Freshly Squeezed: 01.10.19

Ally Feiam By Ally Feiam | 01 Oct 2019

Catch partners with LatitudePay and Kathmandu is planning to acquire Rip Curl. Get a healthy dose of news as we uncover the day’s top stories in e-commerce and retail.

Kathmandu is Hoping to Acquire Rip Curl

Kathmandu has the plan to acquire Rip Curl for $350 million. Last year, Kathmandu boasted sales of $545 million and had suggested intends to diversify its brands to a broader market. “The combination of Kathmandu, Oboz and Rip Curl achieves diversification in product, channel, geography and seasonality, and creates a platform for the acceleration of our brands, global expansion into new channels and markets,” explained Xavier Simonet, the Chief Executive at Kathmandu.

Realme Launches in Australia

The ‘fastest-growing smartphone in the world’, realme, has launched in Australia. The phones will be sold on marketplaces such as Kogan, Catch, Amazon and eBay among others. “realme is a young and fearless brand, and our aim is to enable our fans to experience premium functionality, technology and style at a reasonable price,” explained realme’s Australia Managing Director, Andy Yang. “Young people don’t need to spend a fortune to access high-quality phones with larger battery life and storage, rapid charging and superior camera technology. Our customers are young and brave, and we’re excited to share our innovations with Australian consumers. As a disruptive smartphone brand, realme has won more than ten million fans in just 15 months, a record in the smartphone industry. Our Dare to Leap spirit drives us to innovate and challenge the status quo, which is what we are doing globally and aim to continue in Australia.”

Catch Group Partners with LatitudePay

Another BNPL partnership is in the works, this time with Catch Group and LatitudePay. The online marketplace will introduce the payment platform to its 1.5 million shoppers, with the option to pay for goods over a ten-week plan. LatitudePay launched only a month ago and has already signed up many other retailers to its belt, who will go live within the next few weeks. “Catch Group is an incredibly successful and entrepreneurial online retailer. It has been about 1.5 million active customers, and at any time almost 1.9 million different products for sale on its site at great prices,” explained Ahmed Fahour, the Managing Director and CEO of LatitudePay.

With aims to get a head start of the holiday period, LatitudePay will go live on the Catch site in October. The BNPL platform has an ‘instant’ approval for spending amounts between $150 and $1,000. The partnership with LatitudePay and Catch allows customers to schedule payments at their preferred time. “We’re excited to be partnering with LatitudePay to provide our customers with more choice and value when it comes to choosing how they pay. LatitudePay allows our savvy Catch.com.au shoppers to spread payments over ten weeks and responds to the growing demand we’ve seen for buy now pay later services. LatitudePay is a great partner for Catch.com.au as we are both aligned to help make online shopping easier and more convenient for shoppers,” said Nati Harpaz, the CEO of Catch Group.

Catch up on yesterday’s Freshly Squeezed news here.

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