Others
The latest news
ChatGPT’s creator OpenAI in midst of staff switch linked to AI risks
After the ousting of OpenAI’s boss, who has immediately been hired by Microsoft, 700 employees of the firm behind ChatGPT have threatened to resign. A vast skills transfer that hides a schism prompted by AI’s dangers.
Waste from Adidas, Walmart, other brands fuelling Cambodia brick kilns-report
Waste from at least 19 international brands including Adidas and Walmart is being used to fuel kilns in brick factories in Cambodia, and some workers were falling ill, according to a report by a local rights group released on Monday.
Fashion
85% of European SMEs rely on digital tech for growth
Over three quarters of European SMEs said that digital tech is crucial to their growth plans, and a resounding 84% pinpoint technology as instrumental to enhanced efficiency and cost management.
Pinterest keen to attract luxury labels via its affluent Gen Z users
Pinterest is keen to become a destination for luxury labels, tapping its 482 million users worldwide, including a growing number of affluent Gen Z individuals.
Fashion
The metaverse: the virtual revolution that won't happen?
The fashion and luxury industries have done all they can to avoid missing out on the metaverse. But as these virtual worlds are struggling to find their audience, the hope of making a return on their investments is low.
Fashion
New orders difficult to secure for Turkish manufacturers in Q4 2023
Turkish manufacturers endured a challenging demand environment at the start of the fourth quarter this year, with new orders increasingly difficult to secure, according to S&P Global.
De Beers agrees five-year wage deal with South African union
Anglo American Plc's De Beers on Thursday signed a five-year wage deal with the National Union of Mineworkers which represents workers at its South African diamond operations.
Luxury
Global economy to slow to 3.1% in 2023 amid various challenges: Report
The global economy will slow to 3.1% in 2023 as monetary policy tightening, the war in Ukraine, and lingering effects of the COVID-19 pandemic continue to affect growth, as per a report.
L'Occitane benefits from Sol de Janeiro's triple-digit growth in the first half of the year
Still propelled by the outstanding performance of the American skincare brand Sol de Janeiro, L'Occitane has achieved a revenue of 1.07 billion euros, marking an 18.5% increase in the first half of its fiscal year.
Launchmetrics: Instagram reigns supreme in fashion, lifestyle, and beauty industries
The latest data report from Launchmetrics shines the spotlight on Instagram's significance within the fashion, lifestyle, and beauty (FLB) sectors, and reveals the most powerful brands on the platform.
Fashion
Europe nears ban on Russian diamonds
During a visit to Belgium by the Ukrainian president, the Belgian prime minister revealed that the EU is on the cusp of finalizing a ban on Russian diamonds, of which Antwerp serves as a key gateway.
Luxury
Podcast: Simone Gibertoni from Clinique La Prairie deciphers cutting-edge technologies to enhance human lifespan
Simone Gibertoni, CEO of Clinique La Prairie, delves into proactive treatments and advanced technologies designed to extend human lifespan with Godfrey Deeny for the LuxurynsightXFashionNetwork podcast (in English).
Beauty
Spanish brands such as Zara, Mango, Pull&Bear, and Tous temporarily close their stores in Israel
Mango has decided to close nearly all its stores in Israel, numbering around 50, and operated by a franchise partner. Tous has shuttered its 12 franchised stores in the region.
Fashion
Alphabet lays off hundreds from global recruitment team
Google parent Alphabet is laying off employees from its global recruiting team as the tech giant continues to slow hiring, it said on Wednesday.
Textile machinery: a slowing market except for spinning
The 45th annual report from the ITMF (International Textile Manufacturers Federation) shows a slowdown in textile machinery deliveries in 2022 across all stages of production, excluding spinning.
Fashion
AI-based counterfeiting at heart of US accusations against Shein
Three US designers whose patterns were replicated identically want to press charges against Shein for digitally generated copyright violations, under the Racketeer Influenced and Corrupt Organizations (RICO) Act.
Fashion