The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
SANTA MONICA, United States — Snap Inc said Tuesday it will launch a new version of its Spectacles sunglasses, which will have the capability of capturing photos and videos and uploading them directly to its unit Snapchat, as the technology company works to develop its augmented reality features.
Snap has struggled to make money from its Spectacles business, and wrote down $40 million in unsold glasses in 2017.
The new Spectacles, limited edition and with fewer produced than in previous versions, allows Snap to continue experimenting with augmented reality, a key focus for it.
Spectacles 3, which will begin shipping in the fall, will cost $380, almost twice the previous version at $200 apiece. It will have dual cameras to add depth and dimension to photos and videos. After uploading the content to messaging app Snapchat, users can add new lighting, landscapes and three-dimensional effects to the images, Snap said.
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Snap gained fame among its young users in part through its augmented reality (AR) features, including lenses that can overlay effects like dog ears on photos, or even change a user's gender in Snap images.
The company added 13 million users in the second quarter, of which 7 million to 9 million were from the new AR lenses, Snap said.
Last week, Snap said it would raise $1.1 billion in debt to fund further investments in AR, content and possible acquisitions.
Snap should focus on earning more money from its content, and could potentially make investments in music, "a natural thing for people to share" on social media, said Jim McVeigh, founder of Cyndx, an investment search platform that connects companies with firms seeking to be acquired or to raise capital.
By Sheila Dang; editor: Bernadette Baum.
From customer loyalty types to its pillars of personalisation, SAP Emarsys customer engagement provides more than 1,500 companies with personalised marketing campaigns via AI-powered analytics, including Puma, Aldo and Reformation. BoF learns more.
Before fashion businesses can put artificial intelligence to work or target the right shoppers online, they need good data and a deep understanding of who their customers are and what they want. This case study offers a guide for brands that want to truly know their customer, allowing them to make smarter decisions that serve shoppers and drive results.
The US House of Representatives approved a bill that could ultimately lead to a ban of the app, but its path forward remains far from certain.
BoF welcomed business leaders, technologists and creative innovators to share their insights on how the fashion industry can navigate new frontiers in AI, shifts in digital culture and advancements in immersive technologies. Watch on-demand now.