Online & Digital
The latest news, updates and analysis on the online and digital segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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May- 2021 -13 May
Online sales in April ‘impressive’ despite high street reopening
Online retail sales have continued to grow in April, rising 10.2% year-on-year, despite the reopening of the high street and against strong figures for April 2020. According to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers, there was still some evidence…
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12 May
Vinted completes €250m fundraising round
Vinted, the C2C second-hand fashion platform, has completed a €250m (£214m) series F fundraising round at a pre-money valuation of €3.5bn (£3bn). Founded in 2008, the Lithuanian-based marketplace now operates across 10 European markets, and has a global network of over 45 million members. The investment round, led by EQT…
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11 May
OnBuy adds raft of new staff members
OnBuy has added 32 new staff members across multiple departments at the firm, as the group continues along its recruitment strategy. The hires include three new senior director appointments, as well as customer service agents, UX researchers, content writers, software development manager, a digital PR manager, and two recruitment managers.…
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11 May
THG announces $1bn capital raising
The Hut Group (THG) has announced a capital raising of roughly $1bn (£708m) to support the continuation of the group’s M&A strategy. The funds will consist of a $730m (£517m) subscription agreement with SB Management (SBM), totalling 86,621,797 new ordinary shares at the placing price. An institutional placing of up…
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6 May
Made.com expands warehouse operations
Made.com (Made) has announced that it will expand its UK operations with the development of an additional 350,000 sq ft warehouse at DP World’s London Gateway Logistics Park in Tilbury. The warehouse is expected to create up to 100 new jobs across the operative and administrative roles. The extension of…
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Apr- 2021 -30 April
Amazon sees Q1 profits surge to $8.1bn
Amazon has revealed that net income soared to $8.1bn (£5.8bn) in its first quarter results, up from a net income of $2.5bn (£1.8bn) the year prior, as more customers turned to online shopping amid the global pandemic. In the same period, its net sales increased 44% to $108.5bn (£78bn) in…
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29 April
In The Style sees sales rise 130% to £44.5m
Online fashion retailer In The Style has revealed that it expects turnover for the full-year period ending 31 March 2021 to be no lower than £44.5m, a year on year increase of more than 130%. During the period, the retailer said that new customer generation increased by 19% to 420,000,…
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29 April
Asos calls for new law to strengthen Modern Slavery Act
Asos has called for the implementation of a new mandatory human rights due diligence legislation in the UK in order to strengthen the 2015 Modern Slavery Act. The legislation, which is currently being developed by the European Commission for the EU, would help ensure that UK companies take steps to…
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27 April
Sky opens largest store to date
Sky has announced the opening of its largest store to date at the Trinity leisure destination in Leeds. The new shop forms part of Sky’s strategy to move into bricks and mortar retail, to deliver an “enhanced” customer experience and showcase the wider Sky offer. The shop brings the digital…
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26 April
Gousto reaches first year of profitability since launch
Recipe box provider Gousto has welcomed “record” sales for 2020, up 129% to £189m. Meanwhile, underlying EBITDA was £18.2m, up from a loss of £9.1m in 2019, as Gousto achieved its first full year of profitability since launch. According to the group, this strong growth has continued into 2021, with…
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