Latest news with #AuthenticityGuarantee
Fibre2Fashion
01-08-2025
- Business
- Fibre2Fashion
US' eBay posts $5.31 bn H1 revenue, Q2 earnings surpass expectations
American e-commerce leader eBay Inc has reported a net revenue of $5.31 billion in the six months period ended June 30, 2025, rising 3.5 per cent year-over-year (YoY), and gross profit increased to $3.81 billion, as cost of revenues grew to $1.5 billion. The operating expenses rose to $2.71 billion, driven by modest increases across all categories including product development ($783 million), general and administrative expenses ($632 million), and sales and marketing ($1.12 billion). The operating income of the company stood at $1.1 billion, and it reported a net loss of $6 million on equity investments and warrants, while interest expense totalled $123 million, partially offset by $140 million in interest income and other gains. As a result, income from continuing operations before taxes increased to $1,111 million. After accounting for a $237 million tax provision, eBay's net income rose to $871 million. American e-commerce giant eBay Inc has reported H1 FY25 revenue of $5.31 billion, up 3.5 per cent YoY, with net income rising to $871 million. Q2 revenue rose 6 per cent to $2.7 billion, with GMV at $19.5 billion and non-GAAP EPS of $1.37. The company expanded eBay Live, boosted ad revenue, and strengthened its Klarna partnership. Q3 revenue is projected between $2.69â€'$2.74 billion. Earnings per share (EPS) in the first half (H1) improved, with basic EPS reaching $1.87 and diluted EPS at $1.84. For the second quarter (Q2), the company posted a robust result, with revenue rising 6 per cent YoY to $2.7 billion and gross merchandise volume (GMV) reaching $19.5 billion. On a foreign exchange-neutral basis, both revenue and GMV were up 4 per cent. The company delivered GAAP earnings per share (EPS) of $0.79 and non-GAAP EPS of $1.37. The net income from continuing operations surged 63 per cent YoY to $369 million on a GAAP basis and 7 per cent to $643 million on a non-GAAP basis. Operating margins stood at 17.7 per cent (GAAP) and 28.4 per cent (non-GAAP), the latter improving from 27.9 per cent in the same quarter last year. Operating expenses in Q2 totalled $1.5 billion. This included $586 million in sales and marketing, $421 million in product development, $371 million in general and administrative expenses, and $86 million in provisions for transaction losses. Basic and diluted EPS in Q2 were $0.8 and $0.7, respectively. The company officially launched eBay Live in the UK at Comic-Con London and kicked off eBay Live on Tour in the US, bringing next-generation livestream shopping and collector-focused experiences to consumers across cities, eBay said in a press release. The Authenticity Guarantee programme inspected over one million items in a single quarter, supported by luxury apparel authentication in the UK and expanded eligibility for streetwear in the US. The advertising revenues of the company reached $482 million, representing 2.5 per cent of GMV, with first-party ad products delivering $455 million—up 19 per cent as-reported and 17 per cent FX-neutral. eBay also expanded its Klarna partnership, strengthening Buy Now, Pay Later services across the US. The company also released its 2024 Impact Report, underlining its focus on economic opportunity, sustainable commerce, and workforce inclusivity. 'eBay delivered another strong quarter, with results exceeding expectations across the board,' said Jamie Iannone, chief executive officer (CEO) at eBay . 'Our momentum reflects the strength of our strategic execution and the resilience of our marketplace. We remain focused on driving long-term growth and creating lasting value for our shareholders.' 'I am thrilled to have stepped into the role of CFO at such an exciting time for eBay, and the innovation, operational discipline and customer focus I've seen across the company are truly energising,' said Peggy Alford, chief financial officer (CFO) at eBay . 'With a strong balance sheet, focused strategic priorities and a world-class team, we are well positioned to thrive in our next phase of growth. I am committed to driving operational excellence and disciplined capital allocation to support our long-term ambitions and unlock meaningful value for our shareholders.' For the third quarter (Q3) of FY25, eBay expects revenue between $2.69–2.74 billion and GMV of $19.2–19.6 billion, both reflecting FX-neutral growth of 3–5 per cent. The company forecast GAAP EPS of $0.97–1.02 and non-GAAP EPS of $1.29–1.34. Fibre2Fashion News Desk (SG)
New York Times
26-03-2025
- Entertainment
- New York Times
The Mystery of Melania Trump's Wedding Dress and an eBay Sale
