Business

UK luxury sector worth 81 billion pounds to the economy

The British luxury sector is now worth 81 billion pounds annually to the UK economy, supporting more than 450,000 jobs across various sectors, making it one of the top industry drivers of the economy, according to a new report from Walpole. The ‘Luxury in the Making’ report from the industry body that represents more than 250 British luxury...

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Business

AI-powered mmERCH secures 6.4 million US dollars in investment

Blockchain-enabled Web3 fashion start-up mmERCH has announced a 6.4 million US dollar seed funding round led by Liberty City Ventures, with participation from 6529 Holdings LLC, Christie’s Ventures, and Flamingo DAO. The round was also supported by chief executive and co-founder of Paxos Charles Cascarilla, Web3 investor Mike Jacobellis,...

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Business

Ulta Beauty posts 2.5 percent increase in Q4 comparable sales

Fourth quarter net sales at Ulta Beauty increased 10.2 percent to 3.6 billion dollars due to increased comparable sales, new store performance, strong growth in other revenue, and the benefit of an extra week of sales in fiscal 2023. Comparable sales increased 2.5 percent, driven by a 4.5 percent increase in transactions and a 1.9 percent...

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Fairs |In pictures

Texhibition Istanbul March 2024 focuses on denim and a move upmarket

From 6 to 8 March 2024, Texhibition Istanbul brought together 25,752 visitors from 112 countries and 560 exhibitors of fabrics and accessories for the spring/summer 2025 collections. The fifth edition of the fair offered the opportunity to discover the most important materials produced by Turkish companies as well as a new denim area. It was...

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