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Lyst Acquired by Japan's Zozo for $154M Amid E-Commerce Challenges
Lyst Acquired by Japan's Zozo for $154M Amid E-Commerce Challenges
Lyst, the high-end fashion marketplace once valued at $700 million, has been acquired by Japan's Zozo for $154 million in cash. The acquisition allows Zozo to expand its international portfolio while Lyst will operate as a standalone business with its CEO, Emma McFerran, remaining at the helm. The deal comes as Lyst faces challenges from U.S. tariff hikes, fierce competition from giants like Amazon, and shifting investor interest towards AI. Despite a significant reduction in value, Lyst aims to leverage Zozo's resources to enhance its operations in the competitive fashion e-commerce landscape.
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CaaStle Faces Financial Troubles Amid CEO Resignation
CaaStle Faces Financial Troubles Amid CEO Resignation
CaaStle, a fashion startup known for its plus-sized clothing subscription service, is reportedly nearing financial collapse. CEO Christine Hunsicker has resigned as the company grapples with severe monetary issues, and law enforcement is investigating alleged financial misconduct. A leaked board letter revealed the dire situation, and the startup's job board shows no open positions, signaling further trouble. With over $530 million raised since its inception, CaaStle last secured $43 million in 2019. Experts warn that 2025 could see an uptick in startup failures.
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Meta Unveils Limited-Edition Ray-Ban Coperni Smart Glasses at Paris Fashion Week
Meta Unveils Limited-Edition Ray-Ban Coperni Smart Glasses at Paris Fashion Week
Meta has launched the Ray-Ban x Coperni Limited Edition Smart Glasses during Paris Fashion Week, offering only 3,600 units globally. Priced at $549, these stylish wearables feature a 12-MP camera, advanced AI capabilities, and voice control, making them a coveted item for both fashion and tech enthusiasts. The glasses showcase a new translucent black-grey frame and grey mirrored lenses, enhancing their exclusivity. Sales begin Monday at 1 AM PDT, exclusively through Meta, Ray-Ban, and Coperni's online platforms. This release marks Ray-Ban's first fashion-branded collaboration.
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FARO Secures $6M to Transform Surplus Clothing Market in Africa
FARO Secures $6M to Transform Surplus Clothing Market in Africa
FARO, a South African startup, has raised $6 million to tackle the issues of surplus clothing from global brands and environmental waste in Africa. The venture aims to source, refurbish, and sell excess inventory, providing affordable fashion while addressing the demand for secondhand goods. With plans to expand from four to 1,000 stores in the next decade, FARO focuses on restoring consumer returns often discarded by brands. The startup's strategy includes introducing AI to streamline operations and enhance customer experiences, targeting a market poised for significant growth.
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Ultrahuman Unveils Luxury Smart Rings at CES 2025
Ultrahuman Unveils Luxury Smart Rings at CES 2025
At CES 2025, Ultrahuman introduced its new luxury smart ring collection named Rare, featuring three models crafted from 18K gold and pt950 platinum. The Indian startup aims to redefine smart jewelry with these high-end wearables, priced between £1,500 and £1,800. Founder Mohit Kumar emphasized the brand's focus on health and exclusivity. The rings maintain the same advanced health tracking technology found in the Ring Air. The collection will debut in the UK and France, with plans for expansion to other markets, including New York and Milan.
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Prada Joins Axiom Space to Design Spacesuit for NASA's Artemis III Mission
Prada Joins Axiom Space to Design Spacesuit for NASA's Artemis III Mission
Fashion powerhouse Prada has partnered with Axiom Space to develop the AxEMU spacesuit for NASA's upcoming Artemis III mission, set for December 2025. This mission aims to return humans to the Moon, marking the first lunar landing in over 50 years. Prada's expertise in innovative materials and design will enhance the suit's functionality, comfort, and protection against lunar conditions. Axiom Space has praised Prada's advanced sewing techniques and engineering capabilities. Notably, this mission will also feature the first female astronaut landing on the Moon, making it a historic event for humanity.
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