Daily Links

1. 99% of Big Fashion Brands Don’t Disclose If Workers Are Paid Living Wages: The latest index released by the nonprofit Fashion Revolution shows that 99% of major fashion brands still aren’t transparent about living wages. In the new Fashion Transparency Index 2021, the industry was also called out on its lack of disclosure over Covid-19 response and climate action. – Read More on Green Queen

2. LVMH-backed fund to buy 60% of Italian fashion label Etro, says sources: Etro said in a statement that L Catterton was taking a majority stake in the company, while the Etro family would retain “a significant minority interest”. It did not go into specifics and gave no financial details. – Read More on Reuters

3. Online Boutique Lulus Is Planning IPO at $1 Billion Value: The Chico, California-based company is working with Goldman Sachs Group Inc. and Bank of America Corp. on the planned listing, said the people who asked not to be identified discussing private information. The company could be valued at around $1 billion, the people said. – Read More on Bloomberg

4. Hong Kong should resuscitate its garment industry: Sustainability, technology and innovation are key to building a smart city. While these buzzwords appeared in Hong Kong’s latest policy address, the new initiatives were mostly concentrated in a limited number of areas, such as fintech, biotech and ecosystem integration in the Greater Bay Area. – Read More on SCMP

5. Authentication startup Ennoventure raises $5 million: Ennoventure, a US-Indian company that provides tech to track and trace products and authenticate products, has raised $5m in first-round funding from Fenice Investment Group. – Read More on Securing Industry

1. Richemont Set for Strong Q1 Sales as Hard Luxury Leads the Charge: Cartier owner Compagnie Financiere Richemont SA is scheduled to report revenue results for the first quarter of its fiscal year to June 30. The Swiss luxury-goods giant is forecast to book sales of 4.11 billion euros ($4.87 billion) for the quarter, according to a consensus of seven analysts. – Read More on MarketWatch

2. New York’s retail rents set another record low: Leasing velocity has now decelerated for eight consecutive quarters, according to CBRE’s tracking of 16 major retail corridors in Manhattan. The number of direct, ground-floor availabilities increased to 290 during the second quarter, from 275 locations in the prior period. This marks a record-high availability of retail space. – Read More on CNBC

3. The fashion industry can’t allow this life-saving legislation to expire: Despite the previous extensions of the Bangladesh Accord, brands are now dragging their feet on a further renewal. Out of over 200 signatories, only five have committed to extending and, importantly, expanding the accord: ASOS, G-Star, Tchibo, KiK, and Zeeman. – Read More on Dazed

4. RELATED READ: 8 Years After the Rana Plaza Tragedy, What Has Changed for Bangladesh’s Garment Workers? The industry vowed to do better. Within a month, 222 companies signed the Accord on Fire and Building Safety in Bangladesh, a legally binding agreement meant to ensure garment workers had safe workplaces. And while, things have improved, they have not improved enough. Eight years on, the fundamental problems in global supply chains – the disconnect between profits, accountability and responsibility – remains. – Read More on TFL

5. Sony Music sues Gymshark for misusing ‘hundreds’ of songs in ads: Sony Music accused British fitness apparel startup Gymshark of infringing its copyrights by misusing music from some of its most popular artists — including Beyonce, Britney Spears, Travis Scott, and Harry Styles — in social media ads, in a lawsuit filed in California federal court on Thursday. – Read More on Reuters

1. Are your favorite fashion brands using forced labor? By continually demanding shorter turnaround times and lower prices from their suppliers and fueling competition among supplier factories, fashion and retail brands make it difficult for factory owners to adhere to labor laws and standards. – Read More on Al Jazeera

2. More hours, less money: Garment workers hit by COVID-19 rights rollback. “Wage theft is intrinsic to the business model of global fashion brands, and it has been exacerbated by the pandemic,” said Anannya Bhattacharjee, international coordinator with Asia Floor Wage Alliance (AFWA), which represents garment workers. – Read More on Reuters

3. U.S. Business Groups Urge Trade Chief to Forgo Vietnam Tariffs: The U.S.’s biggest business organizations in areas from food to fashion asked the nation’s trade chief to refrain from resorting to tariffs as a remedy in its trade disputes with Vietnam. – Read More on Bloomberg

