Nike’s Major Metaverse Acquisition

Inditex's Leadership Transition, Fashion Circularity

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WHAT YOU NEED TO KNOW TODAY: TUESDAY, DECEMBER 14, 2021 Nike has acquired virtual fashion platform RTFKT, the company announced Monday, in a signal of its ambitions in the space. Experienced managers are expected to smooth the leadership transition at Inditex as the Ortega family tightens its grip on the retailer. Closed-loop recycling could help reduce fashion's environmental impact, according to The State of Fashion 2022 report by The Business of Fashion and McKinsey. Despite concerns over the Omicron variant, Milan Men's Fashion Week will go on as an in-person event in January.

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TECHNOLOGY Nike Acquires Virtual Fashion Start-Up RTFKT By M.C. Nanda and Marc Bain

The company, which specialises in virtual sneakers and other accessories, was bought by the sportswear giant. The terms of the deal were not disclosed. READ MORE

RETAIL Inditex Managers Expected to Smooth Shuffle at Top By Reuters

An experienced team of managers should smooth the leadership transition at Inditex as the family of founder Amancio Ortega tightens its grip on the world's biggest fashion retailer, say sources. READ MORE

The Year Ahead: Paving the Way for Closed-Loop Recycling READ MORE

Novetex's Ronna Chao on Winning the Circularity Game READ MORE

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NEWS BRIEFS Milan's Mens Fashion Week Confirmed In January With 23 Physical Shows Kuwait Projects Appoints New CEO

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Industry Insights from BoF and Shopify's Executive Retail Forums Throughout 2021, Shopify and BoF connected leading retail executives to share their challenges and discuss finding opportunity in disruption in a series of roundtables. Now, BoF shares the most actionable insights that emerged from the community, as presented by the president of Shopify, Harley Finkelstein, at VOICES 2021. READ MORE

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