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Management

Veesual raises 7.5 million US dollars and announces US expansion

Veesual, the Paris-based AI-powered virtual try-on platform for the fashion industry, has closed a 7.5 million US dollar seed round led by AVP (AXA Venture Partners) and Techstars. The investment will accelerate the company's plan to expand into the US market by opening its first US-based office in New York in 2025, recruiting senior US talent,...

Management

Brunello Cucinelli confirms FY24 forecast on strong Q1

First quarter sales at Brunello Cucinelli were up by 16.5 percent at current exchange rates and 17.9 percent at constant exchange rates to 309.1 million euros. The company said that the first quarter performance is in line with expectations and consistent with the 10 percent growth expected for the full year. Commenting on the results, Brunello...

Management

Asos reports H1 loss, names new CFO

For the first half period, Asos reported an adjusted pre-tax loss of 120 million pounds, while total sales declined by 18 percent to 1,505.8 million pounds. Adjusted EBITDA loss widened to 16.3 million pounds compared to the 4.6 million pounds in the period last year. Asos reiterated guidance for FY24 sales decline of 5 to 15 percent, positive...

Management

Fy! acquires marketplace Trouva

London-based Trouva, the platform for independent boutiques and brands, has been acquired by Fy!, the AI-enabled marketplace for home and living. The acquisition doubles Fy!'s business size and is part of its wider strategy to leverage artificial intelligence to offer unparalleled marketplace experiences for sellers and buyers alike. Trouva,...

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