Connect with us

Fashion

Klarna raises $1.37 billion in US IPO, boosting fintech hopefuls

Published

on

Klarna raises .37 billion in US IPO, boosting fintech hopefuls


By

Reuters

Published



September 10, 2025

Buy-now, pay-later lender Klarna raised $1.37 billion in its U.S. initial public offering, two sources familiar with the matter told Reuters on Tuesday, setting the stage for a market debut that could set the trend for high-growth fintech listings.

Reuters

The Sequoia Capital-backed Swedish company and some of its existing investors sold 34.3 million shares at $40 each above the targeted range of $35 to $37.

The IPO values Klarna at $15.11 billion, a significant step down from the more than $45 billion valuation it notched in 2021 after a rapid ascent as a BNPL leader.

Its valuation dropped to $6.7 billion in 2022 amid rising interest rates and inflation.

Klarna is headlining companies ranging from crypto to consumer that are aiming to go public in New York this week, as a rallying stock market and blockbuster debuts ease tariff worries and rekindle investor interest in IPOs.

The company, which has been planning a New York listing for years, paused its efforts in April as sweeping U.S. tariffs on its trading partners resulted in choppy global markets.

Founded in 2005, Klarna was profitable until its U.S. expansion in 2019, just ahead of the online shopping boom sparked by the COVID-19 pandemic.

While its user count and gross merchandise value continue to expand in double digits, profitability remains a challenge.

Losses widened to $52 million in the quarter ended June 30 from $7 million a year ago, while revenue rose to $823 million from $682 million.

“While the market is open again to fintech listings, companies will be judged quickly on their ability to balance growth with profitability in a tougher macro backdrop,” said Rudy Yang, senior analyst at PitchBook.

The company also operates as a digital-first neobank. Peer Chime’s shares popped 59% in its Nasdaq debut in June, although they trade below the issue price, as of last close.

However, analysts said Klarna’s brand power might help secure its footing among fintechs.

“The sector is highly competitive and rapidly evolving, and brand recognition, where Klarna remains strong, is often as critical as (the) business model,” said Kat Liu, vice president at IPO research firm IPOX.

U.S. consumer spending has held up despite sticky inflation, labor market cracks, and slowing income growth.

Alternative payments services such as Klarna, which ease the immediate financial burden by allowing shoppers to split purchases into smaller, interest-free installments over weeks or months, have witnessed stable demand.

For the 12 months ended June 30, Klarna earned 75% of its revenue from transaction and service-based fees – the majority of which came from merchants on its network – the lowest as a share of total revenue for the same period since 2022.

The share of interest income in this period rose to 25%.
“Since Klarna’s BNPL model depends on both transaction volume and repayment rates, lower spending reduces merchant fee capture while also raising the risk of credit losses,” Liu said.

Goldman Sachs, J.P.Morgan, and Morgan Stanley are the joint book-running managers. Klarna will start trading on the New York Stock Exchange under the symbol “KLAR” on Wednesday.

© Thomson Reuters 2025 All rights reserved.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fashion

Calvin Klein launches Re-Calvin take-back programme across the US

Published

on

Calvin Klein launches Re-Calvin take-back programme across the US



Calvin Klein Inc. announces the U.S. launch of Re-Calvin, a new take-back program designed to make it easy for customers to responsibly part with their pre-loved items.

Developed in partnership with Trove, the leader in branded resale and customer trade-in, and Debrand, a comprehensive sortation and circular logistics partner, Re-Calvin is a free service from Calvin Klein that gives U.S. customers a simple, accessible way to extend the useful life of clothing, shoes and accessories from any brand through donation, recycling, downcycling or, when necessary, responsible disposal that is converted from waste to energy. Re-Calvin also accepts intimates such as bras, swimwear and underwear – a category often excluded from circularity programs.

Calvin Klein has launched Re-Calvin, a free US take-back programme with Trove and Debrand to promote circularity.
Customers can send clothing, shoes, and accessories from any brand for reuse, recycling, downcycling, or responsible disposal.
Notably, it accepts intimates, often excluded from such schemes, and provides full transparency through post-processing email updates.

