DIRS.INFO The most relevant business & tech news

☆ ‘I’m really desperate now’: Temu sellers revolt against fines and withheld pay
▼ + stars: | 2024-08-01 | by ( Juliana Liu | ) edition.cnn.com time to read: +6 min

Hundreds of them staged a demonstration this week at an office affiliated with Temu in the southern Chinese city of Guangzhou. They were protesting what they called “unjust” fines levied by the company or withheld payment on goods already sold, among other complaints. Temu operates as an online store, carrying cut-price merchandise from self-employed sellers. Four sellers interviewed by CNN said the fines ranged from one to five times the wholesale price of the product. CNN has seen screenshots of the seller’s Temu account showing a total of just under two million yuan was ineligible for withdrawal.

Persons: Temu, “ I’m, ”, Shein, ” Temu, Abe Yousef, Goldman Sachs, Ivy Yang, “, Peng Organizations: Hong Kong CNN —, Temu, CNN, Super, Shein, Consumers Locations: China, Hong Kong, Guangzhou, Chinese, Thailand, Temu, “, United States, Latin America, East, Southeast Asia

☆ Temu and Shein's soaring popularity has Wall Street eyeing China's influence on tech earnings
▼ + stars: | 2024-07-29 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

The topic of Temu and Shein's growth will hover over tech earnings this week, as Amazon reports second-quarter results alongside Meta, eBay and Etsy. watch nowIn Amazon's report on Thursday, the company is expected to show revenue growth of about 11% to $148.6 billion, according to LSEG. That's where Temu and Shein come into play, as merchants now have new ways to get products to American consumers. Amazon has continued to highlight its delivery prowess and its focus on speed in the face of growing competition from Temu and Shein. However, while it's long touted itself as the "lowest-priced U.S. retailer," Amazon has shown that it's well aware of Temu and Shein's increasing popularity.

Persons: Stefani Reynolds, David Zapolsky, Zapolsky, it's, Shein, Andy Jassy, Jassy, It's, Angus Mordant, Temu, Meta, Susan Li, Jamie Iannone, Etsy, Amazon, Amazon's Zapolsky Organizations: Apple, CNBC, Afp, Getty, eBay, Meta, Etsy, Tech, YouTube, Microsoft, Intel, Qualcomm, Google, PDD Holdings, Amazon, European Union, Bloomberg, Barclays, Finance, EBay, Bank of America, Walmart Locations: U.S, China, Temu, New York, Asia, Pacific, San Francisco, Singapore

☆ The 'great rotation' faces its biggest test yet: earnings from Microsoft, Meta, Apple and Amazon
▼ + stars: | 2024-07-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +15 min

That will be the case in this jam-packed week , with the earnings from Microsoft on Tuesday, Meta Platforms on Wednesday, and Apple and Amazon on Thursday. If Alphabet said it cut back on data-center spending, then it would be alleged the company is falling behind Amazon and Microsoft in the AI race. The company also is now dogged by another competitor in search engines after ChatGPT creator OpenAI announced a prototype of SearchGPT . Apple reports on Thursday, and if you think the cloud-computing heavyweights are spending on too much AI, then you should be buying Apple. President Joe Biden always chose to have his agencies wear down tech companies.

Persons: Don Forst, There's, hadn't, OpenAI, Tesla, Elon Musk, —, Russell, Mark Zuckerberg, Nvidia's Jensen Huang, It's, Zuckerberg, EssilorLuxottica —, EssilorLuxottica, Andy Jassy, Stanley Black, Decker, it's, Kamala Harris, Tony West, Joe Biden, Harris, Biden, Biden couldn't, Gina Raimondo, Raimondo, Donald Trump, Sen, JD Vance, Vance, Trump, Xi Jinping's, Abbott, Jim Cramer's, ABT, Jim Cramer, Jim, Sebastien Bozon Organizations: Los Angeles Herald Examiner, Microsoft, Apple, Google, YouTube, Amazon, Nvidia, Siggraph, Federal Reserve, Mohawk Industries, Fortune Brands, Club, Democratic, Uber Technologies, titans, Department of Justice, Federal Trade Commission, Department of Commerce, Republican, Big Tech, Republican Party, Trump, Abbott Laboratories, Drug Administration, CNBC, AFP, Getty Locations: Los Angeles, Denver, Ray, California, U.S, Ohio, Taiwan, St, Louis , Missouri

