Recently in Logistics: A new report shows, Canada’s apparel e-commerce market fell 2.2% to C$6.9 billion last year. Lolë has acquired Louis Garneau Sports to expand its sportswear line. Dollarama’s revenue rose 7.4% to $1.56 billion, Zara will launch its secondhand marketplace, Zara Pre-Owned, in the U.S. by October and Trendex forecasts a 4.2% increase in Canadian luxury apparel sales in 2024. Learn more by reading our latest logistics update
Canadian Apparel E-commerce Poised for Growth
In 2023, Canada’s apparel e-commerce market dropped 2.2% to C$6.9 billion, making up 19.4% of total sales. Trendex forecasts a 0.9% growth in 2024 and 6.1% by 2027. Factors include inflation, competition from Shein and Temu, and a shift to in-store shopping, especially in luxury apparel, which saw a 5%-8% online drop. Shein became Canada’s top online apparel retailer, followed by Walmart and The Gap.
Lolë Acquires Louis Garneau Sports to Expand Offerings
Lolë has acquired cycling apparel brand Louis Garneau Sports to strengthen its sportswear portfolio. This acquisition allows Lolë to expand its product range and focus on innovation. Louis Garneau’s expertise in cycling gear will support Lolë’s growth in the global market. This marks Lolë’s third acquisition since 2023. Financial terms were not disclosed.
Source: Retail Insight Network
Dollarama Gains as Economic Pressures Drive New Shoppers
Dollarama’s revenue grew 7.4% to $1.56 billion, boosted by budget-conscious shoppers and increased visits, including from wealthier customers. Profits rose 13% to $285.9 million, and shares jumped 8.18%. CEO Neil Rossy highlighted their wide product range and expects stronger holiday sales in Q4.
Source: CEO World
Zara to Launch U.S. Secondhand Service
Zara will introduce its secondhand marketplace, Zara Pre-Owned, in the U.S. by October, allowing customers to sell, donate, or repair used clothing. This initiative, launched in 2022, aligns with the brand’s sustainability goals. The growing popularity of secondhand shopping, especially among budget-conscious millennials, has been driven by platforms like eBay and Poshmark.
Source: PYMNTS
Canadian Luxury Apparel Market Growth Slows in 2024
Trendex predicts Canadian luxury apparel sales will rise by 4.2% in 2024, despite economic pressures. Sales surged by 10.9% in 2023, driven by factors like foreign tourism and expanded luxury zones. However, a slowdown in consumer spending has prompted a downward revision of initial forecasts.
Source: Retail Insider
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