“As Calvin Klein continues its sustainability journey, we are proud to introduce a program that makes circularity more accessible for our customers and delivers alternative uses for pre-loved items,” said David Savman, Global Brand President, Calvin Klein. “It was important that we partner with experts with a proven ability to build and scale programs that handle a wide range of products andcategories, making it easier than ever for customers to responsibly extend the life of their items.”

How It Works

Customers in the United States can visit calvinklein.us/re-calvin to print a free shipping label and send in items from any brand. Once received, each package is processed and routed according to Calvin Klein’s diligent, established standards:

  • Reuse: Items in good condition are donated or sent to secondhand distribution partners.
  • Recycle / Downcycle: Items that cannot be reused, including intimates, are recycled into new fibers whenever possible, or downcycled into materials such as insulation or padding.
  • Responsible Disposal: As a final step, if no reuse, recycling or downcycling option is available, items are to be converted from waste to energy or alternative fuel conversion.

Only items suitable for a new owner are directed to reuse. Garments with significant wear, damage, heavy stains and all intimates are directed to end-of-use streams, including recycling, downcycling and responsible disposal. Customers receive an email update after their parcel is processed, detailing how their items were routed, ensuring transparency throughout the process.

Powered by Trove’s Takeback Plug-In

Re-Calvin is powered by Trove’s new Takeback Plug-In, which enables Calvin Klein to seamlessly manage item intake, routing and transparency at scale. The plug-in integrates directly into Calvin Klein’s existing U.S. website, enabling the brand to operate a multi-brand takeback program that includes complex categories such as intimates.

The Takeback Plug-in expands Trove’s suite of circular solutions, which also includes the Resale Plug-in, Trade-in Plug-in and a range of API integration options. Together, these tools give brands the flexibility to build customized circular programs that meet their unique needs.

“Re-Calvin marks the first implementation of Trove’s new Takeback Plug-In,” said Terry Boyle, CEO of Trove. “With this launch, Calvin Klein is showing how technology can make responsible choices simple for every customer, accepting items from any brand and across all categories, including intimates, to help keep more textiles in circulation.”

By accepting items from any brand and across all categories, Re-Calvin reflects Calvin Klein, Trove and Debrand’s shared belief that every item should have as many chances as possible to find a second life.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



Source link

Continue Reading

Fashion

ICE cotton futures rise on weaker US dollar, trade deal hopes

Published

on

ICE cotton futures rise on weaker US dollar, trade deal hopes



ICE cotton futures continued to rise yesterday amid a weaker US dollar and optimism over a possible trade deal. However, trade tensions persisted, and with the US government shutdown entering its fourth consecutive week, the release of key reports, including the USDA’s World Agricultural Supply and Demand Estimates (WASDE), has been delayed, slowing information flow.

ICE December cotton futures settled at 64.56 cents per pound, up 0.36 cent. The contract has recorded a cumulative gain of 82 points over the last three trading sessions. Other contracts also settled higher, ranging between 5 and 36 points in the previous session.

ICE cotton futures extended gains on October 27, 2025, supported by a weaker US dollar and renewed optimism over a potential US–China trade deal that could boost agricultural demand.
The December contract settled at 64.56 cents per pound, up 0.36 cent.
However, the prolonged US government shutdown has delayed key USDA reports, slowing market information flow and tempering sentiment.

Total trading volume on ICE was reported at 52,963 contracts, indicating active market participation. Cleared contracts on the previous Friday stood at 31,106, reflecting moderate settlement activity before the weekend. The average daily volume for the previous week was 34,799 contracts, showing an increase in the current week’s trading levels.

ICE data showed that, as of October 24, 2025, the deliverable No. 2 cotton contract inventory stood at 17,552 bales, unchanged from the previous day’s level.

The US dollar weakened against both the euro and the Australian dollar on Monday, as optimism over a potential trade deal boosted risk appetite and reduced demand for the greenback. A weaker dollar makes dollar-denominated cotton cheaper for holders of other currencies, providing additional export competitiveness for US cotton.

Market participants noted that optimism over a potential trade deal involving agricultural commodities is lending renewed support to cotton futures. Analysts said that all indicators point to a trade deal that includes agriculture, which would be a major positive for cotton demand.

However, ongoing trade tensions between major economies continue to weigh on the broader demand outlook for cotton despite the improving sentiment.

On the Chicago Board of Trade (CBOT), soybean futures rose to a four-month high on Monday, as traders anticipated that China might soon resume purchasing US farm products.