☆ TikTok is betting its future on e-commerce. Should it?
▼ + stars: | 2024-07-26 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +8 min

From conversations with e-commerce analysts, TikTok Shop partners, sellers, and creators, it's clear that Shop is growing steadily in the US and driving meaningful sales for some brands. TikTok Shop is also showing strong momentum in regions outside the US that have embraced social shopping more, like Southeast Asia. Order-tracking platform Route saw global order volume on TikTok Shop grow a modest 35% between January and June. AdvertisementWhat's working for TikTok ShopWell-timed promotional campaigns and live selling have bolstered TikTok Shop's growth this year, agency sources told BI. TikTok Live has become an e-commerce hub for all types of sellers, including pre-owned luxury retailer What Goes Around Comes Around, which has a streaming studio in its store.

Persons: —, influencers, TikTok, it's, It's, Nicole Rechtszaid, Steele, Pena, Rechtszaid, Dan Whateley, Julian Reis, SuperOrdinary, Reis, we've, Michael Yamartino Organizations: Service, Business, TikTok Shop, TikTok, Ghost Agency, Amazon's, livestreams Locations: Southeast Asia, Paris, Maybelline New York, Asia, China

☆ Jim Cramer examines Wednesday's brutal tech sell-off
▼ + stars: | 2024-07-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer looked at what might have spurred Wednesday's Big Tech sell-offs, reviewing why investors may have been disappointed with earnings from Alphabet and Tesla . Cramer was impressed with the strength in the company's search business, as well as its Google Cloud revenue, which topped estimates at $10.35 billion. But Cramer said CEO Elon Musk "told a great story of self-driving technology, sorely needed energy production, not to mention humanoid robots." Cramer suggested both Alphabet and Tesla might not have declined if the market wasn't in the midst of a broader rotation out of tech. Cramer also examined stocks that have been seeing gains on the S&P 600 — the S&P's small cap index — as investors sell the mega caps.

Persons: CNBC's Jim Cramer, it's, Tesla, Cramer, Elon Musk Organizations: Big Tech, Nasdaq, Google, ATI, Ensign Group, SPS Commerce, Mueller

☆ Retailers shift their thinking on costly last-mile delivery as consumer need for speed raises costs
▼ + stars: | 2024-07-24 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Consumer need for speed in package delivery, which has reached its apex with same-day shipping, has placed retailers in a tough spot when it comes to managing transportation costs. Retail executives surveyed say as more — especially younger — consumers demand same-day delivery, the financial payoff isn't there. Roughly three-quarters (76%) of retail executives surveyed by AlixPartners said delivery cost on a per-package basis has increased since last year, and three out of four said home delivery does not add to profitability. 1 priority for last-mile delivery. To save on delivery costs, retailers are moving away from reliance on single carriers in last-mile delivery.

Persons: AlixPartners, Marc Iampieri, Iampieri Organizations: UPS, FedEx, Retail, Carriers, Teamsters Locations: Manhattan, New York City

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why U.S. outlets haven't recoveredOutlet malls have been a popular destination for bargain hunting Americans for nearly a century. But the pandemic and fierce competition from e-commerce giants like Amazon and Shein have been devastating for the near $65 billion industry. While full-price shopping malls have experienced a near full recovery from the pandemic, outlet malls are lagging far behind. Watch the video to learn what outlet companies like Simon Property Group and Tanger Outlets are doing to lure shoppers back.

Organizations: Simon Property

☆ Why outlets are lagging behind other mall categories in the U.S.
▼ + stars: | 2024-07-18 | by ( Darren Geeter | ) www.cnbc.com time to read: +1 min

Outlet malls have been an American staple for shoppers since the 1930s. Historically, outlets were attached to the factories where apparel was made, selling out-of-season, overrun or faulty merchandise at a discount to employees. In 2023, the U.S. outlet industry was a $64.9 billion industry, with 342 centers spread across the nation, according to IBISWorld. That's what draws them into our shopping centers," said Stephen Yalof, CEO of Tanger Outlets . Watch the video to learn why the outlet mall recovery is lagging behind other mall counterparts and how the industry is combating e-commerce shopping.

