Apparel - SO

Apparel companies thredUP, Stitch Fix lean into AI, and optimized marketing mix to jumpstart growth

Posted on 20/08/2024

Even though apparel and accessories is the third fastest-growing product category we measure—growing 3.9% to reach $616.37 billion in US sales this year—retailers need to find creative ways to court consumers as they remain price-sensitive.

For resaler thredUP, it’s using AI to build on the success it found in fiscal year 2023 with increased orders (6% growth YoY) and revenues (12% YoY). While Stitch Fix is shifting its media mix to expect an 18% YoY revenue loss in Q2 2024 and a 17% YoY decline in active clients.

Putting the AI in retail: thredUP has recently rolled out new AI-backed

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Oracle Red Bull Racing and Castore sign record-breaking $200 million apparel deal

Posted on 19/08/2024

The Formula 1 giant, Oracle Red Bull Racing has announced an extension of its partnership with the premium sportswear brand Castore.

The newly unveiled pact is the largest apparel deal in F1 history, both in terms of duration and value.

The agreement, worth over $200 million, sees Castore remaining the official high-performance apparel supplier for the six-time Constructors’ Champions, providing racewear, training gear, and official merchandise for drivers, personnel, and Red Bull Academy members. Fans will continue to have access to the same teamwear through Oracle Red Bull and Castore’s online stores and at racetrack retailers.

The initial partnership between

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Founded by sibling team, U of T startup partners with university to sell apparel

Posted on 18/08/2024

Startup co-founders and siblings Sydney and Malik Pottinger are set to make history by becoming the first students to partner with the University of Toronto’s Trademark Licensing Office to create a capsule collection with their clothing brand MOTUS.

Sydnie, a third-year student at St. Michael’s College, and Malik, a fifth-year student in the Faculty of Kinesiology & Physical Education (KPE), will see their MOTUS line of fashion wear, complete with the university’s iconic T-and-leaf logo, go on sale at the U of T Bookstore’s St. George campus location in March.

The collection includes a varsity jacket, sweatsuits, beanies, soccer jerseys

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Bangladesh to export non-cotton garments worth $42bn by 2032

Posted on 17/08/2024

TBS Report

03 March, 2024, 03:30 pm

Last modified: 03 March, 2024, 06:32 pm

Representational image. Photo: Pixabay

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Representational image. Photo: Pixabay

The use of non-cotton fiber in garment production in Bangladesh increased to 29% from 25% over the last three years.

The rise was due to local apparel exporters moving away from cotton to incorporate more man-made fiber to get better prices and increase business, according to the findings of a new study released today.

Globally the ratio of non cotton fiber in a garment is 75% but in Bangladesh the picture is just the opposite because the

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