It operates many big-box format stores across the United States (including the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands); all 10 provinces of Canada; and all 32 Mexican states and Mexico City. MRO company Interline Brands (now The Home Depot Pro) is also owned by The Home Depot, with 70 distribution centers across the United States.

History

1978–1999

The Home Depot was co-founded by Bernard Marcus, Arthur Blank, Ron Brill, Pat Farrah, and Ken Langone in 1978.^[6][7][8] The Home Depot’s proposition was to build home-improvement superstores, larger than any of their competitors’ facilities. Investment banker Ken Langone helped Marcus and Blank to secure the necessary capital.

Bernie and I founded The Home Depot with a special vision – to create a company that would keep alive the values that were important to us. Values like respect among all people, excellent customer service and giving back to communities and society^[9]

— Arthur Blank

The Home Depot Atlanta Store Support Center, 2018.

In 1979, the first two stores, built in spaces leased from J. C. Penney that were originally Treasure Island “hypermarket” (discount department and grocery) stores, opened in metro Atlanta (in Doraville and on Memorial Drive in Decatur, both near I-285)^[10] on June 22, 1979.^[11][12] On September 22, 1981, The Home Depot went public on the NASDAQ and raised $4.093 million. The Home Depot joined the New York Stock Exchange on April 19, 1984.

The Home Depot began to branch out of Georgia to Florida in 1981 with stores opening in Hollywood and Fort Lauderdale. By 1984, The Home Depot was operating 19 stores with sales of over $256 million. To enter the Dallas market The Home Depot acquired Bowater Home Center from Bowater Inc. on October 31, 1984, for $40 million. The increased expansion of The Home Depot in the mid-1980s created financial difficulties with earnings falling by 42% and debt rising to $200 million. The financial difficulties of The Home Depot also caused the stock price to fall. To curb The Home Depot difficulties it opened only 10 stores in 1986 with a stock offering 2.99 million shares at $17 per share which helped The Home Depot to restructure its debts.

The Home Depot in Markham, Ontario, Canada

In 1989, The Home Depot became the largest home improvement store in the United States, surpassing Lowe’s. In the 1990s The Home Depot searched for ways to redefine its marketplace. An installation program for quality home improvement items, such as windows or carpets, was launched in 1991 called the EXPO with success. A 480-page book Home Improvement 1-2-3 was published in 1995. The Canadian hardware chain Aikenhead’s Hardware was acquired by The Home Depot in 1994 for $150 million with a 75% share. All of the Aikenhead’s Hardware stores were later converted to The Home Depot stores. By 1995, sales reached $10 billion while operating 350 stores.

Former General Electric executive Robert Nardelli became CEO and president of The Home Depot in 2000.

2000–2007

San Diego maintenance and repair supplies company Maintenance Warehouse was purchased by The Home Depot in 1997 for $245 million. Maintenance Warehouse was purchased because it was a leading direct-mail marketer of maintenance, repair and operations supplies that could reach customers out of reach by The Home Depot. Atlanta-based company Apex Supply was acquired by The Home Depot in 1999. Apex Supply is a wholesale distributor of plumbing, HVAC, industrial pipe and fittings. Apex Supply and Maintenance Warehouse were rebranded in 2004 as “The Home Depot Supply.”

In 2004, Home Depot employees at a suburban Detroit store in Harper Woods, Michigan, rejected a bid to be represented by a labor union, voting 115 to 42 against joining the United Food and Commercial Workers. If the union had won, the Michigan store would have been the first Home Depot to have union representation.

Your Other Warehouse, a large plumbing distributor with a focus on special order fulfillment, was acquired by The Home Depot in 2001. Your Other Warehouse also supplied two divisions of The Home Depot and the EXPO Design Centers. The “EXPO Design Center” division was reorganized in 2001 with three divisions based in the Northeast at South Plainfield, New Jersey, the West at Orange, California, and the Southeast at Atlanta, Georgia.

The Home Depot entered the Mexican market in 2002 with the acquisition of the home improvement chain Del Norte. In addition, The Home Depot had begun construction of stores in Mexicali and Tijuana. In the same year the Home Depot Landscape Supply was launched to integrate professional landscapers and upscale plants into a plant nursery retail chain. Home Depot Landscape Supply lasted only five years with only a few stores each in metro Atlanta and Dallas/Fort Worth. The Home Depot decided to close all Home Depot Landscape Supply stores in late 2007.

In September 2005, Home Depot Direct launched its online home-furnishings store, 10 Crescent Lane, shortly followed by the launch of “Paces Trading Company,” its online lighting store. In mid-2006, the Home Depot acquired Home Decorators Collection, which was placed as an additional brand under its Home Depot Direct division.

In 2006, the Home Depot acquired Hughes Supply the largest home retailer in the United States for $3.2 billion. Hughes Supply was integrated into The Home Depot Supply to better serve business-to-business customers. The Home Depot Supply rebranded under the new name HD Supply in January 2007.Five months later The Home Depot sold HD Supply to a consortium of three private equity firms, The Carlyle Group, Bain Capital and Clayton, Dubilier and Rice (with each agreeing to buy a one-third stake in the division).

2007–present

On January 2, 2007, the Home Depot and Robert Nardelli mutually agreed on Nardelli’s resignation as CEO after a six-year tenure. Nardelli resigned amid complaints about his heavy-handed management and whether his pay package of $123.7 million (excluding stock option grants) over the previous five years was excessive, considering the stock’s poor performance versus its competitor Lowe’s. His severance package of $210 million was criticized because when the stock went down, his pay went up.

Center aisle of a Home Depot store in 2014

His successor, Frank Blake, previously served as the company’s vice chairman of the board and executive vice president. Blake agreed to a much more conservative compensation package than Nardelli, which is very heavily dependent upon the success of the company. Although a longtime deputy to Nardelli at GE and Home Depot, Blake was said to lack Nardelli’s hard edge and instead preferred to make decisions by consensus. Indeed, Blake repudiated many of his predecessor’s strategies, and it has been reported that the two men have not spoken since Nardelli departed Home Depot.

In 2008 and 2009, with the downturn in the housing market, The Home Depot announced the layoff of several thousand associates, as well as the closing of 54 stores nationwide, including the entire EXPO Design Center chain. Associates at EXPO were allowed to re-apply for Home Depot jobs after the layoffs, and did not lose any tenure if hired back. In the year of February 2009, sales totaled $71.288 billion, more than $20 billion down from the peak of two years earlier due to the sale of HD Supply and falling revenue at the retained business. In 2012, they proceeded to close the big-box style stores that they had in China, however smaller stores that specialized in custom products and focused on more intimate interactions between customers and associates remain open there.

In 2013, The Home Depot established two large distribution centers in Atlanta and Los Angeles.

Interline Brands headquarters in Jacksonville, Florida

In August 2014, it was announced that Frank Blake would step down as CEO and would be replaced by 57-year-old Craig Menear. The change occurred on November 1, 2014. Blake would continue with the company as chairman. Menear joined The Home Depot in 1997, and served in various management and vice-presidential positions, until 2003, including merchandising vice president of hardware, merchandising vice president of the Southwest Division, and divisional merchandise manager of the Southwest Division. He subsequently served as senior vice president of merchandising from August 2003 to April 2007. He then served as an executive vice president of merchandising from April 2007 to February 2014. Until becoming CEO, Menear served as president of U.S. Retail from February 2014 to November 1, 2014.

The company had a data breach in September 2014.One major reason for the data breach was the practice of entering credit card numbers directly into computers at the service-desk and pro-desk, and in specialty departments including flooring, kitchen cabinets, appliances, and millwork, rather than using POS credit card terminals directly. The practice was stopped, and Home Depot offered a year of free credit monitoring through AllClearID for any customers who requested it. There were also reports of credit card numbers being stolen when used to make purchases on Homedepot.com.

On July 22, 2015, Home Depot acquired Interline Brands from P2 Capital Partners, Goldman Sachs’ private equity arm, and the management of Interline Brands for $1.6 billion. Interline Brands became fully integrated with The Home Depot in August 2016 with the Interline Brands website merging with The Home Depot website. The subsidiaries of Interline Brands are now companies of The Home Depot.

In 2017, Home Depot acquired the online presence of The Company Store from Hanover Direct. The Company Store was founded in 1911, operating primarily as catalog and online sales, but with five physical locations. The five physical locations were not included in the deal.

In January 2022, The Home Depot announced Craig Menear would be stepping down as the CEO and president effective March 1, 2022 while continuing to serve as the chairman of the board. He was replaced by former executive vice president Ted Decker.

Finances

As of 2020, Home Depot is ranked #26 on the Fortune 500 rankings of the largest United States corporations by total revenue.

For the Q2 of 2020, the company reported sales of $38.1 billion, which represented a growth of 23.4% from the same period, the previous year. The net earnings for the period of three months (ending August 2) rose 27% up to $4.3 billion. The growth in the sales was a result of Americans staying at home as a result of the COVID-19 pandemic. In the Q3 for 2020, ending November 1, Home Depot reported a revenue of $33.5 billion; it represents a year-on-year increase of 24 per cent.

Carbon footprint

The Home Depot reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 1,821 Kt (-127 /-6.5% y-o-y).^[48] Reported emissions have been on a declining trend since 2016.

As of 31 December 2021, Etsy had over 120 million items in its marketplace, and the online marketplace for handmade and vintage goods connected 7.5 million sellers with 96.3 million buyers. At the end of 2021, Etsy had 2,402 employees. In 2021, Etsy had total sales, or Gross Merchandise Sales (GMS), of US$13.5 billion on the platform. In 2021, Etsy garnered a revenue of US$2.3 billion and registered a net income of US$493.5 million. The platform generates revenue primarily from three streams: its Marketplace revenue includes a fee of 6.5% of final sale value, which an Etsy seller pays for each completed transaction, on top of a listing fee of 20 cents per item; Seller Services, Etsy’s fastest growing revenue stream, includes fees for services such as “Promoted Listings”, payment processing, and purchases of shipping labels through the platform; while Other revenue includes fees received from third-party payment processors.

General

Selling

Creating a shop on Etsy requires creating and posting at least one listing in the shop which costs $0.20. Each listing will remain on the shop’s page for a maximum of 4 months, or until someone buys the product. The prices of products are set by the shop owner, but Etsy claims 6.5% of the final sale price of listing and 5% of postal fee. Shop owners are sent a bill at the end of every month detailing the fees Etsy has charged them, and they have until the 15th of the following month to pay the fees.Sellers can choose which payment options to offer buyers, including credit cards, debit cards, and PayPal, among others.

Buying

On the Etsy homepage, potential buyers can type a “product description” into the search bar, or, alternatively, they can “browse” through a list of options on the left side of the homepage, which includes Art, Home & Living, Jewelry, Women, Men, Kids, Vintage, Weddings, Craft Supplies, Trending Items, Gift Ideas, Mobile Accessories, and more. Furthermore, buyers may choose from a list of categories by clicking on the “categories” link under “More Ways to Shop”. This will bring the user to a page of over 30 categories, each containing subcategories.

