Condé Nast Pulls Investment from FarFetch Over Management Concerns| Industry Notes

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 ]

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Pandemic drives ebook and audiobook sales by UK publishers to all-time high

Printed book sales plunge in first six months of 2020 on back of shop and school closuresSee all our coronavirus coverageSales of digital books by British publishers are set to hit an all-time high this year as the public turns to reading to escape pandemic cabin fever.However, the ebook and... Continue reading at The Guardian

[ The Guardian | 2020-11-14 07:00:02 UTC ]
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Chirp Audiobooks Review: Does Chirp Change the Audiobook Game?

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[ Book Riot | 2020-11-13 11:34:00 UTC ]
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Alex Brown signs multi-book deal with HarperCollins

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[ The Bookseller | 2020-11-13 04:02:24 UTC ]
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[ The Bookseller | 2020-11-10 03:03:15 UTC ]
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Blue Ivy Carter adds to her resumé with 'Hair Love' audiobook narration

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[ Los Angeles Times | 2020-11-09 19:42:28 UTC ]
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Confessions on the 7:45 by Lisa Unger, Read by Vivienne Leheny

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[ Literrary Hub | 2020-11-09 18:14:36 UTC ]
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Blue Ivy Carter is narrating the audiobook adaptation of the short film Hair Love.

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[ Literrary Hub | 2020-11-09 18:06:17 UTC ]
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[ The Bookseller | 2020-11-08 20:58:09 UTC ]
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[ The Bookseller | 2020-11-08 16:02:51 UTC ]
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[ The Bookseller | 2020-11-05 06:45:52 UTC ]
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[ The Bookseller | 2020-11-03 15:31:19 UTC ]
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[ Literrary Hub | 2020-11-02 16:59:56 UTC ]
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[ The Bookseller | 2020-11-02 05:32:36 UTC ]
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[ The Washington Post | 2020-10-30 12:00:00 UTC ]
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[ Literrary Hub | 2020-10-29 15:18:37 UTC ]
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[ The Bookseller | 2020-10-29 10:43:11 UTC ]
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[ Literrary Hub | 2020-10-29 08:48:36 UTC ]
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[ Publishers Weekly | 2020-10-29 04:00:00 UTC ]
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[ The Bookseller | 2020-10-28 19:17:12 UTC ]
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[ The Bookseller | 2020-10-27 20:51:30 UTC ]
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