In August, Macy’s announced that it is shutting another 100 stores. In the same month, BHS closed its last store after 88 years of trading. Though the likes of House of Fraser and Debenhams look in much better shape than this, there is no doubt that they, as well as all other department stores, are facing some major challenges. And the biggest of these is e-commerce. So what does the future hold for the department store?
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Big money from Saudi Arabia will flow into tech ventures around the globe thanks to a new partnership between the Saudi government and Japanese telecoms giant SoftBank. The aim is to create a huge capital fund of more than $100 billion (that’s three-quarters of the total global revenue raised by venture capital-backed companies in 2015!) in order to accelerate technological breakthroughs. But what are the risks?
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Even in today’s technologically advanced world, the human hand is still the best tool when it comes to creating complex clothes. Though much of the clothing production process is already automated – from picking cotton to cutting fabric – no robot has been able to carry out all of the complex tasks involved in creating, say, a simple pair of jeans or a T-shirt. Well, until now, that is.
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