Condé Nast Pulls Investment From FarFetch [caption id="attachment_161701" align="alignright" width="150"] José Neves[/caption] Condé Nast pulled its nearly $300 million investment in the London-based luxury fashion retail marketplace FarFetch, following concerns about the management of the platform. Founded in 2008 by Portuguese billionaire José Neves, who now serves as the company’s CEO and co-chairperson, FarFetch received an early investment of £234 million ($293 million) from Condé, and in 2017, entered into an affiliate link-based partnership with the publisher in return 6% of its shares. But the publishing house, according to The Times, was disconcerted by the amount FarFetch was spending on its marketing strategy and has since gotten rid of its stake in the company. FarFetch, which makes its money by serving as an intermediary between retailers and consumers, and taking a 25% commission from each sale—similar to Net-a-Porter’s business model—is apparently seeing mounting losses. According to its 2019 Q1 report, the company’s gross merchandise value increased by 44% YOY to $415 million and it saw revenue earnings of $146 million, but its losses after tax rose to $109 million from the $50.7 million loss it saw in the same period last year. Condé chairperson Jonathan Newhouse also stepped down from FarFetch’s board of directors in March. Industry Dive Takes on the Banking Industry On Monday, Industry Dive, the Washington, D.C.-based B2B publisher that covers... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2019-07-09 18:18:07 UTC ]
The National Books Awards returned in full force on November 16, 2022 for a night of in-person glitz after two years of virtual ceremonies. In front of white tents where the literati gathered for photos on the red carpet, publishing workers with the HarperCollins Union, standing in the cold,... Continue reading at Electric Literature
[ Electric Literature | 2022-11-18 12:06:00 UTC ]
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The HarperCollins Union's demands are for better pay, diversity initiatives, and more security for unionized workers. Continue reading at Book Riot
[ Book Riot | 2022-11-17 17:29:17 UTC ]
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To further capitalise on the popularity of BookTok the social media giant will let users purchase titles through partnerships with publishers and retailersTikTok has proved to be a hugely successful way to promote books in recent years, with publishers attributing the popularity of books such as... Continue reading at The Guardian
[ The Guardian | 2022-11-17 16:49:24 UTC ]
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In a star-studded night that celebrated more than 40 publishing professionals, Tordotcom Publishing editor Ruoxi Chen walked away with the top prize and used her moment to call attention to the HarperCollins union strike. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-16 05:00:00 UTC ]
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The new arrangment for Usborne's children's books sees HarperCollins taking over trade back-office functions by February 1. The post England’s Usborne and HarperCollins Announce American Distribution Deal appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-11-14 21:10:20 UTC ]
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Today’s edition of Mystery Daily Deals is sponsored by the audiobook edition of Murder at Black Oaks by Phillip Margolin`the audiobook edition of Murder at Black Oaks by Phillip... Continue reading at Book Riot
[ Book Riot | 2022-11-14 15:11:26 UTC ]
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As you may have seen on Book Twitter today, the unionized workers of HarperCollins are striking to secure a fair contract, livable wages, and a more equitable publishing industry. Some 250 employees—across the editorial, publicity, sales, marketing, legal and design departments—agreed to go on... Continue reading at Literrary Hub
[ Literrary Hub | 2022-11-10 19:23:57 UTC ]
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Workers at the only ‘big four’ publisher to have a union authorize indefinite strike over low wages and diversityStephanie Guerdan started working in the children’s book department of HarperCollins Publishers six years ago. It was a dream job – just not a dream paycheck. The $33,500-a-year... Continue reading at The Guardian
[ The Guardian | 2022-11-10 18:03:45 UTC ]
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A representative for unionized employees called negotiations with the publisher 'disheartening,' and said that there are no bargaining sessions planned after latest proposal rejection. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-09 05:00:00 UTC ]
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Spotify launched its audiobook business just last month with 300,000 titles, but is now saying that Apple is engaging in "anticompetitive" behavior that is impinging the new business, the company wrote in a blog post. It said that Apple rejected its audiobook purchasing system three times due to... Continue reading at Engadget
[ Engadget | 2022-10-26 07:02:10 UTC ]
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Every Monday through Friday, AudioFile’s editors recommend the best in audiobook listening. We keep our daily episodes short and sweet, with audiobook clips to give you a sample of our featured listens. Golden Voice narrator George Guidall compellingly narrates Craig Johnson’s latest Longmire... Continue reading at Literrary Hub
[ Literrary Hub | 2022-10-24 13:48:59 UTC ]
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General Motors has been in business for more than a century, but in its 112 years, the company has never faced such challenges as it does in today's rapidly electrifying and automating industry. The assembly line jobs from Detroit's heyday have been replaced by legions of automated industrial... Continue reading at Engadget
[ Engadget | 2022-10-23 14:30:06 UTC ]
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The former president warned: "We've already hired the lawyers" to sue the prominent journalist. Continue reading at HuffPost
[ HuffPost | 2022-10-22 01:40:50 UTC ]
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Among issues discussed in audiobook market development: more business models and Spotify's entry with à la carte pricing. The post At Frankfurt: ‘Many Different Approaches for Publishers’ to Audiobooks appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-10-20 23:29:00 UTC ]
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The unionized employees of HarperCollins voted to authorize a strike on Monday, November 7, after the two parties failed to reach an agreement after months of negotiations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-18 04:00:00 UTC ]
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Frankfurt's Agora is the setting for a TikTok stage this year, emphasis on #BookTok and its community of book fans and readers. The post TikTok and Frankfurter Buchmesse Open a New Collaboration appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-10-13 20:22:25 UTC ]
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Faced with slowing industry sales and rising costs, HarperCollins has eliminated what it called a "small number" of positions, and instituted a number of other measures in a bid to "operate as efficiently as possible," CEO Brian Murray announced to employees on October 13. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-13 04:00:00 UTC ]
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BookBeat, based in Sweden, is offering usage-time audiobook subscriptions in both its new markets, Italy and Spain. The post Audiobooks: Bonnier’s BookBeat Opens in Spain and Italy appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-10-12 19:40:00 UTC ]
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Landover, Md.-based audiobook publisher RBmedia has continued its push in the international market with the acquisition of John Verlag’s German-language audiobook catalog. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-06 04:00:00 UTC ]
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HarperCollins has acquired Maine independent publisher Cider Mill Press. Cider Mill will become part of the HarperCollins Focus group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-04 04:00:00 UTC ]
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