Bondholders Approve Saks Global’s Five-Year Business Plan
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
Nigeria
Global Markets
Africa’s Answer to Amazon on Balancing Speed with Discipline
Jumia has seized the e-commerce opportunity in dynamic markets from Nigeria to Egypt, though it didn’t see the growth rates analysts expected during the pandemic. Next year, the e-tailer will be even more disciplined about its path to profitability, says chairperson Juliet Anammah.
Africa’s Answer to Amazon on Balancing Speed with Discipline
Jumia has seized the e-commerce opportunity in dynamic markets from Nigeria to Egypt, though it didn’t see the growth rates analysts expected during the pandemic. Next year, the e-tailer will be even more disciplined about its path to profitability, says chairperson Juliet Anammah.
News & Analysis
Mastercard to Invest in Africa Online Retailer Jumia
The US credit card giant joins shareholders such as French drinks maker Pernod Ricard, MTN Group and Rocket Internet.
Mastercard to Invest in Africa Online Retailer Jumia
The US credit card giant joins shareholders such as French drinks maker Pernod Ricard, MTN Group and Rocket Internet.
Financial Markets
African E-Commerce Firm Jumia Files for IPO
The New York filing could value the company at $1.6 billion or more.
African E-Commerce Firm Jumia Files for IPO
The New York filing could value the company at $1.6 billion or more.
Technology
Orange to Invest in Nigerian E-Commerce Group Africa Internet
French telecommunications company Orange is to invest 75 million euro ($85 million) in Nigerian e-commerce group Africa Internet Group and become a shareholder, the two companies said on Tuesday.
Orange to Invest in Nigerian E-Commerce Group Africa Internet
French telecommunications company Orange is to invest 75 million euro ($85 million) in Nigerian e-commerce group Africa Internet Group and become a shareholder, the two companies said on Tuesday.
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News & Analysis
Nigeria’s Fashionistas Upset by Falling Oil Prices
"The drop in world oil prices is hitting the fashion-conscious women of Kano hard. The city in Nigeria's far north is a long way from the oilfields
Nigeria’s Fashionistas Upset by Falling Oil Prices
"The drop in world oil prices is hitting the fashion-conscious women of Kano hard. The city in Nigeria's far north is a long way from the oilfields
Technology
Rocket Internet's Jumia Goes Deeper into Africa
Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets: Uganda, Ghana and Cameroon.
Rocket Internet's Jumia Goes Deeper into Africa
Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets: Uganda, Ghana and Cameroon.
News & Analysis
Nigeria Surpasses South Africa as Continent's Biggest Economy
ABUJA, Nigeria — Nigeria has overtaken South Africa as Africa's largest economy after a rebasing calculation nearly doubled its gross domestic
Nigeria Surpasses South Africa as Continent's Biggest Economy
ABUJA, Nigeria — Nigeria has overtaken South Africa as Africa's largest economy after a rebasing calculation nearly doubled its gross domestic
News & Analysis
Rocket Internet’s E-commerce Startup Jumia Raises $35M as its Passes 500,000 Customers in Nigeria
"Jumia, the leading online retailer in Nigeria, has raised $35 million in fresh funding from Millicom to expand in its domestic market and move into
Rocket Internet’s E-commerce Startup Jumia Raises $35M as its Passes 500,000 Customers in Nigeria
"Jumia, the leading online retailer in Nigeria, has raised $35 million in fresh funding from Millicom to expand in its domestic market and move into
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Global Markets
Nigeria: Taking Africa's Giant Seriously
In a new series, Market GPS, BoF looks beyond the BRICs to the next tier of emerging market opportunities. First up, we examine Africa's giant, Nigeria.
Nigeria: Taking Africa's Giant Seriously
In a new series, Market GPS, BoF looks beyond the BRICs to the next tier of emerging market opportunities. First up, we examine Africa's giant, Nigeria.
News & Analysis
Estee Lauder M.A.C. Driving Sales From Nigeria to Brazil
"When Estee Lauder Cos. opened a store selling M.A.C. makeup in Lagos, Nigeria, this month, it didn’t have much company. Going where rivals aren’t is
Estee Lauder M.A.C. Driving Sales From Nigeria to Brazil
"When Estee Lauder Cos. opened a store selling M.A.C. makeup in Lagos, Nigeria, this month, it didn’t have much company. Going where rivals aren’t is
News & Analysis
Week in Review | Against Fast Fashion Collaborations, Joe Fresh's approach, Leutton Postle
Op-Ed | Making The Case Against Fast Fashion Collaborations (Opinion) "These underlying commercial motives are often obscured, however, by a
Week in Review | Against Fast Fashion Collaborations, Joe Fresh's approach, Leutton Postle
Op-Ed | Making The Case Against Fast Fashion Collaborations (Opinion) "These underlying commercial motives are often obscured, however, by a
News & Analysis
Retail theatre, Nigerian lace, Hilfiger eyes Michael Kors investment, Ferragamo IPO, Giles' playful disposition
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Retail theatre, Nigerian lace, Hilfiger eyes Michael Kors investment, Ferragamo IPO, Giles' playful disposition
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The News in Brief
Luxury Stocks Face Most Bearish Sentiment in Years, UBS Says
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Trump Signs Order to Combat Fraudulent ‘Made in America’ Labels, White House Says
The executive order directs the FTC chairman to prioritise enforcement of existing laws against sellers and manufacturers who falsely claim products are made in America.
Lanvin Deputy CEO Siddhartha Shukla Exits Brand
Owner Lanvin Group said it is ‘fully committed’ to the French label’s development under creative director Peter Copping, with CEO Andy Lew in charge of management.
Ulta Beauty Forecasts Annual Profit Below Estimates
Shares declined in after-hours trading as the beauty retailer expressed a cautious outlook for 2026.
Exclusive: Brita Invests in Shower Filter Firm Hello Klean
The German water filtration firm has acquired a minority stake in Hello Klean, which sells shower heads it claims mitigate the effects of hard water.
AII Launches Industry-First Tool Standardising Measurement of Carbon Emissions
The new tool published by the climate-focused nonprofit aims to create a standardised benchmark across textile facilities to accelerate fashion’s efforts to decarbonise.
Marco De Vincenzo Exits Etro
The creative director’s departure after four years was a decision of ‘mutual agreement’ according to the Italian label.