Daily Links

1. Have Your Privacy Policies Kept Up with Your Digital Transformation? For every business that shifts operations online, there are potential privacy pitfalls that will prove very damaging if mismanaged, and as new regulations are set to go into force in the United States, the stakes for getting this pivot right are higher than ever before. – Read More on HBR

2. Pandemic Continues to Dull Allure of Luxury Goods: The pandemic is likely to hit demand for luxury goods hard, with tourism expected to be in a downturn for some time and the Chinese economy having slowed after driving substantial growth in recent years. Spending in Asia-Pacific on luxury goods is set to contract by 3.4 percent this year, a fall of $2.1 billion compared to 2019. – Read More on PYMNTS

3. Retailers are holding 2020 fashion for 2021 to avoid discounts: On a call with investors, John Idol, CEO of Capri Holdings, which owns Michael Kors, Versace, and Jimmy Choo, said that’s the route the company will take with much of its summer inventory, which never even made it to stores. “We’re repurposing that for spring season next year.” – Read More on Quartz

4. In Fashion, Who Will Cancel the Cancelers? “We’ve moved past Diet Prada because no one holds Diet Prada accountable. DP is able to have ‘Black Lives Matter’ in their bio and at the same time uphold tokenism in the industry. You can’t do both. Where is the credibility in that?” – Read More on GQ

5. RETRO READ: Meet Tony Liu and Lindsey Schuyler, the Duo Behind Diet Prada. As for whether their budding new friendships with brands – do not overlook the current season Prada looks that they are wearing in some of their personal Instagram photos; gifts from the brand, of course – will impact the objectivity of their content, that is to be seen. It is womicharth noting, though, that the two have been clear in their desire to be fashion industry insiders, telling The Cut, for instance, that they want a spot on Business of Fashion’s BoF 500 list. – Read More on TFL

6. Your business can’t beat Amazon—but there’s still a way to coexist: If you want to succeed in retail these days, your only course of action is to figure out something that Amazon can’t do that you can do in a more frictionless, designed, aspirational, and brand-worthy way. That’s what CEO Niraj Shah did with online retailer Wayfair: he figured out frictionless in a big enough category—furniture—that it actually mattered. – Read More on Fast Co.

1. ‘Discounting Is Not a Luxury Strategy’—The Voices Behind an Open Letter to Retail Address Fashion’s Full Price Future: After a summer of 80 percent off markdowns, customers will expect those prices as the new normal. For a vast majority of middle-class shoppers, buying a $1,590 dress is just out of the question—especially after it has been devalued to $477 over the course of a three-month sale period. – Read More on Vogue

2. Here’s why the biggest U.S. mall owner might want to buy JC Penney: Simon Property Group might want to own bankrupt J.C. Penney in order to be able to redevelop some of its best real estate and make it even better, according to one analyst. Simon, the biggest mall owner in the country, has a Penney store in about 50% of its U.S. malls is estimated to be worth more than $1 billion. – Read More on CNBC

3. Lululemon’s $500 Million Purchase of Home-Fitness Company Mirror Makes Sense, Especially in COVID Era: The deal is a worthwhile way for Lululemon to test its ability to move beyond its core retailing expertise. It is also compelling, as the pandemic has pushed legions of consumers to explore at-home exercise, and as a way for cross-promotional sales. – Read More on Bloomberg

4. What Gwyneth Paltrow Learned While Building Goop Into a $250 Million Global Brand: “I think women in particular have a harder time being direct. A lot of women have feelings about being nice and not hurting anybody’s feelings. There are ways to communicate where you can be incredibly direct and incredibly kind and supportive.” – Read More on CO

5. RETRO READ: Goop Built a $250 Million Wellness Empire But Do its Claims Add Up? “Truth has become, in essence, anything that makes us feel good about ourselves.” That shift, paired with the fact that “brands, more than any established mainstream systems, are rapidly becoming a consumer’s north star for truth,” meant that it is the perfect time “for the wellness industrial complex to flourish.” – Read More on TFL

1. Men’s Makeup Goes Mainstream With CVS Rollout: On the heels of Chanel introducing a makeup line for men back in 2018, America’s largest drugstore chain CVS is adding cosmetics made specifically for guys to go after a budding “growth industry.”  U.S. men’s grooming and skincare market is valued at $9.3 billion. – Read More on Bloomberg

2. Target CEO Talks About Protests, the Pandemic and Permanent Shifts in Retail: “Long-range planning at Target used to mean thinking three-to-five years in advance. Now, Cornell said, that horizon has shrunk to four weeks, with adjustments needed daily.” – Read More on Co.

