveiled 'WishPost Smart Parcel', an end-to-end delivery service for shippers outside its e-commerce platform. The service taps into Wish’s network of third-party carriers covering first mile, international linehaul, customs brokerage, and last-mile delivery needs. Initially, it will focus on shipments from China to key destinations like the US, France, Japan, and the UK. Deep dive → RetailDive

• 🇺🇸 Amazon discontinues Venmo as payment option. Amazon's decision to stop accepting Venmo, a PayPal subsidiary, on January 10 caused a 1.7% drop in PayPal's shares. Venmo, integrated last October, will remain for existing users in their Amazon wallet. Amazon's abrupt reversal from adding this popular instant payment service comes without detailed explanation. Deep dive → CNBC

• 🇪🇺 Amazon expands rail and sea transport by 50%. In 2023, Amazon enhanced its logistics network in Europe by increasing the use of rail and sea transportation by 50%. Now it distributes products via more than 100 rail lanes and more than 300 sea routes. This strategy, crucial for efficient delivery, aligns with its commitment to reducing carbon emissions by 50%. Deep dive → Amazon

• 🇳🇱 Bol launches a new flexible payment model for partners. Starting January 1, 2024, Bol introduces a new payment model, allowing partners to choose monthly or bi-monthly payouts. This change, based on partner feedback and a successful pilot, aims to quicken investment and growth opportunities for partners at no extra cost. Deep dive → Bol | FashionUnited

• 🇰🇷 AliExpress fights counterfeit goods in Korean market. AliExpress commits €7.1M over three years to enhance intellectual property rights (IPR) protection in South Korea. This includes a Korean-language IPR portal, AI-based forgery detection, and a dedicated brand protection team. AliExpress's significant investment demonstrates its commitment to the Korean market, where it ranks as the third-largest e-commerce platform. Deep dive →YNA | Korea Daily

👗 Fashion & Beauty

• 🌎 Shein overtakes Zara in sales. Shein, the Chinese fast fashion retailer, has achieved $14.7B in sales in the first half of 2023, surpassing Zara's $13.8 billion. The company's growth soared from $1.3B in 2018 to an estimated $30B in 2023, leading to a projected valuation of $90B for its upcoming U.S. stock exchange listing. With only about 40 stores, mostly pop-ups, compared to Inditex's 5,800, Shein's success highlights a major shift to e-commerce over traditional retail. Deep dive → Konsider

• 🌎 Farfetch seeks urgent rescue investment. Farfetch. is actively seeking a cash injection to prevent a potential collapse, following a disappointing sales report and a $500M reduction in its full-year outlook. Farfetch is exploring options like selling its profitable brand incubator, New Guards Group (operator of Off-White and Palm Angels brands), contemplating delisting from the NYSE and delaying the publication of Q3 results. Deep dive → FashionUnited

• 🇪🇸 Zara expands its 'Pre-Owned' service across Europe. Zara is rolling out its 'Pre-Owned' second-hand clothing service to 14 European countries, including Spain, Germany, and Italy, starting December 12. Initially launched in the UK and France, this program allows customers to sell, repair, or donate used Zara clothes, aligning with the growing market for sustainable fashion and reducing waste. Deep dive → Reuters

• 🇫🇷 La Redoute shifts focus to the home sector. La Redoute is pivoting its focus to the home sector to become a European leader. CEO Philippe Berlan cites the resilience of the home decoration market and the brand's strengths as key reasons. The strategy includes expanding in Europe, particularly in Switzerland and Italy, and opening physical stores. Despite a post-COVID dip in unique visitors, La Redoute reports strong performance, with over 90% of sales in France being online. Deep dive → WWD

• 🇫🇷 ReSee appoints a new CEO for expansion. ReSee, the French luxury vintage e-tailer, has named Sébastien Fabre, co-founder of Vestiaire Collective, as its CEO. Fabre will oversee international expansion and strengthen technology capabilities, focusing on growth and profitability. Celebrating its 10th anniversary, ReSee plans to open a subsidiary in New York City next year, reflecting its strong U.S. market presence. Deep dive →Apparelresources

🍔 Food & Grocery

• 🌎 Delivery Hero, Just Eat, Deliveroo struggle for profitability. Europe's leading food delivery companies, Delivery Hero, Just Eat, and Deliveroo, are facing significant challenges in achieving sustainable profitability, with their market value dropping by over 75% since September 2021. Despite efforts to improve operational efficiency, like stacking delivery orders, and some recent gains in adjusted earnings, the firms still report substantial actual losses. The sector contrasts sharply with US counterparts like DoorDash, which have seen share price growth. Deep dive → Irishexaminer | Yahoofinance