Persons: they're, Stephen Yalof Organizations: Tanger Locations: American, U.S

The Macy's company logo is seen at the Macy's store on Herald Square on January 19, 2024 in New York City. Macy's department-store chain announced that they will be laying off roughly 2,350 employees which is about 3.5% of their workforce. Arkhouse and Brigade had for months been attempting to buy out the storied retailer. Arkhouse, after its initial efforts had been rebuffed, said earlier this year it intended to mount a proxy fight for control of Macy's. But the legacy department store operator's efforts to grow sales have been stymied by high inflation, as consumers become more selective about spending on discretionary items.

Persons: Michael M, Macy's, Macy, Paul Varga, Arkhouse, Tony Spring, It's, Maxx, Spring Organizations: Getty, Brigade, Target Locations: New York City, Macy's, Bloomingdale's

☆ How bankruptcy saved Express
▼ + stars: | 2024-07-10 | by ( Ryan Baker | ) www.cnbc.com time to read: +1 min

Express has been a shopping mall staple since the 1980s. In recent years, Express has been squeezed by thin margins and declining shopping mall traffic, combined with the rise of the athleisure category during the pandemic. Bankruptcy has helped Express to stay in business, get out of old leases and even given it a chance to revive its fortunes. The new joint venture, called PHOENIX, received New York court approval for the acquisition of Express on June 14. Watch the video to find out more about the rise and fall of Express — and its likelihood of rising again under its PHOENIX owners.

Persons: Michael Weiss, Eric Beder Organizations: Consumer Research, CNBC, Express, WHP, Simon Property Group, Brookfield Properties, PHOENIX Locations: New York

☆ Etsy CEO says company is escaping 'race to the bottom' and getting back to its artisan roots
▼ + stars: | 2024-07-09 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Now Etsy CEO Josh Silverman wants the company, whose stated mission is to "keep commerce human," to get back to its roots. The company on Tuesday is launching a major overhaul of the policies that govern its site to make it "crystal clear" to shoppers what products belong on Etsy, Silverman said in an interview with CNBC. The changes include new labels on its website and app to show how each seller created a particular item. "We're positioning ourselves to answer the call for original goods and real people by dialing up the things that make Etsy, Etsy," Silverman said. In December, Etsy laid off 11% of its workforce, with Silverman citing the "very challenging macro and competitive environment" as reasons for the cuts.

Persons: Etsy, Josh Silverman, Silverman, It's Organizations: CNBC, Amazon, Nasdaq Locations: China

☆ Amazon's Asian rival Shein wants to be supply chain giant, but some fear Chinese cyber spying inside global trade links
▼ + stars: | 2024-07-08 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +13 min

Shein logistics software is in beta testing with select supply chain customers, according to a person familiar with its plans. "Shein's software could provide unprecedented access to sensitive supply chain data, which the Chinese government could seize under its laws. This exposure poses a direct threat to U.S. supply chain integrity, making it vulnerable to exploitation and manipulation." Even with a headquarters based in Singapore, company supply chain data could be subject to seizure by the Chinese. Shein's fast rise to dominance Shein's dominance lies in the company's hyper-flexible supply chain, according to a recent report from supply chain intelligence firm Zero100.

Persons: Jade Gao, Shein, cybersecurity, Lee Kair, Kair, Dewardric McNeal, McNeal, Ram Ben Tzion, Ben Tzion, Department of Homeland Security's, Shein's, Srini Cherukuri, Chris Xu's, Zero100, Eric Fullerton, Project44 Organizations: Shein, Afp, Getty, Transportation Security Administration, U.S, Authentic Holdings, Simon Property Group, Longview Global, Obama administration's Department of Defense, CNBC, Standards Organization, Secretariat, IAF, Microsoft U.S, EU, Social, International, Uyghur Forced Labor, Department of Homeland, Border Patrol, New York, ITS Logistics, Logistics Locations: Guangzhou, China's Guangdong, Jade, China, U.S, Exiger, Shein, Asia, Singapore, Frankfurt, Germany, Xinjiang Province, Customs, York, United States

☆ How 1.5 million plastic bottles are turned into clothing every day
▼ + stars: | 2024-07-03 | by ( David Valerio | Grant Tyler | ) www.businessinsider.com time to read: 1 min

Polyester is one of the most popular fabrics in the world. Made from PET plastic, it is prized for its durability, lightness, and low cost of production. While these characteristics make it ideal for various uses across the textile industry, the oversupply of polyester has also fueled an environmental disaster. Now, brands like Adidas, Nike, and Shein are trying to increase the amount of polyester made from recycled plastics — but is this the best use of old plastic? This story is available exclusively to Business Insider subscribers.

