Debenhams Group links with Mangopay "to power marketplace growth"
The multi-year partnership will debut on the Debenhams marketplace 'as the group continues to scale its digital capabilities' and we're told the move 'will enable the brand to simplify payouts, enhance operations and create a future-ready foundation for seamless multi-vendor commerce'.
The news comes just a week after the online retail group announced a deal with Amazon Web Services 'to scale up its AI-driven tools' across its brands. And late last month it said it was enhancing its delivery service for an array of its brands through a partnership with InPost.
Now this deal with the Luxembourg-based payments specialist will see Debenhams integrating Mangopay's technology 'to enhance the way Debenhams manages multi-seller payments and real-time fund distribution on the platform, as well as the automation of reconciliation and invoicing.'
According to a recent Mangopay report, 43% of platform users prefer to pay and get paid via built-in wallets. 'As companies like Debenhams Group continue to embrace these shifts, they position themselves at the forefront of digital commerce by delivering flexible, intuitive, and efficient financial experiences across their ecosystems,' it said.
Debenhams operates a fast-growing marketplace that connects customers with over 15,000 premium brands and CEO Dan Finley said: 'As an online business, we're constantly evolving to meet the needs of modern retail, from how customers shop, to how sellers transact. Mangopay offers the flexibility and strategic insight we need to optimise our marketplace operations. Their wallet-based infrastructure integrates effortlessly with our existing systems, allowing us to unlock efficiency without disruption.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
4 hours ago
- Fashion Network
Birks annual sales fall 4%
Canadian jeweler Birks Group saw sales for fiscal 2025 fall 4% to $177.8 million, on the back of a slow performance in the company's retail channel. The Montreal-based company said retail sales were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. The decrease was partially offset by an increase in branded timepiece sales throughout the retail network. Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024, again mainly due to lower third-party branded jewelry sales, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. The company clocked a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces,' said Jean-Christophe Bédos, president and chief executive officer of Birks Group. 'In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results."
Fashion Network
5 hours ago
- Fashion Network
Birks annual sales fall 4%
Canadian jeweler Birks Group saw sales for fiscal 2025 fall 4% to $177.8 million, on the back of a slow performance in the company's retail channel. The Montreal-based company said retail sales were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. The decrease was partially offset by an increase in branded timepiece sales throughout the retail network. Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024, again mainly due to lower third-party branded jewelry sales, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. The company clocked a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces,' said Jean-Christophe Bédos, president and chief executive officer of Birks Group. 'In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results."
Fashion Network
5 hours ago
- Fashion Network
Birks annual sales fall 4%
Home › News › Business Download Print Canadian jeweler Birks Group saw sales for fiscal 2025 fall 4% to $177.8 million, on the back of a slow performance in the company's retail channel. Birks annual sales fall 4%. - Birks The Montreal-based company said retail sales were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. The decrease was partially offset by an increase in branded timepiece sales throughout the retail network. Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024, again mainly due to lower third-party branded jewelry sales, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. The company clocked a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces,' said Jean-Christophe Bédos, president and chief executive officer of Birks Group. 'In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results." Copyright © 2025 All rights reserved. Tags : Luxury Watches Jewellery Business
