Technology news and archive

Chanel ventures into wearable tech with innovative timepiece

In a bold move that signals a shift in the luxury goods sector, Chanel has unveiled its first wearable technology design with the Première Sound watch, that hasn’t compromised on either style or luxury. This innovative timepiece, which doubles as a necklace, incorporates integrated wired headphones, a microphone, and remote control...

BusinessFeatured

Un-bear-ably cool: Material Exchange introduces first AI sourcing assistant for fashion

Digital sourcing platform Material Exchange has introduced the world’s first AI-supported sourcing assistant for fashion: His name is Frank and he's a bear. He leaves digital assistants like Alexa, Siri and Paperclip (remember?) far behind, because he has style - and an interesting background story. Frank comes from northern Sweden and always...

BusinessFeatured

Fundraising crunch could hit fashion start-ups

The fashion startup ecosystem is experiencing a significant downturn as founders grapple with an increasingly challenging fundraising environment. Recent data from Carta, a leading equity management platform, reveals a troubling trend of company closures that has been steadily rising over the past two years, with fashion-focused startups...

Fashion

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...

FashionPress Release

TextileGenesis launches a version 2.0 of its traceability platform for the fashion industry

TextileGenesis, a Lectra Group company, announces the availability of version 2.0 of its SaaS platform providing the fashion ecosystem with totally reliable, secure and digitized traceability of all materials and garments. This new version offers innovative new features from risk management, traceability engine based on more than 300 real-world...