Bits & Bytes | Farfetch Files for IPO, Walmart Bets on VR | Bits & Bytes

Farfetch Files for IPO, Testing Investors’ Appetite for Luxury (The Business of Fashion)
“The company said it plans to raise $100 million, a figure that typically acts as a placeholder when registering for an IPO. The number of shares to be offered — under the ticker ‘FTCH’ — and the price range for the proposed offering have not yet been determined.”

Walmart Patent Filings Hint at VR Shopping Experience (Retail Dive)
“The filings show that VR is very much on Walmart’s mind, as well as that some in the company are envisioning a possible future in which VR becomes the basis for the entire shopping experience. The technology also is very much on the mind of Walmart’s competitors and the retail sector at large.”

Threads Raises $20 Million for Its Luxury Goods ’Boutique’ That Exists Only in Messaging Apps (TechCrunch)
“It has raised $20 million in funding for an operation that courts customers with luxury fashion, which it then sells to them on services like WeChat, WhatsApp, Snapchat, Instagram and Apple’s iMessage for their primary interactions with a team of human (not AI) shopping assistants.”

How Luxury Brands Can Best Showcase Themselves Through a Chinese Website (Jing Daily)
“When marketing luxury products to Chinese digital consumers, visual appeal is everything. Inspirational website content enhances a strong emotional connection to Chinese audiences. Given that 95 percent of all internet users in China are on mobile, having a mobile responsive website is fundamental.”

The High-Tech Future of Fashion Manufacturing (Quartz)
“For decades, the fashion industry has relied on cheap, manual labour to do just about every job. But it’s entering a period of radical change, when future-minded brands are turning to technology to drastically speed up how they make clothes.”

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