METAVERSE FASHION COUNCIL

LVMH WOULD TAKE €800 MILLION HIT FROM FRANCE'S PLANNED TAX HIKE The proposal calls for a temporary increase for companies with revenue in France above €1 billion. While plenty of French companies may be hoping the government’s proposed €8 billion increase in corporate taxes remains a temporary measure, as promised, executives at some have been hard at work trying to quantify the possible impact. Ten companies in the CAC 40 Index disclosed in recent weeks that they would pay a combined €2.8 billion in extra tax next year, according to a review of earnings statements and conference calls. That’s a third of the amount the government wants to raise to help bring the budget deficit down. Luxury giant LVMH, France’s biggest company by market value, expects to owe as much as €800 million in additional taxes. Among others that have disclosed the biggest hits: Toll-road operator Vinci SA, jet-engine maker Safran SA and handbag-maker Hermes International. For the many companies that declined to provide an estimate, analysts have been crunching the numbers to help them sort winners from losers in what is already one of Europe’s worst-performing stock markets this year. “The risk is to see this increase in corporate taxes staying for a long period of time, beyond 2026, until the government is sure to get its 3 percent target for its deficit,” Mabrouk Chetouane, head of global market strategy at Natixis, said in an interview. That would curb investor appetite for French stocks, he said. The CAC 40 has underperformed other European indexes this year because of months of government turmoil and the prospect of big budget cuts to deal with the country’s “colossal” debt. Prime Minister Michel Barnier’s draft budget for next year calls for the temporary levy on some 440 profitable companies with annual revenue in France of more than €1 billion. The tax, first payable next year based on this year’s results, aims to generate €8 billion in 2025 and €4 billion in 2026. Societe Generale analyst Roland Kaloyan said the tax itself would be less of a knock to investor confidence than the unstable political environment in which it was proposed. “If a government comes in for five years, says we have to fix the deficit and put a tax, the businesses could understand that. But the government might be different in six months,” he said. #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

CREATIVITY = CAPITAL Meet Anna Misyura, Creative Manager & Producer at Esprit | Fashion Tech Innovator | Digital Design Strategist Anna Misyura will be speaking at the Metaverse Fashion Summit during Metaverse Fashion Week 2024 (November 20-24) on the topic "Creativity = Capital: How to Raise and Invest in the New Smart Fashion Economy" as part of the core theme "INVESTING IN SMART FASHION: AI, WEB3, CRYPTO, GAMING, AND DEFI" Anna is renowned for: • Pioneering innovative approaches to digital fashion design • Creating groundbreaking visual narratives in fashion photography • Bridging art, technology, and fashion through her multidisciplinary expertise As a Creative Manager at Esprit has established herself as a leading voice in the intersection of creativity, technology, and fashion. Her work exemplifies the power of authentic storytelling and innovative design in the digital age. Her educational background spans: • Condé Nast College of Fashion & Design (London) • School of Visual Art and Design "Alsterdamm" (Hamburg) Don't miss this opportunity to learn from one of the most innovative minds in fashion tech. Anna's insights on combining creativity, AI, sustainability, and personal well-being promise to provide valuable perspectives for industry professionals and fashion enthusiasts. Join us at the Metaverse Fashion Summit to explore the exciting future of smart fashion - https://lnkd.in/gqrkRXK8 For more information on LinkedIn: https://lnkd.in/gpijXEMZ #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

INSIDE SECRETS FROM THE SILICON VALLEY MEET Andrew Romans is indeed a prominent figure in the venture capital landscape. As the General Partner of 7BC Venture Capital and founder and General Partner of Rubicon Venture Capital, he brings extensive experience to the field1. His recently published book "Masters of Raising Venture Capital: Inside Secrets from Silicon Valley" has quickly become essential reading in Silicon Valley. At the upcoming Metaverse Fashion Summit during Metaverse Fashion Week 2024 (November 20-24), Romans will be speaking on the core theme "INVESTING IN SMART FASHION: AI, WEB3, CRYPTO, GAMING, AND DEFI." His specific topic will cover "Corporate venture capital perspectives." His expertise in corporate venture capital and his experience in guiding startups to successful exits make him a valuable speaker for this event, offering perspectives on how established companies and startups can collaborate and innovate in the rapidly evolving fashion tech landscape. Don't miss this opportunity to learn from one of the leading voices in fashion tech investment. Romans' expertise in corporate venture capital and his track record of successful exits make him uniquely qualified to discuss the future of investment in smart fashion. Don't miss this opportunity to learn from one of the top minds in future tech and its human impact. Join us at the Metaverse Fashion Summit to explore the exciting future of smart fashion and weellbeing - https://lnkd.in/gqrkRXK8 For more information on LinkedIn: https://lnkd.in/gpijXEMZ #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

