Apple Unveils New VR Headset; SHEIN Launches ESG-Focused Roadmap

In today's ExchangeWire news digest: Apple reveals its news VR headset; SHEIN launches a new ESG focused framework; and security firm De.Fi reports crypto investors lost millions to scams.

Apple announces new VR headset

Apple has revealed its new virtual reality headset, its first major product in almost a decade. The headset, which has been in development for seven years, is intended to overlay virtual reality experiences and digital apps onto the real world. The headset could reignite interest in VR development, which has cooled in recent months.

SHEIN launches evoluSHEIn roadmap

Fast-fashion giant SHEIN has turned its focus to sustainability by launching evoluSHEIN. The roadmap outlines nine key priorities for the company to operate in line with international social and environmental frameworks. Adam Whinston, SHEIN’s global head of ESG, stated that the roadmap “builds on our existing programs and initiatives across our value chain”.

De.Fi reports millions lost to crypto scams

Security firm De.Fi has reported that a wave of scams last month cost crypto investors over USD$54m (~£43.3m). The amount is almost half of the USD$101.5m (~£81.4m) reported for April, suggesting security measures amongst developers have improved, however no funds have been recovered for in May this year. Ten cases across the BNB Chain ecosystem resulted in losses over USD$37m (~£29.7m), while Ethereum-based projects saw relatively modest losses of USD$2m (~£1.6m).

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Fact of the Day

+50% – the amount of SHEIN's customer base who are Gen Z.

Source: Bloomberg