Latest news with #ecommerce
Arab News
2 hours ago
- Business
- Arab News
AI personal shoppers hunt down bargain buys
NEW YORK: Internet giants are diving deeper into e-commerce with digital aides that know shoppers' likes, let them virtually try clothes on, hunt for deals and even place orders. The rise of virtual personal shoppers springs from generative artificial intelligence being put to work in 'agents' specializing in specific tasks and given autonomy to complete them independently. 'This is basically the next evolution of shopping experiences,' said CFRA Research analyst Angelo Zino. Google last week unveiled shopping features built into a new 'AI Mode.' It can take a person's own photo and meld it with that of a skirt, shirt or other piece of clothing spotted online, showing how it will look on them. The AI adjusts the clothing size to fit, accounting for how fabrics drape, according to Google head of advertising and commerce Vidhya Srinivasan. Shoppers can then set the price they would pay and leave the AI to relentlessly browse the Internet for a deal — alerting the shopper when it finds one, and asking if it should buy using Google's payment platform. 'They're taking on Amazon a little bit,' Techsponential analyst Avi Greengart said of Google. The tool is also a way to make money from AI by increasing online traffic and opportunities to show ads, Greengart added. The Silicon Valley tech titan did not respond to a query regarding whether it is sharing in revenue from shopping transactions. OpenAI added a shopping feature to ChatGPT earlier this year, enabling the chatbot to respond to requests with product suggestions, consumer reviews and links to merchant websites. Perplexity AI late last year began letting subscribers pay for online purchases without leaving its app. Amazon in April added a 'Buy for Me' mode to its Rufus digital assistant, allowing users to command it to make purchases at retailer websites off Amazon's platform. Walmart head of technology Hari Vasudev recently spoke about adding an AI agent to the retail behemoth's online shopping portal, while also working with partners to make sure their digital agents keep Walmart products in mind. Global payment networks Visa and Mastercard in April each said their technical systems were modernized to allow payment transactions by digital agents. 'As AI agents start to take over the bulk of product discovery and the decision-making process, retailers must consider how to optimize for this new layer of AI shoppers,' said Elize Watson of Clarkston Consulting. Retailers are likely to be left groping in the dark when it comes to what makes a product attractive to AI agents, according to Watson. Analyst Zino does not expect AI shoppers to cause an e-commerce industry upheaval, but he does see the technology benefitting Google and Meta. Not only do the Internet rivals have massive amounts of data about their users, but they are also among frontrunners in the AI race. 'They probably have more information on the consumer than anyone else out there,' Zino said of Google and Meta. Tech company access to data about users hits the hot-button issue of online privacy and who should control personal information. Google plans to refine consumer profiles based on what people search for and promises that shoppers will need to authorize access to additional information such as email or app use. Trusting a chatbot with one's buying decisions may spook some people, and while the technology might be in place the legal and ethical framework for it is not. 'The agent economy is here,' said PSE Consulting managing director Chris Jones. 'The next phase of e-commerce will depend on whether we can trust machines to buy on our behalf.'
