When Kim Kardashian unveiled her beauty line SKKN with a Los Angeles mall pop\u002Dup in November, the world took note of her minimalist store, where concrete…
When the COVID-19 pandemic began and brick-and-mortar stores closed, big-name brands — Remy Cointreau, Crayola and Glossier — and pandemic-rattled small businesses flocked to Shopify. The interest pushed its stock up to an all-time high of $213 last November and inspired the hiring of 2,021 employees in 2021 alone.Article contentBy this spring, the company long lauded as Canada’s top unicorn had seen its pandemic gains erased.
Romanoff sees the network as a “no man’s land” because Shopify acquired several logistics companies to advance its shipping capabilities, but the venture only launched in 2019, so it hasn’t reached full scale.Article contentThe Seattle e-commerce behemoth wields cheaper prices and same-day shipping to dominate, making Rick Watson believe “Shopify is never going to try to match Amazon parcel for parcel and speed for speed.
Finkelstein, who used the pandemic to build a tea company with DavidsTea’s founder, chalked it up to “different people, different life plans.”However, he’s excited about the next tour. Vice-president of product Kaz Nejatian will take over for Shannan and Jeff Hoffmeister, who Finkelstein was “dreaming of working with since 2014,” will assume Shapero’s role.Article content
Yet he’s confident the company can get back there and perhaps even retrench some of its stock losses.
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Shopify's $118 billion rout slows Canada's stellar stock-market runShopify Inc.’s 70% plunge has almost single\u002Dhandedly dragged the Canadian stock market into the red this year, taking the shine off what would otherwise be one…
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