Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
Gaming
Beauty’s Buzziest Roblox Games, Reviewed by Kids
Beauty brands have spent millions of dollars developing immersive games for the online gaming platform. What do Roblox’s users think?
A Fashion and Gaming Veteran Looks To Its Next Phase
The fashion styling game Drest, which launched before gaming was on most of the industry’s radar, has new funding and plans to expand its features and reach.
Nike and Fortnite Level Up Their Partnership
It’s the most immersive branded fashion experience in the popular game yet, even if you still can’t wear .Swoosh sneakers on a Fortnite avatar.
Digital Fashion’s Unlikely Alliance
Epic Games, creator of the video game megahit Fortnite, and the maker of Clo3D, a popular 3D fashion-design tool, are so aligned in their visions of digital fashion’s future that they bought shares in one another.
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Bored Ape’s New Boss Seeks to Revive NFTs Through Gaming, Events
For Daniel Alegre, the former Activision Blizzard Inc. executive who joined Yuga as chief executive officer last month, NFTs still have a bright future by serving as a room key to a world of gaming, events and e-commerce.
Gucci Teams Up With Company Behind Bored Ape Yacht Club
The luxury house and Yuga Labs aim to explore the intersection of fashion and entertainment.
How AI and Web3 Are Shaping Fashion’s Future
BoF welcomed business leaders, technologists and creative innovators to share their insights on the pivotal technologies shaping the fashion industry. Watch on-demand now.
Why Some Virtual Experiences Succeed and Others Become Digital Ghost Towns
More than a year since fashion brands started jumping into virtual environments like Roblox, they face a new challenge: keeping users coming back as they try to turn their marketing into sales.
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Why Fashion Is Taking Video Games Seriously
Games have become a cultural force in their own right and the preferred entertainment of Gen-Z, which accounts for a fast-growing share of fashion sales.
Why Fashion Loves Roblox
Tommy Hilfiger’s livestream of its NYFW show is just the latest example of fashion courting users on the platform, which is also rolling out an immersive new advertising format for brands.
The News in Brief
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
Lagardère Group Launches Egyptian Edition of Elle Magazine
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
Report: FTC to Consider Blocking Tapestry’s $8.5 Billion Capri Takeover
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols Appoints New CEO
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
Emerging Designer Platform The Folklore Raises $3.4 Million
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
Adidas Is Seeing Hot Demand for Sambas and Yeezys
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Sephora, Perfumes and Cosmetics Drive LVMH Sales Growth
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.