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Bits & Bytes | Lucky Shuts Down, Showroomprive IPO, Intel Chips Away at Fashion

Bits and Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Showroomprive | Source: Courtesy
By
  • Kate Abnett

"Lucky Magazine Shuts Down Once and for All, Here's Why It Failed" (Mashable)
"On Friday, the handful of remaining staffers at The Lucky Group's editorial side were dismissed, the final gasp of a publication that once held sway over 1 million readers, many of them young women and avid online shoppers."

"Showroomprive Raises $280 Million After IPO Priced at Low End" (Bloomberg)
"Online retailer Showroomprive and its owners sold shares for 256 million euros ($280 million) in an initial public offering to help fund expansion beyond France"

"Intel is Chipping Away at Fashion" (The New York Times)
"Intel Corporation likes to fit billions of transistors on a square inch of silicon, but in September, it tried something really challenging: blending computers and fashion in a way people would actually want to wear."

"Jet.com Raising up to $500 Million Led by Fidelity at $1 Billion Valuation" (Re/Code)
"Jet.com has signed a term sheet for a huge new funding round led by mutual fund giant Fidelity, multiple sources told Re/code. The ambitious e-commerce startup is raising as much as $500 million at a valuation of around $1 billion pre-money."

"Can Luxury Brands Hack Their Own Growth?" (The Guardian)
"Exclusive brands have shied away from scaling their businesses by exploiting digital networks, but shrinking marketing budgets could change their minds."

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