What Makes a ‘Cultural’ Brand?

Why Epic Games Invested in a Digital Fashion Start-Up; Highlights of the Upcoming Business of Beauty Global Forum

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WHAT YOU NEED TO KNOW TODAY: THURSDAY, MAY 18, 2023 Golden Goose is the latest luxury player to put culture at the heart of its brand strategy. A deal between Fortnite maker Epic Games and digital fashion design tool Clo3D is a big bet on garments as content. Priya Rao shares why she is excited about The Business of Beauty Global Forum coming up on May 30-31. Sign up for the livestream today. Heron Preston is launching L.E.D. Studio, a new environmentally conscious creative practice. Shein raised $2 billion at a lower valuation and set a target to grow revenue by 40 percent this year, The Wall Street Journal reported.

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LUXURY 'Culture Is the New Luxury': Golden Goose CEO Unveils Strategy for Next Chapter By Robert Williams

After reaching €500 million in annual sales, Golden Goose is set to roll out a new cultural hub in Venice and leverage partnerships with creators including Suki Waterhouse and Brian Woo, joining players like Louis Vuitton and Moncler in putting culture, not just fashion, at the heart of its brand in a bid to widen its appeal. READ MORE

TECHNOLOGY Digital Fashion's Unlikely Alliance By Marc Bain

Epic Games, creator of the video game megahit Fortnite, and the maker of Clo3D, a popular 3D fashion-design tool, are so aligned in their visions of digital fashion's future that they bought shares in one another. READ MORE

BEAUTY Why I'm Excited About Our Inaugural Global Beauty Forum By Priya Rao

Join the global livestream on May 30 and 31, 2023 to unlock essential learnings, challenge conventional thinking and inspire innovation in the global beauty and wellness industry. READ MORE

RETAIL Report: Shein Raises $2 Billion at a Lower Valuation By Cathaleen Chen The latest funding round for the Chinese fast fashion behemoth puts the company at two-thirds of its $100 billion valuation from last year, according to the Wall Street Journal. READ MORE

Heron Preston Launches L.E.D Studios READ MORE

BoF PROFESSIONAL Join now and enjoy your first 30 days for just $/£/€1 START TRIAL

NEWS BRIEFS CFDA/Vogue Fashion Fund Names Finalists T.J. Maxx Parent Raises Profit View as Cost Pressures Ease Angelina Jolie Launches Fashion Venture Gucci Show Reaffirms Seoul's Status as Capital of Pop Culture 16Arlington Wins BFC/Vogue Designer Fashion Fund 2023

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At Oud Fashion Talks, Demystifying the Rapidly Transforming GCC Fashion Industry Opportunities abound in the Middle East fashion industry for local and international players — the region was cited in BoF and McKinsey's State of Fashion 2023 report as a key market international brands should look to for prospective growth. The GDP of the Gulf Cooperation Council (GCC) countries — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates — is forecast to grow 3.7 percent compared to 1.5 percent for the overall global economy, according to Oxford Economics. The second edition of Oud Fashion Talks explored the forces transforming the Gulf's fashion industry today, with key learnings from BoF Insights' 'Fashion in the Middle East' report and from executives of local retailers, manufacturers, designers and entrepreneurs. READ MORE

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