Daily LInks
1. Consumers Are Spending Like It’s 2019. “Consumers still have good savings, but they are being more judicious in how they spend,” Macy’s CEO Jeff Gennette said. “More of their money is going to services and experiences.” – Read More on the WSJ
2. Can fast fashion kick its dirty habits? By 2030, the EU wants textile products imported into the market to be “long-lived and recyclable, to a great extent made of recycled fibers, free of hazardous substances and produced in respect of social rights and the environment.” – Read More on the FT
3. RELATED READ: What a New EU Human Rights Law Means for Global Companies, Their Supply Chains. The European Union will soon require thousands of large companies to actively look for and reduce human rights abuses and environmental damage in their supply chains. – Read More on TFL
4. YouTube & Universal Music Join Forces to Address AI Threat. The newly formed Music AI Incubator will explore and offer feedback on AI-related tools with the goal of getting more artists involved with the technology, Universal CEO Lucian Grange said in a blog post. – Read More on Bloomberg
5. Chanel’s Unexpected CEO Is Reinventing the Company. Nair’s ability to implement new ideas will be somewhat circumscribed by Chanel’s unwavering retail strategy. Unlike many of its competitors, the company does not sell products online, apart from eyewear and a fraction of its beauty and fragrance lines. Instead, it relies on a network of its own stores. – Read more on the WSJ
1. AI is so hot even KFC and Williams-Sonoma execs are talking about it. More than 1,000 companies mentioned the technology in their quarterly reports this summer, up from just 36 a decade ago. – Read More on the Washington Post
2. Thought You Saved $60 on That Vacuum Cleaner? Think Again. A number of large retailers face legal challenges for allegedly deceiving consumers by tagging products as being on “sale,” even though their prices weren’t always discounted. This common marketing tactic is making a comeback as struggling retailers try to appeal to price-conscious consumers. – Read More on the WSJ
3. EU monitors Myanmar labor rights as fashion brands exit. The EU is assessing human and labor rights in Myanmar, leaving the door open to a possible change to the trade preferences, including its “Everything But Arms” scheme that removes tariffs and quotas for imports of goods coming into the bloc from 47 least developed countries including Myanmar. – Read More on Reuters
4. H&M Group to reopen stores in Ukraine. H&M Group temporarily closed its stores in Ukraine as of 24 February 2022. The company has been in close dialogue with partners and authorities and is now planning to gradually reopen most of its stores in the country from November 2023. – Read More from H&M
5. FTC proposal would significantly add to M&A approval prep time. The amount of time it takes to meet pre-merger compliance requirements could skyrocket if US regulators move forward with a proposed rule that would overhaul the process. – Read More on S&P Global
6. Kohl’s Needs to Find an Identity Beyond Sephora — and Soon. Investors cheered as a key measure of profits exceeded forecasts, suggesting the company’s 2-year-old strategy of giving luxury beauty retailer Sephora space in its stores as a way of attracting shoppers is paying dividends. – Read More on Bloomberg
1. Asian garment makers call for more help from brands to adapt as Europe calls time on fast fashion. The framework proposes that by 2030, all companies selling textiles – clothes, mattresses, car upholsteries, and the like – will have to meet certain standards in order to sell their wares to customers in the EU. – Read More on Reuters
2. Google and YouTube are trying to have it both ways with AI and copyright. There’s really only one solution that the music industry — especially UMG — is going to accept here, and it’s not toothless AI councils. It’s creating a new royalty system for using artists’ voices that does not exist in current copyright law. – Read More on the Verge
3. Deepfake Imposter Scams Are Driving a New Wave of Fraud. Cloning a person’s voice is increasingly easy. Once a scammer downloads a short sample from an audio clip from someone’s social media or voicemail message—it can be as short as 30 seconds—they can use AI voice-synthesizing tools readily available online to create the content they need. – Read More on Yahoo
