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Oroton trebles profit after rigorous cost-control measures

Inside Retail

Luxury fashion retailer Oroton Group says its profit more than tripled on the back of higher sales and stricter cost and inventory management in FY23. The company booked a net profit of $8.2 million in the 12 months ended July 30, up 3.5 times from last year.

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Fashion and retail are ripe for disruption: The promise of generative AIĀ 

Inside Retail

It speculated that future fashion collections could be made with a creative director and an AI program to bring clothes and accessories to market faster, more efficiently and improve the CX factor as well. An article from McKinsey & Co explores this idea in some depth.

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Myerā€™s latest trading update is a testament to putting the customer first

Inside Retail

Our focus remains on seeking to drive further and sustainable cost efficiencies and inventory management,ā€ he added. King has been on a 12-month rolling contract with Myer since 2018 and has decided to retire at the end of this financial year to return home to Florida to be with his family.

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Nordstrom Issues Supplier Mandate for RFID Tagging

Retail TouchPoints

That includes a large percentage of Nordstrom’s merchandise, such as apparel, accessories, home and gift products, baby gear, shoes and some cosmetics. Products that do not yet require RFID are mostly cosmetics, along with some household products and jewelry.

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AI: How Googleā€™s try-on tech could transform online fashion

Inside Retail

In developing this technology, Google is seeking to address a number of issues related to the online shopping experience, including customer dissatisfaction with clothing fit, and significant challenges related to returns and textile waste. She believes Googleā€™s application is ā€œrevolutionaryā€ ā€“ and that it can be deployed at mass.

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5 Things to Know About Amazonā€™s New ā€˜Styleā€™ Clothing Stores

Retail TouchPoints

Amazon has announced plans for its first-ever physical fashion store ā€” dubbed Amazon Style ā€” which will feature womenā€™s and menā€™s apparel, shoes and accessories. The first Amazon Style store is set to open later this year at The Americana at Brand shopping mall in Los Angeles. ā€œWe There will be humans working the store too.

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From smart mirrors to in-car shopping: the tech shaping retailā€™s future

Inside Retail

This can be seen by the adoption of QR codes ā€“ the use of which accelerated amid Covid-19 restrictions ā€“ self checkout in supermarkets and autonomous mobile robots, which are being utilised by major retailers for (among other things) logistical, supply chain and other inventory management tasks.

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