WHY WE INVESTED IN: WITH NOTHING UNDERNEATH Key Takeaways from Vogue Business With a starting capital of £7,000, in 2017 Pip Durell launched women’s shirt brand With Nothing Underneath (WNU). Durell closed the first round of funding for WNU at £2.5 million. Pembroke VCT injected £1.5 million into the pot, and JamJar Investments £1 million. Established in 2013, Pembroke VCT has previously backed womenswear brand ME+EM Ltd, achieving a 16 per cent return on its investment of £955,000 at the time of exiting in 2022. The investor now backs women’s activewear brand TALA among other growth-stage consumer technology, and business services and fashion brands like Bella Freud. JamJar Investments was also set up in 2013 by the founders of Innocent Drinks, Richard Reed, Adam Balon and Jonathan Wright, alongside partner Katie Marrache, to back the next generation of consumer brands. Some of the early-stage companies it invests in include Deliveroo, Oatly and menswear brand SPOKE. “The last four years, which is the timeline in which these brands we are backing have been established and attempting to grow, have been riddled with Covid, the cost of living crisis, and wars in Ukraine and the Middle East. These are tough things to consider,” says Andrew Wolfson, CEO of Pembroke VCT. A resilient business model is among the fund’s top criteria. “The brands we’ve invested in have, in this climate, managed to achieve growth,” he says. For JamJar Investments, for whom WNU is the first premium women’s fashion brand in their portfolio, they were in search of a label with the potential to be an icon in its category. “That’s what excites us,” says JamJar investor Emily Bullman “Across the due diligence process, we kept getting the same feedback from customers — they loved the fit, it appealed multi-generationally, and the brand’s repurchase rate is incredible for a fashion brand. We easily think this could be a £250 million-plus exit,” Bullman says. Meanwhile, access to capital remains a significant barrier — not just for “One of the things that really hurts brands is growing too fast,” says Wolfson. “And yet, every brand wants to grow really quickly. Ultimately, it is a model that falls over. Another mistake young brands make is raising a lot of money and then spending it all too quickly. According to Bullman, employing many people at once can be a huge operational and cash burden on a brand, especially if it makes the wrong hires. “The other mistake is to aim to grow the top line so quickly that all they’re doing is spending to acquire customers who actually aren’t even the right type of customers for the brand,” she adds. #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

DAYDREAM IS POISED TO BE A "CHATGPT OF SHOPPING" Key Takeaways from The Business of Fashion: 💎 In the first public demonstration of her new AI shopping platform, Daydream, Julie Bornstein outlined her vision of how generative AI will transform product search and discovery. 🧚♂️ “The problem is information overload,” Bornstein said at BoF VOICES 2024. “The amount of input that human brands are getting every second of everyday is something the human species has never experienced — too many pages, too many products.” 🧠 Her solution is Daydream, an AI-powered shopping platform. Like ChatGPT or Microsoft’s Copilot, Daydream allows users to ask questions via text prompts like “what can I wear to a ‘vintage 1920s’-themed party?” and receive a feed of recommended products, with images and prices, that they can then refine further. Customers can also use images to search. 🧘♂️ The platform allows shoppers to save items they like and builds a customer profile based on their browsing activity it calls a “Style Passport.” The more time a user spends on the platform, the more customised Daydream’s results. Bornstein and her co-founders, who include Matt F., Dan Cary, Lisa Yamner Green and Richard Kim are racing to create the first big consumer-facing shopping platform built on using generative AI to solve the problem of search and discovery in e-commerce. 🧜♂️ In June Daydream announced $50 million in seed funding. The round was led by Forerunner Ventures and Index Ventures. Google’s venture arm, GV, as well as True Ventures, were also investors. “At Daydream, the way we’re thinking about solving this problem is creating what’s in essence ChatGPT for shopping,” Bornstein said. “If you have the ability to ask anything you want, we have the ability to help you.” Daydream, which will charge a commission on sales, is her next big swing. It’s already working with 2,000 brands, including Gucci, H&M, Net-a-Porter and Alo Yoga. “My career journey has been a mirror to tech development over the last 20 years,” Bornstein said. “Our goal is to build a personal stylist for everyone, but in the meantime we’re focused on conversational search.” #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

