Cross-border

London-based startup Kuai Commerce has raised 2.4 million dollars (2.22 million euros) in a funding round. The capital injection will be used to launch an ecommerce solution that helps European merchants to sell their wares in the East.

Leading ecommerce platform Shopify is launching Translate & Adapt. The tool, which works with Shopify Markets, offers localisation for merchants looking to expand to new markets. The new application is available worldwide as of this week.

The European online fashion retail market is set to grow 50 percent by 2025. The online turnover of this market will reach 175 billion euros, which equals 33 percent of the retail branch’s total. Cross-border marketplaces are the biggest drivers behind these growth.

Dutch fashion platform Otrium made considerable losses in the past year. The company is 50 million euros in the red. The year before, losses were at 8.4 million euros. This is mostly due to bonuses as well as further company expansion.

Chinese fashion retailer Shein is looking to expand in Europe. At the same time, the company’s value has fallen around 30 percent. Shein has been under scrutiny about its labor conditions and environmental impact.

Popular German online pet supply store Zooplus has increased its total sales to 2.09 billion euros in 2021. This is a 16 percent growth when compared to a year before. The company lost market share to Fressnapf, but expects to increase sales to 2.3 billion euros in this year.

Eurora, which offers compliance solutions for cross-border ecommerce businesses, has raised 40 million dollars (37.94 million euros) in a Series A round. The capital injection will be used to accelerate the Estonian company's international expansion.

Cross-border ecommerce in Europe was worth 171.2 billion euros in 2021. This is a growth of 17 percent when compared to the year before. European online businesses generated a cross-border revenue of 100 billion euros.

German fashion retailer About You has released its preliminary Q4 and full-year results. It was able to grow its revenue between 48.3 and 50.5 percent when compared to a year before. However, the branch is also suffering millions in losses because of growth investments.

Online furniture retailer Made.com has shared its full year results for 2021. The cross-border seller reports a loss before tax of 37.8 million euros. This is a further decline of 18.8 million euros when compared to the year before. According to the company, this is a result of global supply chain challenges and inflation.

Online furniture and home goods retailer Wayfair has reported a net revenue of 12.2 billion euros in 2021. In 2020, the platform made a revenue of 12.6 billion euros, illustrating that sales have decreased slightly. However, it expects to grow strongly in the coming years. It wants to surpass the 100 billion euro revenue mark by 2030.

AO, the online electrical retailer, is considering leaving the German market. The company from the United Kingdom launched there in 2014 but is struggling due to fierce competition, increasing costs and supply chain issues.

European online retailer VidaXL has rebranded its dropshipping service to dropshippingXL. Since doing so, the company has grown its product range and logistics facilities. DropshippingXL now has plans to expand to more countries within Europe.

The Dutch online seller of cushions with infrared heating, has entered the French and Danish market. In addition to these countries, the company is already active in Germany, Belgium and Austria as well. Due to its fast growth, Stoov won the number one spot in the Dutch CrossBorder Top 30.

Though Dutch consumers are still placing more cross-border orders within the EU, in Q2 2021 there was a growth of 17 percent when compared to last year. In total, they spent more than 800 million euros in online stores within the EU. This is a slower growth than in previous quarters.