When a buyer views a product, they can choose to view the positive percentage feedback of each seller to determine the reliability of the shop. Once a buyer finds a product they would like to buy, they click “Add to Cart”, and that product is added to their virtual “Shopping Cart”. The buyer may then either continue shopping, or purchase the selected item. In order to purchase items, buyers do not have to have an account with Etsy, and can instead register with a Facebook or Google account.

Etsy has received criticism for its handling of customer data and privacy as of 2016, according to the “Privacy Policy” section on the website: “By using Etsy, you authorise Etsy to use your information in the United States, Ireland and any other country where Etsy operates”.

Operations

Etsy is popular as a side-business, as well as a place to buy goods made from recycled and upcycled materials, along with less expensive or more unusual versions of mass-produced items. The unique nature of many of the items for sale is part of their appeal to some shoppers. Product photos on Etsy tend to be editorial or artistic instead of commercial catalog style. Sellers can add 13 tags to their products to help buyers find them, and buyers can choose to search for items available locally. Etsy staffers publish lists of featured items.

Most sellers are women, who tend to be college-educated and in their twenties and thirties. Individual Etsy sellers decide which payment options to offer buyers; these options may include credit card, cheque, money order, PayPal, bank transfer, and Etsy gift card.

Etsy sellers range from hobbyists to professional artists who use the site to make a living. According to artists who have developed their Etsy stores into their primary jobs, scaling up production of handmade items can require more than full-time work, especially during the holiday shopping season.

Etsy’s main office is in Dumbo, Brooklyn, and it has hosted open crafting classes in the “Etsy Labs”.The site’s technology, customer support, marketing, PR, business, and communications teams operate out of this office. Etsy Labs has a workspace that provides equipment and donated materials, where members gather to make items, take and teach workshops, and attend special events. Etsy also has an office in Berlin.In April 2012, Etsy announced that it was taking steps to hire more women engineers to improve the gender balance of its team, as a website with majority women users but few women engineers. By 2019, 30 percent of Etsy’s engineers identified as “women or non-binary”, and over 30 percent were people of color.

Etsy was one of the main members of the Handmade Consortium, a 2007 effort to encourage buying handmade holiday gifts. Etsy has partnered with the retail chain West Elm to sell some Etsy products in its stores. In December 2012, Etsy opened a temporary holiday storefront in SoHo, New York City. In 2019, the UK’s first Etsy store was opened in Didcot, Oxfordshire. The store features over 50 local makers & small businesses and an eco refill station, selling packaging free groceries including dry foods, toiletries, and cleaning products.

History

2005–2014

Etsy staff at work, July 2010

Art in the Etsy office in Brooklyn

Etsy office in Dublin

The site was launched in 2005by iospace, a small company composed of Robert Kalin, Chris Maguire, and Haim Schoppik. The initial version had taken two and a half months to build. Later Jared Tarbell joined the team. Former NPR executive Maria Thomas joined as COO in 2008, was promoted to CEO and left Etsy in December 2009. Robert Kalin resumed his role as CEO from December 2009 until July 2011. Investors include Sean Meenan, Albert Wenger, Spencer and Judson Ain, Union Square Ventures, and founders of Flickr and Delicious.

Kalin said that he named the site Etsy because he “wanted a nonsense word because I wanted to build the brand from scratch. I was watching Fellini’s 8 ½ and writing down what I was hearing. In Italian, you say etsi a lot. It means ‘oh, yes’ (actually it’s “eh, si“). And in Latin and French, it means ‘what if’.” In Greek, Etsy means “just because”.

In Etsy’s first year, it attracted attention for frequently adding new tools and functionality to the site to help sellers gain exposure and traffic, including Adobe Flash-based visualizations and a taxonomy of categories with tags.Etsy passed $1.7 million in sales in May 2007.On July 29, Etsy had its one-millionth sale and anticipated its two-millionth sale would occur mid-December 2007. In November 2007, buyers spent $4.3 million purchasing 300,000 items for sale on Etsy, an increase of 43 percent from October 2007.In June 2007, it expected to be profitable by the fall,but in December 2007 it was not a profitable company. In January 2008, Etsy received an additional $27 million in funding from Union Square Ventures, Hubert Burda Media, and Jim Breyer.

In February 2008, trouble at eBay, including a strike by some dissatisfied sellers, brought speculation that Etsy could be an increasing competitor. At the same time, however, some Etsy sellers expressed discontentment with how Etsy was handling complaints about stores At the time, a comparison of the two websites included complaints that on Etsy, items are difficult to find, the interface “feels slow”, and the buying and selling process is United States-centric. Other reviewers enjoyed using Etsy’s specialized search options, including the “Shop Local” tool.

In July 2008, Rob Kalin ceded the position of CEO to Maria Thomas. Some longtime Etsy employees left the company in August 2008, including founders Haim Schoppik and Chris Maguire. In September 2008, Etsy hired Chad Dickerson, who formerly worked at Yahoo!, as Chief Technology Officer. The company acknowledged concerns about vendors selling other people’s work as their own.

In April 2009, users organized an “etsyday” promotion on Twitter that brought extra attention to the site. As of May 2009, it had approximately 60 employees and sales of $10 to 13 million per month, possibly boosted by consumer interest in cheaper and more personalized goods due to the United States recession.

In March 2010, Kalin said that the company is profitable and “plans to go public, though not until at least next year”.Financial statements required to be filed by Etsy in order to go public show that due to reinvestment of annually increasing gross profits in marketing, product development, and management, the company has not reported a net profit as of 2015.

In December 2010, Etsy said it had seven million registered users, and that it would continue to focus on a personal community feel as it grows larger, as that is part of what distinguishes it from eBay.

In March 2011, Etsy “introduced a Facebook-style social networking system called People Search…to help buyers and sellers connect with each other and become friends”. By doing so, Etsy made any past purchase with feedback easily searchable, which caused many complaints. Etsy then made changes to the site to better guard information regarding users’ purchases.

In July 2011, Chad Dickerson, CTO since September 2008, became CEO, upon the firing of Rob Kalin. Later CTOs were Kellan Elliot-McCrea and John Allspaw.

In April 2012, a newspaper article about Etsy covered its fraud detection efforts; Etsy had been criticized in the past for inconsistently applying its rules about items having to be handmade. Later in April 2012, the writer of Regretsy, a popular blog, did independent research into a specific featured vendor, Ecologica Malibu, and found evidence to accuse the vendor of being a reseller, which would be against the Etsy Terms of Service.The vendor asserted that it was in line with the Terms of Service, stating that the shop had simply failed to identify itself as a “collective” that included the work of several individuals, and many Etsy community members posted on the Etsy forum expressing unhappiness with the action (or lack of action) taken by Etsy. As of June 2012, the vendor’s account is no longer active on Etsy.

In May 2012, Etsy raised $40 million in Series F funding, and announced the company had become a B Corp. This B Lab certification lapsed in 2017. Etsy’s 2012 funds went towards expanding Etsy in international markets, including France, Germany, and Australia.

On October 1, 2013, Dickerson held an online Town Hall Meeting to announce that Etsy would now permit factory-made goods and drop shipping, provided the seller either designed or hired designers of the items, disclosed to Etsy their factory, disclosed that they used factories and took “ownership” of the process. In that meeting and afterward, Etsy claimed the meaning of the word “handmade” should be redefined to encompass factory made.

In June 2014, Etsy purchased A Little Market, a French e-commerce site for handmade goods, foods, and wine, for a mix of cash and stock valued at less than $100 million. At the time the acquisition was the company’s largest.

2015: IPO and investor lawsuit

On March 3, 2015, Etsy announced that it had filed for a $100 million IPO. As of 2015, Etsy generated transactions worth US$1.93 billion on its platform, which has 54 million members Etsy went public on April 16, 2015, selling 13.3 million shares, while other stockholders including venture capital firms such as Accel and Acton Capital Partners were selling the rest. The company’s valuation was $1.8 billion and raised $237 million in IPO proceeds. Less than a month later, Etsy stock dropped more than 8%. The stock closed at $30 on its first day of trading on April 16 and dropped down to $20.32 as of May 11.

Shortly after the IPO in 2015, a group of investors filed a class action lawsuit against Etsy claiming fraud. The suit claimed that Etsy’s CEO and officers failed to disclose numerous problems with the site which could affect the stock price, among them that “more than 5 percent of all merchandise for sale on Etsy’s website may be either counterfeit or constitute trademark or copyright infringement” and that “brands are increasingly pursuing sellers on Etsy for trademark or copyright infringement, jeopardizing listing fees and commissions”. The suit also claimed that Etsy management knew of the rampant trademark and copyright infringement but did little to stop it, and in fact worked to hide this information from potential investors.

2016–present

In November 2016, Etsy disclosed that it paid US$32.5 million to purchase Blackbird Technologies, a startup that developed AI software used for shopping context/search applications. After experiencing a first-quarter loss in May 2017, Etsy replaced its chief executive and cut 8% of its workforce. In May 2017, Board member Josh Silverman was appointed CEO over Chad Dickerson, citing pressure from shareholders and poor profits.

In July 2019, Etsy acquired the music based marketplace Reverb for $275 million.

In April 2020, Etsy issues a call to all sellers on the site to start making cloth face masks to combat COVID-19. Masks accounted for around 11% of gross-merchandise sales in the third quarter, selling roughly 24 million. During the COVID-19 pandemic in 2020, shares in Etsy more than quadrupled, with the company’s forward multiple going up around 90 times what analysts had expected from forward earning. Equity analyst at D.A. Davidson Tom Forte stated the pandemic gave customers incentive to return to the website multiple times, rather than the usual occasional purchase of a unique product.

On June 2, 2021, Etsy announced that it had agreed to acquire shopping app Depop, the global fashion resell marketplace for $1.63 billion.

In most locations where Etsy Payments is not available, new shops are unable to onboard to Etsy. As of April 26, 2021, most sellers opening new shops on Etsy are required to onboard with Etsy Payments, which brings limitations on creating new shops in some countries.

Privacy

In 2011, in an effort to add social networking features to Etsy, the company implemented features that allowed users to search other users’ buying histories and to trace their purchasing transactions. Etsy thought this feature would allow Etsy users to connect to individuals with similar buying and/or selling histories and an automatic opt-in was applied to all users without the attainment of prior permission. Users of the service raised concerns over the feature’s violation of privacy rights, but an official response was not released by the company.

Type	Public
Traded as	Nasdaq: ETSY S&P 500 component
Industry	E-commerce
Founded	June 18, 2005; 17 years ago
Founders	Robert Kalin Chris Maguire Haim Schoppik Jared Tarbell
Headquarters	Brooklyn, New York, U.S.
Key people	Josh Silverman (CEO)
Revenue	US$2.33 billion (2021)
Operating income	US$465.7 million (2021)
Net income	US$493.5 million (2021)
Total assets	US$3.83 billion (2021)
Total equity	US$628.6 million (2021)
Number of employees	2,402 (December 2021)
Subsidiaries	Depop
Website	etsy.com

Popular Etsy Promo Codes & Sales

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best known for its coupons and deals in India’s online shopping market. The company helped millions of online shoppers save big on their purchases. It also has a wide collection of deals on Etsy, the global marketplace for unique goods. You can browse through the marvelous Etsy coupons listed on this page to buy your most-liked product from the platform without spending a fortune!

