The $67 million investment in Allopneus will help Michelin better understand online tire buyers, the tire maker says.
The online footwear, handbag and jewelry retailer is shutting down its U.K. site.
Not every U.S. import sparkles when it crosses the pond. ShoeDazzle.com Inc., the fashion retailer co-founded by Kim Kardashian, is shuttering its U.K. spinoff site ShoeDazzle UK after just four months in business. The site, ShoeDazzle.co.uk, will close as of Jan. 31.
The retailer is selling the remainder of its existing inventory at 50%.
The move will enable the retailer, which sells subscriptions to shoppers who receive new footwear, handbags and jewelry each month, to focus on its core U.S. business, ShoeDazzle says in a note posted on its U.K. site. “Despite the tremendous support that we've received here in the U.K., we ultimately decided that at this time it was in our best interests to focus on the opportunities in our home market,” the note says.
ShoeDazzle’s U.S. site, which launched in 2009, announced last May that it had raised $40 million. The retailer has attracted a rabid Facebook following; more than 1.6 million consumers have Liked the retailer’s page. And nearly 50,000 Facebook users have interacted with ShoeDazzle’s Facebook page in the past seven days, Liking the page, posting to it or passing on content from it to their Facebook friends, according to Facebook data. In fact, a November report from social commerce technology company 8thBridge Inc. proclaimed that ShoeDazzle leads fashion retailers in employing social media to win business.
However, it appears that the brand couldn’t replicate that formula in the United Kingdom. The retailer’s note says it hopes to relaunch a U.K. site “someday in the future.”