Glovo and Mars expand their partnership focusing on retail media strategies in Europe and more. The goal is a significant growth in their business by 2030 after achieving over 50% growth in Mars products on Glovo in just one year.

El Corte Inglés posted $220M profit in H1 FY2024, up 11%. Revenues hit $8.7B, rising 2.3%. EBITDA grew 12.3% to $566M, while net debt fell $205M. Retail sales rose 3.2%, and travel revenues surged 10.3%. All divisions saw gains.

Glovo introduces social features in its app, enabling users to share restaurant picks, follow friends for food recommendations, and interact with restaurateurs. CEO Oscar Pierre says 35% of users struggle to decide what to order.

Mango expands its online business to 12 new countries, including Angola, Belize, and Laos, bringing its presence to over 120 markets. The company reported over $1B in online revenue in 2023, making up 33% of total sales.

Ikea is piloting a secondhand marketplace called Ikea Preowned in Madrid and Oslo. Users can sell their old Ikea furniture and choose to be paid via bank transfer or an Ikea gift card with a 15% bonus. The trial ends in December 2024.

Spain’s CNMC fined Booking.com $447M for unfair terms and restricting competition. The company imposed unfair price clauses on hotels and only offered legal terms in English. Booking.com plans to appeal the decision, stating the EU’s Digital Market Act should address these issues. The company must comply with new regulations by November or face further penalties.

Uber Eats launches beach delivery service on ten Spanish beaches. Last summer, over 1,000 orders were placed at Playa de las Canteras. Now, with pick-up points along the coast, deliveries are more efficient. Enjoy a wide range of products without leaving your towel!

TikTok is launching in-app shopping in Spain and Ireland by October 2024. This move follows hiring 40 workers in Spain, showing the company’s focus on European eCommerce. Expansion to more countries in 2025 is planned.

Mango, celebrating its 40th anniversary, will open 500 new stores by 2026 in markets like the U.S., Spain, and India. Mango Home will launch standalone stores. The board expands to nine members, and CEO Toni Ruiz becomes a shareholder.

Shalion, a Madrid-based eCommerce intelligence firm, raised $5.5M from Seaya Ventures. The funding will enhance its big data platform's reach across Europe, the UK, and the US. CEO Germán Loewe aims to help brands and CPGs excel in digital retail.

Mango's new campaign for its limited-edition teen line is AI-generated. The initiative is part of its 2026 strategic plan, focusing on technological development. Mango's CTO, Jordi Alex, highlights the innovation and creative amplification through AI.

Zara has 61.8M items on Vinted, highlighting consumer trends and fast fashion’s dominance. Vinted also lists 59.7M H&M, 21.8M Shein, 21M Primark, and 10.2M Mango items. Circular fashion’s impact is debated as overproduction and short desirability cycles persist.

Zara, owned by Inditex, is expanding its live shopping broadcasts to the US, UK, and Europe between August and October. This follows successful trials in China on Douyin, boosting sales through weekly shows since last November.

Barcelona-based Puig, with a portfolio including Paco Rabanne, aims to raise over $2.7B in an upcoming IPO. Marc Puig believes this move will enhance competitiveness in the global beauty market. IPO momentum grows as market conditions improve.

With a strategic pivot to AI since 2018, Mango (fashion retailer) has set the pace in the industry. In 2023, it recorded a massive $3.39B in sales, thanks to AI platforms like Midas for pricing, Gaudí for product recommendations, and Inspire for design creativity.

Zara's parent, Inditex, adopts a counterintuitive strategy against online competitors like Shein, by expanding its flagship stores, resulting in increased sales per square meter and efficiency gains. Inditex’s embrace of physical retail space demonstrates the ongoing relevance of in-store experiences.

Webel, a Spanish sensation, has bagged €2.1M to enlarge its service emporium, witnessing a 10x growth spurt annually, courtesy of top investors like Trind Ventures & Zaka Ventures.

Wallapop, with a fresh €81M in its pockets from a Series G round led by Naver, is now valued at €771M. With €72M in 2022 revenues, it's gunning for unicorn status, eyeing further expansion in Southern Europe.

Glovo, Spain's startup darling, is wrestling with €205M in fines over rider employment status. As legal battles mount, the company's financials wobble, with losses hitting €420M in 2022 and €209M in 2023.

In the fast-fashion arena, Zara's owner Inditex unleashes Lefties, targeting Gen Z with low prices to tackle Shein's dominance. With 17.99-euro jeans and 5.99-euro handbags, Lefties expands globally, aiming to reclaim the budget-conscious consumer. Amidst this, Shein's growth prompts a strategic shift for traditional retailers.

🇪🇸 Glovo and Uber Eats under Scrutiny for allegedly employing undocumented foreigners as delivery drivers. The Spanish Labor Inspection is cracking down on these gig economy giants, suspecting misuse of subcontracting to employ unauthorized workers. Potential fines could reach €372M.