Fiending for some fine Italian luxury? Fendi is the latest luxury retailer to take its range of high end ready-to-wear online, announcing this week that the brand will launch an eCommerce site in March of this year to countries in Europe with the Untied States to follow soon after. Amazon suffered a little embarrassment with their line of branded Amazon Elements diapers this week. The eCommerce giant had to pull the product from their website following considerable negative customer feedback. If you think your kid is the next Picasso, you can now get his or her work published thanks to startup Plum Print, who have just completed a funding round, raising $1 million. Video streaming service Netflix had a great year in 2014, with net income jumping 72% in Q4 of 2014 from $83 million on $1.305 billion, and membership up up 29%. For all the details from this week’s newsmakers read-on below!
More Luxury at the Click of a Mouse
We’ve covered luxury retail’s slow embrace of eCommerce lately, and now one of LVMH Moet Hennessy’s biggest brands, Fendi, is the latest label to get online. If you’re in the market for high end ready-to-wear get your wallets ready for this Spring. The label is already available to buy online through retailers like Neiman Marcus, Bergdorf Goodman, and Net-a-Porter, but now fans will be able to shop directly from a dedicated website eCommerce site. Customers from 28 different European countries will be able to order from the site that reportedly launches in March with delivery to the U.S. coming soon after. Fendi will be handling all of its logistics in house, according to CEO Pietro Beccari. Despite the fact that we’re seeing luxury retail brands like Fendi go digital, other huge names in the same retailer category, namely Chanel and Celine have yet to join in on the fun, but maybe that will change in the near future.
Amazon’s Diapers Stink
Source: Internet Retailer
Customer feedback is one of Amazon’s great features. Unfortunately for the eCommerce company, feedback for their own branded diapers…yes diapers, led to the product being pulled from the online store. Amazon representatives have stated that “Based on early customer feedback about Amazon Elements Diapers, we are making some design improvements”. This top internet retailer started to sell the diapers in December, which were only available to customers that subscribe to Amazon’s $99 per year Prime service. After Amazon introduced the diapers online to their customers the branded diapers began to receive reviews in the three to one star range. Clicking the link that once led to the pruchase page for the diapers now brings up a 404 error, however customers are still able to access Amazon Elements baby wipes. Hopefully when Amazon brings back their Elements branded diapers it will be a little less messy.
Now you Can get your Kid’s Artwork published!
Looking for an easy way to store your child’s masterpieces? Look no further – startup Plum Print recently raised $1 million to expand and grow its business. The company offers parents solution to keep artwork produced by their children, by putting together a photobook of art supplied by the parent’s. Parents are sent a postage-paid box in which they are to fill with anything created by their children, from paintings to pottery, to be published in the book. The funding round was led by a group of Angel Investors and by Brooklyn Bridge Ventures. Carolyn Lanzetta, previously an equity trader at JPMorgan and mom who was drowning in artwork created by her children came up with the idea for Plum Print. There are a few simple apps on the market but what separates Plum Print from the rest is that the company photographs the artwork on your behalf, resulting in a more professional end-product. Plum Print’s eCommerce site went live in 2012, and gained traction through word-of-mouth referral. In fact, 70% of the company’s customers in 2013 returned the following year. In the future Plum Print’s owners have discussed offering a SaaS style offering.
Netflix’s Performance Exceeds Expectations
Source: Internet Retailer
Net income for the popular video streaming service is reported to have jumped 74% in Q4 of 2014, moving from $83 million on $1.305 billion. In Q1 of this year internet users in Australia and New Zealand can look forward to finally having access to Netflix, as the company announced to launch in that region. Revenue for the company in Q4 of 2014 was up 35.7% from $962 million in Q4 2013, and the company’s customer base is up 29% compared to a year earlier. Netflix has big plans for 2015, with hopes to expand its service to major countries, trying to hit a goal of availability in 200 countries total – all while staying profitable. One of those major companies is China. In a letter to shareholders the company announced it’s still exploring its options within the country that is the largest market for e-retail sales. Netflix ranks No. 7 in Internet Retailer’s Top 500 Guide.