EU Ramps Up Support for Startups and Scaleups with New Strategy The European Union (EU) is setting its sights on becoming the top destination for startups and scaleups to thrive in the world of innovation, investment, and tech growth. With the launch of a new strategy specifically tailored to support these budding businesses, the EU […]
The BoF Podcast | Inside The Great Luxury Reset
The BoF Podcast | Inside The Great Luxury Reset In the realm of luxury fashion, a profound transformation is underway. Imran Amed, the visionary founder and CEO of The Business of Fashion, and Luca Solca, the esteemed managing director of luxury goods at Bernstein, recently engaged in a riveting discussion with System Magazine’s Jonathan Wingfield. […]
Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall
Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall The allure of the Chinese travel retail market has long been a beacon of hope for global beauty conglomerates like Estée Lauder Companies and L’Oréal. With the influx of Chinese tourists seeking luxury goods at duty-free shops, these companies positioned themselves to capitalize […]
Tencent sees strong Q1 growth as gaming rebounds, AI ads boost sales
Tencent’s AI Investments and DeepSeek Integration Drive Strong Q1 Growth Tencent, the Chinese tech giant, has recently reported a robust growth in the first quarter, thanks to its strategic investments in artificial intelligence (AI) and successful integration of DeepSeek technology. The company’s proactive approach to leveraging AI and enhancing its advertising capabilities has not only […]
Luxury Sector Faces More Gloom as Bain Cuts Sales Forecast
Luxury Sector Faces More Gloom as Bain Cuts Sales Forecast The luxury sector, known for its resilience in the face of economic downturns, is now experiencing a significant blow as consultancy Bain & Co slashes its sales forecast for the year. The renowned consultancy has predicted a global decline in luxury goods sales ranging from […]
Burberry’s Reset Begins to Click
Burberry’s Reset Begins to Click Burberry, the renowned British luxury fashion house, has recently made headlines with its strategic reset under new management. Despite facing challenges such as a swing to a loss in full-year profit and a 6 percent decline in quarterly sales, the company’s shares have soared as investors show confidence in its […]
Mytheresa Reports Slower Sales Growth
Mytheresa Reports Slower Sales Growth Mytheresa, the renowned German e-tailer, has been navigating through a period of slower sales growth, facing challenges that have put its ability to outperform the broader luxury market to the test. Despite its aspirations to solidify its position as a leader in online luxury retail, the company encountered uncertainty in […]
EU and Japan reinforce tech and digital partnership
EU and Japan Strengthen Tech and Digital Partnership for Economic Security In an era where technology and digitalization play a crucial role in shaping economies and industries, the European Union (EU) and Japan have taken a significant step towards reinforcing their partnership in these domains. The tech and digital agreement between the EU and Japan […]
Google unveils AI tool to boost African businesses
Google Unveils AI Tool to Boost African Businesses In a groundbreaking move to empower African businesses, Google has recently introduced a cutting-edge AI tool aimed at supporting small firms across the continent with powerful advertising capabilities. This initiative marks a significant step towards leveling the playing field for African entrepreneurs, enabling them to harness the […]
CrowdStrike cuts jobs amid AI shift
CrowdStrike Cuts Jobs Amid AI Shift In a bold move that has sent ripples through the tech industry, CrowdStrike recently announced the axing of 500 roles as part of its new strategic direction. The cybersecurity firm’s decision to prioritize Artificial Intelligence (AI) underscores the growing trend of companies turning to automation to enhance their operations. […]