4. Race in opposition to time as A.S. Watson ramps up retail know-how funding
Health and beauty retailer, A.S. Watson, is investing an extra $115 million in know-how this yr to speed up digital transformation and supply of its O+O (on-line and offline) platform technique.
Key focus areas embody its in-house eLab and TECHLab initiatives, and additional constructing machine studying, synthetic intelligence, Huge Information and retail know-how capabilities.
5. Ceaselessly 21’s dad or mum firm sues Bolt and finally ends up changing into a shareholder
A lawsuit that was filed in opposition to one-click checkout startup Bolt by one in every of its greatest clients might be dismissed following the 2 events thrashing out a settlement.
And in an added twist to the story, the identical buyer — Genuine Manufacturers Group (ABG) — is now a shareholder of the corporate.
In keeping with a press launch, “each firms plan to proceed the partnership providing seamless, one-click checkout to ABG’s manufacturers Forever 21 and Fortunate Model, whereas evaluating the opportunity of increasing Bolt’s know-how to extra portfolio manufacturers within the coming months.”
It’s a far cry from earlier this yr when ABG alleged that Bolt didn’t ship know-how as promised and that it missed out on over $150 million in on-line gross sales throughout an integration with Ceaselessly 21.
ABG additionally claimed that Bolt had raised funding “at more and more excessive valuations” by “constantly overstating” the character of its integrations with the corporate’s manufacturers in order that it regarded prefer it had extra clients than it really did.
Bolt hit again by stating that the claims had been with out benefit, and “a clear try” to renegotiate the phrases of the businesses’ agreements.