SILICON VALLEY TO INVEST IN SMART FASHION 💎 The upcoming Metaverse Fashion Week 2024 is set to become a pivotal first step in this transformation. With participating venture capital funds and angel investors managing collective capital exceeding several billion dollars, the summit signals Silicon Valley's serious intent to reshape the fashion industry. 🛍 Democratizing Fashion Investment One of the most revolutionary aspects of this transformation is the democratization of fashion investment. Smart Fashion initiatives are opening up new possibilities for retail investors to participate directly in fashion's future, extending beyond traditional stock market investments in established brands. This democratization aligns with the concept of "self-fashioning"—allowing individuals to not just consume fashion but to participate in its investment. #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

METAVERSE WITH IDENTITY AND SELF EXPRESSION Meet Sallyann Houghton, Epic Games' Fashion / Apparel Leader | Digital Design/Fashion Expert | Virtual Production Innovator | Metaverse Pioneer 🥀 Sallyann Houghton will be speaking at the Metaverse Fashion Summit during Metaverse Fashion Week 2024 (November 20-24) as part of the core theme "INVESTING IN SMART FASHION: AI, WEB3, CRYPTO, GAMING, AND DEFI" 🌹 Sallyann is renowned for: • Spearheading Epic Games initiatives in fashion and apparel within the Unreal Engine ecosystem • Bridging the gap between traditional fashion design and cutting-edge digital technologies • Pioneering the use of virtual production techniques in fashion showcases and marketing • Driving innovation in avatar creation and digital fashion through MetaHuman technology 🌲 As the Unreal Engine Business Development lead for Media & Entertainment / Fashion at Epic Games, Sallyann is at the forefront of revolutionizing how the fashion industry interacts with technology. Based at the Epic Games London Innovation Lab, she plays a crucial role in helping fashion brands and creators leverage real-time 3D technology to push the boundaries of design, presentation, and consumer engagement. Key achievements include: Facilitating collaborations between major fashion houses and Epic Games' Unreal Engine Driving the adoption of virtual production techniques in fashion shows and campaigns Promoting the development of digital fashion items and virtual try-on experiences Don't miss this opportunity to learn from one of the leading voices in fashion technology. Sallyann's unique perspective at the intersection of gaming technology and fashion innovation promises to provide valuable insights for industry professionals and enthusiasts alike. Join us at the Metaverse Fashion Summit to explore the exciting future of smart fashion - https://lnkd.in/gqrkRXK8 For more information on LinkedIn: https://lnkd.in/gpijXEMZ #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

GLOBAL LUXURY SALES FALL 2% IN 2024 Key Takeaways from Reuters: ⬇ Sales of personal luxury goods are projected to fall 2 percent this year, marking one of the weakest performances on record, as price hikes and economic uncertainty shrink the industry’s customer base, particularly in China. Sales of personal luxury goods are set to fall 2 percent this year, making it one of the weakest on record, with price hikes and economic uncertainty shrinking the industry’s customer base, according to consultancy Bain & Company. ↪ In its closely-watched report on the 363-billion-euro ($386 billion) market, Bain estimated a 20-22 percent sales drop in China, which has turned into a drag after a years-long boom before the pandemic fuelled by the wealthy and growing middle-class. ↩ The forecasts include the effect of currency moves. “This is the first time the personal luxury goods industry has declined since the 2008-09 crisis, with the exception of the pandemic,” Bain partner Federica Levato told Reuters. ☢ The study released on Wednesday will likely heighten concerns among investors that the sector’s current downturn, which has knocked shares in the likes of LVMH and Kering, may be longer and deeper than anticipated. Global sales of luxury personal goods - spanning clothing, accessories and beauty products - are expected to be flat at constant exchange rates during the holiday season, with China’s performance still negative, Levato said. A shift by brands to position their products within a higher price band, coupled with weaker consumer confidence amid wars, China’s economic woes and elections across the globe, has led many customers, especially younger ones, to forgo purchases. ☣ “The luxury consumer base has declined by 50 million over the last two years, from a total of approximately 400 million consumers,” Levato said. Growth prospects for the market hinge partly on the strategies brands choose to pursue, including on pricing, she added. In a further sign that higher prices are holding back consumers, Bain said the outlet channel was outperforming, driven by shoppers’ quest for value. The personal luxury goods sector is expected to grow by between 0 percent and 4 percent at constant exchange rates in 2025, supported by sales in Europe and the Americas, with China seen recovering only in the second part of the year, Bain said. 🚰 Levato said Donald Trump’s victory in the US presidential election had removed one uncertainty, while possible interest rate and tax cuts could encourage Americans to spend more. In contrast to personal goods, luxury spending on experiences, such as hospitality and dining, is expected to increase this year, Bain said. #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

