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The Barneys Liquidation Sales Isn’t For Bargain Hunters (NY Times)
When the sale of Barneys was finalized last week, it was announced that financial firm B. Riley would begin the liquidation process as early as this week through private sale events. But anyone hoping to find deals on luxury goods through these sales will be disappointed. Apparently, prices are currently only discounted between 5 to 10 percent. Additionally, LVMH products aren’t being marked down at all. That said, those willing to wait may find better deals down the road as prices will continue to drop as the sale — which could extend into February “if necessary” — goes on.
The RealReal’s Shares Drop Due to Fake Products (CNBC)
Customer outrage over The RealReal’s challenges with authenticating luxury goods is beginning to effect its shares. On Tuesday, stock dropped 11 percent, trading at $19.37 per share. Customers have been complaining of receiving fakes, or mis-tagged items. It was later revealed that copywriters, rather than experts, were being tasked with authenticating some items, and were burdened with quotas.
That said, most customers still seem to love the site. Vogue Business reports that The RealReal’s third quarter revenues rose 55 percent to $80.5 million. Meanwhile, orders are up 41 percent compared to last year.
Photoshop Is Launching an App (Fast Company)
Your selfies and food pic game are about to be upped considerably as Adobe has just launched a version of Photoshop for your phone. Photoshop Camera uses AI to recognize what is happening in a photo and “highlight appropriate effects in a menu below the shutter button.” This includes everything from fun filters to sophisticated ways of adjusting the lighting and color of an image. “The core genesis was: Can we unleash creativity for everyone, not just professionals?” says Abhay Parasnis, CTO of Adobe. “If we’re going to do it, the camera is the perfect app, because capture is the new creative tool.” Photoshop Camera is currently only available through an invitation only preview program, but will publicly roll out in 2020.
Versace Merges Its Men’s and Women’s Shows
Versace is bringing its men’s and women’s collections together on their main season runway for the first time. “Today, we live in a society in which we are all talking to one another and influencing the way we look at things,” says Donatella Versace. “This has happened to me as well and this is why I felt the need to concentrate my creative focus, and design a collection with one point of view, one vision, one world of Versace. It’s not just about inclusivity and diversity, it’s about being equal, also on the runway.” The first co-ed show will take place in February during Milan Fashion Week.