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Author: Retail Gazette

Shein set to raise £1.6bn ahead of potential US IPO later this year

Retail Gazette

The Chinese fast fashion giant is understood to have cut its valuation by a third to £53.8bn for the round. Shein is set to raise £1.6bn ($2bn) this month in a new funding round ahead of its potential IPO in the US later this year. The round’s major investors include United Arab Emirates’ sovereign wealth fund Mubadala as well as existing investors private equity firm General Atlantic (GA) and venture capital group Sequoia Capital China, Reuters reported. Tiger Global Management is understood to become a new investor, a move that would allow the…

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Amazon could face supplier lawsuits over competition law breaches

Retail Gazette

Amazon faces class action lawsuits by suppliers over alleged breaches of competition law. Amazon could soon be faced with several class action lawsuits from suppliers over alleged breaches of competition law and Groceries Supply Code of Practices. A group of high-profile lawyers have created The Responsible Online Commerce Coalition (ROCC), which is lining up evidence for claims, including that sellers do not have equal access to the platform, the freedom to set prices and offer discounts, and have no dispute resolution processes, The Grocer reported. The ROCC said it is hoping to gain support…

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John Lewis launches Chef Academy to support hospitality sector amid shortages

Retail Gazette

The John Lewis Partnership has become the first retailer to launch its own Chef Academy in a bid to help address the current shortage of qualified chefs across the country. A joint survey released recently by UKHospitality, the British Institute of Innkeeping, and the British Beer and Pub Association, revealed that 76% of operators within the sector currently have chef vacancies. The Partnership will be taking on up to ten apprentices this year with the potential to increase that number in the future as part of a long-term commitment to support…

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