E-commerce Heads Exit, Smartwatch Rivals, Social Media's Influence

Bits and Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.

"Net-a-Porter Founder Quits Mid-Merger With $153 Million Gain" (Bloomberg) "Net-a-Porter founder and chairman Natalie Massenet has resigned from the online fashion retailer, ahead of its planned merger with Italian rival Yoox."

"Asos Chief to Step Down 15 Years After Founding Fashion Retailer"(Bloomberg) "Asos Plc, the UK’s largest online-only fashion retailer, said chief executive officer Nick Robertson will step down, 15 years after he co-founded the business."

"Apple Smartwatch Rivals Turn Back the Fashion Clock" (The Financial Times) "Apple’s rivals in the smartwatch market have hit on a new idea to win over consumers: make devices that look like traditional timepieces."

"Should Fashion Companies Let Social Media Influence What's Hot and What's Not?" (The Independent) "'Brands need to evolve from the positive, rather than just churning out what has been popular, or the customer will get bored.'"

"Vestiaire Collective Raises $37 Million to Fund Global Expansion" (The Business of Fashion) "Luxury resale site Vestiaire Collective has raised a $37 million Series D round to ramp up global expansion."

"Obama Administration To Open Wearable Tech R&D Center In Silicon Valley"(Fast Company) "The White House and the Department of Defense are working with the private sector to build flexible, wearable electronics."