4. RETRO READ: How Do You Solve a Problem Like Deepfakes? The deepfake video of Kardashian “transforms [the original] substantially.” More than that, a potential fair use argument is bolstered by the fact that the less-than one minute-long deepfake video makes use of only a small portion of Vogue’s 11 minute version, and does not serve “as a replacement for the original video.” – Read More on TFL
5. Luxury goods demand is normalizing: Rolls-Royce Motor Cars CEO. “The very exuberant demand patterns for luxury goods that we have all seen right after the pandemic are normalizing. And that is not only true for the U.S. States, but also for Europe, for Asia.” – Read More on Yahoo
6. How ChatGPT turned generative AI into an “anything tool.” Until recently, AI models were specialized tools. Using AI in a particular area, like robotics, meant spending time and money creating AI models specifically and only for that area. – Read More on arstechnica
1. “In trying to slow down fast fashion, regulators should focus on overproduction.” Emissions from fashion would need to fall by 50-60% within the next seven years to stay below 1.5-degree increased warming. – Read More on Reuters
2. With TikTok and Lawsuits, Gen Z Takes on Climate Change. With active lawsuits in five states, TikTok videos that mix humor and outrage, and marches in the streets, it’s a movement that is seeking to shape policy, sway elections and shift a narrative that its proponents say too often emphasizes climate catastrophes instead of the need to make the planet healthier and cleaner. – Read More on the New York Times
3. Chinese E-Commerce Giants Pivot to Selling Inexpensive Goods. China’s biggest e-commerce firms are moving toward selling more discounted goods as Chinese shoppers increasingly hunt for bargains amid economic uncertainty. – Read More on the WSJ
4. Levi’s first-ever chief digital officer is ‘focusing on the fundamentals’ to triple e-commerce sales. “If the consumer wants to shop in the metaverse, then for sure, we’re going to test that. For right now, though, we’re focusing on the fundamentals.” – Read More on Modern Retail
5. US Consumers Are Just Bored, Not Strapped. Retailers say customers are starting to tighten the purse strings. That may be due less to shoppers feeling stretched and more to a sort of post-pandemic hangover. – Read More on Bloomberg
1. From Mad Men to machines? Big advertisers shift to AI. Companies remain wary of security and copyright risks as well as the dangers of unintended biases baked into the raw information feeding the software, meaning humans will remain part of the process for the foreseeable future. – Read More on Reuters
2. Why Every Company Needs A Chief AI Officer. Much of what the CAIO does could be seen as a subset of what the chief data officer does; however, their time is spent specifically on tasks that involve AI. – Read More on Forbes
3. Make the Collabs Stop. Collabs happen in all kinds of consumer markets, but they’re especially popular in fashion and food because they provide a little bit of novelty and hype in markets where consumers can generally be persuaded to keep buying as long as there’s a constant churn of new products. – Read More on the Atlantic
4. RETRO READ: How Many Collaborations is Too Many? Despite Off-White’s potential over-extension of itself in terms of collabs, such stories of revenue-crippling dilution might not plague – or better yet, simply might not apply to – Abloh for more reason than one. – Read More on TFL
5. Roblox faces a new class action lawsuit alleging it facilitates child gambling. The lawsuit points to third-party gambling sites that invite users to play blackjack, slots, roulette and other games of chance using Roblox’s in-game currency. – Read More on TechCrunch
1. Plant-Based Plastics Gain Favor as Companies Pursue Sustainability Goals. The environmental benefits of plant-based plastics are increasingly appealing to companies promising to use more sustainable materials by the end of the decade. – Read More on the WSJ
2. ‘New York Times’ considers legal action against OpenAI as copyright tensions swirl. Lawyers for the newspaper are exploring whether to sue OpenAI to protect the intellectual property rights associated with its reporting, according to two people with direct knowledge of the discussions. – Read More on NPR
3. How to Reinvent a Consumer Brand. “Post Malone was that real quick injection of relevance [for Crocs], and once he was on board, it allowed me to call almost any artist or any brand to collaborate.” – Read More on HBR
