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Jacob Cohën Company SpA buys 100% stake in JC Industry
The company, owner of the eponymous men’s and women's luxury jeans label, has bought a 100% stake in JC Industry, Jacob Cohën’s licensed producer and distributor since F/W 2021-22, initially set up with the Sinv group.
Fashion
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 brand 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
US holiday sales growth to moderate this year, NRF says
US holiday sales will grow at a slower pace this year amid economic headwinds such as higher interest rates, the National Retail Federation said Thursday.
Fashion
At least three dead on URW site in Hamburg
Several workers dead and some still missing after scaffolding collapsed on the Unibail-Rodamco-Westfield group's major building site in Hamburg, Germany, a fire brigade spokeswoman said on Monday.
Free trade deal between EU and Australia collapses
Trade deal negotiations between European Union and Australia have collapsed despite earlier optimism, with the two sides exchanging blame on Monday for their failure.
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.
US consumer spending exits third quarter on strong note; monthly core inflation rises
U.S. consumer spending surged in September as households boosted purchases of motor vehicles and traveled, keeping spending on a higher growth path heading into the fourth quarter.
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.
Musk considers removing X platform from Europe over EU law
Elon Musk, owner of social media platform X, is considering removing the service formerly called Twitter from Europe in response to a new internet platform regulation in the region.
China's Q3 GDP growth, September activity show economic recovery gaining traction
China's economy grew at a faster-than-expected clip in Q3, while consumption and industrial activity in September also surprised on the upside, suggesting the recent flurry of policy measures is helping with recovery.