IBM, the American multinational technology company in collaboration with Burberry, has developed Voyage – a prototype of product traceability technology.The development is a part of the tech supplier’s internship programme with the theme ‘Sustainability in Fashion’.Image Courtesy: www.forbes.comThe participant students were tasked with designing, development and testing of an innovative new product for an IBM client. The work was been done in collaboration with Burberry’s digital experts.Voyage

Authenticated luxury consignment marketplace The RealReal has joined hands with Gucci through the end of the year to unveil an online shop featuring pre-loved Gucci items and promote circularity for luxury fashion. For all Gucci purchases or US consignments made through The RealReal, the companies will also plant a tree through nonprofit One Tree Planted.The RealReal is the world’s largest online marketplace for authenticated, consigned luxury goods. Planting of trees will help The RealReal’s gl

H&M confirms plans to shut 250 stores in 2021, nearly 5 percent of its total 5,000 global locations to invest more rigorously in digital operations. About one-quarter of its 5000 stores globally will have the chance to renegotiate or end leases next year which will allow the Swedish retail giant to shut down some stores in the process.Figure 1: H&M plans to close 250 stores worldwide in the next year.Why such closures?The pandemic’s hostile impact has changed consumer behavior in various

GREENSBORO - Wrangler and Lee jeans owner Kontoor Brands has announced its ambitions to reduce the environmental and social impacts of denim and apparel production in its first set of global sustainability goals.They include new commitments on the use of innovative foam dyeing technologies, the sourcing of sustainable cotton, and steps to ensure the wellbeing of workers in the company's supply chain.“Denim is known as being tough, durable and long-lasting. But the production process historic

American mall owner Brookfield Properties has experienced a serious dent in its revenue due to the pandemic.Image Courtesy: bloomberg.comConsequently, the company has announced its decision to lay off 20 per cent of its workforce in its retail unit, as reported byCNBC.The retail division consists of over 2,000 employees out of which the unfortunate lot found out about the job cut via a memo.“While many companies were quick to implement furloughs and layoffs at the onset of the pandemic, we made

The White House recently honoured the National Retail Federation with the Pledge to America’s Workers Presidential Award, recognising the NRF Foundation’s ‘RISE Up’ initiative. Presidential advisor Ivanka Trump and commerce secretary Wilbur Ross highlighted NRF and eight additional businesses and trade organisations for their workforce development programmes.Pic: ShutterstockDeveloped and managed by the NRF Foundation, the RISE Up (Retail Industry Skills & Education) training and credentiali

Salvatore Ferragamo, a luxury goods company, approved its financial result for first half (H1) FY20 ended on June 30, 2020. Revenue for the six months period fell 46.6 per cent to €377 million compared to revenue of €705 million in the same period previous fiscal. Company incurred a net loss of €86 million compared to net profit of €60 million in H1 FY19.Gross profit for H1 FY20 was €225.9 million (H1 FY19: €456.8 million). The operating loss for the quarter was registered of €74.4 million compa

, global luxury brand, has collaborated with live video streaming service Twitch for its Burberryshow which will be live streamed on September 17 on Burberry’s Twitch account. The show, set in the British outdoors, will use Twitch’s Squad Stream functionality, with Burberry hosts live streaming the show in one window.Pic: BurberryThis will provide virtual guests with the ability to view multiple perspectives of the show at once and converse through Twitch’s chat function, creating a personal, in

Athletic and lifestyle footwear retailer The Athlete’s Foot has ventured into apparels for the first time with a new category, selling activewear and performance wear clothing on its website.Image Courtesy: franchising-today.comThe brand is ready to host the products from the likes of ASICS, Puma, adidas, New Balance, New Guard, 2XU and On Running, amongst others.The activewear category will also include accessories such as socks, massage balls, exercise bands and bags from the same brands.Addit

recently announced ending its ties with a Chinese yarn producer over accusations of ‘forced labour’ involving ethnic and religious minorities from the Xinjiang province. It didn't work with any garment factories in the region and would, China's largest cotton growing zone, the retailer said.Pic: ShutterstockA March report by the Australian Strategic Policy Institute (ASPI) had mentioned H&M as one of the beneficiaries of a forced labour transfer programme through its relationship wit