About Etsy

These days, people get easily bored of out-dated products. Everyone needs some unique product to make their lives look colourful and different! And, to help you get such quirky products, Etsy was born. Etsy is a large marketplace where sellers and buyers can directly interact with each other. Sellers, who want to make their business idea a success, can list their unique goods on the platform and sell them directly to consumers. Whereas, buyers who really love unconventional products, can find a plethora of such goods on this platform.

Popular Product Categories at Etsy

Want to satisfy your shopping cravings? Etsy can help you out! It can be your go-to buddy in buying unique and trendy goods. From wall decor to self care, from craft kits to jewelry, from clothing to home decor, you can choose from a vast range of product categories. The company also offers many exquisite products be it bath & beauty gifts, sustainability products, wallets, vintage collections, bags and other gift ideas.

Why Esty?

Etsy has made it possible for small sellers to make it big through its platform. It has become a home to unique and extraordinary products. The platform has become a special page for all those who love unconventional, quirky and vintage products. The sellers and the products will go through a strict inspection before being onboarded so you don’t have to worry about anything! Just shop your heart out at Etsy and buy your unique yet beautiful products at an affordable price!

Trendyol is an e-commerce platform based in Turkey, with its headquarters located in Istanbul. Trendyol operates in Trendyol Group structure. Founded in 2010 by Demet Mutlu, Trendyol is a private company, specialising in the fashion and retail sector.

In August 2021, Trendyol entered into agreements to raise $1.5 billion from a number of high-profile investors, valuing the company at $16.5 billion. With this new funding, Trendyol becomes Turkey’s first decacorn (the term given for start-up companies which have a valuation of over $10 billion). The round was co-led by General Atlantic, SoftBank Vision Fund 2, as well as Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority.

The platform was approved as a research and development centre in 2019 by the Ministry of Industry and Technology. Trendyol Tech specialises in the following: native language processing; real-time data analysis; machine learning; deep learning; image processing; data visualisation; text simulation and big data.

Dolap was founded in 2016 as a second-hand product trading platform and acquired by Trendyol in 2018. 1.4 million individual sellers are currently active on Dolap.

Investors

Founded with an initial capital of 300 thousand USD, Trendyol received investment from Tiger Global and Kleiner Perkins in 2010-2011 and EBRD in 2014. Alibaba Group became a shareholder of Trendyol in 2018. Following the investment made by Alibaba, Tiger Global, Kleiner Perkins Caufield Byers, and EBRD were withdrawn. Alibaba became a shareholder of the company by acquiring the shares of 3 international shareholders in Trendyol. In August 2021, Trendyol had entered into agreements to raise $1.5 billion from a number of high-profile investors, valuing the company at $16.5 billion. The round was co-led by General Atlantic, SoftBank Vision Fund 2, as well as Princeville Capital and sovereign wealth funds, ADQ (UAE) and the Qatar Investment Authority, the company said in a statement. Thus, while Trendyol’s valuation increased to 16.5 billion dollars, the company was upgraded to the ‘decacorn’ category, which is used for companies with a valuation exceeding 10 billion dollars.

trendyol.com, operated by DSM Grup Danışmanlık İletişim ve Satış Ticaret A.Ş., is an online store with nationally-focused sales. Its eCommerce net sales are generated almost entirely in Turkey. With regards to the product range, trendyol.com is an all-round online store, with products on offer that cover different categories, such as “Fashion”, “Furniture & Appliances” as well as “Electronics & Media”.

Shopee Pte. Ltd. (Shopee) is a Singaporean multinational technology company which specialises in e-commerce. A subsidiary of Sea Ltd, Shopee was first launched in Singapore in 2015, and later expanded its reach abroad.

As of 2021, it is widely considered as the largest e-commerce platform in Southeast Asia with 343 million monthly visitors, and the company also serves consumers and sellers throughout several countries across East Asia (Taiwan), Latin America, and Europe (Poland) who wish to purchase and sell their goods online.

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan.

Launched in 2015, it is a platform tailored for the region, providing customers with an easy, secure and fast online shopping experience through strong payment and fulfillment support.

shopee believe online shopping should be accessible, easy and enjoyable. This is the vision Shopee aspires to deliver on the platform, every single day.

shopee believe in the transformative power of technology and want to change the world for the better by providing a platform to connect buyers and sellers within one community.

To Internet users across the region, Shopee offers a one-stop online shopping experience that provides a wide selection of products, a social community for exploration, and seamless fulfilment services.

shopee believe in simplicity and integrity, ensuring a life that’s honest, down to earth and true to self. shopee are friendly, fun-loving and bursting with heaps of energy, spreading the joy with everyone we meet.

shopee enjoy spending quality time together while shopping online with friends and family – doing the things we love as one big unit.

History

In February 2015, Shopee launched in Singapore as a social-first, mobile-centric marketplace where users can browse, shop and sell products. the asset-light platform is integrated with logistical and payment support, and claims to make online shopping easy and secure for both buyers and sellers.

The app-based platform launched a website to compete with other e-commerce companies such as Coupang, Lazada, Tokopedia and AliExpress. To differentiate itself, Shopee offers online shopping security through its own escrow service called Shopee Guarantee, which can be used to withhold payments from sellers until buyers have received their orders.

On 3 September 2019, Shopee officially opened its six-storey regional headquarters at Singapore Science Park. The new building spans 244,000 square feet (22,700 m²) of space, which can accommodate 3,000 employees and is six times larger than Shopee’s previous headquarters at Ascent Building. The building was leased by weWork before it was relinquished to Shopee.

Shopee aims to continually enhance its platform and become the region’s e-commerce destination of choice via ongoing product optimisation and localised user-centered strategies. Shopee, a Sea company, was first launched in Singapore in 2015, and has since expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam and the Philippines. Sea is a leader in digital entertainment, e-commerce and digital financial services across Greater Southeast Asia. Sea’s mission is to better the lives of consumers and small businesses with technology, and is listed on the NYSE under the symbol SE. The Shopee team is rapidly expanding across the region and we are constantly on the lookout for talents who have the passion and drive to become part of a fast-moving and dynamic team.

Shopee started as a consumer-to-consumer (C2C) marketplace but it pivoted into a C2C and business-to-consumer (B2C) hybrid model.^[14]

The company partners with over 70 courier service providers across markets it serves to provide logistical support for users.^[15] In Singapore, Shopee collaborates with logistics startup Ninja Van for item pickup and delivery.^[16] Other delivery partners in the region include Pos Malaysia and Pos Indonesia.^[17][18] Shopee also partnered with Delivery and Ecom Express for deliveries in India before it exited the domestic market.^[19]

In its early phases of growth, Shopee offered subsidies and free shipping to its users while delivery services were still expensive in the areas it serves

Market share

As of 2019, Shopee’s app has recorded 200 million downloads. Gross orders also grew 92.7% to 246.3 million in Q2 2019, compared to 127.8 million a year ago. Its gross merchandise value (GMV) also surged 72.7% to US$3.8 billion in Q2 19, compared to US$2.2 billion a year ago.

According to a report by iPrice in Q2 2019, Shopee was the top shopping app base on monthly active users, total downloads and website visits, ahead of its competitors, Lazada and Tokopedia.^[22] These GMV claims led to backlash from Lazada. Lazada’s former CEO, Max Bittner asserted that GMV numbers can be easily inflated “by subsidy schemes and history shows that GMV falls away as unhealthy subsidies are removed.”

In Malaysia, Shopee became the third most visited e-commerce portal in Q4 2017, overtaking Lelong, and replaced Lazada as the top app on iOS and Google Play app stores.

Among consumers in Indonesia, a survey conducted in December 2017 revealed that Shopee is the top shopping platform for Indonesian mothers (73%), ahead of Tokopedia (54%), Lazada (51%) and Instagram (50%).

In 2019, Shopee entered the Latin America market when it launched a localised site in Brazil. It later started operations in Mexico, Chile and Colombia in 2021. In September 2021, Shopee introduced its marketplace in Poland. Launches in Spain and France followed over the next two months. Shopee exited France and Spain on 6 March and 17 June 2022 respectively, leaving only Poland with operations in Europe.

Shopee started operations in South Korea as of 2020 to help local merchants reach customers in markets where the former operates. However, Shopee does not have a consumer-facing platform in South Korea.

New launches

In 2016, Shopee launched an initiative called Shopee University, a series of workshops and tutorials to aid local entrepreneurs and businesses in setting up their online businesses in the Philippines.

In 2017, Shopee launched Shopee Mall with 200 brands in Singapore and the Philippines.The dedicated portal features thousands of products sold by leading brands and retailers in the region. Shopee Mall was created to offer a more diverse online shopping experience, and to better cater to larger brands looking to pursue an omni-channel approach.

In 2018, Shopee launched the China Marketplace portal that offers shoppers easy access to products from Chinese merchants, without any shipping and agent fees in Singapore and the Philippines. The portal competes with Lazada’s Taobao Collection option.

In 2021, Shopee launched a social media customer service arm in the Philippines, known as Shopee Cares PH. The same year, Shopee launched a food delivery service called ShopeeFood, in partnership with over 500 merchants

Brand ambassadors

In 2018, Shopee appointed South Korean girl group Blackpink as its inaugural regional brand ambassador, as part of its partnership with YG Entertainment. Bambam from South Korean boy band Got7 was also appointed as the brand ambassador in Thailand in October of the same year.

In 2019, Shopee appointed professional footballer Cristiano Ronaldo as its regional brand ambassador. The partnership was announced in line with Shopee’s signature annual shopping event, 9.9 Super Shopping Day.

In the Philippines, Shopee has engaged nine local brand ambassadors: actresses Anne Curtis, Kim Chiu and Marian Rivera, singer Jose Mari Chan, boxer senator Manny Pacquiao, as well as television personalities Sarah Geronimo, Kris Aquino, Willie Revillame, and Alex Gonzaga.

In August 2020, Gurmit Singh became Shopee’s first Singaporean brand ambassador and reprised his character as Phua Chu Kang from a Singaporean sitcom for the role.

More About Shopee

Shopee is a Singaporean multinational technology company which focuses on e-commerce. Headquarters uber sea Group, Shopee was first launched in Singapore in the year 2015 and later expanded its reach to Brazil, Mexico, Philippines, Vietnam, Indonesia, Thailand, Taiwan and Malaysia. Now Shopee has its own exclusive Indian online store where Indians can buy everything from and get deliveries in way less time. Due to an Indian based operation, Shopee can extend its services to maximum customers and you can be the one to gain the benefit of the earliest discount on the ecommerce site. We have uploaded the latest promo codes here which can help you to gain maximum benefits like free shipping, flat discounts on fashion, home essentials, beauty, groceries, electronics items, baby products, phones and many other categories.