National Post
6 hours ago
- Business
- National Post
Mene Inc. Reports Financial Results for the First Quarter 2025
Article content TORONTO — Menē Inc. (TSX-V:MENE) (US:MENEF) ('Menē' or the 'Company'), an online 24 karat jewelry brand, today announced financial results for the first quarter ended March 31, 2025. All amounts expressed herein reflect Canadian dollars unless otherwise noted. Article content Article content FINANCIAL HIGHLIGHTS Article content IFRS Revenue of $7.3 million, an increase of $2.5 million (52%) Year-over-Year ('YoY'). Gross Profit of $1.7 million, with a consistent gross profit margin of 23% YoY. Total comprehensive loss of $0.2 million during the quarter, a significant improvement of $0.5 million YoY. Total metal weight of 45 kilograms was sold during the quarter, consisting of 4,336 units of jewelry. Article content OPERATIONAL HIGHLIGHTS Article content Introduced 12 new product designs during the quarter. Sales to Returning Customers accounted for 68% of total sales during the quarter. Cumulative units of jewelry sold reached 185,000 as of quarter end. Featured in 1,200-word Forbes article, Air Mail editorial with Diana W. Picasso as Guest Editor. Registered over 44,000 independent customer reviews on since inception. Article content IFRS Consolidated Income Statement Data & Key Performance Indicators (KPIs) 1 FY 2025 FY 2024 FY 2023 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Revenue $7,338,753 $9,118,982 $5,388,095 $6,464,004 $4,828,705 $6,862,070 $4,292,870 $4,982,901 Gross profit $1,721,276 $2,840,105 $1,799,433 $1,692,440 $1,135,878 $1,667,134 $949,989 $1,489,700 Gross profit (%) 23% 31% 33% 26% 24% 24% 22% 30% Net income (loss) $(209,882) $(1,073,600) $1,317,677 $(319,143) $(918,867) $(1,400,171) $(653,131) $699,620 Total comprehensive income (loss) $(232,428) $(302,168) $1,192,776 $(221,465) $(702,669) $(1,747,813) $(218,993) $254,343 Non-IFRS Adjusted Revenue 2 $8,231,951 $10,563,400 $6,488,620 $6,884,842 $6,531,647 $7,934,768 $5,211,227 $6,076,398 Adjusted EBITDA 3 $94,356 $668,655 $350,192 $163,865 $(375,016) $(138,659) $(543,263) $130,557 Total Shareholders' Equity 17,822,560 17,769,949 16,243,913 16,116,965 15,815,544 15,981,748 17,189,674 17,256,569 Inventory balance (kg of gold) 4 73 91 93 92 91 235 233 189 Customer orders 3,362 4,030 2,434 3,534 3,758 3,445 3,650 4,938 Units of jewelry sold 4,336 7,226 7,194 5,799 4,979 4,991 5,261 7,872 Jewelry weight sold (total kg) 45 73 42 58 45 45 48 73 Article content The Company's financial statements for fiscal year 2024 and 2023 were audited by an external assurance firm. The Company adjusts its revenue by adding back the value of jewelry that was returned by customers, revenue from orders for which fulfillment is under process, and discounts given to customers. These adjustments are made to assess the gross revenue before deducting these items from revenue per IFRS. See Non-IFRS Measures for a full reconciliation in the MD&A. The Company adjusts its net income (loss) by excluding depreciation and amortization, stock-based compensation, income taxes and interest. See Non-IFRS Measures for a full reconciliation in the MD&A. Inventory balances in kilograms of gold are calculated by taking the total Canadian Dollar (CAD) inventory value at each quarter-end date and dividing the value by the CAD gold spot price per gram. Article content The first quarter of 2025 was a relatively positive one for Menē. We attained revenues of $7.3 million, a growth of 52% over the same quarter last year. While we saw our average order value increase by 70% year-over-year, our number of orders decreased by 11% year-over-year. Now that we've successfully delivered on the core elements of our operational transformation, our strategic focus for 2025 and 2026 has moved to proving out sustained sales growth in our core market, the USA. Increasing the number of orders as well as the number of new customers that purchase our products is central for Menē to deliver long-term, sustainable and profitable growth. Article content There are many tactics being deployed to reach our goals and acquire new customers, while also growing and retaining existing ones. We are increasing the breadth of our PR activities to reach different customer segments, developing relationships with major publishing houses and key editors to extend our editorial reach, partnering with influencers who we believe can represent the Menē brand successfully to their followers, continually optimizing our digital advertising strategies and reviewing how we fundamentally leverage social media in a rapidly changing online luxury landscape. We also continue providing best-in-class customer service and have developed strategies to offer more tailored experiences and communications to increase customer satisfaction, loyalty and, ultimately, sales. Our customer focus remains on building long-term, personalized and meaningful relationships that maximize lifetime value. Article content Another approach we are testing to help new customer segments discover Menē is through retail partnerships. Alongside our existing retail partnerships and collaborations with Dover Street Market, the international, high-end, multi-brand retailer, and Huntsman, the world-renowned Savile Row bespoke tailor, we launched a partnership with Air Mail, a digital weekly newsletter and online store launched by former Vanity Fair editor-in-chief Graydon Carter and former New York Times reporter Alessandra Stanley. The partnership started as a guest editor appearance by our Co-Founder, Diana W. Picasso, and evolved into offering a curated collection of our jewelry on their online store. Article content We also surpassed a new milestone this quarter: Over $200 million in total metal is now held by our customers. 