The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
UK-based FigLeaves.com is growing so quickly in foreign markets that it plans to launch several warehouses to support fulfillment in the U.S., Japan, Australia and Singapore.
UK-based FigLeaves.com is growing so quickly in foreign markets that it plans to launch several warehouses to support fulfillment in the U.S., Japan, Australia and Singapore, founder and chairman David Nabarro tells InternetRetailer.com.
Nabarro, who has already invested in radio frequency identification technology to modernize his sole warehouse in the UK, says RFID will make it easier for him to afford additional warehouses. RFID enables him to more efficiently operate warehouses that support his constantly changing fashion business, he says.
"Our plan is to eventually put warehouses in all major markets of the world," Nabarro says. FigLeaves does most of its business now in Europe, but ships 8% of its products to the U.S. and sells into 92 countries in all. The additional warehouses will enable it to support expected growth outside Europe, Nabarro says.
FigLeaves, which operates a separate U.S. version of its web site, is planning to expand support for its U.S. customers with a new warehouse in North Carolina, where it currently maintains a facility for processing returns back to its sole warehouse in the UK.
Nabarro says he expects growth in international sales to expand far beyond his annual sales of about £16 million, which he figures is the threshold for posting full-year profits.