In a retail climate that challenges independent retailers to grapple with the same technology requirements and customer expectations facing national chains, Montreal-based Lightspeed says its e-commerce and point of sale platform aimed at small and medium brick-and-mortar merchants is now processing $10 billion in annual transactions and reports a 123 percent increase in year-over-year bookings for its subscription-based services.Like Shopify, a Canadian retail technology company that closed its initial public offering at the end of May and reported $3.8 billion in transactions in 2014 from a customer base now numbering 162,000 merchants, Lightspeed offers cloud-based software that integrates online and in-store sales, inventory management and customer data. The company says the 24,000 merchants using its platform in 100 countries process an annual average of $600,000. They include DASH, Frank & Oak, Cynthia Rowley, Kinsley, Marie St. Pierre, Seedstore and Jean Shop.Independent retailers with physical stores are the company’s bread and butter, even as e-commerce growth outpaces total retail sales both in the U.S. and abroad, a trend expected to continue through 2018, according to eMarketer data.That’s because “the brand connection is best made in-store,” said Lightspeed founder and chief executive officer Dax Dasilva. For evidence, he pointed to online-first brands such as Bonobos and Warby Parker, which have followed initial visibility and growth online with physical presences that allow customers to see and purchase products in person.Dasilva is positioning his company not only as a cloud tool for brand consistency and omnichannel selling, but also a strategy for keeping pace with trends in payment and online security. In the run-up to an October deadline for retailer compliance with new chip-based EMV credit card technology, conceived on the part of credit issuers as a way to thwart breaches that have affected retailers from Goodwill to Target and Neiman Marcus in recent years, merchants are left to adopt new hardware capable of reading the cards or face liability for fraudulent transactions. At the same time, mobile checkout options such as Apple Pay are increasing in popularity. Lightspeed is hoping its ability to handle both will offer dual appeal to merchants.“Retail is going through a major transformation. Retailers have to become digital in the store and online,” Dasilva said.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)