1 When compared to total revenues generated of over $150 million since inception, it means that, by this measure, our clients have accumulated roughly $50 million in aggregate value owning our jewelry. Taken together with the fact that Menē is merely 8 years into its journey leads us to believe that we are in the early stages of building a globally recognized, intergenerational luxury house. And while we certainly aspire and aim to have the longevity of some of the most storied brands in luxury, our mission of restoring the link between jewelry and savings puts us in a unique category. Because everything we make is pure gold or platinum, the stores of value we create for our customers we believe go beyond brand name recognition, scarcity, exclusivity, and other marketing elements that can erode over time. We strive to build Menē into a company that will endure the test of time, and whose focus is on unparalleled craftsmanship and customer service, rather than on market trends and other extrinsic factors. Article content By the way, it's not too late to get your hands on some of our new designs for Father's Day, whether it be the enigmatic Owl Ring or the tactile Snake Belly Cuff. I'm a big fan of the Steering Wheel Pendant myself. Whatever your taste, you're sure to find something of lasting value that will also make an impression: Article content This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company's performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company's operating results. Article content Non-IFRS Adjusted Revenue is a non-IFRS measure. The Company adjusts its revenue by adding back the value of jewelry that was returned by customers, revenue from orders not yet delivered, and discounts given to customers. These adjustments are made to assess the gross revenue before deducting these items per IFRS revenue. The closest comparable IFRS measure is revenue. Article content Non-IFRS Adjusted Income (loss) is a non-IFRS measure. Non-IFRS Adjusted Income (Loss) is a non-IFRS measure, calculated as total comprehensive income (loss), excluding depreciation and amortization, stock-based compensation, accretion, loss on debt retirement, revaluation of metal loan, translation gain or loss, unrealized foreign exchange gains or losses and other non-recurring expenses. The closest comparable IFRS measure is total comprehensive income (loss). Article content Adjusted EBITDA, calculated as total operating income (loss), excluding depreciation and amortization, stock-based compensation, other non-recurring expenses. The closest comparable IFRS measure is total operating income (loss). Article content Tangible Common Equity is a non-IFRS measure. It is calculated as total shareholder's equity excluding intangible assets. Article content For a full definition of non-IFRS financial measures used herein to their nearest IFRS equivalents, please see the section entitled 'Non-IFRS Financial Measures' in the Company's MD&A for the quarter ended March 31, 2025. Article content About Menē Inc. Article content Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value. Article content This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to its business plans and goals of the Company for the current financial year, the hiring of new management, estimated potential year over year growth, marketing plans and the announcement of future plans and milestones. Article content This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability to successfully acquire and/or develop jewelry manufacturing facilities; an inability to predict or control the negative effects of tariffs and global trading patterns; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics and other infectious diseases presenting as major health issues and impacting the price of precious metals, capital market conditions, restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company's shares; the Company's limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; inflation risks; risks related to changing consumer preferences; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance and availability of key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. Article content Article content Article content Article content Contacts Article content Media and Investor Relations Inquiries: Article content Article content Article content
Globe and Mail
6 hours ago
- Business
- Globe and Mail
Mene Inc. Reports Financial Results for the First Quarter 2025
