
Articles
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1 week ago |
businessoffashion.com | Marc Bain
The self-proclaimed first crypto-native luxury brand, 9dcc, is shutting down. The brand’s anonymous founder, Gmoney, announced the news in a post on X Tuesday and said the company would wind down operations at the end of the month. “Despite strong brand recognition and community engagement, we were unable to overcome the macroeconomic headwinds in consumer Web 3 and global luxury retail softness,” Gmoney wrote in the post.
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2 weeks ago |
businessoffashion.com | Marc Bain
Google is looking to further integrate artificial intelligence into how people discover and buy products online, including a feature that can complete checkout on a user’s behalf. The search company announced a set of shopping-related updates at its annual I/O developer conference Tuesday. Shopping will be a key capability of its new AI mode, which Google plans to roll out to all US users in the coming weeks after testing it in its experimental platform, Search Labs.
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3 weeks ago |
businessoffashion.com | Marc Bain
It’s safe to say fashion’s dealmaking drought is over. On Thursday, Dick’s Sporting Goods and Foot Locker announced an agreement for Dick’s to buy Foot Locker for roughly $2.4 billion. Dick’s offered $24 a share for the sneaker retailer, a premium of 86 percent. The acquisition came little more than a week after Skechers’ $9.4 billion buyout by 3G, a Brazilian private-equity firm, and a month after Prada bought Versace for $1.25 billion. All three deals are blockbusters by any standard.
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3 weeks ago |
businessoffashion.com | Cathaleen Chen |Marc Bain |Sheena Butler Young |Brian Baskin
Listen to and follow ‘The Debrief’: Apple Podcasts | Spotify | OvercastOn May 12, the US and China reached a deal to temporarily reduce tariffs for 90 days, offering a breather from an escalating trade war. Stocks surged on the news, but experts warn this relief might not fully resolve deeper industry uncertainties or consumer anxieties.
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3 weeks ago |
businessoffashion.com | Marc Bain |Cathaleen Chen
Moments after news broke Monday morning that the US and China had reached a trade deal, Bogg founder Kim Vaccarella called her manufacturer in Dongguan, China and told them to start making her brand’s colourful plastic beach bags again. “We had a lot on hold and as of this morning, we’ve released 90 percent of our production orders,” Vaccarella said. She added that she’s also slowing down on a frantic search for alternative factories in Vietnam and Sri Lanka.
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