As the world's largest search engines unveiled new AI robots, the artificial intelligence (AI) is taking hold in the value chain of fashion accessories, furniture, apparel and footwear, from optimizing resale experiences, helping shoppers find products that are suitable for reducing returns and customizing the purchase journey.
Adidas is not sure what to do with $1.2 billion worth of unsold Yeezy shares after ending its partnership with Kanye West after the latter made a series of anti-Semitic comments last year, leading Adidas to pull its brand back from sale. The debacle, along with what one analyst called a "catastrophic performance" in China, could lead to Adidas' first annual loss in 31 successful years. [Adidas warns of first loss in decades after split with Kanye West - sky.com]
The opening of the common border between Colombia and Venezuela has begun to generate benefits for the neighboring country's trade sectors. One of them is the footwear industry. This is reported by digital media such as Blu Radio. The station reported that it will need to hire more than 2,000 workers at shoe factories in Bucaramanga, Colombia. [Se reactiva industria de calzado en Colombia- Venezuela News]
A Moroccan fertilizer firm saw record profits after the war in Ukraine sent European feedstock prices soaring. The most common fertilizers are synthesized from methane. Organic fertilizers are products that result from processes of transformation of organic waste, for example tannery waste. [Ukraine war fallout benefits one of world's biggest fertiliser ...- FT]
Jack Ma is giving up controlling rights of Ant Group Co., as the billionaire further retreats from his online empire following China’s unprecedented tech crackdown. The company is offering 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma’s control of Ant, according to an announcement on Saturday. [Jack Ma cedes control of Ant Group – FT]
The effect of the pandemic in China, where the intransigent "zero Covid" containment policy imposed in an authoritarian way by the Beijing government continues, is particularly heavy for retail chains. A Reuters dispatch reports that sales fell 0.5%, against expectations of a 1.0% increase and compared to a 2.5% increase in September. On the other hand, the country is missing its annual growth target of 5.5%. A Reuters poll predicts growth of only 3.2% in 2022.
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