H&M, the Sweden-based fashion retailer, has taken a strategic move to compete with Shein, the Chinese discount e-retail upstart that experienced significant growth during the pandemic. H&M has lowered the prices of its clothing, with ribbed crop tops now available for only $1.70, a 70% markdown from their usual price of $4.99. Shein, known for …
Amazon is strategically hiring former Federal Trade Commission (FTC) officials in preparation for an anticipated antitrust battle with the agency. According to sources, Amazon has already recruited around a dozen former FTC officials. This move is seen as a way for Amazon to gain valuable intelligence on its opponent and gather insights into the inner …
Overstock.com has successfully acquired Bed Bath & Beyond’s brand name, intellectual property, and ecommerce platform for a total of $21.5 million. The purchase was approved by a US bankruptcy judge, Vincent Papalia, who expressed satisfaction at finding a bidder that would preserve Bed Bath & Beyond’s brand. This acquisition allows Overstock to relaunch the Bed …
The Integrity, Notification, and Fairness in Online Retail Marketplaces (INFORM) for Consumers Act, a bipartisan legislation aimed at combating organized retail crime on online marketplaces like Amazon and Facebook, went into effect on Tuesday. The law requires online marketplaces to protect consumers from counterfeit, unsafe, and stolen goods by implementing measures against bad actors. The …
Lululemon, the well-known athletic apparel company, is struggling to find a buyer for its fitness product, Mirror. Despite slashing the device’s value by nearly 90%, the company has yet to attract any interested buyers, according to insiders familiar with the situation. Last year, at the height of the pandemic-induced exercise craze, Lululemon purchased Mirror for …
New York Attorney General Letitia James took to Twitter to express her disapproval of Target’s decision to remove LGBTQ-themed merchandise from its stores. In a tweet, she stated that the move is “wrong” and urged the retailer to reverse its decision. This comes after at least 14 New York officials signed a letter expressing their …