4. July US retail sales blow past expectations; 1 new bankruptcy. Nonstore retailers — a category that includes e-commerce, door-to-door sales and vending machines — registered one of the largest monthly increases among major retail categories, growing 1.9% over June. Clothing and accessories stores also registered a notable gain at 1.0% month over month. – Read More on S&P Global
5. Amazon settles trademark lawsuit over Fire TV with adult entertainment company after nearly 10 years. Amazon and Wreal, owners of FyreTV, are in the process of finalizing a “confidential” settlement and expect to file dismissal paperwork for the suit before the end of September. – Read More on Fortune
6. AP, other news organizations develop standards for use of artificial intelligence in newsrooms. AP is one of a handful of news organizations that are starting to set rules on how to integrate fast-developing tech tools like ChatGPT into their work. The service will couple this on Thursday with a chapter in its influential Stylebook that advises journalists how to cover the story, complete with a glossary of terminology. – Read More on the AP
1. E-Commerce Platforms Should Prep for EU VAT & Customs Changes: The European Commission recently put forward important proposals that will change the customs and value-added tax landscape. The proposals to reform the EU Customs Union will be implemented step-by-step starting in 2028. – Read More on Bloomberg
2. Foreign luxury goods makers boost partnerships with e-commerce firms to increase sales. Since Korea started moving toward an endemic phase earlier this year, sales of luxury goods at department stores and flagship boutiques have continued to decline as people spend their money elsewhere. – Read More on Korea Times
3. Google required to remove ads that violate trademarks, Indian court rules. The Delhi High Court has ruled that Google’s Ads program falls under the purview of the country’s Trademarks Act and the company must remove ads that infringe upon trademarks in a major decision that may redefine online advertising’s legal landscape. – Read More on TechCrunch
4. Watchmakers say they’re going green to appeal to Gen Z customers. In a 2022 study of the Swiss watch industry, Deloitte found that one in three millennial and generation Z respondents considered it important to own a watch, and that these groups also place value on a timepiece’s sustainability credentials. – Read More on SCMP
5. McDonald’s, Domino’s Launch Merch Collections, Will You Bite? One of the driving forces behind the popularity of quick-service-restaurants’ fashion collections is their limited-edition nature. Just like exclusive drops from luxury fashion houses, these limited-time offerings create a sense of urgency and exclusivity. – Read More on PYMNTS
6. Target, Much Like Bud Light, Is Stung by Culture Wars. For Target, the sales decline surrounding its Pride collection conflict comes as it faces already-weak demand. Earlier this year Target said sales had slowed as shoppers shifted spending away from pandemic-era favorites like patio décor and most discretionary items as prices for food rose in the midst of high inflation. – Read More on the WSJ
1. In Retail’s Top Echelons, Female C.E.O.s Lose a Bit of Ground. In recent months, major retailers like Gap, Stitch Fix, Victoria’s Secret, Kohl’s, the Vitamin Shoppe and the RealReal have appointed men to chief executive positions previously held by women. Others like Macy’s, VF Corp, and the Italian denim brand Diesel replaced men with men at the top. – Read More on the New York Times
2. How fast-growing e-commerce app Temu makes money from $10 smartwatches. Bargain e-commerce company Temu has had a whirlwind 2023. Quietly launching its app in September 2022, it only took the company a few weeks to top app store charts, edging out Amazon, Walmart and even fast-fashion brand Shein. – See More on CNBC
3. Kansas City Fashion Week sues Kansas City Fashion LLC for trademark infringement. Kansas City Fashion Week filed a federal lawsuit against Kansas City Fashion LLC, claiming that it is offering similar events using similar designers/models often in the same location and, of course, the similarity of company names. – Read More on Biz Journals (And you can find the complaint here)