About Shopee.in

Shopee India is a one stop destination for many items you end on a daily basis. You can not only get electronics like cameras and phone accessories like high quality headphones, but also automobile accessories like helmets and more. It is a leading online shopping platform in Southeast Asia with its main operations from Singapore. Some other products that you can apart from clothing and fashion accessories are beverages, books, electronics, and home appliances. You can buy from this international ecommerce store and be assured of the quality of items you get. Because it is a multinational company, you can find some really cool brands and warranty on the products. And now you can get it all directly from your home without any extra shopping or delivery hassles that many international brands require. All thanks to its India exclusive store which was recently launched.

Shopee in India

Shopee was launched in India in November 2021 and has clocked 100000 orders in a day. Not just that, its Google Play store has been downloaded over a million times in India.

Shopee India Shopping Tips

Before buying an item, be sure to view product ratings and reviews from other users. Browse through the various categories well placed on the home page of the site until you find your favorite products –

• Once you find a needed product you have two options before checking out
• You can offer a different price to the seller. For this, click on “Chat Now” on the product page, then click “Make an Offer” and state your offer price and quantity. If the seller agrees to your offer, the product will be automatically added to your Shopping Cart
• Click on “Buy Now” to place an order directly.
• Select shipping option and fill in the shipping address correctly
• Now, select the payment method and tap on “Place Order” to proceed with payment

Download Shopee App

Shopee is an ecommerce platform that offers everything from groceries to fashion and beauty. Since the launch in 2015, it has emerged as a global marketplace for buying all sorts of products suitable for kids, men, and women. Check out the easy steps given below to start downloading the Shopee app on your smartphone:

Android Devices

• On your smartphone, open Google play Store and browse for Shopee.
• Now click on the “Install” button and complete the installation process.
• Again click on “Open” to register with your personal details.

Apple Devices

• On your smartphone, open the App Store and browse for Shopee.
• Now click on the “Install” button and complete the installation process.
• Again click on “Open” to register with your personal details.

Sell Your Products At Shopee

If you are looking for a perfect online marketplace for your handcrafted products, then Shopee could be the right fit for you. The best part is you will be charged zero commission fee, hidden charges, and shipping costs. Also, the payments are made with 100% transparency within the specified guidelines. All you have to do as a seller is to register yourself for the GST identification number, shipping address, and mobile number activation.

How to Use Shopee Coupons at GrabOn?

• Firstly, visit the GrabOn homepage and enter Shopee in the search bar.
• You will be redirected directly to the Shopee merchant page.
• From the list of available deals and coupon code, pick one that best suits your requirement.
• Now click on “Show Coupon Code” or “Get Deal” buttons.
• Again you will be navigated directly to the official Shopee website.
• Select and add items to the cart as the coupon gets automatically applied.

Shopee India Payment Options

• All major credit and debit cards are accepted
• You can opt for net banking too and pay online with is secure payment mode
• Cash on delivery is accepted.
• Other ways to pay via your Shopee order is via Shopee pay account or Shopee coins.

Shopee.in Shipping Policy

You have the freedom to choose which courier partner you want to opt for. Two options can be found viz. Delhivery and ECom Express. Just select the suitable one at the time of checkout and your order will be delivered by that particular shipping company. You can also visit the shipping companies website in order to track the package.

Shopee.in Return/ Refund/ Cancellation Policy

Shopee.in offers hassle-free 7 Day Free Return from top sellers. Returns can be made if you have received a wrong delivery, a damaged or faulty product, or it simply does not meet your expectations. You can raise a return request by logging into your Shopee.in account and selecting return against the order which you want to return. You would also need to select the reason for return to process your request.

Refund policy with Shopee

Refund requests will be initiated within 24 hours. However the time it takes to reflect back into your account depends on the payment mode which you had used. Here is the refund period that applies to your payment mode.

• Credit / Debit Card – 7-14 days
• UPI – 5-7 days
• Netbanking- 7-14 days

If you had used COD for your delivery, then the money will be credited back through either UPI or bank transfer.

How To Save More At Shopee.in

• You can avail super-saving discounts through coupons and use them during every purchase.
• Make use of multiple sales and promotions that more often happen in this site.
• By shopping on sale days that offers amazing deals for their top-selling items in specific brands
• Through the Free-Vouchers offered during sales periods and flash deals
• You can also follow Shopee on social media to get the latest offer details and subscribe to their newsletter in order to get the latest sale and discounts’ details.

How to save using Shopee voucher codess?

There are 2 ways to save with a voucher on Shopee. First, you can use a pre-loaded vouch which is basically applied automatically to your order in case one applies. You don’t have to do anything. Second, you can choose from a range of Shopee vouchers and apply them manually based on the order which you are placing. These second types of vouchers are called claimable vouchers. Both can be obtained either from the Shopee official website, or from this page as we frequently update all the vouchers for the ecommerce company with their terms and conditions.

Shopee customer care details

Email: You can sending an email through the help form on the Shopee website to gain information or to report a complaint

Call: The other simple way to reach out to them is by calling them at 1800 203 8899 which is available from 9am to 10pm from Monday to Thursdays.

Shopee Social media following:

Are you super-excited to buy all home, kitchen, electronic, beauty, fashion items at one place? Look nowhere! Shopee has got you covered. They have come with thousands of products across all the categories. So, you can start buying your favorite items without any trouble. Further, if you wish to stay connected with the Shopee platform online, do follow them on the below listed social channels. Have a look:

• Instagram: 112k followers
• Facebook: 2.3 crores
• LinkedIn: 1.3 Million followers

Best Buy operates internationally in Canada, and formerly operated in China until February 2011 (when the faction was merged with Five Star) and in Mexico until December 2020 (due to the effects of the COVID-19 pandemic). The company also operated in Europe until 2012. Its subsidiaries include Geek Squad, Magnolia Audio Video, and Pacific Sales. Best Buy also operates the Best Buy Mobile and Insignia brands in North America, plus Five Star in China. Best Buy sells cellular phones from Verizon Wireless, AT&T Mobility, Sprint Corporation in the United States. In Canada, carriers include Bell Mobility, Rogers Wireless, Telus Mobility, their fighter brands, and competing smaller carriers, such as SaskTel.

Best Buy was named “Company of the Year” by Forbes magazine in 2004,“Specialty Retailer of the Decade” by Discount Store News in 2001, ranked in the Top 10 of “America’s Most Generous Corporations” by Forbes in 2005 (based on 2004 giving), made Fortune magazine’s list of “Most Admired Companies” in 2006, and “The Most Sustainable Company in the United States” by Barron’s in 2019.Hubert Joly is executive chairman of Best Buy, having been succeeded as CEO by Corie Barry in June 2019.According to Yahoo! Finance, Best Buy is the largest specialty retailer in the United States consumer electronics retail industry. The company ranked number 72 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

History

On August 22, 1966, Richard M. Schulze and a business partner opened Sound of Music, an electronics store specializing in high fidelity stereos in St. Paul, Minnesota. Schulze financed the opening of his first store with his personal savings and a second mortgage he took out on his family’s home. In 1967, Sound of Music acquired Kencraft Hi-Fi Company and Bergo Company. Sound of Music earned $1 million in revenue and made about $58,000 in profits in its first year. In 1969, Sound of Music had three stores and Schulze bought out his business partner.

Sound of Music operated nine stores throughout Minnesota by 1978. In 1981, the Roseville, Minnesota, Sound of Music location, at the time the largest and most profitable Sound of Music store, was hit by a tornado The store’s roof was sheared off and showroom destroyed, but the storeroom was left intact. In response, Schulze decided to have a “Tornado Sale” of damaged and excess stock in the damaged store’s parking lot. He poured the remainder of his marketing budget into advertising the sale, promising “best buys” on everything.Sound of Music made more money during the four-day sale than it did in a typical month.

Best Buy Co. Superstores logo from 1983 until 1984

Best Buy Superstores logo from 1984 until 1989

In 1983, with seven stores and $10 million in annual sales, Sound of Music was renamed Best Buy Company, Inc. The company also expanded its product offerings to include home appliances and VCRs, in an attempt to expand beyond its then-core customer base of 15- to 18-year-old males. Later that year, Best Buy opened its first superstore in Burnsville, Minnesota. The Burnsville location featured a high-volume, low-price business model, which was borrowed partially from Schulze’s successful Tornado Sale in 1981.^[22][26] In its first year, the Burnsville store out-performed all other Best Buy stores combined.^[23][24]

Best Buy was taken public in 1985, and two years later it debuted on the New York Stock Exchange.^[27][28] In 1988, Best Buy was in a price war with a Detroit-based appliance chain and Schulze attempted to sell the company to Circuit City for US$30 million. Circuit City rejected the offer, claiming they could open a store in Minneapolis and “blow them away.”^[29]

In 1989, the company introduced a new store concept dubbed “Concept II”.^[24][27] Concept II replaced dimly lit industrial-style stores with brighter and more fashionably fixtured stores.^[24] Stores also began placing all stock on the sales floor rather than in a stock room, had fewer salespersons and provided more self-help product information for its customers. Best Buy also did away with commissioned salespeople. The commission-free sales environment “created a more relaxed shopping environment free of the high-pressure sales tactics used in other stores,” but was unpopular with salespersons and suppliers.Upset that their products would no longer be pushed by salespeople, some suppliers such as Maytag, Whirlpool, and Sony stopped selling in Best Buy stores altogether.The suppliers returned after Best Buy’s sales and revenue grew following the roll-out of Concept II.

In 1992, the company achieved $1 billion in annual revenues.

In 1994, Best Buy debuted “Concept III” stores in several new markets including Los Angeles and Washington, DC.Concept III stores were larger than previous stores and included expanded product offerings, “Answer Center” touchscreen kiosks that displayed product information for both customers and employees, and demonstration areas for products such as surround sound stereo systems and video games.

Best Buy launched its “Concept IV” stores with its expansion into New England in 1998.Concept IV stores included an open layout with products organized by category, cash registers located throughout the store, and slightly smaller stores than Concept III stores. The stores also had large areas for demonstrating home theater systems and computer software.

In 1999, Best Buy was added to Standard & Poor’s S&P 500.

2000s

Best Buy logo from 1989 until May 9, 2018, used in Canada until July 26, 2019, still used in many locations

Former Best Buy Store located in Shanghai, China, now closed and merged with Five Star

Best Buy Corporate Headquarters is located in Richfield, Minnesota, U.S., a suburb of Minneapolis

In 2000, Best Buy formed Redline Entertainment, an independent music label and action-sports video distributor.The company acquired Magnolia Hi-Fi, Inc., an audio-video retailer located in California, Washington, and Oregon, in December 2000.

In January 2001, Best Buy acquired Musicland Stores Corporation, a Minnetonka, Minnesota-based retailer that sold home-entertainment products under the Sam Goody, Suncoast Motion Picture Company, Media Play, and OnCue brands. Best Buy purchased the company for $425 million in cash and the assumption of $271 million of Musicland debt.^[ Later that year, Best Buy acquired the British Columbia, Canada-based electronics-chain Future Shop Ltd., marking its entrance to the international marketplace. Under the deal, Future Shop was purchased for about US$377 million and continued to operate as subsidiary independent from Best Buy Canada.