Is it or isn't it? On Tuesday, a listing surfaced on eBay purportedly offering Melania Trump's wedding dress for sale. You know, the one designed by John Galliano for Dior couture, reportedly costing more than $100,000, worn by the first lady at her Mar-a-Lago wedding to Donald Trump and featured on her only Vogue cover, in February 2005. The dress, priced at $45,000 by a woman who identifies herself as Svjabc1 and is in Massapequa, N.Y., is described as being 'made of duchesse satin' with 'a figure-hugging silhouette, a 90-meter voluminous skirt and embroidered with 1,500 Swarovski diamonds.' According to the listing, the seller bought the dress from Mrs. Trump for her own wedding in 2010 for $70,000. It does not come with any proof of authenticity, other than 21 photos highlighting its billowing train and diamanté embroidery, which are juxtaposed against the famous Vogue cover, presumably to show the similarity. The magazine story, which described the soon-to-be-Mrs. Trump's search for her gown during the couture shows, also contained many details about the dress that made news at the time and have resurfaced with the sale, including the fact that it weighed 60 pounds and took 550 hours to complete. Almost immediately the news was embraced by numerous outlets, proclaiming, 'You Can Buy Melania Trump's Wedding Dress' (The Spectator) and 'How Much Would You Pay for Melania Trump's Wedding Dress?' (The Cut). As of Wednesday morning, the listing was being 'watched' by 224 people. Leaving aside the fact that the seller acknowledges on the listing that she made 'a few changes' to the gown — more satin, more embroidery and straps — which means it no longer looks identical to Mrs. Trump's gown, there's another problem. The designer Hervé Pierre, Mrs. Trump's longtime stylist (he made her inauguration gowns in 2017 and 2025), said of her wedding dress, 'I stored the gown myself in Palm Beach.' And then added, 'Two years ago.' Neither the first lady's office nor the seller responded to multiple requests for comment. Dior likewise declined to comment on the dress, noting that it was a policy not to discuss interactions with couture clients. A spokesman pointed out, however, that a couture gown always comes with a label and a number. To authenticate it, he said, they would need to see the dress in person. Mr. Pierre said that the wedding dress he stored in Florida for Mrs. Trump had a label on the side as well as a ribbon with a reference number. In the multiple close-ups of the gown for sale on eBay, none shows a label. Alexis Hoopes, the vice president for fashion at eBay, said the company was founded on trust and referred to its widespread Authenticity Guarantee policy, which covers watches, handbags, jewelry, streetwear, sneakers and trading cards, though she acknowledged that the guarantee program did not extend to 'the item in question.' Still, the decision to use eBay to sell a historic garment, albeit one that has been altered, is a peculiar one, said Cameron Silver, the owner of the Los Angeles vintage boutique Decades. 'I would always suggest an auction house for historic garments with provenance,' he said. Companies like Christie's have auctioned clothes from figures like Audrey Hepburn, while Julien's in London sold Princess Diana's gowns, and Kerry Taylor Auctions handled the clothes of Elizabeth Taylor, Leslie Caron and Jerry Hall. The listing first came to attention through Liana Satenstein's Substack, Neverworns. Ms. Satenstein said she became aware of it through a friend, Patricia Torvalds, who was looking for a vintage wedding dress and had been corresponding with the seller. According to Ms. Torvalds, the seller, who has been on eBay since November 2021, has moved 119 items and has a positive feedback rating of 98.8 percent, said she had sourced the dress through another friend, who claimed to know Mrs. Trump. According to eBay messages between the two women that were seen by The New York Times, the seller said the label was taken out when the dress was altered by the seamstress and never replaced. (She also has a number of other items listed on eBay, including a diamond wedding band made as a replica of the one Mrs. Trump wore on her wedding day.) She said that she was getting a lot of messages from people curious about the gown and its origins. Nevertheless, the listing is still up. Where the dress may actually have come from is unclear. Often, when a well-known figure gets married in a public way and the gown is featured in a magazine like Vogue, it will be copied by any number of bridal designers and offered for sale. The original dress was inspired by a look from Mr. Galliano's 'Empress Sissi' Dior couture collection in February 2004, so it is possible that a sample was sold. In any case, the willingness of many people to accept the idea that the dress could have belonged to Mrs. Trump and that she was willing to sell her wedding gown — a garment it is generally accepted most people keep forever — is a reflection of the complicated feelings people have about the Trumps, their relationship and the precedents they have set in monetizing their lives. Indeed, Mrs. Trump herself sells jewelry, ornaments and her own memecoin via her website. In 2022, in a break with first lady precedent, she auctioned off another historic piece of clothing from her wardrobe rather than donating it to the National Archive: the white hat she wore in 2018 during the first Trump administration on the occasion of the French state visit. Of course, at the time of that sale, the first lady made sure to sign the hat just in case there was any doubt where it had come from.