Organizations: Adidas, Nike, Business

☆ Inside Rudy Giuliani's bankruptcy spending: $100 on pizza, $4 polyester ties, and 'deep bronze' tanning lotion
▼ + stars: | 2024-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

They also include quite a few Amazon purchases, including cheap ties and "deep bronze" tanning lotion. For the first time, Giuliani disclosed the financial details of Giuliani Communications, the company he owns that produces his video livestreams on social media. On a monthly basis, Giuliani Communications spends more money than it makes — even before the WABC cancellation. Earlier filings were compiled by Joseph Ricci, an accountant whose firm was paid $4,000 by Giuliani Communications in May. Ricci has since declined to work on the banruptcy, Giuliani's lawyers have said.

Persons: —, Rudy Giuliani, Giuliani, Maria Ryan, it's, Donald Trump, Tanner, Bice, Giuliani —, Wandrea Moss, Ruby Freeman, Jose Luis Magana It's, Giuliani's, Mike Lindell, John Catsimatidis, Ryan Organizations: Service, New, New York City, Business, Giuliani Communications, New York, eBay, Verizon, Citi, AP, Giuliani's, WABC, Republican Locations: New York, Arizona, New York City, Amazon, Manhattan, Palm Beach, Washington , DC, MyPillow, American

☆ H&M plunges 13% on doubts over full-year margin target, June sales outlook
▼ + stars: | 2024-06-27 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Shares of H&M plunged more than 14% on Thursday morning after the company reported a smaller-than-expected increase in second-quarter profits and cast doubt over its June sales and full-year profit margin target. The world's second largest retailer said operating profit for the period between March and May came in at 7.1 billion Swedish kroner ($672 million), below the 7.37 billion Swedish kroner anticipated by analysts, according to an LSEG poll cited by Reuters. The second-quarter result was nevertheless above the 4.7 billion Swedish kroner recorded in the same period last year. Further weighing on stock, H&M CEO Daniel Ervér cast doubt over the company's ability to meet its margin target this year. "Our goal of an operating margin of 10 percent for full-year 2024 remains in place," he said.

Persons: Daniel Ervér, Inditex Organizations: Reuters Locations: London, Paris, Milan, Berlin, Stockholm, Hamburg, Munich, New York, Tokyo, Zara

☆ CNBC Daily Open: Amazon enters $2 trillion club
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury rose as investors parse comments from Fed officials and await key inflation data due Friday. $2,000,000,000,000Amazon's market capitalization surpassed $2 trillion for the first time on Wednesday, joining the ranks of tech giants like Apple and Microsoft. YouTube dominanceAlphabet's YouTube, the pioneer of user-generated content, continues to dominate media consumption, now accounting for nearly 10% of all TV viewership in the U.S.

Persons: Annie Palmer, Elliott Management, Sanjay Mehrotra, Rich Greenfield, Piper Organizations: CNBC, Dow Jones, Nasdaq, Nvidia, Apple, Microsoft, Southwest Airlines, Delta, Micron, YouTube, Nielsen, Netflix, Media, Disney, Warner Bros Locations: Shein, U.S

☆ CNBC Daily Open: Micron slides, Amazon's $2 trillion
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Micron slidesShares of Micron fell almost 8% in extended trading on Wednesday as its revenue forecast failed to top analysts' expectations. The stock rose 3.9% on Wednesday.

Persons: Sanjay Mehrotra, Annie Palmer, Elliott Management, Shunichi Suzuki, Australia's, Arjun Jayaraman Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Nvidia, Micron, Apple, Microsoft, Southwest Airlines, Delta, U.S ., Finance, CSI Locations: New York City, Shein, Asia, Pacific, India

☆ Amazon is trying to defend its kingdom against cheap Chinese rivals, and it thinks it has a plan
▼ + stars: | 2024-06-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Temu and Shein have been giving Amazon a run for their money with their ultra-low prices. But Amazon might just have a plan to fend them off — starting its own discount section. The Seattle-based giant is looking to ship a range of unbranded items directly from China to the US. That appears to be the gist of Amazon's new plan to fend off its Chinese rivals, Temu and Shein. According to the outlet, Amazon wants to ship a range of unbranded items directly from China to the US.

