Coats Digital has announced Kunal Kapur as its new managing director. He was appointed on January 1, 2023, by Coats Group, an industrial thread manufacturer, to captain the helm at Coats Digital—a technology business that optimises the digital transformation of the fashion industry. Kapur has extensive experience in the apparel and footwear industry.
AI can be used to enhance the metaverse experience for users in various ways, according to Global metaverse company Trace Network Labs. By examining real-world examples such as Buddy, the digital avatar, and MetaStore, the virtual showroom and store, the company has explained the various ways in which AI can augment the metaverse experience for users.
PTTRNS.ai, a Dutch 3D and AI firm that specialises in digitalising and personalising the fashion industry, has announced a successful seed round of funding, securing €2 million. The company, with this latest investment from the EVCF II Growth Capital fund, plans to scale up and continue to develop its AI personalisation and 3D visualisation technology.
French technology company Lectra has reported a 35-per cent increase in its revenue to €521.9 million in financial year 2022 (FY22). The company’s EBITDA before non-recurring items increased by 51 per cent to €98.4 million compared to FY21. Income from operations before non-recurring items was up by 54 per cent year-on-year (YoY) to €68.5 million in FY22.
1MetaWorld has entered into a joint venture agreement with Fame Universe to support fashion designers and digital creators to create, launch, sell, and produce digital fashion NFTs in connection with physical garments and real-world experiences. The 1Fame venture seeks to support the fashion industry’s fight against counterfeiting with Web3 innovation.