Menē Inc. (TSX-V:MENE) (US:MENEF) ('Menē' or the 'Company'), an online 24 karat jewelry brand, today announced financial results for the first quarter ended March 31, 2025. All amounts expressed herein reflect Canadian dollars unless otherwise noted. FINANCIAL HIGHLIGHTS IFRS Revenue of $7.3 million, an increase of $2.5 million (52%) Year-over-Year ('YoY'). Gross Profit of $1.7 million, with a consistent gross profit margin of 23% YoY. Total comprehensive loss of $0.2 million during the quarter, a significant improvement of $0.5 million YoY. Total metal weight of 45 kilograms was sold during the quarter, consisting of 4,336 units of jewelry. OPERATIONAL HIGHLIGHTS Introduced 12 new product designs during the quarter. Sales to Returning Customers accounted for 68% of total sales during the quarter. Cumulative units of jewelry sold reached 185,000 as of quarter end. Featured in 1,200-word Forbes article, Air Mail editorial with Diana W. Picasso as Guest Editor. Registered over 44,000 independent customer reviews on since inception. IFRS Consolidated Income Statement Data & Key Performance Indicators (KPIs) 1 FY 2025 FY 2024 FY 2023 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Revenue $7,338,753 $9,118,982 $5,388,095 $6,464,004 $4,828,705 $6,862,070 $4,292,870 $4,982,901 Gross profit $1,721,276 $2,840,105 $1,799,433 $1,692,440 $1,135,878 $1,667,134 $949,989 $1,489,700 Gross profit (%) 23% 31% 33% 26% 24% 24% 22% 30% Net income (loss) $(209,882) $(1,073,600) $1,317,677 $(319,143) $(918,867) $(1,400,171) $(653,131) $699,620 Total comprehensive income (loss) $(232,428) $(302,168) $1,192,776 $(221,465) $(702,669) $(1,747,813) $(218,993) $254,343 Non-IFRS Adjusted Revenue 2 $8,231,951 $10,563,400 $6,488,620 $6,884,842 $6,531,647 $7,934,768 $5,211,227 $6,076,398 Adjusted EBITDA 3 $94,356 $668,655 $350,192 $163,865 $(375,016) $(138,659) $(543,263) $130,557 Total Shareholders' Equity 17,822,560 17,769,949 16,243,913 16,116,965 15,815,544 15,981,748 17,189,674 17,256,569 Inventory balance (kg of gold) 4 73 91 93 92 91 235 233 189 Customer orders 3,362 4,030 2,434 3,534 3,758 3,445 3,650 4,938 Units of jewelry sold 4,336 7,226 7,194 5,799 4,979 4,991 5,261 7,872 Jewelry weight sold (total kg) 45 73 42 58 45 45 48 73 The Company's financial statements for fiscal year 2024 and 2023 were audited by an external assurance firm. The Company adjusts its revenue by adding back the value of jewelry that was returned by customers, revenue from orders for which fulfillment is under process, and discounts given to customers. These adjustments are made to assess the gross revenue before deducting these items from revenue per IFRS. See Non-IFRS Measures for a full reconciliation in the MD&A. The Company adjusts its net income (loss) by excluding depreciation and amortization, stock-based compensation, income taxes and interest. See Non-IFRS Measures for a full reconciliation in the MD&A. Inventory balances in kilograms of gold are calculated by taking the total Canadian Dollar (CAD) inventory value at each quarter-end date and dividing the value by the CAD gold spot price per gram. STATEMENT FROM CEO VINCENT GLADU: The first quarter of 2025 was a relatively positive one for Menē. We attained revenues of $7.3 million, a growth of 52% over the same quarter last year. While we saw our average order value increase by 70% year-over-year, our number of orders decreased by 11% year-over-year. Now that we've successfully delivered on the core elements of our operational transformation, our strategic focus for 2025 and 2026 has moved to proving out sustained sales growth in our core market, the USA. Increasing the number of orders as well as the number of new customers that purchase our products is central for Menē to deliver long-term, sustainable and profitable growth. There are many tactics being deployed to reach our goals and acquire new customers, while also growing and retaining existing ones. We are increasing the breadth of our PR activities to reach different customer segments, developing relationships with major publishing houses and key editors to extend our editorial reach, partnering with influencers who we believe can represent the Menē brand successfully to their followers, continually optimizing our digital advertising strategies and reviewing how we fundamentally leverage social media in a rapidly changing online luxury landscape. We also continue providing best-in-class customer service and have developed strategies to offer more tailored experiences and communications to increase customer satisfaction, loyalty and, ultimately, sales. Our customer focus remains on building long-term, personalized and meaningful relationships that maximize lifetime value. Another approach we are testing to help new customer segments discover Menē is through retail partnerships. Alongside our existing retail partnerships and collaborations with Dover Street Market, the international, high-end, multi-brand retailer, and Huntsman, the world-renowned Savile Row bespoke tailor, we launched a partnership with Air Mail, a digital weekly newsletter and online store launched by former Vanity Fair editor-in-chief Graydon Carter and former New York Times reporter Alessandra Stanley. The partnership started as a guest editor appearance by our Co-Founder, Diana W. Picasso, and evolved into offering a curated collection of our jewelry on their online store. We also surpassed a new milestone this quarter: Over $200 million in total metal is now held by our customers. 