4. Gaming is entering its fashion-forward phase: Riot is folding high fashion into its mainstream marketing to appeal to the players that want something more from the developer’s virtual worlds. “We really do see League as not just a game anymore, I think it’s become a lifestyle for our fans.” – Read More on Washington Post

5. Bloomingdale’s New Bloomie’s Store Model Charts the Future of Multi-Brand Luxury Retail: More than relevancy, it brings a new intimacy between customers and the brand. “A smaller-format footprint, like Bloomie’s, with its highly-curated, lighter but still commercial-touch, can really work.” – Read More on Forbes

1. Your Brand Has Never Been Easier to Destroy: Whereas hatejacking poses an acute reputational threat, brands also risk slow-burn displacement when adopted by the “wrong class” of mainstream consumer. The posterchild for such déclasséfication is the British fashion label Burberry which, in the early 2000s, found its trademark check overwhelmed by fakes and overtaken by “chavs.” – Read More on Bloomberg

2. RETRO READ: Unwanted Associations – Protecting Brand Reputation and GoodwillFred Perry’s decision to pull the shirts co-opted by Proud Boys from sale in the U.S. speaks volumes about the challenges facing brands in the online world, including the threat to brand reputations. After all, there is a real risk of damage to brand equity following association with consumers that do not share the same principles or ethos. – Read More on TFL

3. Fashion collaborations drive the metaverse: Meet Rook Vanguard, the Roblox creator behind the Gucci Garden. Like many artists and digital fashion designers, Vanguard thinks fashion and art are primed for virtual augmentation. “I imagine putting on a pair of AR glasses and being amused by seeing someone’s animated graphic t-shirt, and then again by someone else with hummingbirds dancing rhythmically around them.” – Read More on Forbes

4. Despite mostly being known for their capacity as works of art, NFTs could also add value to everyday items. Essentially digital certificates of authenticity powered by blockchain technology, NFTs could also serve this purpose for retail goods. – Read More on Yahoo

5. Top US companies pledge to cut emissions, but most don’t push for climate action: Although 50 of the largest 96 corporations in the U.S. now publicly support the Paris Agreement on climate change, only 40% of those 50 companies have actively been lobbying lawmakers on the importance of science-based climate policies over the past five years, a new analysis by Ceres found. – Read More on S&P Global

1. As Gap-Kanye West Pairing Turns One, Slow Pace of Yeezy Drops Stokes Concerns: As part of a 5-year (extendable to 10 years) partnership with the Gap, deadlines will be important, as having enough unique and affordable Yeezy wear available will be critical if the partnership is going to pay off the way Gap is hoping and analysis are forecasting. The puffy coats are a good start. – Read More on PYMNTS

2. From Aerie to Zara, retailers are turning viral TikTok moments into sales gold: It used to be a trip around the mall with friends, but many teens today are scouring TikTok for inspiration. Tethered to their phones, this generation spends an average of 12 hours on social media apps per week. They desire authenticity and individualism, with clothing serving as a key form of self-expression. – Read More on CNBC

3. China’s Shein has taken the womenswear world by storm. Now what? Shein’s app has overtaken that of Amazon.com as the most downloaded shopping app in monthly U.S. rankings. According to research company Similarweb, Shein’s website now gets more visits than any other clothing brand or retailer in the world. – Read More on Nikkei

4. RELATED READ: From Dr Martens to Ralph Lauren, Lawsuits Are Starting to Build for $15 Billion Ultra-Fast Fashion Brand Shein. Beyond its sheer size and ever-growing popularity, Shein is a sticking point for brands because of how “quickly [it can] turn emerging fashion trends into extremely cheap products” thanks, in large part, to its use of data analytics. – Read More on TFL

5. Alibaba, JD, Pinduoduo: A Deep Dive into China’s E-Commerce Sector. The e-commerce space in China can be particularly confusing because unlike in the USA where Amazon is dominant, China’s e-commerce sector is more fragmented. Since Alibaba owns both Taobao and Tmall, it’s shown that the combination of Alibaba, JD, and Pinduoduo made up 42% of global commerce in October 2020, but no single marketplace accounted for more than 15%. – Read More on Seeking Alpha

6. Reassuringly expensive: Top fashion labels bid to lure elite back. While that may be the hard-nosed luxury business rationale, one of the realities of the creative end is to act against decades of mass market luxury, with brands wanting to become more exclusive, rarefied and expensive enough to bear the additional costs of craftsmanship and sustainability. – Read More on the Guardian