Persons: — Organizations: Amazon, Service, Business Locations: Seattle, China

☆ UK human rights group launches campaign to stop Shein's potential London IPO
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +1 min

UK-based human rights group Stop Uyghur Genocide has launched a legal campaign to block Shein's potential London listing over concerns about its labor practices, a law firm representing the campaign group said on Wednesday. UK-based human rights group Stop Uyghur Genocide has launched a legal campaign to block Shein's potential London listing over concerns about its labor practices, a law firm representing the campaign group said on Wednesday. Human rights law firm Leigh Day has written to the UK's Financial Conduct Authority to urge the regulator to refuse any attempt by Shein to list on the LSE, it said. Shein did not immediately respond to a Reuters request for comment, while the FCA declined to comment. On Tuesday, Amnesty International UK said Shein's potential London initial public offering would be a "badge of shame" for the London Stock Exchange because of the fast-fashion firm's "questionable" labor and human rights standards.

Persons: Leigh Day, Shein Organizations: Authority, LSE, Amnesty International, London Stock Exchange

☆ Shein and Temu use a US tax loophole to keep their prices low. Now, some American brands are, too.
▼ + stars: | 2024-06-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +7 min

De minimis shipments have also grown more popular with American brands looking to save money in their supply chains. AdvertisementThe startup Portless emulates Shein's model by fulfilling online brands' orders in China and shipping them directly to customers. Even though awareness of de minimis has grown, Section 321 shipments still account for only about 5% of ShipHero's business overall. At the end of May, The Information reported that US Customs and Border Protection had begun cracking down on de minimis shipments, including suspending several brokers from a program called Entry Type 86, designed to speed up de minimis shipments. "The American brands that we service are more profitable and do better prices to their customers."

Persons: —, it's, Portless, Izzy Rosenzweig, Jolie, Evan, Matt Nichols, JADE GAO, minimis, Prince Ghosh, Maggie Barnett, Barnett, Temu, I'm, Rosenzweig Organizations: Service, Business, Commerce Ventures, US, Lawmakers, Chinese Communist Party, Customs, Protection Locations: China, Portless, San Francisco, Canada, Mexico, American, Canada's

☆ Amazon plans to launch discount store in bid to fend off Temu and Shein
▼ + stars: | 2024-06-26 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon plans to launch a new section on its site dedicated to low-priced fashion and lifestyle items that will allow Chinese sellers to ship directly to U.S. consumers, CNBC has learned. Amazon's storefront will feature a range of unbranded items, many priced under $20, according to a presentation to Amazon sellers viewed by CNBC. In the past, Amazon sellers in China have relied on the company's fulfillment services, called Fulfillment by Amazon, to send goods to warehouses in the U.S. before they are dispatched to customers. The company pitched the arrangement as cost savings for Amazon sellers in China, and said merchants would be able to test new items through small-batch production. It is unclear when Amazon intends to debut the storefront, but the presentation notes it will start accepting products this fall.

Persons: Maria Boschetti, Boschetti Organizations: CNBC, Amazon, The Locations: New York, U.S, China, Shenzhen

☆ CNBC Daily Open: Dow jumps as investors rotate out of tech; Nvidia sinks
▼ + stars: | 2024-06-25 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow up, Nvidia sinksThe Dow Jones Industrial Average rose 260 points as investors rotated out of technology and into banking and energy stocks, such as Goldman Sachs and Chevron. He expressed concerns about potential criticism from former President Donald Trump if rate cuts occur before the election. "I suspect the market is probably more right than wrong when it says the rate cuts are likely to come after the election," he said. James Butterfill, head of research at CoinShares, attributes the sell-off to concerns over the number of rate cuts.