1 When compared to total revenues generated of over $150 million since inception, it means that, by this measure, our clients have accumulated roughly $50 million in aggregate value owning our jewelry. Taken together with the fact that Menē is merely 8 years into its journey leads us to believe that we are in the early stages of building a globally recognized, intergenerational luxury house. And while we certainly aspire and aim to have the longevity of some of the most storied brands in luxury, our mission of restoring the link between jewelry and savings puts us in a unique category. Because everything we make is pure gold or platinum, the stores of value we create for our customers we believe go beyond brand name recognition, scarcity, exclusivity, and other marketing elements that can erode over time. We strive to build Menē into a company that will endure the test of time, and whose focus is on unparalleled craftsmanship and customer service, rather than on market trends and other extrinsic factors. By the way, it's not too late to get your hands on some of our new designs for Father's Day, whether it be the enigmatic Owl Ring or the tactile Snake Belly Cuff. I'm a big fan of the Steering Wheel Pendant myself. Whatever your taste, you're sure to find something of lasting value that will also make an impression: Calculated as the total metal weight sold, multiplied by the respective gold and platinum spot prices at time of publishing. Non-IFRS Measures This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company's performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company's operating results. Non-IFRS Adjusted Revenue is a non-IFRS measure. The Company adjusts its revenue by adding back the value of jewelry that was returned by customers, revenue from orders not yet delivered, and discounts given to customers. These adjustments are made to assess the gross revenue before deducting these items per IFRS revenue. The closest comparable IFRS measure is revenue. Non-IFRS Adjusted Income (loss) is a non-IFRS measure. Non-IFRS Adjusted Income (Loss) is a non-IFRS measure, calculated as total comprehensive income (loss), excluding depreciation and amortization, stock-based compensation, accretion, loss on debt retirement, revaluation of metal loan, translation gain or loss, unrealized foreign exchange gains or losses and other non-recurring expenses. The closest comparable IFRS measure is total comprehensive income (loss). Adjusted EBITDA, calculated as total operating income (loss), excluding depreciation and amortization, stock-based compensation, other non-recurring expenses. The closest comparable IFRS measure is total operating income (loss). Tangible Common Equity is a non-IFRS measure. It is calculated as total shareholder's equity excluding intangible assets. For a full definition of non-IFRS financial measures used herein to their nearest IFRS equivalents, please see the section entitled "Non-IFRS Financial Measures" in the Company's MD&A for the quarter ended March 31, 2025. About Menē Inc. Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value. For more information about Menē, visit Forward-Looking Statements This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to its business plans and goals of the Company for the current financial year, the hiring of new management, estimated potential year over year growth, marketing plans and the announcement of future plans and milestones. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability to successfully acquire and/or develop jewelry manufacturing facilities; an inability to predict or control the negative effects of tariffs and global trading patterns; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics and other infectious diseases presenting as major health issues and impacting the price of precious metals, capital market conditions, restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company's shares; the Company's limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; inflation risks; risks related to changing consumer preferences; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance and availability of key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Zawya
13 hours ago
- Business
- Zawya
Exclusive partnership between dubizzle and Paymob to enhance user experience and advance digital payment services
Cairo – dubizzle (formerly OLX), Egypt's top online classifieds platform in Egypt and the MENA region, has announced a strategic partnership with Paymob, the leading financial services enabler in the MENA. By leveraging Paymob's advanced infrastructure and secure technology, this exclusive collaboration aims to streamline and empower digital payment capabilities across dubizzle's platform. This comes as part of dubizzle's ambitious vision to enhance its digital services and continuously elevate the user experience by offering flexible and secure payment solutions. These solutions aim to improve the platform's efficiency and keep pace with the rapid advancements in financial technology, aligning with the evolving needs of both the Egyptian and regional markets. dubizzle users will also be able to access instant digital payment options when purchasing featured ads, accelerating processes, and increasing efficiency for individuals, business owners, and commercial partners alike. The partnership was signed by Rayane Imad, Head of Advertising & Strategic Partnerships at dubizzle Egypt, and Gillan Shaaban, CCO at Paymob. The newly integrated e-payment service will also offer exclusive benefits tailored to merchants and small to medium-sized enterprises (SMEs), including customized financial solutions