Trace Network Labs, a complete decentralised protocol for enabling multi-chain, cross chain handling of lifestyle for metaverses, has unveiled a refreshing new look of its website. The new website reflects the company’s vision to pioneer metaverse technologies for fashion and lifestyle powered by blockchain and web 3.0, it said in a social media post.
Alessandro Michele quits Italian luxury brand Gucci
After serving as a creative director since 2015, Alessandro Michele has exited Italian luxury fashion brand Gucci. The company has not revealed who will succeed Michele. Meanwhile, the in-house design team will continue to carry the direction of the brand forward until a new creative director is announced, confirmed Kering, the French group who owns Gucci.
Belgium’s fashion designer Raf Simons closes namesake menswear label
Belgian fashion designer and stylist Raf Simons has announced his decision to discontinue his eponymous men’s fashion brand after 27 years. The international icon’s latest Spring-Summer 2023 collection has turned out to be his label’s final fashion offering. Simons’ final collection had been showcased in mid-October 2022 at London’s nightclub Printwork.
ABFRL to launch 1st Galeries Lafayette store in India in 2024
Aditya Birla Fashion and Retail Limited has entered into a strategic partnership with Galeries Lafayette, known for its flagship location at Boulevard Haussmann in Paris, to open luxury department stores and a dedicated e-commerce platform in India. The flagship stores in Mumbai and Delhi will bring more than 200 luxury and designer brands under one roof.
British brand Burberry reports 27% growth in H1 FY23 operating profit
British luxury fashion house Burberry has achieved a 27-per cent growth to £263 million in operating profit of the first half of fiscal 2023. The company’s revenue was £1,345 million in H1 FY23, 11 per cent more compared to the first half of 2022. Retail comparable store sales in H1 FY22 grew 5 per cent, while the wholesale revenue increased 1 per cent.
American brand Ralph Lauren elects Wei Zhang to board of directors
Ralph Lauren Corporation has announced the election of Wei Zhang, most recently senior advisor and prior president of Alibaba Pictures Group, to the company’s board of directors, effective November 9, 2022. With the election of Zhang, the Ralph Lauren board is now comprised of 13 directors. Zhang was with Alibaba Group from 2008 until 2022.
Germany’s DHL & FMACM launch ‘One Planet’ clothing collection
DHL and FMACM, a Chinese fashion brand, have launched the ‘One Planet’ clothing collection. The collection inspires to advocate the concept of sustainable fashion and includes eye-catching sweatshirts, hoodies, and T-shirts that feature DHL’s red and yellow logo. DHL is a German logistics company providing courier, package delivery and express mail service.
South Korea’s Z-emotion & Lambda256 partner to launch 1st fashion NFT
Z-emotion, a South Korean 3D garment technology company and real-time simulation technology provider, has joined hands with Lambda256, the operator of Upbit, to launch its first exclusive digital fashion non-fungible token (NFT). The NFT will be launched on the popular IP, Ghost Soul Society (GSS), on Cyphrly, which is Lambda256’s global NFT marketplace.
Global sales of personal luxury goods to grow by 22% in 2022: Study
A study by US consultancy firm Bain & Company commissioned by Italy’s Altagamma association of high-end producers has found that luxury spending is growing faster than ever due to pent-up pandemic demand and shifting demographics. Global sales of personal luxury goods are expected to grow by 22 per cent this year to €353 billion from €290 billion in 2021.
US’ Nike launches digital community .Swoosh
US’ footwear, apparel, equipment, and accessories company, Nike, has launched. Swoosh. The new digital community and experience is a home for Nike virtual creations and uses blockchain-powered technology, or what many call ‘web3’, to offer an inclusive, equitable place for athletes, creators, collectors, and consumers to design and own the future of sport.