Persons: Dow, Goldman Sachs, David Rubenstein, Rubenstein, CNBC's Andrew Ross Sorkin, Donald Trump, Bitcoin, James Butterfill, Shein Organizations: CNBC, Nvidia, Dow Jones, Chevron, Nasdaq, Treasury, The Carlyle, Federal Reserve, Novo Nordisk Locations: Israel, Lebanon, Novo, North Carolina, Danish, London, U.S, Beijing, Singapore, China

☆ Fast fashion retailer Shein confidentially files for London IPO
▼ + stars: | 2024-06-24 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Shein, the fast fashion giant with links to China, has confidentially filed for a public listing in London as it faces backlash in the U.S., a person familiar with the matter told CNBC. Elected officials in the U.S. have repeatedly expressed concerns about the use of forced labor in Shein's supply chain and its use of a U.S. tax law exemption known as de minimis. Shein would still prefer to go public in the U.S., sources previously told CNBC, and its filing in London doesn't mean that an IPO will happen there. It's unclear if Beijing has signed off on the London listing. Shein's London filing marks another twist in the company's so-far long road to a public markets debut.

Persons: Shein, It's, Donald Tang, — CNBC's Sara Salinas Organizations: CNBC, U.S, National Retail Federation, U.S . Securities, Exchange Commission, Wall Street Journal, SEC Locations: China, London, U.S, Beijing, Singapore, Xinjiang

☆ China talks up support for IPOs. Investors are watching the speed of approval
▼ + stars: | 2024-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mike Segar | ReutersBEIJING — Chinese authorities this week announced new policy for supporting venture capital, raising hopes for faster approvals of initial public offerings in the near future. The new policy included a section on expanding exit channels for venture capital, with an emphasis on supporting companies with technological breakthroughs. Investors, especially those who put U.S. dollars into China-based venture capital funds, have preferred IPOs in the U.S. as the largest and most liquid market. Separately, the U.S. has increased its scrutiny of U.S. capital going into China, especially military-related entities. The China Securities Regulatory Commission has increased fines for misleading investors and clarified requirements for overseas IPOs.

Persons: Mike Segar, Marcia Ellis, Morrison Foerster, Ellis, Winston Ma, Ming Liao, Didi, Morrison Foerster's Ellis, Fang Xinghai, Fang Organizations: New York Stock Exchange, Reuters, State Council, U.S, Venture, NYU School of Law, Investors, Prospect, CNBC, China Securities Regulatory Commission Locations: Manhattan, New York City , New York, U.S, Reuters BEIJING, China, Prospect Avenue, Hong Kong, London

☆ How Gen-Z buyers are changing the bridal fashion business
▼ + stars: | 2024-06-21 | by ( Yola Mzizi | ) edition.cnn.com time to read: +9 min

A bridal look from Collina Strada, presented at New York Fashion Week in September 2022. Aurora Rose/ShutterstockA bridal look from Sandy Liang, presented at New York Fashion Week in February 2023. Avalon/dpa/picture alliance/Sipa USAMillennial and Gen-Z brides-to-be like de Quesada are no longer shopping for just a wedding dress, but an entire wardrobe for pre- and post-wedding events. That breadth is propelling the global bridal wear market, which is projected to grow at a rate of 3.5 percent annually and is expected to reach $83.5 billion by 2030, according to the Global Bridal Wear Market Industry report. Efren Landaos/Sipa USAFor an emerging designer like Wiederhoeft, bridal is something of a safety net, serving as “a floating line of credit” for the rest of their business.

Persons: —, Christyne de Quesada, ” de Quesada, “, ShuShu Tong, Vera Wang, Gabriella Arango, Gucci, Collina Strada, Aurora Rose, Sandy Liang, de Quesada, it’s, ”, Caroline Crawford Patterson, Dua Lipa, Simon Porte Jacquemus, Marco Maestri, Arnold Jerocki, Crawford Patterson, Anthropologie, It’s, Jackson Wiederhoeft, Wiederhoeft, “ It’s, Efren, Millennials, Hillary Taymour, Taymour, JP Yim, Andrew Kwon's, Rodin, Andrew Kwon, Kwon, Brigitte Chartrand Organizations: The, Fashion, CNN, New York, Avalon, Cion Investment Corp, Abercrombie, Fitch, Census Bureau, Pew Research Center, Designers, ” Retailers, Ssense Locations: Venice, Italy, Mexico City, Miami, Shanghai, Florida, Dua, Charleval, France, New York, New, New York City, “, Ssense

Search resuls for: "SHEIN"

25 mentions found