Daily LInks
1. How Puma Is Taking On Nike And Adidas At Copa America. Puma is making a bold move to challenge Nike and Adidas in football by becoming the official ball sponsor of Copa America 2024, and despite only sponsoring one national team in the tournament, it is leveraging its historical ties with legendary players and focusing on innovative ball technology to gain visibility and market share. – Read More on The Athletic
2. UK Retail Sales Go Into Reverse This Month, Survey Shows. UK retail sales volumes fell in June 2024, marking the third consecutive month of decline as high inflation continues to strain household budgets and retailers expect this trend to persist into July. – Read More on Reuters
3. Under Armour Settles Accounting Practices Suit For $434 Million. Under Armour has agreed to pay $434 million to settle a class action lawsuit concerning allegations that the company misrepresented its financial results and consumer demand between 2015 and 2019; the settlement also includes changes to corporate governance without an admission of wrongdoing. – Read More on Retail Touch Points
4. Can Artificial Intelligence Predict Fashion Trends? Artificial intelligence is transforming fashion trend prediction by analyzing vast data from various sources and enabling accurate forecasts and personalized recommendations, although challenges like data quality and the need for human intuition persist. – Read More on Analytics Insight
5. Temu Is A ‘Data-Theft Business,’ Arkansas Attorney General Says In Lawsuit. Arkansas Attorney General Tim Griffin has filed a consumer protection lawsuit against fast fashion giant Temu accusing it of being a data-theft business that improperly collects users’ personal information, with Temu denying the allegations and asserting they are based on misinformation. – Read More on Fashion Dive
6. Millennials’ Fast-Fashion Favorite Forever 21 Can’t Keep Up With Shein’s Meteoric Rise. Forever 21 faces financial struggles and increasing competition from e-commerce giants like Shein, which has impacted its ability to sustain operations despite attempts at collaboration and rent reductions. – Read More on Fortune
