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Chinese Millennials May Save Luxury Brands

PYMNTS

Sales of luxury goods in China are skyrocketing — up around 20 percent from 2016 — in its sharpest growth since 2011, as Chinese millennials seek products like handbags and cosmetics, Reuters reported. Capitalizing on the trend, French fashion retailer Louis Vuitton , part of LVMH , launched an eCommerce website in China in 2017.

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SoFi Attracts Big Name In Latest Funding Round

PYMNTS

The company said it will use the capital to invest in growth and add some muscle to its $2.3 Previous SoFi investors include SoftBank Capital and Peter Thiel. The private capital space has attracted a lot of interest lately: Investments in the area grew to $4.4 billion balance sheet. percent annual percentage yield.

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Postmates Adds Delivery To 1,000 More Cities Ahead Of IPO

PYMNTS

We weren’t able to spend that much money in 2018 because we weren’t the most capitalized player,” said Postmates CEO Bastian Lehmann, in reference to DoorDash and Uber Eats. “We Lehmann co-founded the company with Sean Plaice and Sam Street in 2011. “We We are now putting the money we have raised to great use.”. billion for DoorDash.

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How Can Banks Thrive in the Next Five Years?

Jeff For Banks

They are/were the business owners, demanders of capital and loans, and significant depositors. Then came this bubble generation they named millennials. Ever call your millennial child only to get a text back asking "what?" There is a fintech firm, SoFi, that was born in 2011, that focuses on millennials financial needs.

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How TikTok ‘eGirls’ Helped Create A Multi-Million-Dollar Fashion Brand

PYMNTS

But that is exactly where husband-and-wife entrepreneurial team Shaudi Lynn (aka DJ Shoddy Lynn) and Bobby Farahi started when creating Dolls Kill in 2011. The brand has been well-known among Generation Z and millennial consumers for several years – particularly those into the clubbing and music festival scene.

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Is It Officially Time To Start Worrying About Consumer Credit?

PYMNTS

And now it seems credit cards are coming to the party — Capital One, Synchrony and Discover Financial have all increased their loan-loss provisions and reported increasing delinquencies. Capital One’s first-quarter earnings are a good case in point, as they notched a much higher rate of loss than its management or investors were expecting.

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Don't Bank. SoFi

Jeff For Banks

After its most recent capital raise in September, SoFi, a marketplace lender that focuses on millennials, has raised nearly $1.5 billion in equity capital since its founding in 2011. billion in equity capital, with a market capitalization close to book value. By comparison, over 100 year old and $7.7