Swiss watchmaker Compagnie Financière Richemont, owner of Cartier, eliminated its CEO role two years ago when its CEO Richard Lepeu retired in November 2016. But the company today announced that its chief operating officer, Jerome Lambert, will take over as CEO.
Lambert, “will lead the development of strategic plans reflecting the long-term objectives and priorities established by the board,” said company founder and former CEO Johann Rupert. He also added that the new CEO takes over the role, “at a time when consumer habits are changing significantly.”
Richemont’s sales were up 22% in 2017, compared with a year earlier, according to the retailer. The company said part of the growth was driven by its jewelry division, where sales grew 11%. Richemont also credits part of this uptick in overall sales to sales from its newer acquisitions including luxury retailer Yoox Net-a-Porter (No. 78 in the Internet Retailer 2018 Top 1000) and secondhand online watch retailer Watchfinder and Co.
In other e-commerce news:
Subscription box retailer Loot Crate, No. 200 in the Top 1000, has secured $23 million in new financing, led by Atalaya Capital Management LP and supported by several new investors. The funds will allow Loot Crate to bolster its existing subscription lines, improve the overall customer experience, launch new products, grow product lines and establish new distribution channels, according to Loot Crate. “Over the past six years, Loot Crate has grown and evolved from a single subscription to offering multiple subscriptions spanning the best of pop culture, sports and gaming, thanks to the continued support of our loyal Looter community, investors and partners,” says co-founder and CEO Chris Davis. “With this new investment, and these new partnerships, we can focus on what made Loot Crate great and deliver on our vision.”
- Sarah Butterfass has joined Groupon Inc. (No. 41) as its chief product officer. She will be in charge of product development and customer experiences, Groupon says. Prior to Groupon, Butterfass was senior vice president and head of customer experience at financial services company E-Trade. She also served as the E-Trade’s senior vice president of Trader Group and chief marketing officer of OptionsHouse. “Sarah’s nearly two decades of experience in developing engaging products, designing great experiences for customers and creating compelling loyalty programs will be invaluable,” says Groupon CEO Rich Williams.
- E-commerce fulfillment company ShipBob has received $40 million in new funding. The Series C financing was led by Menlo Ventures, with additional participation from existing investors Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator. ShipBob has shipped more than 4 million packages, the company says. This new funding will expand its software platform, which powers multiple fulfillment centers across the U.S.
Robotics automation systems company GreyOrange has raised $140 million in Series C funding. Mithril Capital led the read, joining Mitsubishi, Flipkart and the Project Verte as investors. GreyOrange raised $30 million in its Series B financing in 2015. The new financing will help propel GreyOrange’s U.S. expansion, which it said includes deploying 20,000 robots across the country in the next three years to help streamline supply chains, integrate robots and workers, and enable companies to compete with the delivery speed of e-commerce giants.
- Customer analytics platform company Custora has raised $13.8 million in Series B financing, led by General Catalyst with participation from existing investors Foundation Capital and Greycroft. Custora works with both small and large retail brands, including J. Crew Group Inc. (No. 53), Tiffany & Co. (No. 150), Uniqlo (No. 365) and Kenneth Cole (No. 590). “The leading retail brands are building the capabilities to better understand their customers and use those insights in new and exciting ways,” says Corey Pierson, co-founder and CEO of Custora. “We call this ‘customer-obsessed commerce,’ and Custora was built to help companies make this transformation. We’re excited to partner with General Catalyst in this new era of retail.”