UNDER TRUMP, TARIFFS COULD REWRITE U.S. FASHION'S PLAYBOOK Key Takeaways from Vogue Business 😯 The American Apparel & Footwear Association (AAFA) is revamping their approach to working with lawmakers 😪 In bad news for European luxury brands, Goldman Sachs economists were scrambling to revamp their 2025 economic growth forecasts for Europe, using a conservative estimate of what Trump’s plans might mean. On Thursday, they slashed an already anemic growth estimate to 0.8 per cent from 1.1 per cent. They also cut forecasts for 2026, and warned that if Trump actually imposes the full tariffs he promised, the forecasts will be further slashed. 🤔 Trump has pledged to deport millions of undocumented workers. That’s difficult for the industry to protest, without conceding that it employs undocumented or falsely documented workers. The American fashion industry is rife with low-wage workers in cotton production, cut-and-sew factories, sorting houses and other parts of the supply chain that consumers rarely witness. Removing some of them from the labour supply will raise labour costs and apparel prices in a US economy that is already at or near full employment. 😮 In the background of all this is general angst: the apparel industry employs a great number of women and LGBTQIA+ workers who are concerned about social issues including access to health care and the continued right to gay marriage. 🤐 Ninety-eight per cent of clothing and footwear consumed in the US is manufactured overseas because the US apparel manufacturing industry was wiped out as factories moved offshore beginning in the 1970s. 😑 Some advocates are hoping that the Trump administration, with its hostility to Chinese imports, will be more amenable to revising or ending the ‘de minimis’ rule that allows small shipments of many imports worth less than $800 to avoid tariffs. The de minimis rule inadvertently helped to create an ultra-fast fashion boom in the US after Congress raised the minimum from $200 in 2016 to encourage e-commerce. 🤗 Hopes to revamp that and impose a more unified federal regulatory framework could raise support for the Americas Act, a proposal with bipartisan support to encourage trade within the Western hemisphere. The trade act would close the de minimis rule and create incentives for apparel recycling among trading partners, including $14 billion in loans and grants for retrofitting infrastructure and machinery, and tax breaks for textile resales. #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain

AI TO FOSTER SUSTAINABILITY IN SMART FASHION Meet Elena Volkova, CEO & Co-Founder at Style DNA | Sustainable Fashion Advocate 👾 AI & Fashion InnovatorElena Volkova will be speaking at the Metaverse Fashion Summit during Metaverse Fashion Week 2024 (November 20-24) on the topic "AI and its influence on the sustainable Smart Fashion" as part of the core theme "INVESTING IN SMART FASHION: AI, WEB3, CRYPTO, GAMING, AND DEFI"Elena is renowned for: • Pioneering AI-powered personal styling solutions • Advocating for sustainable fashion practices • Transforming the e-commerce landscape with innovative tech As the visionary behind Style DNA, Elena has revolutionized personal styling by making it accessible and sustainable. Her app combines cutting-edge AI technology with expert image consultant knowledge to help users discover their unique style, optimize their wardrobes, and make informed, sustainable fashion choices Growing Style DNA to 300K active users and 70K paying subscribers Achieving $3 million in annual revenue by the end of 2023 Partnering with over 150 retailers to create a diverse marketplace At the Summit, Elena will open a discussion on AI and Sustainability in Smart Fashion. This session promises to explore the intersection of technology, personal well-being, and sustainable fashion practices. Attendees can expect insights on: • How AI is reshaping personal styling and shopping experiences • The role of technology in promoting sustainable fashion choices • The impact of personalized style on individual well-being and confidence Don't miss this opportunity to learn from one of the top minds in fashion tech innovation. Elena's unique perspective on combining AI, sustainability, and personal well-being in the fashion industry is sure to provide valuable insights for industry professionals and fashion enthusiasts alike. Join us at the Metaverse Fashion Summit to explore the exciting future of smart fashion - https://lnkd.in/gqrkRXK8 For more information on LinkedIn: https://lnkd.in/gpijXEMZ #web3 #investment #metaverse #ai #fashion #technology #crypto #paris #parisfashionweek #innovation #crypto #blockchain