• 🇺🇸 DoorDash partners with Best Buy for tech deliveries. The service, available through DoorDash's app, promises delivery in under an hour from Best Buy's 900 U.S. stores of consumer electronics, including headphones, tablets, and game controllers. This partnership marks an expansion of DoorDash's non-food offerings, following similar collaborations with other retailers like Lush and Victoria's Secret. Deep dive → TheVerge

• 🇺🇸 DoorDash, Uber Eats change NYC tipping policy. DoorDash and Uber Eats have removed the option to tip upon checkout in NYC. Customers can now only tip after order completion. To offset the increased wage costs, both platforms are introducing additional fees for NYC orders. Deep dive → Business insider

• 🇵🇱 Lisek partners with Uber Eats for expanded delivery service. Polish quick-delivery startup Lisek partnered with Uber Eats to enhance its reach, offering over 2200 products including groceries, household chemicals, cosmetics, electronics, and toys with delivery in as little as 15 minutes. The service, currently available in Warsaw's Wilanow and Ursynow districts, will soon expand throughout the capital and other Polish cities. This collaboration is part of Lisek's strategy to increase brand recognition and innovate in the q-commerce sector, following a similar partnership with Wolt. Deep dive → WiadomościHandlowe

• 🇮🇳 Swiggy launches pocket hero for discounted deliveries. Swiggy, a prominent food and grocery delivery platform in India, has introduced Pocket Hero, a feature offering extra cashback and discounts of up to 60% on food orders from select restaurants in Delhi. This initiative is part of Swiggy's broader strategy to make online food delivery more affordable and convenient. Deep dive →YourStory

📦Various

• 🇩🇪 MediaMarktSaturn is testing Space-as-a-Service in Berlin. In the pilot, it allocates around 22 square meters to a fitness equipment provider from its marketplace. In-store, customers can interact with products under a fitness expert's guidance, complemented by digital touchpoints like tablets for online shopping. The experiment is intended to make “Space-as-a-Service” accessible to other online retailers on its own platform. Deep dive → [MediaMarkt].

• 🇬🇧 Royal Mail introduces singing mailboxes for Christmas. In the UK, Royal Mail has enhanced the festive spirit by installing singing mailboxes in London, Swansea, Glasgow, and Belfast. These mailboxes play Christmas carols like "Jingle Bells" and "We Wish You A Merry Christmas" when used. Deep dive → Indonewyork

• 🇨🇳 Alibaba co-founder (Jack Ma) ventures into Food Processing Industry. Jack has launched "Hangzhou Ma’s Kitchen Food" in China, investing $1.4 million. This venture marks his return to business following a period of government scrutiny. The company will focus on processing and selling packaged agricultural products. Amidst China's regulatory challenges, this move aligns with Ma's foundation's focus on agricultural and educational initiatives, potentially leveraging technology to revolutionize farming practices and contribute to sustainability. Deep dive → TechNext

🌟Spotlight

• 🇬🇧 HomeCooks (marketplace for chefs) has raised €2.9M Seed investment for UK expansion. Originating as a Facebook group, it has evolved into a thriving platform with over 8K members, achieving a 600% growth by selling 60K meals to 7K customers this year. Led by Joshua Magidson, HomeCooks, aspiring to be the 'Etsy of food', is nearing its €1.6M crowdfunding goal on Seedrs. Deep dive → Tech.Eu

  

• 🇬🇧 Hurr (fashion rental marketplace) has secured €9.3M in funding, raising its total to €11.7M, for business growth. Established in 2017 by CEO Victoria Prew, HURR is recognized as the 'Airbnb for fashion', promoting sustainable fashion by renting clothes. With its hybrid model, HURR partners with over 130 brands and major UK retailers, emphasizing its commitment to environmentally friendly fashion. Previously, HURR raised €4.7M in 2021. Deep dive → Business cloud

  

• 🇪🇬 Mtor (online auto parts marketplace) has secured €2.6M in pre-seed funding. Founded in April 2022 by Mohamed Maged, Mtor emerged from his automotive experience in Germany, aiming to transform Egypt's auto parts supply chain. The platform, addressing local workshops' needs, provides streamlined logistics and price transparency. Serving over 2.5K workshops, Mtor has processed 70K+ orders, connecting workshops directly with importers for quality auto parts. Deep dive → TechCrunch