DTC's Daily Digest gives you the latest news on the fastest growing brands in the world. In today's edition: Ola is coming to London. E-commerce veterans start ITCH; and AUrate expansion plans.
Ola is coming to London
Business presence in the UK Is due to grow more, With the business poised to launch in London.
This news is expected since April, when Ola announced her intention to open up in the capital, where it was launched in three other cities: Reading, Liverpool and Birmingham. While the previous three launches were notable, Ola's presence in the capital clearly sets out his intention to acquire Ober, one of London's largest markets outside the United States.
Bangalore-based Ola is now looking for drivers before being launched in London in late summer or early autumn. The horseback riding company aims to offer discounts when it first arrives in the London market, although its prices will be similar to those of Ober in the long term. Ola It will also provide drivers with greater chunks of their travel, a move that can help with recruitment.
Competing city is Become More intense: Bolt – formerly known as Taxify – returned to London in June. The French company Kapten, supported by Daimler and BMW, also started to stir up a fuss.
It's certainly a fun time for Ola, with more recently secured financing, and Expand its electric fleet.
E-commerce veterans start ITCH
Brand new subscription-based pet welfare Itch Launches Today, With the aim of disrupting the pet care market.
The brand initially collected about £ 5 million from Seedcamp, Nigel Wray and Cox YYX Capital Among other things, with an additional £ 10 million injection plan for the fourth quarter of 2019 to support the launch of the US brand in the first quarter of 2020.
Co-founder James Cox (co-founder of Simba Sleep Technology), animal feed retailers Johnnie and Adam Gold (co-founders of Monster Pet Supplies), Charlotte Harper (former CMO of Zoopla and UK MD Match.com) , ITCH is initially launched with flea care subscription service.
ITCH will also provide extensions to the wider pet care market with calming, skin and joint products and innovative personal teeth. There are also plans to use user-generated, user-generated content to create an online platform and community, in collaboration with its team of veterinary experts, designed to answer a large number of questions faced by pet owners daily.
With research conducted by Mintel, which suggests that the UK pet care market will reach £ 2.1 billion by 2023 and that the UK's used goods market is estimated at £ 370 million by 2021, ITCH is in a position to By taking a big bite out of the market.
Expansion plans AUrate
New York-based AUrate, a New York-based jewelry company,Networks to accelerate growthAfter receiving $ 13 million (£ 10 million) in funding last month.
that Chain The tour is the largest in the fine jewelry category so far and is one of the largest in the consumer field. Through its financing round, AUrate plans to expand its fast-growing online and offline operations and direct investment in technology.
Prior to that, the brand had already received US $ 2.6 million (£ 2.1 million) in initial funding to set up a trademark team and enable them to compete effectively against brands such as Tiffany & Co. and Cartier. AUrate's revenues grew at a steady 400% year on year, while retail sales doubled and the company became profitable. About 90% of AUrate customers are women and more than 40% return.
In addition to selling jewelry online, AUrate also operates two brick and mortar stores in New York, with a third establishment in Washington DC.