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ESTO Holdings Reaches Full-Year 2023 Profit Level in First Half of 2024, Marking a Record-Breaking Performance

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TALLINN, Estonia, July 30, 2024 /PRNewswire/ — ESTO Holdings OU, a leading Baltic shopping network and consumer credit provider, today announced exceptional financial results for the first six months of 2024. The company reported unprecedented growth in net profit, revenue, and user base, alongside significant advancements in its merchant partnerships.

Key highlights

Net Profit doubled to a record-high EUR 2.9 million, increasing by 101% year-over-year.Revenue surged to EUR 14.8 million in the first half of 2024, reflecting a 33% improvement compared to the same period last year.Loan Portfolio grew to a new high of EUR 67 million, supported by robust group equity of EUR 17.2 million.Financial strength enhanced with an equity ratio improving to 23.42% and over EUR 41 million in new capital attracted in the six months of 2024.During the first six months, the consumer base increased by ca. 60,000 and reached a record number of users within the ecosystem, totaling 580,200 customers across the Baltics.

Link to the full report: https://lnkd.in/dgFSZw4J

Mikk Metsa, Founder and CEO of ESTO, commented: 

“We are thrilled to announce that the first half of 2024 has been a period of remarkable growth and achievement for ESTO. Our highest-ever revenue of EUR 14.8 million and net profit of EUR 2.9 million highlight our strong financial health and execution. Every month, we continue to set new monthly net profit records, with the latest reaching EUR 0.6 million in June alone.

In parallel with this significant increase in profitability, we are pleased to see rapid growth across all Baltic states. The notable user growth, particularly with 49% of our quarter-to-quarter consumer base growth coming from Lithuania and 41% from Latvia, along with the expansion of our merchant network, underscores our successful international expansion and robust market presence.

Our ongoing efforts in the capital markets have also been fruitful, raising an additional EUR 41.7 million, including an extended facility with Multitude Bank. This, combined with an annualized return-on-equity (ROE) of 59% for the first half of the year, is well above industry benchmarks. As ESTO continues to grow and innovate, I am confident in our ability to maintain this momentum and deliver even greater value to our stakeholders.”

About ESTO:

ESTO is a dynamic, forward-thinking company that aims to revolutionize the shopping experience by simplifying the complex shopping ecosystem. Leveraging its multi-year expertise and position as Estonia’s leading non-bank consumer credit institute, ESTO is positioned to reshape the e-commerce landscape in the Baltics and beyond. With a strong emphasis on technology and customer loyalty, ESTO aims to provide a seamless, tailored, and omnichannel shopping experience for both consumers and retailers.

View original content:https://www.prnewswire.co.uk/news-releases/esto-holdings-reaches-full-year-2023-profit-level-in-first-half-of-2024-marking-a-record-breaking-performance-302207479.html

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Productsup launches a new program, Productsup Connect, empowering businesses to build their own integrations for full data control

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Productsup Connect provides businesses with resources to gain complete autonomy in managing product data across the commerce landscape

BERLIN, Sept. 30, 2024 /PRNewswire-PRWeb/ — Productsup, a Product-to-Consumer (P2C) software company, today announced the launch of its new developer program, Productsup Connect. The program offers businesses a comprehensive suite of tools to build, customize, and scale their own integrations within the Productsup P2C platform. By enrolling in the program, customers gain complete autonomy in managing their product data workflows to meet the rapidly evolving standards of today’s digital commerce landscape.

“Modern commerce requires businesses to be agile, responsive, and innovative in how they handle their product data,” said Boris Penck, CTO of Productsup. “With Productsup Connect, we’re giving companies the ability to build custom solutions that not only meet their current business needs but also empower them to scale as they grow. It’s about giving them the freedom and flexibility to take full control of their data, with the confidence that they have the right tools and support to succeed.”

Developers enrolled in Productsup Connect gain access to the resources required to efficiently import, manipulate, and syndicate product content across multiple channels.

Key benefits of Productsup Connect include:

Full data control: Build integrations to seamlessly import and manage product data on the Productsup platform, ensuring complete autonomy over business operations.Custom export channels: Create new export channels to syndicate data to various platforms, driving growth and expanding market reach.Faster time-to-market: Reduce integration development time, enabling faster deployment and quicker response to market changes.Cost efficiency: Eliminate third-party dependency by empowering internal teams or System Integrators to develop integrations, saving both time and money.Scalability: Easily scale data integrations to align with business growth.Expert support: Access comprehensive documentation and receive ongoing expert support to ensure smooth integration development and deployment.

“Today’s consumers demand highly contextualized product information to make informed purchasing decisions, and keeping up with changing standards across various sales channels can be both time-consuming and expensive,” said Vincent Peters, CEO at Productsup. “At Productsup, we aim to simplify this complexity, empowering companies to create and deliver perfect product content to any channel or target consumer worldwide.”
For businesses without in-house development resources, Productsup offers easy access to its network of expert System Integrators who can deliver custom solutions through the Productsup Connect program.

