Amazon to sublease warehouses as online shopping slows

Amazon is planning to sublease some of its warehouse space now that the pandemic-fueled surge in online shopping, which helped the e-commerce giant rake in soaring profits in the past two years, has eased.

Subleasing allows the company to “relieve the financial obligations associated with an existing building that no longer meets” its needs, Amazon spokesperson Alisa Carroll said.

Carroll didn’t disclose how much space the company plans to sublet. But citing anonymous sources, Bloomberg News and The Wall Street Journal reported earlier that the retailer would sublease at least 10 million square feet of space and could end more of its leases in states including New York, New Jersey and California.

Seattle-based Amazon doubled the size of its operations during the pandemic, adding more warehouses and workers to keep up with demand from homebound consumers who felt more comfortable buying things online. But as the worst of the pandemic

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Burberry, Harrods And Other Luxury Players Call For Return Of Tax-Free Shopping As U.K. Loses Out To Europe

Luxury trade association Walpole is calling for the reinstatement of tax-free shopping for tourists which it claims could result in direct retail sales of at least $1.5 billion (£1.2 billion) annually and attract an additional 600,000 visitors to Britain.

The group—which has around 250 members including famous brands, retailers and hotels like Burberry, Claridge’s, Harrods, The Macallan, and Wedgwood—has commissioned a report which indicates that the U.K, has lost vital revenue since tax-free shopping was abandoned on December 31, 2020.

The government decision to withdraw the VAT Retail Export Scheme has made Britain the only European country not to offer tax-free shopping to non-EU tourists, which, at the time, was argued by several parties to be a counter-productive move.

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Flip Social Beauty App Raises $28 Million Series A

Flip is taking a TikTok approach to selling beauty products. The social media ecommerce platform lets users buy and post reviews of lipstick, hair gel and other beauty products.

Its secret weapon — like all social media — are the influencers that make the 60-second videos populating the app. The users get paid by Flip based on engagement, so they don’t have to rely on the brands to hawk their goods.


Flip CEO Nooruldeen “Noor” Agha said his goal is to be the first “honest” ecommerce platform, where reviews are controlled by consumers rather than brands.

Flip just raised $28 million in Series A funding, which will go toward expanding its user base and making more brand deals, the company announced Monday. The round was led by Streamlined Ventures and included Mubadala Capital Ventures and BDMI.

Launched in 2019, the platform combines aspects of typical social media platforms — like

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Aspiration Acquires Carbon Insights to Track Carbon Use

L.A. fintech firm Aspiration, which offers an eco-friendly digital spin on consumer banking, has purchased Carbon Insights, a Denver-based startup that uses APIs to help financial institutions track carbon footprints.


The acquisition is Marina del Rey-based Aspiration’s first-ever since it launched in 2015. Financial terms of the deal were not disclosed. As part of the acquisition, Carbon Insights co-founders Chad Hunter and Ally Kadel have joined Aspiration.

Aspiration will deploy Carbon Insights’ technology to enhance its scoring system for tracking the sustainability impact of its customers’ spending habits, Aspiration co-founder and CEO Andrei Cherny told dot.LA. Carbon Insights relies on a combination of business attributes and operational data—like energy consumption and corporate expenditures—to estimate a company’s carbon footprint, Cherny explained.


Aspiration co-founder and CEO Andrei Cherny

The technology will allow Aspiration to better provide “a sustainability score for our customers based on where they are shopping and spending,” Cherny explained.

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