Technology news and archive

LVMH accelerates data contribution to its businesses to drive development

Data analytics has long been powering the fashion industry, from entire algorithms to predict sales, like at fast fashion giant Shein, to augmenting customer experience with personalised offers. Luxury group LVMH has been expanding its use of data for over three years, partnering with Kaggle Days, an international competition for data...

17 Nov 2022

RetailFeatured

Digital dissatisfaction: online retail experiences should be improved with new tools

A growing dissatisfaction amongst consumer digital retail experiences shows a lack of innovation in the sector. New research from PYMNTS, a retail, fintech and financial services news platform, showed 150 brands were dissatisfied with existing tech innovations. In a study titled “Big Retail’s Innovation Mandate: Convenience and Personalization,”...

18 Oct 2022

Business

Metaverse digital assets to be worth 225 billion dollars by 2027, says report

A new report on market opportunities in Metaverse platforms suggests digital asset marketplaces could be valued at 224.9 billion dollars by 2027. In the "Metaverse Market by Technologies, Platforms, Solutions and Applications in Industry Verticals 2022 - 2027" report by Research and Markets, blockchain solutions supporting the Metaverse could...

5 Sept 2022

Fashion

New report shows popularity of virtual try-ons in fashion and beauty space

Insights into the ever-changing standards of beauty and fashion technology trends were shared in a report by fashion tech solutions provider Perfect Corp. The findings from the Beauty and Fashion Tech Trends Around the World report, analysed big data sourced from Perfect Corp.’s YouCam suite of apps, which features thousands of AR-powered beauty...

31 Aug 2022

Fashion

Prada drops second NFT collection

Prada has released its second Timecapsule NFT Collection, a monthly online event where for 24 hours exclusive items are dropped on its website in limited quantities and in selected markets. The collection follows the collaboration with artist Cassius Hirst, which was dropped in early June and sold out, according to Prada. Sustainability Some...

1 Jul 2022

RetailFeatured

Four exciting technologies for fashion retail

Retail is becoming increasingly tech-savvy as the fast-evolving industry looks to keep up with consumers’ growing demand for more convenient, engaging and frictionless ways to shop. Brick-and-mortar stores are increasingly using innovative technology to improve areas such as payment and check-out solutions, data analytics, and customer-centric...

30 Jun 2022

Fashion Featured

In Meta's new store Avatars can be dressed in Balenciaga, Prada and Thom Browne

Meta is launching an Avatar Store on Facebook, Instagram and Messenger. The store will launch to include digital clothes from Balenciaga, Prada and Thom Browne, as was announced by Mark Zuckerberg on Twitter. The Facebook founder and Instagram Fashion Director Eva Chen were pictured as avatars in several looks from each designer. Early in May Mr...

20 Jun 2022

RetailFeatured

European Union updates legal framework of online sales

The legal framework of online sales in Europe has been updated and implemented from June in order to protect brand owners, wholesalers and resellers. Revenue from online sales is crucial to most fashion brands but many grey areas exist concerning laws and regulations. For most fashion brands, and especially luxury, online sales is curbed by...

14 Jun 2022

Fashion

Gucci launches smart ring with Finish brand Oura

Gucci is launching a smart ring with finnish tech company Oura. Oura rings are a sleep and activity tracker measuring the physiological signals of one’s body in relation to their lifestyle. The company has marketed itself as a fashionable alternative to clunky wearable tech products and users appreciated the simplicity of its designs. The Gucci...

30 May 2022

Retail

Zowie, a chatbot for retailers, raises 14 million dollars in funding

Zowie, an AI powered chatbot built to support sales for e-commerce brands, has raised 14 million dollars in a Series A funding round. Automating customer service is a sizeable challenge for brands and retailers, especially larger companies dealing with high levels of queries. Chatbots are one of the most popular choices for companies looking to...

26 May 2022

BusinessFeatured

Mark Zuckerberg meets Italy's fashion elites to discuss next generation of smart wearables

Meta’s CEO Mark Zuckerberg is on a charm offensive, meeting with Milan’s top fashion professionals to discuss the next generation of smart wearables in virtual reality. The founder of Facebook and parent of WhatsApp and Instagram, Meta is heavily investing in the future of wearable technology and last year launched a range of smart glasses with...

7 May 2022

Fashion |Report Featured

Fashion industry to double down on tech investment to stay competitive

Last week Bored Ape Yacht Club, a non-fungible token (NFT) collection built on the Ethereum blockchain, sold the biggest metaverse NFT project to date, with over 320 million dollars of assets sold in one mint. The news comes as fashion companies are set to invest record amounts in technology, nearly doubling their stake from 1.6 percent in 2021...

3 May 2022