1. Prosus-backed fast-fashion startup Virgio, valued at $161 million, to shut down. Virgio’s thesis was that as consumer fashion tastes evolve, many are finding current market options inadequate. The startup sought to refine its design, manufacturing, and procurement procedures to cater more promptly to Gen Z and older millennials. – Read More on TechCrunch
2. The hunt for a new way to tackle clothing waste. “Instead of dyes you could use the structure of the fibre itself, the same for water repellency, rather than coating it, or to make wrinkle-free fabrics.” – Read More on BBC
3. Chanel Increases Prices in China as Concerns About Luxury Demand Mount. Chanel increased prices of its high-end products in China in September. The company also raised prices in Taiwan, Thailand, Malaysia, Australia and Japan. – Read More on Bloomberg
4. More ‘3 Stripes’ Nonsense: Adidas Opposes LIV Golf’s Trademark App For Logo. “I’ve been surprised before, but I truly cannot imagine a world in which the TTAB does not ultimately allow LIV to register this mark. They’re too different.” – Read More on TechDirt
5. Laying the foundation for data- and AI-led growth. Many organizations intend to increase their spending on the wider family of AI capabilities and the data infrastructure that supports them by double digits during the next year. – Read More on MIT Tech Review
6. Governments race to regulate AI tools. Rapid advances in artificial intelligence (AI) such as Microsoft-backed OpenAI’s ChatGPT are complicating governments’ efforts to agree laws governing the use of the technology. – Read More on Reuters