Get in touch with the Productsup team to learn more about how to get started with Productsup Connect at http://www.productsup.com/contact-us.

About Productsup
Productsup enables global companies to create perfect product content journeys for every channel and target consumer worldwide. Processing over two trillion products a month, the highly scalable Product-to-Consumer (P2C) platform is equipped for the most sophisticated enterprise customers, helping them overcome commerce complexity to create consistent product, brand, and service experiences. Founded in 2010 and headquartered in Berlin, Productsup works with over 1,000 brands, including Sephora, Beiersdorf, Redbubble, and ALDI.
http://www.productsup.com

Media Contact

Alyssa Velez, Productsup, 219-765-6347, productsup@walkersands.com, www.productsup.com

View original content:https://www.prweb.com/releases/productsup-launches-a-new-program-productsup-connect-empowering-businesses-to-build-their-own-integrations-for-full-data-control-302260518.html

SOURCE Productsup

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oneZero SECUREs double win in Euromoney FX Awards 2024

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Awarded The World’s Best FX Technology Provider and The World’s Best Technology Provider for FX Liquidity

BOSTON, Sept. 30, 2024 /CNW/ — oneZero, a global leader in multi-asset enterprise trading technology solutions, is pleased to announce that it has won two prestigious Euromoney Awards: The World’s Best FX Technology Provider and The World’s Best Technology Provider for FX Liquidity.

For over 44 years Euromoney’s surveys and awards have set the global benchmark for FX excellence, as the most comprehensive representation of the wholesale FX market. The award entries are judged by a panel of global experts representing banks, providers and buy side corporations looking for robust examples of excellence and innovation in the market.

oneZero was founded in Cambridge, Massachusetts, in 2009 to deliver intelligent trading technology outcomes for all market participants. Today, oneZero is relied upon by hundreds of brokers, banks and buy-side market participants globally for price distribution, risk management, aggregation and data analytics. In recent years, oneZero, which has historically been the de facto provider of solutions for FX and OTC brokerages globally, has been making waves as it unveiled a solution for regional banks that addresses significant market demand for innovation in pricing derivative FX contracts and introducing data and AI to trading workflows.

Commenting on oneZero being named The World’s Best FX Technology Provider, Andrew Ralich, CEO and Co-Founder of oneZero, said: “I’m deeply proud of our team’s achievements, recognized through this prestigious award. From launching oneZero’s RFQ UI and platform for SMEs, to advancing portfolio risk management, while leveraging our extensive historical data to elevate our world-class analytics, oneZero is driving innovation in the institutional FX technology market.”

Commenting on oneZero being named The World’s Best Technology Provider for FX Liquidity, Ralich said: “oneZero remains dedicated to expanding our liquidity-neutral EcoSystem on behalf of our clients. We’ve expanded bank integrations to include Forwards, NDFs and Swaps via RFQ. Our Algorithmic Trading Module further empowers clients with strategies to optimize their bank and non-bank LP relationships, while leveraging our best-in-class data and analytics.”

Last month, oneZero announced that it had made the Inc. 5000 of America’s fastest-growing private companies for the third consecutive year.

About oneZero

oneZero has been a leading innovator in multi-asset class enterprise trading technology since 2009. Powerful software designed to provide intelligent performance combines oneZero’s Hub, EcoSystem and Data Source in an award-winning solution for execution, distribution and actionable analytics. oneZero delivers robust and scalable connectivity, infrastructure and market access, to empower banks,  brokers and investors to compete effectively in financial markets through globally compliant, liquidity-neutral solutions. oneZero is certified to the standards of ISO 27001 information security management systems, and provides 24/7 development and operations support in Asia, Australia, Europe and North America. In August 2023, oneZero made the Inc. 5000 list of America’s fastest-growing private companies for the second consecutive year.

For more information, please contact:

Talia Geberovich
Head of Marketing and Communications
tgeberovich@onezero.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/onezero-secures-double-win-in-euromoney-fx-awards-2024-302260077.html

SOURCE oneZero Financial Systems

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Xiaohongshu and VOGUE Business Redefine Home Aesthetics During Milan Fashion Week

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MILAN, Sept. 30, 2024 /PRNewswire/ — At the recent Milan Fashion Week, the world’s premier fashion showcase, a wave of new trends emerged, notably in the realm of home decor. Here, fashion and home furnishings merged seamlessly, signaling a novel trend. Xiaohongshu, in collaboration with VOGUE Business, hosted the VOGUE Business Milan Digital Summit themed “The Digital Silk Road: Pioneering the Future of Luxury Lifestyles” during the week. Mr. Shawn Li, General Manager of Commercial Durable Goods Business Group at Xiaohongshu, was one of the speakers on the “Tapping Lifestyle Trends: The Micro-Cultures Driving Engagement” panel. The summit, which explored the evolving concept of home living, provided profound insights into the changing lifestyles and preferences of today’s youth in China. It introduced innovative ideas and trends that are reshaping how young people envision their living spaces, offering avant-garde perspectives for brands on consumer engagement. The event also sparked a new discourse on aesthetics in home and lifestyle, creating a confluence of fashion, art, and daily living.

