People

Justin Berkowitz joins NN.07 as a strategic partner

Copenhagen-based menswear brand NN.07 has named Justin Berkowitz, the former men’s fashion director of Bloomingdale’s, as its strategic partner in the US to oversee the opening of its first flagship in the American market. The move is part of NN.07’s continued international expansion plans with branded spaces and flagship stores in Europe and...

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Business

ThreadUp narrows losses in Q1, sales rise

Online resale platform ThredUp reported first quarter revenue of 79.6 million dollars, an increase of 5 percent year-over-year. Gross profit for the quarter totaled 55.3 million dollars, up 8 percent, while gross margin rose to 69.5 percent. Net loss contracted to 16.6 million dollars or a negative 20.8 percent, while adjusted EBITDA loss...

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Business

Amazon set to invest 9 billion dollars in Singapore

Amazon said Tuesday it would invest 9 billion USD in Singapore over the next four years to expand its cloud computing capabilities in the city. The announcement comes after fellow tech titan Microsoft unveiled billions of dollars of investment in the same sectors in Southeast Asia last week as firms look to take advantage of growing demand in...

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Retail

UK retail suffers dismal April sales amidst weather woes and Easter timing

April's retail sales in the UK took a hit, dropping by 4 percent compared to the same period last year, according to data from the British Retail Consortium. The timing of Easter played a role in this decline, with the holiday falling in March this year as opposed to April last year, skewing year-on-year comparisons. To counteract this...

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