Technology news and archive

EU targets fast fashion e-commerce with new customs regime

The European Union is set to overhaul its customs regulations, targeting the burgeoning low-cost e-commerce sector in a move that could significantly impact global online retail giants and consumer shopping habits. European Commission President Ursula von der Leyen, who was re-elected for a second five-year term last week, announced the...

Fashion Featured

Mango debuts first AI-generated campaign

Forget for one moment the complex interplay between technological advancement and traditional creative processes in the fashion industry, and have a look at Mango’s first AI-generated campaign. The Spanish high street giant has shrugged off any concerns about AI potentially homogenising fashion imagery, unveiling an AI-generated campaign for its...

BusinessFeatured

Hi-Tech Apparel acquires custom-clothing software company Unmade

London-based fashion and sportswear software company Unmade, which enables brands such as New Balance, Decathlon and Ralph Lauren to offer customised clothing on-demand, has been acquired by global garment maker Hi-Tech Apparel. The deal, valuing the company at ten times its revenue, offers Hi-Tech Apparel, the Thailand-based conglomerate and...

Business

The sky's the limit: Amazon hits 2 trillion dollar valuation

When Amazon published its Q1 results in April, Andy Jassy, Amazon's President and CEO, stated: "It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results." At the time, however, Amazon had yet to cross the threshold of being valued above 2 trillion dollars....

Retail

Shopify unveils new AI-powered commerce features

Shopify, the e-commerce infrastructure provider, has unveiled a comprehensive update to its platform in its Summer '24 Edition, aiming to deliver a more unified and intuitive experience for merchants. The company is refining its services to meet the evolving demands of commerce across various scales, from entrepreneurs to enterprises. Deann...

Fashion

Bloom Labs win the Trailblazer Award at the Global Fashion Summit

At the Global Fashion Summit in Copenhagen, Bloom Labs on Tuesday was honoured with the prestigious Trailblazer Award, presented by Global Fashion Agenda (GFA) and PDS Ventures. This accolade recognises early-stage innovators driving transformative changes in the fashion and textile industry with planet-positive solutions. Bloom Labs secured the...

Fashion

TikTok takes strides towards transparent AI-generated content

In a bid to foster responsible creativity in the realm of AI-generated content (AIGC), TikTok has said it has implemented initiatives aimed at enhancing transparency and media literacy. Partnering with organizations such as the Coalition for Content Provenance and Authenticity (C2PA), TikTok will automatically label AIGC, setting a new standard...

Business

Amazon to invest 700 million euros in European robotics and AI

Amazon is leveraging its Innovation Lab, a diverse team of scientists and engineers from around the globe, to pioneer new technologies aimed at enhancing support for employees and improving customer satisfaction. Situated in Vercelli, Italy, the Amazon Operations Innovation Lab is shaping the trajectory of work across Amazon's network where...

Retail

Harrods to host multisensory cinema experience

Xydrobe, a VR cinema pioneer, will host a multisensory experience on the 5th floor at Harrods commencing in June. The company is set to unveil a cutting-edge virtual reality cinema at the luxury department store, will seat up to 20 guests and feature monthly changing 4D brand experiences. Xydrobe is a company that collaborates with luxury brands...

Retail

US retailers embrace transformative potential of AI

The US retail landscape is witnessing a surge of interest in artificial intelligence (AI), with industry giants such as Lowe’s, Walmart, Victoria’s Secret, and Rent the Runway significantly increasing their investments in AI technologies, as reported by Barron’s. While AI has been a fixture in retail operations for some time, the emergence of...

Fashion |OPINION

Is fashion's love affair with the metaverse over?

The diminishing enthusiasm of the fashion industry for the metaverse appears to align with a broader trend, where companies are increasingly directing their focus towards generative AI rather than the realms of immersive internet and digital avatars. Data from S&P Global Market Intelligence Kagan shows funding rounds involving 278 metaverse...

Fashion

Luxury brands are turning to blockchain for authenticity and insurance

In the world of digital luxury, a significant change is happening with the adoption of blockchain technology. One standout player in this field is Vaultik, known for creating a digital vault exclusively designed for luxury items. Their digital passports combine ownership and authenticity, providing a unique blockchain certificate for each luxury...