Within fashion, pure-play sites had 57.2 per cent of the Australian market in the last financial year. The highest profile of these is of course The Iconic. However, while their efforts were being lauded by the mainstream media as the great success story of Australian e-commerce, the company has reportedly lost $45 million in around 17 months of operation. On top of this the entire business only generated $31 million in top-line sales in that same period. The company has only stayed afloat after raising tens of millions from its parent companies. Their positive bleatings in the press Read more…
