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Is It Finally Time for Virtual Fitting Rooms?

Tracing Ethical Gems, Imaginary Ventures Invests in Digital IDs

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WHAT YOU NEED TO KNOW TODAY: TUESDAY, FEBRUARY 15, 2022 Virtual fitting rooms have long been touted as retail's future, but failed to take off. Increased funding and demand has given the space new momentum. Jewellers are turning to high-tech solutions to meet consumer demand for ethically sourced gems. Luxury brands are competing for prime locations in Tokyo's upscale shopping districts. Imaginary Ventures led a $10 million funding round for Eon, a platform that allows brands to set up digital identities for physical garments.

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TECHNOLOGY What Will It Take for Consumers to Embrace Virtual Fitting Rooms? By Joan Kennedy

Long touted as a solution for e-commerce's low conversion rates and ballooning returns, AR and AI-powered fit-tech is gaining momentum — but many of the same old challenges remain. READ MORE

SUSTAINABILITY Gem Traders Turn to DNA Tracing, Blockchain to Clean Up Supply Chains By Milena Lazazzera

Trade in emeralds, rubies and sapphires have been linked to human rights abuses and funding armed conflict, terrorism and military dictatorships. The industry is struggling to find a solution. READ MORE

LUXURY Luxury Brand Turf Wars Boost Retail Rents in Upscale Tokyo Areas By Bloomberg

Footfall in Tokyo's upscale shopping districts rose in the last quarter of 2021, spurring competition for prime locations between luxury firms such as LVMH and Richemont. READ MORE

TECHNOLOGY Imaginary Ventures Leads Funding of Digital ID Platform Eon By Marc Bain It's a bet that these digital IDs will be crucial to brands as they try to take advantage of the business opportunities offered by Web3. READ MORE

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NEWS BRIEFS Sock Maker Bombas to Explore an Initial Public Offering Levi's Global Brand President Resigns Following Covid Dispute Britain Fines JD Sports, Footasylum $6.4 Million for Breaching Order Vietnam to Keep Factories Open Amid Covid Surge

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