Brad Anderson succeeded Richard Schulze as Best Buy CEO in July 2002.Anderson had begun working at Best Buy in 1973 while attending seminary school. He was promoted to vice president in 1981 and executive vice president in 1986. Anderson had most recently served as president and COO of Best Buy, a position he had held since 1991. In September of that year, Best Buy opened the first Canadian Best Buy-branded store in Mississauga, Ontario. In October, Best Buy acquired Minneapolis-based Geek Squad, then a 24-hour residential computer repair business with offices in Minneapolis, Chicago, Los Angeles, and San Francisco.

Best Buy stores in the U.S. surpassed the 600-store mark and the company opened its first global-sourcing office in Shanghai in 2003.In June, Best Buy divested itself of Musicland in a deal with Sun Capital Partners under which Sun Capital received all of Musicland’s stock and debt.Best Buy launched its “Reward Zone” loyalty program in July following an 8-month test of the program in San Diego, California.Also in 2003, Best Buy’s corporate offices were consolidated into a single campus in Richfield, Minnesota.

In January 2004, Best Buy hired Virtucom Group to revamp Best Buy’s website and handle all of the company’s online content In May, the company launched its “customer centricity” program, which segmented its stores according to customer profiles. The program also called for employees to focus on specific customer groups rather than product categories. In October, Best Buy completed rolling out Geek Squad “precincts” in every American Best Buy store.

In April 2005, Best Buy began eliminating mail-in rebates in response to negative customer reaction against them, and instead started giving out instant rebates via notebook computers.

In May 2006, Best Buy acquired a majority interest in Chinese appliance retailer Jiangsu Five Star Appliance for $180 million. At the time of the deal, Jiangsu was the fourth-largest appliance chain in China with 193 stores across eight Chinese provinces. In June, the company opened Geek Squad precincts at Office Depot in Orlando, Florida. The market test was later expanded to Denver.

In January 2007, the first Best Buy-branded store in China officially opened in Shanghai.In March 2007, Best Buy acquired Speakeasy, a Seattle-based broadband VOIP, data, and IT services provider. The acquisition was worth $80 million, and under terms of the deal, Speakeasy began operating as a wholly owned subsidiary of Best Buy. The company’s products also became part of Best Buy’s For Business program. Best Buy also expanded its Geek Squad market tests in March, opening Geek Squad precincts in FedEx Kinkos stores located in Indianapolis and Charlotte, North Carolina. In October 2007, Best Buy became the first consumer-electronics retailer to exit the analog television market, carrying only digital products that became mandatory in June 2009 by the FCC.

In February 2008, Best Buy opened its first store in San Juan, Puerto Rico.Best Buy’s Geek Squad market tests in Office Depot and FedEx Kinkos stores ended by March. Also in March, the company began promoting the Blu-ray optical-disc format over the HD DVD format, a move which ultimately contributed to Toshiba’s decision to drop HD DVD. In May, the company agreed to buy 50% of the retail division of The Carphone Warehouse, a London, England-based mobile phone retailer. The deal was worth $2.1 billion.

In July 2008, Best Buy announced that it would start selling musical instruments and related gear in over 80 of its retail stores, making the company the second-largest musical-instrument distributor in the US. Best Buy became the first third-party retail seller of Apple’s iPhone in September. Later that month, the company agreed to acquire Napster for $121 million. In December, Best Buy opened its first store in Mexico.

In February 2009, Best Buy leveraged its partnership with The Carphone Warehouse to launch Best Buy Mobile, a Best Buy-branded mobile retailer. Best Buy Mobile standalone stores were opened in shopping malls and urban downtowns. These Best Buy Mobile outlets were also added in all Best Buy-branded stores.

In June 2009, Brian J. Dunn became Best Buy CEO. Dunn replaced Brad Anderson, who was retiring. Dunn had joined Best Buy in 1985 as a sales associate. In 2000, Dunn became senior vice president of East Coast operations and president of North American retail operations in 2004. His most recent position was as president of Best Buy since 2006.

In November 2009, Best Buy partnered with Roxio’s CinemaNow to launch an on-demand streaming service which allowed streaming from any Internet device sold by Best Buy

In December, Best Buy opened its first Turkish store in İzmir.^{[citation needed]}

2010s

In April 2010, Best Buy opened its first United Kingdom-based Best Buy-branded store in Thurrock. The company eventually opened 11 Best Buy stores in the United Kingdom, all of which were closed in early 2012. In November 2011, Best Buy purchased The Carphone Warehouse’s share of Best Buy Mobile for $1.3 billion. Best Buy and The Carphone Warehouse maintained their Best Buy Europe joint venture, which at the time operated 2,500 mobile phone stores throughout Europe.

The company closed all of its Best Buy-branded stores in China by February 2011, when it merged Best Buy China’s operations with Jiangsu Five Star, which had become a wholly owned subsidiary of Best Buy in 2009. In December 2011, Best Buy purchased mindSHIFT Technologies, a company that provided IT support for small and medium-sized businesses, for $167 million.

In 2012, in response to overall revenue decline, Best Buy announced plans to undergo a “transformation strategy”. Stores began to adopt a redesigned “Connected Store” format, providing the Geek Squad with a centralized service desk and implementing a “store-within-a-store” concept for Pacific Kitchen & Bath and Magnolia Design Center.

In April 2012, Brian Dunn resigned as Best Buy’s CEO during an internal company investigation into allegations of personal misconduct stemming from an inappropriate relationship with a female Best Buy employee. Best Buy named Director George L. Mikan III interim CEO following Dunn’s resignation. The internal investigation was released in May 2012 and alleged that Best Buy founder and chairman Richard Schulze knew of Dunn’s inappropriate relationship and failed to notify the Best Buy board. Schulze subsequently resigned his chairmanship of the company. Best Buy Director Hatim Tyabji replaced Schulze as Best Buy chairman.

In September 2012, Hubert Joly replaced Mikan as Best Buy CEO. Joly had previously served as CEO of Carlson, a hospitality conglomerate, since 2008.He led initiatives such as price matching, speeding up delivery times for online purchases, establishing “store within a store” sections for major brands such as Apple, Google, Microsoft, and Samsung, and giving more product training to employees.

In April 2013, Best Buy exited the European consumer electronics market when it sold its 50% stake in The Carphone Warehouse back to the UK-based mobile phone retailer. The sale was worth around $775 million.

An increasing trend towards online shopping began to erode revenues and profits in the 2010s. A 4% dip in sales for the June 30, 2014, quarter, marked the 10th quarter in a row where Best Buy’s sales had declined. The company, in announcing the result, said it was focusing more on digital media in its marketing, moving away from newspaper, magazine, and television advertising.

On March 28, 2015, Best Buy announced the shutdown of the Future Shop chain in Canada; 65 of its 131 former locations were converted into Best Buy locations, while the rest (primarily those in close proximity to an existing Best Buy) were closed permanently.

On March 1, 2018, the company announced that it would shut down its 250 standalone Best Buy Mobile stores in the United States by the end of May, due to low revenue and high costs. The Best Buy Mobile stores were reported to account for 1% of the company’s revenue.

On May 9, 2018, the company unveiled a new logo for the first time in nearly three decades.

On July 2, 2018, Best Buy announced it was cutting the amount of store space devoted to selling physical music, citing the popularity of streaming services as having reduced sales.

On April 15, 2019, Best Buy announced that in June 2019, its current CFO, Corie Barry, would replace Hubert Joly who held the position of CEO since August 2012. Joly subsequently became executive chairman of the company.

Corporate affairs

Best Buy sells consumer electronics and a variety of related merchandise, including software, video games, music, mobile phones, digital cameras, car stereos, and video cameras, in addition to home appliances (washing machines, dryers, and refrigerators), in a noncommissioned sales environment. Under the Geek Squad brand, Best Buy offers computer repair, warranty service, and accidental service plans. Best Buy provides an online community forum for members, where consumers can discuss product experiences, ask questions, and get answers from other members or retail product experts.

The building exteriors of Best Buy-branded stores are typically light brown, with the entrance designed to look like a blue box emerging from the structure.Corporate employees operated under a results only work environment from 2005 until March 2013, when the management style was abandoned by Best Buy CEO Hubert Joly.

Wish is operated by ContextLogic Inc. in San Francisco, United States. The platform personalizes the shopping experience visually for each customer, rather than relying only on a search bar format. It allows sellers to list their products on Wish and sell directly to consumers. Wish works with payment service providers to handle payments and does not stock the products themselves or manage returns.

History

Wish was started by Piotr Szulczewski, a former Google engineer, as a software company called ContextLogic. In September 2010, ContextLogic received $1.7 million in investments and involved Yelp CEO Jeremy Stoppelman.

In May 2011, Szulczewski invited college friend Danny Zhang to relaunch the company as Wish. It was created as an application that allowed shoppers to create wish lists of their favorite products before matching them with merchants. They also earned revenue with a Pay-per-click model by advertising on Facebook.

In 2013, Szulczewski met with Hans Tung, an investor with GGV Capital in Menlo Park, California, and noted that a large number of sales were coming from Florida, Texas and the Midwest rather than New York or California. Wish became an e-commerce site after asking merchants to host their products directly on the Wish application, with Wish taking a portion of each sale.

The Wish marketplace is accessed by the Wish.com website or by a mobile application that is available for iOS and Android.

In 2017, Wish was the most downloaded e-commerce application in the United States. It signed a multi-year partnership with the NBA’s Los Angeles Lakers. Wish conducted a World Cup campaign in 2018, that featured Neymar, Paul Pogba, Tim Howard, Gareth Bale, Robin van Persie, Claudio Bravo and Gianluigi Buffon.

In 2018, Wish was the most-downloaded e-commerce application worldwide and the company doubled its revenue to $1.9 billion.

As of 2019, Wish was the third-biggest e-commerce marketplace in the United States by sales. In August 2019, ContextLogic received a Series H funding round, led by equity firm General Atlantic, taking the company’s valuation to $11.2 billion.JD.com is an investor in Wish. ContextLogic went public via an IPO in 2020.

In France in November 2021, the Wish e-commerce system, including the website and smartphone applications, were delisted from Google’s search results and from Google’s French app store, after French authorities claimed that many items sold on the platform do not comply with European regulations. The same authorities also accused the platform of selling counterfeit items In January 2022, Wish appointed Vijay Talwar as the new CEO.

Services

More than 1 million merchants list their products on Wish’s platform to sell directly to consumers. The bulk of the merchandise available through the app in the United States comes from China and other non-U.S. distributors. The products are usually smaller items that are cheaper to ship, aided by an agreement between China Post and the U.S. Postal Service that lowers costs of shipping for goods weighing less than 2 kg. Wish offers express shipping in 5 days, or 6–8 days in some cases, as well as standard shipping that takes 2–3 weeks, for customers who prioritize savings over speed of delivery.

Wish’s “Wheel of Fortune”-style game, Blitz Buy, integrates a layer of gamification to offer consumers additional discounts on top-selling items.

