The V Spot Retail and eCommerce Weekly News Friday Week 16

And welcome to your Amateur News. Just like that, it's Retail Week 18. In a week where we learned that AI is everywhere, Amazon's AI is anywhere. First up this week, we have the much-maligned brand Peloton. Not content with killing Big from Sex and the City, they've gone and shot themselves in the foot. Peloton have had to recall 2.1 million units of their famed exercise bike due to a seat post that kept breaking. This is just the latest chapter in a sequence of demise that is pretty difficult to watch. Let's just hope it doesn't lead to Chapter 11. This week in Dublin, it was controversy. Wednesday afternoon, Irish Enterprise Minister Simon Coveney has accused retailers retailers all around the country of price gouging. He said he's going to create a list and name and shame those who are responsible for this heinous act. On Thursday morning, he was happy to welcome the Shine Group into Dublin where they opened their new headquarters. This week in Dublin, it was controversy. Wednesday afternoon, Irish Enterprise Minister Simon Coveney has accused retailers all around the country of price gouging. He said he's going to create a list and name and shame those who are responsible for this heinous act. On Thursday, next up, we got ASOS. This week they posted their 6-month results, posting an £87 million loss from a £14 million profit for the same period last year. They have blamed this unusual event on 6% of their customers who they say have bought too frequently too much and used the free shipping too often despite getting numerous emails from the overly aggressive marketing of the company. They have got a turnaround strategy in place and apparently they are going to discount the shit out of it. Investment news this week. Trylup Fashion App has listed on the Long Term Securities Exchange. What is the LTSE, I hear you ask? Well, it is a stock exchange with a difference. It promotes long-term thinking. Who are ThredUp, I hear you ask, is your second question. Well, ThredUp are, well, if you could imagine if eBay and Poshmark had a baby that was B Corp certified and had all the millennial values you could imagine. That is the ThredUp Group. They have cited one of their major investors is the environment. We contacted the environment for a comment and they declined to Answer. Okay, done. Every week, as promised, we're going to bring you some good news. This week is no different. London reveled last week as the celebrations crowning the new King of England took over the entire country. The guy from The Crown was made the new King of England and everyone seemed quite happy. Not many more so than Ben Francis of Gymshark. Ben Francis may be known to some of you as the guru behind the global brand Gymshark. Started out famously as a Pizza Hut delivery driver, and just last week made an MBE. Huge congrats to Ben and all the team that made something like this possible. No puns in here, no jokes, just a really big congratulations to Ben and all of the team at Gymshark. A hat tip to you, sir. And final story this week, I have been selected as a judge on the Ecom Awards in September in Dublin. This has not been announced publicly yet, but we're confident that no one is going to be watching this far to see and take notice. Therefore, we feel it's a scoop for us and we're not discrediting any of our preferred partners. Hope you enjoyed the news this week. If you've got any stories that you want to send to us, please do send them to vinny@vinnyandco.com. Www.shine-sheen.com. Not often you get to do that. Apologies as well for people who pronounce Shine Sheen and also for people who pronounce Belencarguir correctly. We have to go and get our researcher to give us the correct pronunciation for that in the future. Also, just wanted to point out we didn't use the word Beemoth for THG even though we had lots of asks to do so. Tune in next week, same time for your Week 19 news. Who knows what's going to happen, where we're going to be. Probably just here. Enjoy your weekend.