Meanwhile, the ongoing US government shutdown, now in its fourth week, has delayed the release of several key economic and agricultural reports, including the USDA’s WASDE, further slowing cotton market information flow.

As of this morning (Indian Standard Time – IST), ICE December 2025 cotton was trading at 64.73 cents per pound (up 0.17 cent), cash cotton at 62.06 cents (up 0.36 cent), the March 2026 contract at 66.18 cents (up 0.11 cent), the May 2026 contract at 67.43 cents (up 0.13 cent), the July 2026 contract at 68.55 cents (up 0.10 cent), and the October 2026 contract at 68.31 cents (up 0.21 cent). A few contracts remained unchanged from their previous closing levels, with no trades recorded so far today.

Fibre2Fashion News Desk (KUL)



Source link

Continue Reading

Fashion

US’ Nike unveils Aero-FIT cooling tech for hotter, wetter play

Published

on

US’ Nike unveils Aero-FIT cooling tech for hotter, wetter play



Today’s athletes are competing in a hotter, wetter world — and Nike is helping them set the pace, no matter the conditions, with the introduction of Aero-FIT performance cooling technology.

More than performance apparel, Aero-FIT is Nike’s pinnacle expression of cooling innovation, capable of channeling more than double the airflow of legacy Nike materials to peak performance in extreme conditions, helping athletes thrive in their new reality of rising heat and humidity.

Nike has launched Aero-FIT, a breakthrough cooling technology that channels over twice the airflow of previous materials, helping athletes perform in rising heat and humidity.
Debuting in 2026 football kits, Aero-FIT enhances sweating efficiency and comfort while reflecting Nike’s broader commitment to athlete-led, sustainable, and climate-conscious innovation.

This pioneering technology will make its global debut in the football kits Nike federations will wear during the biggest sport moment of 2026 before extending across Nike’s sport-led product strategy, bringing airflow-first innovation to more athletes and disciplines around the world.

What’s more, Aero-FIT is one of four major technological advances Nike is unveiling this month, joining innovations across Therma-FIT apparel, mind science and powered footwear in demonstrating the depth, breadth and impact of the brand’s commitment to athlete-centered innovation.

“Nike exists to make athletes better, and our breakthrough Aero-FIT technology delivers the future of our industry-defining apparel innovation in both elite performance and sustainability at scale,” says Janett Nichol, VP, Apparel & Advanced Digital Creation Studio Innovation.

Designed to move more air between skin and fabric, Aero-FIT supports sweating efficiency while helping athletes stay dry when the game heats up.

Elliptical mesh zones offer a unique visual signature, with lighter mesh providing even greater airflow in high-heat areas. Beyond aesthetics, these zones are functional airflow channels tuned for performance on the pitch and other fields of play — built from the ground up to help manage heat.

Hundreds of athletes wear-tested Aero-FIT across a wide range of conditions. Their feedback and perception helped validate the innovation’s cooling performance, comfort and freedom of movement in real-world scenarios.

“We obsessed the data, unpacking how air moves around the body, and mapped that airflow with sport-specific designs,” says Nichol.

Aero-FIT is born from Nike’s decades-long commitment to intentional climate-conscious design and contemporary breakthroughs in thermoregulation and circularity — proving that athlete-led, science-backed and sustainability-driven innovation is a movement, not a moment.

To that end, Aero-FIT is Nike’s first elite performance apparel made from 100 percent textile waste: a feat made possible through advanced chemical recycling, a circular process that results in recycled polyester yarn that’s as good as virgin material.

In addition to this sustainability breakthrough, Aero-FIT is a product of Nike’s integrated innovation system, where sport science, computational design and advanced manufacturing converge. Nike designers also used heat mapping and motion data to inform every aspect of Aero-FIT’s development, from yarn tuning to mesh placement.

Further, they leveraged digital blueprints to translate athlete physiology and biomechanics into the airflow-first garments — all created with stitch-level precision and validated in motion against the brand’s highest technical standards.

“We’re incredibly proud that our jerseys worn next summer will feel light, unrestrictive and comfortable for an entire match,” says Nichol. “That’s the kind of comfort that helps an athlete stay completely focused on the competition for 90-plus minutes.”

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



Source link

Continue Reading

Trending