Criticism

Wish has been criticized for listing poor quality or counterfeit goods, a common concern among major e-commerce sites which feature independent sellers.^[22][23][24] Customers have complained about lack of communication from sellers and quality. In response to the criticism, Szulczewski hired an executive from Facebook to organize a community of about 10,000 Wish users to expose unsatisfactory dealers in exchange for free goods and discounts.

It is often possible to purchase items from Wish that are not legal in the purchaser’s country. In January 2020, a man from Nelson, Lancashire, United Kingdom, was sentenced to 11 months in prison for purchasing a stun gun using Wish.

Type of site	Public
Available in	English and other languages
Founded	July 4, 2010; 12 years ago
Headquarters	San Francisco , U.S.
Country of origin	United States
Area served	Worldwide
Founder(s)	Piotr Szulczewski Sheng Zhang
Key people	Vijay Talwar, CEO
Industry	Online shopping
Revenue	$2.1 Billion
Employees	1100
Parent	ContextLogic Inc. (Nasdaq: WISH)
Subsidiaries	Wish Outlet Wish Express Wish Local for Partner Stores
URL	www.wish.com
Advertising	Yes
Commercial	Yes
Registration	Required
Launched	May 2011
Current status	Active

Amazon.com is a vast Internet-based enterprise that sells books, music, movies, housewares, electronics, toys, and many other goods, either directly or as the middleman between other retailers and Amazon.com’s millions of customers. Its Web services business includes renting data storage and computing resources, so-called “cloud computing,” over the Internet. Its considerable online presence is such that, in 2012, 1 percent of all Internet traffic in North America traveled in and out of Amazon.com data centres.

The company also makes the market-leading Kindle e-book readers. Its promotion of these devices has led to dramatic growth in e-book publishing and turned Amazon.com into a major disruptive force in the book-publishing market.

Amazon was founded by Jeff Bezos from his garage in Bellevue, Washington, on July 5, 1994. Initially an online marketplace for books, it has expanded into a multitude of product categories: a strategy that has earned it the moniker The Everything Store. It has multiple subsidiaries including Amazon Web Services (cloud computing), Zoox (autonomous vehicles), Kuiper Systems (satellite Internet), Amazon Lab126 (computer hardware R&D). Its other subsidiaries include Ring, Twitch, IMDb, MGM Holdings and Whole Foods Market.

“Get Big Fast”

In 1994 Jeff Bezos, a former Wall Street hedge fund executive, incorporated Amazon.com, choosing the name primarily because it began with the first letter of the alphabet and because of its association with the vast South American river. On the basis of research he had conducted, Bezos concluded that books would be the most logical product initially to sell online. Amazon.com was not the first company to do so; Computer Literacy, a Silicon Valley bookstore, began selling books from its inventory to its technically astute customers in 1991. However, the promise of Amazon.com was to deliver any book to any reader anywhere.

While Amazon.com famously started as a bookseller, Bezos contended from its start that the site was not merely a retailer of consumer products. He argued that Amazon.com was a technology company whose business was simplifying online transactions for consumers.

The Amazon.com business strategy was often met with skepticism. Financial journalists and analysts disparaged the company by referring to it as Amazon.bomb. Doubters claimed Amazon.com ultimately would lose in the marketplace to established bookselling chains, such as Borders and Barnes & Noble, once they had launched competing e-commerce sites. The lack of company profits until the final quarter of 2001 seemed to justify its critics.

However, Bezos dismissed naysayers as not understanding the massive growth potential of the Internet. He argued that to succeed as an online retailer, a company needed to “Get Big Fast,” a slogan he had printed on employee T-shirts. In fact, Amazon.com did grow fast, reaching 180,000 customer accounts by December 1996, after its first full year in operation, and less than a year later, in October 1997, it had 1,000,000 customer accounts. Its revenues jumped from $15.7 million in 1996 to $148 million in 1997, followed by $610 million in 1998. Amazon.com’s success propelled its founder to become Time magazine’s 1999 Person of the Year.

The company expanded rapidly in other areas. Its Associates program, where other Web sites could offer merchandise for sale and Amazon.com would fill the order and pay a commission, grew from one such site in 1996 to more than 350,000 by 1999. Following Bezos’s initial strategy, the company quickly began selling more than books. Music and video sales started in 1998. That same year it began international operations with the acquisition of online booksellers in the United Kingdom and Germany. By 1999 the company was also selling consumer electronics, video games, software, home-improvement items, toys and games, and much more.

To sustain that growth, Amazon.com needed more than private investors to underwrite the expansion. As a result, in May 1997, less than two years after opening its virtual doors to consumers and without ever having made a profit, Amazon.com became a public company, raising $54 million on the NASDAQ market. In addition to the cash, the company was able to use its high-flying stock to fund its aggressive growth and acquisition strategy.

Beyond retailing

As noted above, Bezos claimed that Amazon.com was not a retailer but a technology company. To underscore the point, in 2002 the company launched Amazon Web Services (AWS), which initially offered data on Internet traffic patterns, Web site popularity, and other statistics for developers and marketers. In 2006 the company expanded its AWS portfolio with its Elastic Compute Cloud (EC2), which rents out computer processing power in small or large increments. That same year, the Simple Storage Service (S3), which rents data storage over the Internet, became available.

S3 and EC2 quickly succeeded and helped popularize the idea that companies and individuals do not need to own computing resources; they can rent them as needed over the Internet, or “in the cloud.” For example, in 2007, soon after launch, the S3 service contained more than 10 billion objects, or files; five years later, it held more than 905 billion. AWS is even used by Amazon.com’s rivals, such as Netflix, which uses both S3 and EC2 for its competing video streaming service.

COVID-19

At the end of March 2020, some workers of the Staten Island warehouse staged a walkout in protest of the poor health situation at their workplace amidst the 2020 COVID-19 pandemic. One of the organizers, Chris Smalls, was first put on quarantine without anyone else being quarantined, and soon afterwards fired from the company.

The pandemic caused a surge in online shopping and resulted in shortages of household staples both online and some brick-and-mortar stores. From March 17 to April 10, 2020, Amazon warehouses stopped accepting non-essential items from third-party sellers. The company hired approximately 175,000 additional warehouse workers and delivery contractors to deal with the surge, and temporarily raised wages by $2/hour.

Acquisition of MGM

After months of speculation due to MGM’s poor financial performance from the COVID-19 pandemic’s impact on the movie industry, Amazon entered negotiations to acquire MGM at an estimated $9 billion on May 17, 2021. The companies agreed to the merger deal on May 26, 2021 for a total value of $8.45 billion, subject to regulatory approval. The deal would allow Amazon to add the MGM library to the Amazon Prime Video catalog, with the studio continuing to operate as a label under the new parent company. The merger was finalized on March 17, 2022 following the expiration of the FTC’s review deadlineand having cleared the European Commission two days earlier on March 15th.^{[57][58][59][60][61][62][63]} Later that day, Amazon Studios and Prime Video SVP Mike Hopkins revealed that Amazon will continue to partner with United Artists Releasing (MGM and Annapurna Pictures’ joint distribution venture), which will remain in operation to release all future MGM titles theatrically on a “case-by-case basis,” while “all MGM employees will join my organization.” It was also revealed that Amazon had no plans to make changes to the studio’s production slate and release schedules nor make all MGM content exclusive to Prime Video, providing some hope that the studio would operate autonomously from Amazon Studios. These plans are expected to not impact the future of the James Bond franchise and its creative team. Two town halls further detailing MGM’s future post-merger took place on March 18, 2022, which included one for MGM employees and one for Amazon Studios/Prime Video employees.Both revealed the new interim reporting structure as part of Amazon’s “phased integration plan,” which would involve De Luca, Mark Burnett (Chairman of MGM Worldwide Television) and COO Chris Brearton reporting to Hopkins on behalf of the studio.^[65] On April 27, 2022, it was announced that De Luca and Abdy would leave the studio.

List of 90% OFF Amazon Promo Codes, Coupons, and Deals for August 2022

Amazon India Online Shopping – Promo Codes & Offers

Amazon India is a great place to shop for products from the best brands. You can find everything from clothing and accessories to home furnishings and electronics. There are also a variety of latest offers that you won’t find anywhere else. One of the coolest things about this eCommerce major giant is the fact that you can shop from the comfort of your home. You don’t have to leave your house to find the best deals. You can also use an Amazon Prime membership to get free two-day shipping on most items. Plus, you can enjoy exclusive offers and discount codes that are only available to Prime members. Furthermore, use GrabOn coupons to get up to 90% off on select products and brands. So, what are you waiting for? Start shopping today.

About Amazon

Amazon, one of the biggest shareholders of the e-commerce market in India was formed in 1994 by Jeff Bezos in a garage. Everybody knows this story. But did you know that this platform was first a bookselling portal that delivered books within a month of its launch that making it a huge hit? Today, the company provides a platform for millions of sellers to sell everything from fruits and vegetables to movies and books, and even items you didn’t know existed online.

The company never stops making people’s life easy with newer solutions. The company operates in over 200 countries and employs over a million people worldwide. It’s not only a haven for sellers and buyers but also for job seekers, entrepreneurs, and anybody who would like to do something different.

Top Categories On Amazon

Electronics dominates the top three Amazon India categories, followed by fashion and then home & kitchen. These are likely indicative of the fast-paced lifestyle that a majority of Indians live today. Electronics features products related to smartphones, cameras, laptops, and others. Fashion includes items such as women’s clothing, footwear, cosmetics, etc., while home & kitchen showcases goods such as furniture, cookware sets, dining, storage, etc.

How To Save On Amazon – Tips & Tricks

There are a number of ways to save, and the best way to find out is to start searching for deals today! Some of the most popular ways to save include using promo codes, coupons, and shopping during sales. Check out the website for daily deals, or use the mobile application to find cashback and free shipping on your favorite products.

Additionally, Amazon Prime members can take advantage of Prime Day, which is the biggest two-day sale of the year for massive savings. During this sale period, the company offers exclusive deals on a wide range of items, including electronics, home goods, and more. You can also find the best offers on the Kindle Store and AmazonBasics. The leading online shopping platform constantly updates its deals page, so be sure to check back often or stay connected to GrabOn for coupon codes, clearance sale updates, and much more!

Amazon Sales & Discounts

Amazon conducts various sales throughout the year. A renowned sale by Amazon, The Amazon Great Indian Festival, happens every year where users can bag products at never seen before rates. This sale is one of the best times for shopping on Amazon as you can enjoy heavy discounts on mobile phones, large appliances, clothing, furniture, and more. Other than that, Amazon has sales at all festivals and occasions that you must look out for. Let that be Father’s Day, Independence Day, or even Rakhsha Bandhan, you can expect some really good savings when you shop from Amazon during these times.

AmazonBasic – Raining Discounts Like Never Before

AmazonBasics is a private label that offers office supplies, home goods, and tech accessories at discounted prices. It offers competitive prices and a wide range of products that can be found nowhere else. The products are of high quality and often have superior design and function to branded products.