and promotions such as; card payments, Buy Now Pay Later plans and payment links, that enhances their digital presence. These tools are designed to streamline operations and provide advanced payment technologies that enable effective promotion of their products and services on dubizzle, ultimately boosting their market competitiveness. This partnership reflects dubizzle's vision as a customer centric platform, creating convenience and value for its users which positions dubizzle as a leading digital classifieds platform by offering forward-looking, world-class services. It reflects the company's support to Egypt and the region's shift towards a fully digital economy. This collaboration aligns with Dubizzle's approach of partnering with technology-driven players, in line with its vision to deliver innovative and efficient solutions that address local market needs and meet user expectations. About dubizzle Egypt (formerly OLX): dubizzle Egypt is the country's top online classifieds platform, offering innovative solutions for buying and selling across various sectors, including properties, automotives, jobs, electronics, furniture, and services. Available via mobile app and web, the platform delivers an integrated, user-friendly experience powered by advanced tools. Trusted by leading companies in Egypt, dubizzle provides detailed performance analytics and premium customer support. The platform attracts over 17 million visits per month.
Associated Press
13 hours ago
- Business
- Associated Press
Jeffs' Brands Announces Pricing of approx. $581 Thousand Registered Direct Offering
Tel Aviv, Israel, May 28, 2025 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd ('Jeffs' Brands' or the 'Company') (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, today announced that it has entered into a securities purchase agreement with an institutional investor or the Investor, for aggregate gross cash proceeds of approximately $581 thousand, before deducting offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, as well as for potential acquisitions. In connection with the offering, the Company will issue an aggregate of 662,500 ordinary shares and pre-funded warrants to purchase up to 1,276,007 ordinary shares at an exercise price of $0.0001. The pre-funded warrants will be sold at the same purchase price as the ordinary shares, less the pre-funded warrant exercise price of $0.0001. The pre-funded warrants will be exercisable upon issuance and will expire when exercised in full. The closing of the offering is expected to occur on or about May 28, 2025, subject to the satisfaction of certain customary closing conditions. The securities to be issued to the Investor described above will be issued pursuant to a registration statement on Form F-3 (File No. 333-283904) which was declared effective by the U.S. Securities and Exchange Commission (the 'SEC') on January 3, 2025. This offering will be made only by means of a prospectus. A copy of the prospectus supplement and the accompanying prospectus relating to this offering will be filed with the SEC and may be obtained for free by visiting EDGAR on the SEC's website at This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Vik Hakmon, the Company's chief executive officer and a director, may be deemed to have a personal interest in the offering by virtue of being a family member of the controlling shareholder of L.I.A. Pure Capital Ltd., the Investor, and as such the Offering was approved by the Company's audit committee and board of directors in accordance with the Israeli Companies Law-1999. About Jeffs' Brands Ltd Jeffs' Brands is transforming the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential. Through our stellar team's insight into the FBA Amazon business model, we're using both human capability and advanced technology to take products to the next level. For more information on Jeffs' Brands Ltd visit Cautionary Note Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the 'safe harbor' created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 'believe,' 'expect,' 'may,' 'should,' 'could,' 'seek,' 'intend,' 'plan,' 'goal,' 'estimate,' 'anticipate' or other comparable terms. For example, we are using forward-looking statements when discussing the closing of the offering and the anticipated use of proceeds from the offering. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to adapt to significant future alterations in Amazon's policies; our ability to sell our existing products and grow our brands and product offerings, including by acquiring new brands; our ability to meet our expectations regarding the revenue growth and the demand for e-commerce; the overall global economic environment; the impact of competition and new e-commerce technologies; general market, political and economic conditions in the countries in which we operate; projected capital expenditures and liquidity; the impact of possible changes in Amazon's policies and terms of use; and the other risks and uncertainties described in the Company's Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 31, 2025 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Jeffs' Brands is not responsible for the contents of third-party websites. Investor Relations Contact: Michal Efraty Adi and Michal PR- IR Investor Relations, Israel +972-(0)52-3044404 [email protected]
