Keeping you updated on the latest luxury fashion resale, retail, and tech news by the Luxclusif R&D team.
- Patagonia’s Founder Yvon Chouinard has transferred the ownership of the company to ensure all profits are directed to combat climate change. The move is a bid to ensure the company continues to operate in accordance with responsible business practices, regardless of whether he or his family remain involved. Under his ownership, the brand has built a business known as much for its corporate activism and anti-consumer marketing as for its popular wool jackets, climbing gear, and inflatable waistcoats. Patagonia is now owned by two entities: the Patagonia Purpose Trust and the Holdfast Collective. The company itself remains a for-profit business.
- LVMH reveals plans to cut energy consumption. The Group has announced an energy efficiency plan that falls under the French government's new measures to support collective and individual energy consumption. This plan comes as tensions around the electricity market continue to rise with the winter approaching, and therefore, LVMH has stated that it will begin reducing its electricity consumption from October. Starting in France and then rolling out across the group globally, the company will follow two key measures to enable a 10% reduction in consumption over a year - switch off lighting throughout the night in the group's portfolio shops, and modify indoor temperatures in its industrial facilities, administrative sites and shops. The investment to complete its renewable energy transition will also increase. The group expects to achieve a 15% reduction in energy consumption worldwide by 2023 compared to 2021.
- On presents first ever shoe made from carbon emissions. Swiss performance sportswear brand has found a way to make a shoe out of carbon emissions, together with Technip Energies, chemical company LanzaTech and plastics solutions provider Borealis. On introduces Cloudprime, a shoe made from CleanCloud EVA (ethylene vinyl acetate) foam. Cloudprime is part of On's efforts to move away from fossil fuels and use alternative materials to create high-performance sports products. This makes the company the first in the footwear industry to use carbon emissions as the primary raw material for the midsole of a shoe.
- Vogue World partners with Snap on AR filters and fashion try-ons. Snap has created a range of special location-based AR lenses for Vogue World's New York Fashion Week show, while two additional lenses and the in-room AR try-on will be accessible globally. During the Vogue World event, a runway show will feature autumn 2022 looks from designer brands including Dior and Burberry. Attendees can open the Snapchat app for a different visual experience using Snap Lens, which overlays the user's environment with AR features. After the event, users of the Vogue Runway app can access virtual versions of eight designs and try them on using Snap AR technology. They will then have the option to share the outfits with other social media platforms.
- FashionUnited has developed a product database tool to improve standards in the fashion industry, enabling a timely and accurate exchange of complete and standardized data, saving partners time and money. This new product database works in a simple way. The partner brands provide product information that is collected in the system, it then automatically sorts and converts the raw product data into a unified format and returns this standardized data to the brand owner, who can then share it with their retail partners.? Specific information including type, fabric, color, size, and the product code amongst other crucial information is added to the database, enabling the retailers to easily retrieve the optimized data to use for various purposes.?
- Pantone reveals the color palette for London Fashion Weeks SS 23. This blends the need for high energy and dynamic vibrancy with colors that comfort and provide a calm space. The shades integrate tradition with innovation, combining consumers' needs for brightness as well as vibrant positivity with quitting tinted tones.
