Malique Morris
DTC Correspondent

Malique Morris is Direct-to-Consumer Correspondent at The Business of Fashion (BoF). He is based in New York City and covers digitally-native brands and shifts in the online shopping industry. Previously, Malique was a retail and e-commerce reporter at The Information. He has a Bachelors in Television & Radio from Brooklyn College at City University of New York, and Masters in Business & Economics Reporting from Craig Newmark Graduate School of Journalism at City University of New York.

The News in Brief

Alibaba Group president J. Michael Evans has resigned from Farfetch’s board, the luxury e-tailer disclosed in a regulatory filing Wednesday.

The luxury e-tailer saw modest growth as aspirational luxury consumers cut back on nonessential spending. In its first quarter of the year that ended in September, Mytheresa’s gross merchandise volume — a measure of goods sold on the platform — rose 3 percent year over year to €204 million ($224 million), against a 13 percent increase in the previous quarter.

Warby Parker’s revenue jumped 14 percent to $170 million in the third quarter of the year, an increase propelled by 11 new store openings, product launches and higher sales of its contact lenses. But the company’s stock price still fell over 20 percent after the earnings release, as gross margins dropped to 55 percent from 57 percent a year earlier.

UPS on Wednesday announced that it bought reverse logistics start-up Happy Returns from its previous owner PayPal for an undisclosed sum. The deal is expected to close in the final quarter of the year.

The multi-brand specialty retailer on Friday filed for Chapter 11 bankruptcy, following a continued decline in sales post-pandemic that left it unable to pay back mounting debt.

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