Generative AI could become a game-changer for the fashion industry, adding between US$150 and US$250 billion to operating profits within three to five years. While the fashion sector has only started integrating AI, the opportunities and challenges it presents are evident across all business processes.
The latest 2024 Circular Fashion Index (CFX) that measures fashion brands’ efforts to extend the lifecycle of their products and materials based on seven dimensions,has just 25 out of 235 players scoring 5 out of 10 or more.
It’s going to be fascinating to see how the market for NFTs develops. Total NFT sales for 2022 are heading for about £90 billion, more than double 2021 despite the fact that markets are sinking right now. The companies that succeed will probably be the ones that are alert to these risks, and view NFTs as a new revenue market to explore rather than a short-term opportunity.
Adidas Originals Brand Ambassador and India’s own Gucci Boy, Ranveer Singh marks the launch of the Adidas x Gucci collection on 7 June by taking on to his social media handles and unveiling some of his favorite looks from the much-anticipated collection that created phenomenal hype in the fashion world globally earlier this year at Exquisite Gucci...