📰 In the news | 25 August 2023

Superbalist cuts staff, fashion explores growth opportunities in Nigeria & Egypt, and a growing startup targets fashion's surplus stock problem.

Hi Reader,

Across Africa,

Nigeria & Egypt make plans to dominate African fashion market share, Superbalist cuts staff following stagnated growth and Takealot Group losses, South African clothing retail proves to be a challenging investment for JSE stakeholders and Jumia prepares to launch buy-now-pay-later solutions in Egypt while battling growth losses from Nigerian inflation.

Elsewhere,

A growing startup has raised a $30M Series B round to solve fashion’s surplus stock problem, suppliers in the global south struggle to keep up with multiple sets of sustainability legislation, Peter Do collaborates with Banana Republic and Stella McCartney makes a quick pivot from mushroom leather to plant & mineral based MIRUM.

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