Why There May Never Be a Gen-Z Warby Parker or Glossier

Should Fashion Fear AI?; Brewed Protein and the Future of Alternative Materials

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WHAT YOU NEED TO KNOW TODAY: THURSDAY, MAY 4, 2023 Where many millennial founders pursued growth at any cost, the next generation of entrepreneurs is more focused on niche audiences and profitability. AI's opponents probably can't stop the fashion industry from adopting the technology, but they can shape how it's used, writes Marc Bain. Japanese sportswear group Goldwin and biotech start-up Spiber are gearing up to test the market for lab-grown materials. The Business of Beauty Global Forum, streaming live from Napa Valley on May 30 & 31, is only four weeks away. Sign up today to join us for the global livestream. Estée Lauder forecast a bigger drop in full-year sales and profit on a slower-than-expected rebound in travel retail.

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DIRECT-TO-CONSUMER Why There May Never Be a Gen-Z Glossier or Warby Parker By Malique Morris

Instead of emulating the fast-paced growth favoured by their predecessors, the current wave of fashion and beauty start-ups are taking a slow-and-steady approach to brand-building. READ MORE

TECHNOLOGY Should Fashion Fear AI? By Marc Bain

Refusing to engage with the technology amid rising concerns it could replace human creativity and displace workers isn't going to stop it or prepare companies and their employees for the future. READ MORE

CHINA Big-Spending Chinese Shoppers Are Splurging on Luxury at Home, Not Abroad Anymore By Bloomberg

Though Chinese tourists are slowly traveling abroad again, analysts surveyed by Bloomberg say the share of their shopping taking place overseas won't be returning to its heyday. READ MORE

BEAUTY The Business of Beauty Global Forum Is 4 Weeks Away — Register Now for the Global Livestream By BoF Team Join us on May 30 and 31, 2023 to unlock essential learnings, challenge conventional thinking, inspire innovation and reimagine the future of the global beauty and wellness industry. READ MORE

SUSTAINABILITY Will Fashion's Next Generation of Materials Be Brewed Like Beer? By Yola Mzizi Japanese sportswear group Goldwin and biotech startup Spiber are set to test the market for lab-grown materials with collections for brands including North Face and Woolrich this fall. READ MORE

'Toxic Trail of Pollution': States Step Up to Curb the Use of 'Forever Chemicals' READ MORE

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

NEWS BRIEFS US Lawmakers Query Nike, Adidas Over Forced Labor in China Pandora to Slow Down Brand Relaunch in China Halima Aden Returns as Vogue Arabia Cover Star Estée Lauder Sinks After Dour 2023 View on Slow Asia Travel Retail Revlon Emerges From Bankruptcy After Lender Takeover Valentin Yudashkin, Russian Designer of Dresses and Dress Uniforms, Dies at 59

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At Hyaloid, Evolving DTC to a Multiplatform Model CEO Oh Sang Hyeon shares how Hyaloid's latest platform strives to ease the customer user experience through several applications delivered on one platform technology, accessed with the use of one password on its social commerce service. "If you can meet in the virtual world directly, it's natural to have direct logistics from the company to the consumer," Oh Sang Hyeon told BoF.  READ MORE

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