Some of the most popular products include electronics, home goods, and office supplies. Electronics include items such as smartphones, drones, and televisions. Home goods include items such as mattresses, curtains, and flooring. Office supplies include items such as printers, copiers, and scanners. All these products on do have a discount code or be it a voucher code that will surely leave a smile on your face.

Amazon Gift Cards

Amazon gift cards are an awesome way to wish someone a birthday, a wedding anniversary, and so on. You can buy a gift card that is worth up to Rs 10,000 from the gift card store. All cards can be customized with artwork and even a personal message. Gift cards are easy to redeem and are valid for 1 year. Receivers can use the gift card on all products, except the app, a few global store products, and for the purchase of other gift cards. Buying gift cards can also unlock special discounts on other brands like Ola, Chumbak, and more.

Amazon First Purchase Offers

On the first purchase on the Amazon eCommerce platform, new users will get offers worth Rs 4,450. The coupon codes will be sent to the email addresses of eligible consumers. In addition, this offer is available to consumers without having to make a minimum purchase.

Check Amazon Lightning Deals Every Day

At Amazon, you’ll never miss a chance to get instant bargains while shopping and saving on the items you buy. When you subscribe to Prime, you’ll get early access to lightning deals. In addition to exclusive deals of the day.

Amazon Prime Student Discount

Students can get Prime membership for half the price for six months straight. All you have to do is signup with your student’s identity details to avail of the offer. Once you become a member, you will get free shipping on all eligible items, and massive discounts on college essential items like bags, headphones, phone cases, video games, and even health and personal items. Students can also get discounts on Amazon music, and prime video channels and can enjoy Kindle reading free for two months.

Amazon Youth Offer – 50% Off

Customers between ages 18 to 24 can join Amazon Prime at 50% off when their signup for monthly, quarterly or annual membership. All you have to do is verify your age to avail of discounts on your plan or get Amazon Pay cashback up to Rs 750. Please make note that this offer can be availed using the mobile app. Please check the website for more details.

Amazon Prime Membership Benefits & Pricing

Amazon’s Prime membership entitles you to a plethora of exciting benefits that include the following:

• Free Delivery: With the membership, you get free one day, two days, and even scheduled delivery as per your address. Moreover, there is no minimum order value required for standard deliveries.
• Discounted Deliveries: Get discounted morning and express deliveries for just Rs 50 and Rs 49, respectively.
• Cashback: Get Rs 25 cashback with No Rush shipping, which is absolutely free.
• Special discounts on baby items: Get 15% off on diaper subscriptions and on other eligible baby products.
• Free access to entertainment: Enjoy free and unlimited access to hundreds of movies in various languages, and music, and get access to the Kindle app.
• Airtel Recharge: Win Amazon Prime Free Trial for 1 month when you recharge with Airtel.

Pricing Details:

Here’s the list of new Amazon Prime membership plans:

• Monthly Membership Fee: Costs Rs 179; Validity: 1 Month.
• Quarterly Membership Fee: Costs Rs 459; Validity: 3 Months.
• Annual Membership Fee: Costs Rs 1,499; Validity: 1 Year.

Amazon App Download

The app is the best way to shop for millions of products and find what you’re looking for. You can browse by categories, view everything that shoppers have bought, and even read customer reviews. It features items from thousands of sellers so that you don’t have to go anywhere else to find something great. Whether you have android or iPhone devices, having an Amazon app makes your shopping experience enjoyable. Download it today to start making the best purchases you ever did.

Check out the following benefits associated with the mobile application:

• Track your purchased items in real-time.
• Set up notifications to know the delivery status.
• Chat with customer support to know about offers, deals, and new product launches.
• Pay bills and transfer money using Amazon pay.
• Interactive voice assistance with the Alexa feature.
• Make safe and secure payments online.
• Barcode scanner to know the product pricing details.

Renewed Products On Amazon – Daily Deals

Amazon is a great place to get refurbished and renewed items. Not only are they affordable, but you can be sure that the products are of high quality. You can save up to 70% when you buy renewed products here. Browse through their extensive selection of refurbished items like laptops, headphones, mobile phones, fans, cameras, smartwatches, tablets, monitors, and more. All these products are inspected and tested by professionals before they are sold on the platform. In addition, Amazon offers a 6-month warranty on all products, so you can be confident in your decision to buy from them.

Gaming with Prime – Free Content

All Prime users can avail of free in-game content on the latest and top mobile games that are refreshed on a daily basis. You can get free in-game content such as characters, themes, in-game currencies, power-ups, and more. Just log in with your Amazon account to claim the benefits and in-game content deals. Furthermore, you can subscribe to the company’s newsletter for free and exclusive in-game content drops.

Amazon Return Policy

• In order to avail of the return benefits, you need to check the return window on your product page before placing the order.
• The items are returnable in either 7 days or 10 days depending on what you order.
• Some items like jewelry and luggage bags have a 30-day return day window.
• If you receive a non-returnable product in a damaged condition, you can contact the support team within 10 days. You may get your order replaced.
• If the exact same product is not available with the seller during an exchange, the total amount would get refunded.
• In case of some damaged items, you do not even need to return them, but you could still enjoy a refund.

Amazon Shipping Policy

The delivery of your order changes as per the type of product, your location, and the seller. Some orders qualify for free shipping as well. In order to know your exact shipping charges and the delivery time, simply place the product in the cart and proceed to checkout.

Amazon India – Latest News

Amazon creates 1.6 million jobs in India

eCommerce giant, Amazon has said that it has created a total of 1.16 million (11.6 lakh) direct and indirect jobs in India. According to a release, the company has enabled about $5 billion in exports and has digitized 4 million MSMEs in the country, so far. By 2025, the company aims to digitize 10 million MSMEs, creating 2 million jobs and enabling $10 billion in exports.

Frequently Asked Questions

Does Amazon Offer Discounts?

Yes, Amazon does offer discounts on a variety of products, including essentials, groceries, and many more.

How to get Amazon promo codes?

There are a few ways to get Amazon coupon codes. One way is to sign up for the company’s promotional email list.

Can I earn reward points on all purchases on Amazon?

Yes. Earn unlimited 5% reward points when you shop on Amazon.

Are there any Amazon Kindle books coupons available?

Yes. You can save more on Kindle books using codes available on our platform or check Amazon for the latest offers.

How can I find a hidden Amazon promo code?

Get up to 70% by clicking on Today’s Deals section on Amazon’s coupon page. You can find it under the search bar on the homepage.

What is the Amazon voucher code today?

Using the latest code, you can save up to 80% on fashion, electronics, home, kitchen products, and other categories.

Can I apply multiple coupons on Amazon items?

No. Amazon does not allow using multiple coupons on a single product. You can choose the best deal from the available options to maximize saving and use it for further purchases.

What is the eligibility for free shipping?

Free Shipping is applicable on subscription purchases, on select products, or for Prime users.

The company also has some outlets in Ireland. Shops in China were unsuccessful, and closed down in 2015.

History

1969 to 1979: Early growth

B&Q was founded in March 1969 in Southampton, England, by Richard Block and David Quayle, following the purchase and fitting out of a former furniture warehouse in the Southampton suburb of Portswood. Originally called Block & Quayle, the duo soon shortened the brand to B&Q as stock delivery notes and invoices were already unofficially abbreviating the name.

By each working over sixty-hour, six-day weeks, they were able to repay their bank overdraft within six months of opening, with turnover reaching £1million within the first five years of operating. Following the departure of co founder Block in 1976, the chain quickly expanded, and by 1979, there were twenty six shops across the United Kingdom.

1980s: Buyout and further expansion

B&Q grew rapidly through a combination of mergers, acquisitions and expansions, such as the acquisition of Scottish based company Dodge City at the beginning of the 1980s. The chain was itself acquired by the F. W. Woolworth Company for £16.8m at the beginning of the 1980s, coinciding with David Quayle selling his share, who by that time had a personal wealth of £4 million.

Two years later, F. W. Woolworth’s United Kingdom subsidiary (Woolworth’s Ltd.) and B&Q were purchased by Paternoster, now known as Kingfisher plc and still B&Q’s parent company.

B&Q developed two new trading formats: HomeCentres, retailing furniture, bathrooms, soft furniture, flooring and lighting; and AutoCentres, being similar to a Halfords, the first launch taking place at Cribbs Causeway, Bristol, at the end of the 1980s. The concept being to have a HomeCentre, AutoCentre and DIY Superstore with one communal car park.

The forays into these new markets were relatively short lived, and the various sites were sold on a couple of years later. The AutoCentres becoming in the main ‘Charlie Browns’, the HomeCentres being sold off individually.

1990s to present

In the mid 1990s, B&Q opened a new format of shop known as the Depot (later changed to B&Q Depot), a forerunner of a new class of shop known as the B&Q Warehouse. The company also began to expand outside the United Kingdom. In 1995, the retailer opened their first overseas subsidiary in Taiwan, and in January 1996, the first overseas large home improvement centre in Taoyuan City, Taiwan.

In September 1998, it acquired NOMI, Poland’s leading chain of DIY shops, and later that year, merged with France’s Castorama.

The following year, B&Q opened a shop in Shanghai. In December 2000, Kingfisher plc acquired twenty eight development sites, intended to house future shops of rival chain Homebase from Sainsbury’s, who sold the chain. The development sites instead housed shops of B&Q. In August 2001, B&Q opened its first shop in Shanghai, when it hoped to increase outlets from four to 58 by 2005.

B&Q opened its first shop in Hong Kong on 1 June 2007, but was scheduled to close it on 13 September 2009. In December 2007, Kingfisher sold its 50 per cent stake in B&Q Taiwan to its joint venture partner. The $106.5 million (£51.6 million) sale, producing a profit of £25m was used to reduce debt.

In March 2009, B&Q closed twenty two of its then sixty three shops in China, blaming the housing slump. In May 2011, B&Q agreed to acquire thirty one shops in the United Kingdom, from the administrators of Focus DIY for £23 million. During 2011, B&Q opened a new regional distribution centre, at G.Park in Swindon.

In 2020, B&Q announced a sales increase of 17.6pc to £3.5bn for the quarter to October 31, caused by the COVID-19 pandemic during which people spent money on home improvements.

In March 2021, B&Q said that it is expected to open in Saudi Arabia by fall introducing home improvement products.

Customers

B&Q were reported to have a customer base of seven million in July 2016, of which it was estimated 75% use the retailer’s website to research their desired products, prior to purchasing in shop. B&Q have customer loyalty schemes, such as the Diamond Club scheme which entitles members over the age of 60 to a 10% discount on Wednesdays on many garden products. However, no new customers are able to join the scheme, after changes were announced on 2 August 2018.

Corporate affairs

The retail chain offers over 40,000 products across their three hundred shops and through their online presence. Reports in May 2007 suggested it was the second largest in Europe, and the fourth largest in the world (behind the Home Depot, Lowe’s and OBI).

Shops

By 2000, B&Q had fifty one large warehouse shops; this had doubled by 2003. By May 2014, B&Q in the United Kingdom had 359 shops, and 20,887 employees; and eight shops in Ireland.