4. Luxury retailers brace for rise in theft and security issues. The study surveyed senior executives at luxury retailers with a total annual turnover of $3.1bn across Asia, Africa, Europe, the US and South America. 62% expect a rise in losses to theft over the next three years while 31% predict a dramatic increase. – Read More on RIN
5. Luxury brands are poised to benefit from China’s reopening. While Ralph Lauren’s North American business slumped a dramatic 10% this quarter, sales in China climbed 50% from last year. Likewise, Burberry’s comparable sales in China rose 46% this period compared to last year, and Hermès saw a 23% sales increase in Asia “driven by a very good Chinese New Year.” – Read More on Modern Retail
6. Why fashion brands are putting celebrities in charge. “Brand ambassador relationships are more fleeting, while having celebrities as part of your organization has an implied authenticity and longevity.” – Read More on BBC
1. A Tale of 2 Brands: Macy’s Ramps Up Private Labels as Amazon Backs Away. This summer, Macy’s announced its plans to launch four private brands by the end of 2025. Meanwhile, Amazon is reducing its private-label operations, leading to the discontinuation of numerous in-house brands. The move coincides with the retail behemoth’s efforts to ward off antitrust measures, bolster earnings, and trim expenses. – Read More on PYMNTS
2. Generative AI-nxiety. There are at least four cross-industry risks that organizations need to get a handle on when it comes to generative AI: the hallucination problem, the deliberation problem, the sleazy salesperson problem, and the problem of shared responsibility. – Read More on HBR
3. Quality Control Is a Secondhand Fashion Startup’s Key to Growth. The company says it’s generating the returns needed to grow, because it accepts only bundles of at least 20 items from consignment sellers and is exacting about the condition of the garments. – Read More on Bloomberg
4. Shoppers embrace “girl math” to justify luxury purchases. While the term originated from an unflattering view of women and their finances, TikTok’s latest trend aims to reframe the narrative around luxury indulgences. – Read More on CNBC
5. “Quiet luxury” trend gets a fresh spin in China. The stealth-wealth look has come to signify a new form of status among traditionally logo-happy consumers in China. – Read More on the FT
6. How luxury watches are driving the secondhand market. In a 2023 luxury resale report, Sign of the Times estimated the luxury secondhand clothing market will grow three times faster than the global apparel market. It said luxury resale is currently worth $24 billion (€21 billion). – Read More on EuroNews
1. Why the Coach and Kors Marriage Doesn’t Scare LVMH. The combined company would still be dwarfed by European rivals and lack the high-wattage labels and diversity that have fueled LVMH’s success. The European conglomerates also benefit from deep management benches and equally deep pockets that they use to nurture and expand their brands. – Read More on the WSJ
2. Amazon Investors Sue Jeff Bezos Over ‘Massive’ Losses, Expansion. Amazon.com Inc. investors sued Jeff Bezos and other senior company leaders, claiming they exposed the e-commerce giant to a “massive financial hit” through antitrust violations and breakneck expansion that had to be scaled back. – Read More on Bloomberg
3. Record Labels Hit Internet Archive With New $400m+ Copyright Lawsuit. Record labels including UMG, Capitol and Sony have filed a copyright infringement lawsuit in the United States targeting Internet Archive and founder Brewster Kale, among others. – Read More on Torrent Freak
4. Retailers are shaping a wave of laws to crack down on organized theft. Retailers are threatening to shut down stores and raise prices if organized retail theft isn’t addressed. Nine states have passed new laws cracking down on organized retail theft and Congress is considering federal action. – Read More on CNBC
5. Amazon is dropping dozens of in-house brands you didn’t even know it owned. The retail giant plans on cutting 27 of its 30 private-label clothing brands as it looks to cut costs and stave off antitrust scrutiny. – Read More on the Verge
6. US inflation cooling as consumer prices rise moderately again. Annual consumer prices have come down from a peak of 9.1% in June 2022. The CPI increased at a 1.9% annualized rate over the last three months, the slowest pace since June 2020, from 2.7% in June. – Read More on Reuters