Japan-based online marketplace Rakuten is
leading a $100 million investment in social network
Pinterest, with participation from existing
investors Andreessen Horowitz, Bessemer Venture Partners, and
FirstMark Capital, as well as a number of angel investors. The
funding marks the start of a strategic partnership between
Rakuten and Pinterest to help the network expand in Japan and
into Rakuten’s 17 other global markets.
Multichannel retailer White Stuff has announced
a raft of managerial appointments that see Moss
Bros chairman Debbie Hewitt join as chairman; Nick
Mather join as chief financial officer from La
Senza; former House of Fraser director
of merchandising Jo Penny appointed merchandising director;
Antonia Long, who has held roles at House of Fraser,
Coast and Oasis is made buying and
design director, while Ian McMillan is named IT director, joining
from the Change Management Group. White Stuff also revealed that
Katie Grassby has stepped down from the overall leadership of the
buying and design function to become style director, while Vince
Gwilliam steps down as chairman to take on a senior nonexecutive
role. Richard Steele, currently finance director, leaves the
company at the end of June. Led by chief executive Sally Bailey,
White Stuff plans to open at least six new shops in the next
financial year, as well as pursue international
opportunities.
French Connection has issued a profits warning
after group revenue in the first three months of the financial
year was 9.5 per cent below the level achieved in the same period
last year, heavily dented by disappointing sales volumes in the
UK/Europe division. Sales in the UK/Europe retail division were
10 per cent below last year in total and 12 per cent lower on a
like-for-like basis. The company is in the midst of a review of
its UK and European retail operations having appointed external
advisors to support the management team in the process.
Sainsbury’s has launched a mobile version of its
online groceries shopping website, enabling consumers to have
full access to all Sainsbury’s products from their phones and
handheld devices. In addition, with Sainsbury’s click and collect
service, customers can place a non-food order using their mobile
phone by 2pm on a weekday for next day delivery and collection
from one of its 870-strong store network.
Some 2,800 Clinton Cards employees are likely to
lose their jobs as the administrator announces store closures.
The Guardian writes that a decision has been made
to shutter 350 Birthday stores.
Yell has taken a step forward in its strategy to
create a “local emarketplace” with the acquisition of
web design and shop-building tools provider
Moonfruit for approximately $28.8 million. Yell
is acquiring Moonfruit’s technology as well as its technical and
design teams. Moonfruit.com will remain a sub-brand. Nearly five
million websites and 230,000 online shops, mainly in the UK and
US, have been created using Moonfruit.com technology.
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