In March 2015, Kingfisher said it would close sixty shops of B&Q in the United Kingdom and Ireland over the next two years. It would also close a few loss making shops in Europe. It also said that B&Q UK and Ireland could adequately meet local customer needs, from fewer shops, and some shops should be smaller.

Financial performance

B&Q account for around a third of their parent company’s revenues, seeing like for like sales increase by 5.6% in August 2016. In the year ending 31 January 2007, sales were £3.9 billion despite overall sales falling by 1.7% compared to the previous year, whilst profit was £162.9 million, a fall from £208.5m during the previous year. Profit fell further in the year ending 31 January 2008, to £131million.

ASOS originally stood for AsSeenOnScreen with the tagline “Buy what you see on film and TV” because it exclusively sold imitations of clothing from those mediums (for example, Brad Pitt’s red leather jacket from the 1999 film Fight Club). However, it no longer has that meaning and is generally stylised as an uppercase acronym, although the company’s logo represents it in lower case.

ASOS’ headquarters are in Camden Town, at Greater London House, with additional offices in Berlin and Birmingham. As of 2013, their main fulfilment centre is in Barnsley, South Yorkshire, where they employ 3,500 workers. The customer care department is based in Leavesden. The Danish company Bestseller A/S, owned by the business magnate Anders Holch Povlsen, is ASOS’ largest stakeholder, with a 26% share.

History

2000–2004: Founding and listing

ASOS was established on 3 June 2000, by Nick Robertson, Andrew Regan, Quentin Griffiths, and Deborah Thorpe. In 2001, ASOS was admitted to the Alternative Investment Market (AIM) on the London Stock Exchange. In 2003, ASOS shareholders agreed to change the names of AsSeenOnScreen Holdings PLC and AsSeenOnScreen Limited to ASOS plc and ASOS.com Limited. In 2004, the company reported a maiden profit, with sales almost doubling in its first half. In 2004, ASOS introduced their own label for women’s clothing.

2005–2012: Development

In 2005, the Buncefield Fuel Depot explosion led to the closure of the business for six weeks and £5m of stock was lost. In 2008, ASOS debuted kidswear on its site, however the branded market subsequently suffered declines at the expense of fast-growing own-label kidswear offers. In 2010, ASOS announced it would no longer offer kidswear, to concentrate on its core young adult fashion market.

In the final quarter of 2010, ASOS launched three international online shops in Germany, France and the US. In November 2010, ASOS launched its marketplace platform for boutiques, vintage collectors, individuals and designers to trade from virtual market stalls to customers globally.

In September 2011, ASOS launched three more sites in Australia, Italy and Spain. In 2012, ASOS opened its first international office in Sydney, Australia, followed by an office in New York.Later on, the company launched its first drama-game show series, called #DIGIDATING, starring AJ Odudu. It was billed as an Internet dating show with backstage drama.

2013–present: Global expansion

In 2013, ASOS opened its first office outside the South East, in Birmingham. Later in 2013, ASOS recalled belts contaminated with radioactive cobalt-60. ASOS Russia and China were launched in the same year. In 2014, a fire in the Barnsley warehouse prevented them from taking orders for almost three days. During the 2014 Formula One season, ASOS was a sponsor of the McLaren Formula One team. In 2015, ASOS had over 4,000 employees and was the UK’s largest independent online and fashion beauty retailer.

In September 2016, an investigative report from Buzzfeed News alleged poor working conditions at ASOS’ warehouse. However, company spokespersons contended that the isolated complaints reported in the Buzzfeed article were not reflective of the general working conditions there.^[25][26]

In April 2019, ASOS informed its clients through email that the company is looking into ways of changing its easy returns policy, after research showed customers were manipulating the easy return process. The company also admitted that the previous return policy was environmentally costly.

In April 2020, during the COVID-19 pandemic, ASOS was accused by some staff and workers unions of “playing Russian roulette with people’s lives” by failing to adequately enforce preventative measures in their Grimethorpe, Barnsley site. It was claimed that warehouse staff could not safely operate whilst maintaining social distancing, that the staff felt unsafe and that ASOS’s product was not actually essential, thus not meeting the UK Government’s recommendation that only essential workplaces remain open. The company refuted these claims, claiming they had sufficiently changed their operation to comply, Barnsley Council also inspected the site and found that the company was complying.

In October 2020, ASOS Marketplace announced that it would not be charging commission rates on small business transactions to provide support through the COVID-19 pandemic for sellers.

In April 2021, ASOS has partnered with delivery company DPD of DPDgroup to allow shoppers the option to donate unwanted clothing to charity.^[34] In June 2021, ASOS launched a partnership with Lush Fresh Handmade Cosmetics.

In February 2021, it was announced that ASOS was to acquire the Topshop, Topman, Miss Selfridge, and HIIT brands from collapsed Philip Green’s Arcadia Group. On 4 February, the three former Arcadia Group brands became wholly owned subsidiaries of ASOS with 300 head-office staff members from Arcadia and Topshop/Topman Limited.

In November 2021, Ian Dyson became Chair.

Following the Russian invasion of Ukraine in 2022, ASOS suspended operations in Russia.

Digital marketing

In November 2009, ASOS claimed a ratio of one Twitter follower to eight Facebook fans to 100 active e-mail subscribers. Their 2008 report pointed out that nearly 10% of sales could be directly attributed to email marketing.

In 2017, ASOS launched a campaign intended to take full advantage of the Instagram Stories feature, encouraging users to upload videos of purchased ASOS products. 3 million people interacted with the video in the UK. ASOS uses the #AsSeenOnMe hashtag and any use of the hashtag adds the photos to an ASOS online database.

History

Boohoo was founded in 2006 by Mahmud Kamani and Carol Kane, who respectively serve as group executive chairman and an executive director, and who previously supplied high street chains such as Primark and New Look. The company completed its initial public offering (IPO) in March 2014, with its shares trading considerably above the 50p float price on the company’s debut in the AIM sub-market of the London Stock Exchange. Valuing Boohoo at almost £600 million, the floatation saw Kamani net £135 million and Kane £25 million.

Boohoo has been criticised for promoting fast-fashion which critics claim comes at a cost to those making the clothes and the environment. More than half of Boohoo’s garments are produced in the UK, especially Leicester, London, and Manchester. Boohoo buys 75%–80% of the clothing produced in Leicester. This was made possible when other retailers such as ASOS reduced the amount they sourced from Leicester over concerns about working conditions. In 2017, the Channel 4 television documentary series Dispatches found that factories in Leicester supplying Boohoo (along with New Look, River Island and Missguided) were paying workers less than the national minimum wage. Boohoo stated that the work had been subcontracted without their knowledge.

In August 2019, the online businesses of Karen Millen and Coast were bought out of administration by Boohoo for £18 million. Only the online employees were taken on by Boohoo and the standalone retail stores eventually closed.^[9] Early in the COVID-19 pandemic, Boohoo reported an increase in sales.^[10] In June 2020, Boohoo announced that it was to acquire the brands and websites of high street chains Oasis Stores and Warehouse for £5.25 million.

In late June 2020, workers’ rights group Labour Behind the Label produced a report that stated factories supplying Boohoo were not following to social distancing and forcing employees to work even if sick, claims that Boohoo denied. This was followed by an investigative report by The Sunday Times which claimed to have found that workers producing clothes for Boohoo at a Leicester-based company were paid £3.50 an hour, less than half the UK minimum wage for over 25s. Boohoo again distanced themselves from the company, a representative stating “We are taking immediate action to thoroughly investigate how our garments were in their hands, will ensure that our suppliers immediately cease working with this company, and we will urgently review our relationship with any suppliers who have sub-contracted work to the manufacturer in question.” Standard Life Aberdeen, an asset manager and a top 10 shareholder in the group, announced that it had sold most of its stake in the company a few days after the Sunday Times revelations. SLA said that after engaging with Boohoo’s management team a number of times during the week, it found the online retailer’s response to the allegations was “inadequate in scope, timeliness and gravity”. On 15 July 2020 a Conservative Party MP said that it was ‘shameful’ that it took a pandemic for Boohoo to finally be taken to task for its workplace practices. Philip Dunne, chairman of the Environmental Audit committee, also said that the company had not met a pledge to join the Ethical Trading Initiative organisation which brings together retailers, unions and campaign groups to improve practice in supply chains.

In September the company accepted the findings of a report by Allison Levitt QC, which found that the allegations of poor working practices in the company’s supply chain were “substantially true”, that its monitoring of the factories was “inadequate” due to “weak corporate governance”, and that its failure to assess the risk to workers during the coronavirus pandemic were “inexcusable”. In November 2020 it appointed former judge Sir Brian Leveson to provide independent ethical oversight. An investigation by The Guardian newspaper in December 2020 traced Boohoo’s supply chain to factories in Pakistan where workers claimed to be paid as low as £47 a month, less than the legal minimum wage, and ordered to work to shifts as long as 24 hours without receiving full overtime pay.

In January 2021, following the collapse of the UK department store chain Debenhams, Boohoo bought the brand and online business for £55 million. The deal did not include the firm’s stores or workforce, leading to a predicted loss of 12,000 jobs. In February, Boohoo announced it was buying the former Arcadia Group brands: Burton, Wallis and Dorothy Perkins for £25.2 million, confirming the loss of around 2,450 jobs.

In December 2021, Boohoo has announced the expansion of operations into five new markets within the Asian region including Japan, Korea, Singapore, Hong Kong and Taiwan.

Business operations

According to Chief executive Carol Kane, Boohoo can differentiate itself from its closest rivals, as all their clothing ranges are own-branded with average prices of £17 as of March 2014, comprising 9,000 clothing lines. With a primary focus on the 16–24 year old age group, it sells clothing to over 100 countries and as of June 2014 had seven major markets, including the UK, the US, and France. Stock is purchased in small quantities of between 300 and 500 items at a time, with repeat orders typically of 25% on those that sell well. Customers can order items up to midnight for next-day delivery, including on Sunday. Customer numbers increased by 29% throughout 2016–17, up to 5.8 million.

Distribution centre

Since 2010 the company’s main distribution centre has been located on the Heasandford Industrial Estate in Burnley, Lancashire. From an initial 40 employees, the site has rapidly expanded into Burnley’s largest employer, with workforce exceeding 3,500 in 2021. The company has acquired more buildings on the estate, formerly occupied by manufacturers such as TRW Automotive, and plans to continue to grow in the town. Boohoo’s head of logistics said in 2021, “Ease of distribution is key and the borough sits in the heart of the UK, whilst it also provides a skilled and varied workforce.

Corporate affairs

Boohoo also owns boohooMAN, PrettyLittleThing, Nasty Gal and MissPap, all targeted at 16–35 year olds. PrettyLittleThing was acquired in December 2016, with the retailer purchasing a 66% stake in the business at a cost of £3.3m, with the existing management team retaining the remaining shares.

During the year up to April 2017, customer browsing from mobile devices accounted for 70% of total sessions, an increase of 4% from the previous year, with downloads of its mobile app across the United Kingdom, United States and Australia totalling around 2.2 million.