3. Why Common Pricing Errors Cost Luxury Brands their Future:  If the most expensive and most value creating brand in the world – i.e., Bugatti – is potentially priced too cheaply, then many other luxury brands may also suffer from this predicament. In other words, many luxury brands may opt out of significant profits by not realizing their pricing potential. – Read More on Jing

4. The Fashion Industry Is Very White. These Three Designers Know That All Too Well: Because Black people are underrepresented across the fashion industry, independent Black designers say the hurdles are much more daunting. “There’s not a lot of Black African Americans in a lot of these rooms in positions of power.” – Read More on WSJ

5. A tech lifeline for events in Africa’s $31 billion fashion industry: Like Congolese designer Anifa Mvuemba, who sent mesmerizing 3D models down a virtual runway to an audience of millions on Instagram, designers across the continent have taken to social media and video streaming to continue to unveil new collections mostly via lookbooks and virtual runway shows from Ghana to South Africa, and Nigeria. – Read More on Techcabal

1. Coty to buy 20% stake in Kim Kardashian West’s beauty line: Coty Inc has agreed to buy a 20 percent stake in reality TV star Kim Kardashian West’s makeup brand KKW for $200 million. The deal values West’s cosmetics company at $1 billion, slightly lower than the $1.2 billion valuation Coty put on West’s half-sister Kylie Jenner’s business. – Read More on Reuters

2. RELATED READ: Kim Kardashian’s KKW Beauty is Being Sued Over Trade Secrets in Light of Impending Coty “Collab.”Kardashian’s brand is being sued by a former partner in an attempt to prevent the mega-star from sharing “highly sensitive and confidential trade secret information” with Coty, and thereby, threatening to cause “irreparable harm” to the California-based company that helped Kardashian to launch KKW back in 2017.  – Read More on TFL

3. Business of Fashion founder Imran Amed has won friends and influenced an industry, but his website is drawing flak for alleged conflicts of interest: Analyst, Flavio Cereda at Jefferies, said: “A lot of it is borderline paid content — there’s a conflict of interests with their shareholders.” The claims provide a snapshot of how difficult it can be to build an independent media outlet from scratch in an interconnected industry. – Read More on the Times

4. How swimwear brands market themselves during a vacation-less summer: Summer leisure brands had to quickly change their marketing, and some saw positive results. Despite many canceled vacations and closed public pools across the country, swimwear brands are seeing seasonal surges  — and a change in marketing helps explain why. – Read More on Modern Retail

5. Total Exposure With Mowalola Ogunlesi … The Nigerian-British Designer (and Newly-Appointed Yeezy Gap Design Director) Is Making Clothes For The World She Wants To Live In: “When I work with someone and it’s a proper collaboration, I get so much joy out of it. It’s really important to have more control about how your story is told. I don’t give my clothes to just anyone. I’m not that bothered about being in magazines. You have to be selective. It’s your art, it’s your baby, don’t just give it to anyone. It’s special. Everything doesn’t need to be for everyone.” – Read More on SSENSE

6. LVMH-backed Australian swimsuit brand in administration due to virus: Seafolly Pty Ltd, an Australian swimsuit maker part-owned by French fashion giant LVMH Moet Hennessy Louis Vuitton appointed administrators on Monday citing a sales downturn from the coronavirus, the latest casualty of the health crisis in the country’s retail sector. – Read More on Reuters

1. Former Everlane employees have banded together to speak out about the company’s culture: The claims from past corporate and retail employees are especially significant given Everlane’s longstanding value-driven marketing. The direct-to-consumer brand found success selling its basics to the masses while touting transparent material sourcing and ethically-run factories. – Read More on Modern Retail

2. Retailers Face a Data Deficit in the Wake of the Pandemic: The flow of sales information to retailers’ data repositories has dried up. That’s a significant problem, because a healthy flow of that information is the lifeblood of customer loyalty programs, AI-driven product recommendations, and a wide array of critical business decisions. – Read More on HBR

3. Italy’s artisans anxious as brands haggle to bridge luxury gap: Italy accounts for around 40% of global luxury goods manufacturing and has been hit hard by a dramatic drop in demand triggered by the coronavirus crisis, with several artisans saying they have no new orders beyond the summer. – Read More on Reuters

4. Hermès Handbags Pass an Early COVID Test: Hermès is the only company whose handbags are more expensive to buy used than new. Supply of its two most popular bags, the Birkin and Kelly, is tightly restricted in boutiques. That forces shoppers into a thriving resale market where they can expect to pay 50% to 100% premiums over store prices for rare colors. – Read More on WSJ

5. RETRO READ: Are Birkin Bags Really a Better Investment than Stocks and Gold? One Company is Actively Testing That Theory. “In the event of an economic downturn, fine watches may turn out to represent a safe-haven asset, like metals or gems, for investors looking to diversify their portfolios.” The same goes for Hermès bags. – Read More on TFL

6. A lot of brands taking a more narrow focus amid pandemic, retail analyst says: Nike plans to emerge from COVID with a smaller footprint in terms of brick-and-mortar stores. – See More on CNBC