Xiaohongshu: A Go-to Social Media Platform for Tens of Millions of Users Finding Home Inspiration

Aligning perfectly with Xiaohongshu’s human-centric values, consumers are increasingly seeking harmony between their home environments and personal lifestyles. As a lifestyle community beloved by youth, the social media platform excels in understanding people’s needs, gaining insights into emerging consumer scenarios and industry trends in China. According to Xiaohongshu Research, as of Q2 2024, with a monthly active user base of 300 million, nearly 65% of whom are passionate about home life.

The shift has revitalized the home furnishing sector. Data from the Xiaohongshu Research shows a remarkable surge in home decoration and furnishings content over the last three years. Searches have soared by 450% from January to September 2022 to the same period in 2024. According to Nielsen’s report released in September 2024, about 89% of users prefer searching on Xiaohongshu for product reviews and user experiences before purchasing home appliances and furnishings. Xiaohongshu Research also indicates that Italian high-end brands like Natuzzi are experiencing significant market potential on the platform, with over 500,000 monthly searches, attracting numerous potential buyers.

During the summit, Shawn Li analyzed the diverse trends in the home furnishing sector from a human-centric perspective. By examining user demographics, preferences, and lifestyles, Shawn Li identified four demographic groups: Nomadic Youth, Nesting Youth, All-Rounders, and Home Curators. Emphasizing the “People – Needs – Scenarios – Trends” framework, Shawn Li highlighted Xiaohongshu’s role in helping brands understand their audiences, discover innovative marketing solutions, and outperform competitors.

Xiaohongshu’s Role in Shaping Home Furnishing Trends

In recent years, the flow of home furnishing fashion trends has shifted significantly. Previously, trends were dictated top-down, starting with designers and trendsetters, then trickling down to major brands and eventually reaching consumers. Now, this dynamic has reversed, with consumer behavior driving the trends. Xiaohongshu has been instrumental in the shift, creating a platform that encourages shoppers to express their personal styles, preferences, and lifestyles—effectively advocating for their preferred living environments. Each search, share, comment, and collect of posts on Xiaohongshu reflects the genuine needs of Chinese shoppers, fostering new trends in home furnishings in China that lead to industry innovations.

In September, Xiaohongshu unveiled its latest Annual Home Lifestyle Report. This analysis of community content and user search preferences highlighted eight new home ideas popular among Chinese youth. Focused on human-centric themes, the report emphasized vibrant life scenarios, emotional expression, and attitudinal resonance, enriching insights with warmth and energy. It shows that consumers are keen to reshape residential aesthetics with innovative furnishings and redefine family dynamics through thoughtful design, pushing the boundaries of traditional home spaces. Notably, the approach to incorporating hobbies into home design has evolved from merely finding storage solutions to creating spaces specifically designed around those hobbies. Consequently, more Chinese individuals are establishing specialized home studios dedicated to their passions.

Brand Strategy on Xiaohongshu Shifts: Witnessing Renewing Marketing in Home Furnishings

However, in the home furnishing industry, brands have formed unique business models and product structures due to domain and product differences, leading to distinct consumer decision-making processes. Based on Xiaohongshu’s research on Chinese consumer and business characteristics, brand marketing should start with the overall product structure, deeply understand consumer needs, and tailor strategies to specific category characteristics. For example, in major appliances, furniture, building materials, and daily home supplies, product structures span multiple related categories. Consequently, Xiaohongshu recommends that brands adopt a matrix-style product selection strategy on the platform, crafting content that aligns with consumer preferences and life scenarios. This approach aims to enhance category penetration and captivate consumer attention.

Data shows that the Gross Merchandise Volume (GMV) growth rate of the top 1,000 Single Product Units (SPUs) gaining traction on Xiaohongshu exceeds the overall market growth rate, highlighting the social platform’s refined strategies that can help brands achieve overall success.

The home furnishing industry is on the brink of significant market growth, and Xiaohongshu, the source of lifestyle inspirations in shaping Chinese youth’s living spaces, provides an optimal community for brands looking to expand their influence. Looking ahead, the social platform plans to leverage its extensive expertise in user insights and brand management to drive innovative marketing strategies within the home furnishing sector.

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View original content:https://www.prnewswire.co.uk/news-releases/xiaohongshu-and-vogue-business-redefine-home-aesthetics-during-milan-fashion-week-302261871.html

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