Ferragamo Sales Down 17% in First Quarter
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
Meta’s social network, which launched Wednesday, is the biggest competitor yet to the Elon Musk-owned platform and potentially gives fashion an important new channel for reaching audiences.
Users will be able to buy designs to use with their Meta avatars on Instagram, Facebook and Messenger.
This week, everyone will be talking about Meta’s new store and its Ray-Ban smart glasses, plus the selloff in tech stocks that has hurt the prospects of fashion’s unicorns.
Meta’s founder and chief executive met up with several power players, according to the evidence on Instagram.
While announcing Facebook’s rebrand as Meta, Mark Zuckerberg offered his vision of the metaverse, and how we’ll dress in it.
The social media giant is launching services that will help influencers better monetise their followings. But in the longterm, these changes may not best serve creators or brands.
Major technology platforms enable fashion brands to connect with vast audiences of consumers. But that access comes at a price.
A start-up is betting on virtual reality to spice up the online shopping experience. Goodbye thumbnail product images, hello 'underwater stores' and CGI yoga studios.
Companies are using personal exchanges via text, WhatsApp and Instagram to build a more intimate relationship with consumers.
Kevin Systrom and Mike Krieger are leaving the photo-sharing app, which has become an essential marketing and communications tool for the fashion industry since its founding in 2010.
The move to acquire original content is the latest effort from Facebook to attract more advertising dollars, putting it in competition with other content channels like Snapchat's Discover feature.
"Mark Zuckerberg doesn’t usually observe sentimental anniversaries. This year he’s confronted by three of them. On Feb. 4, Facebook (FB), the company
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this fall.
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.
Warby Parker’s revenue jumped 16 percent year over year to $200 million in the first quarter of the year as other brands in the sector struggle to grow sales. The eyewear seller expects full year sales to climb as much as 13 percent to $761 million in 2024.
New analysis shows that 162,000 tourists from outside the European Union sought refunds on VAT — a sales tax — exclusively in Britain in 2019. One fifth of those tourists are now claiming rebates in other parts of the EU, where the tax break still applies.
Fabiola Torres, who has also held leadership roles at Nike and Apple, will oversee the group's marketing, merchandising and store experience functions.
The company is anticipating further sales slumps this year. Its revenue will likely drop as much as 25 percent year over year to $190 million in 2024.