Here’s what you should know.

1. Walmart’s Jet.com to buy fashion retailer ModCloth for less than $75m

The deal, which had already been rumored, is almost finalized and will fetch a price tag between $50 million and $75 million.

Walmart has been snapping up smaller online retailers in recent months

The acquisition comes after a series of struggles for ModCloth, including several rounds of layoffs. The company saw little growth in 2014, and reduced its engineering team to just over half a dozen.

Walmart explained that it’s increasingly interested in the apparel category, given it’s now one of the largest for online retail.

Read the rest of the story here.

 

2. fast fashion brand Zara to launch ecommerce in Thailand

It seems that Zara is doubling down on ecommerce in Asia, having launched its online website in Singapore and Malaysia earlier this month. Thailand and Vietnam’s stores will launch within the next few weeks, with India following later this year.

Zara’s  business model allows it to get clothes to stores much faster than its rivals, who prioritize low-production costs and outsource manufacturing to China, and can react more quickly to shifting consumer tastes without holding excess inventory.

Read the rest of the story here.

 

3. Recommended Reading: The 2017 Indonesian startup popular sector forecast

DailySocial conducted a survey with a number of investors about which sectors are going to be hot, and what their focus in 2017 will be. Along with predictions, ecommerce influencers also share their two cents:

“From year to year, ecommerce services and online transactions will become part of Indonesians’ day-to-day activities,” says William Tanuwijaya, CEO of Tokopedia.

Read the rest of the story here.

 

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