Daily Links

1. Russia’s McDonald’s successor applies for trademark in Kazakhstan: Vkusno & tochka, the Russian successor brand to McDonald’s has applied to have its trademarks registered in neighbouring Kazakhstan following the U.S. company’s exit from its market, the Kazakh government said. – Read More on Reuters

2. Allbirds Says eCommerce-Only Model Limits D2C Brands’ Growth Potential: “Being purely D2C can hinder long-term potential because reach is limited. Brands must meet consumers where they are.” – Read More on PYMNTS

3. How the young spend their money: They have thin wallets and expensive tastes. They prize convenience and a social conscience. They want shopping to be at once seamless and personal. They crave authenticity while being constantly immersed in an ersatz digital world. – Read More on the Economist

4. Resale value of Gucci, Chanel, Louis Vuitton handbags is falling: According to The RealReal’s Annual Luxury Consignment Report 2023, handbag resale prices fell 20% for Louis Vuitton, 17% for Gucci, 10% for Hermès and 9% for Chanel over the past 90 days. – Read More on CNN

5. Thinx settled a lawsuit over PFAS chemicals in its period underwear: Class members were notified of the settlement this week. As part of it, Thinx has committed to paying up to $5 million to provide reimbursement as well as making some changes to its marketing and production processes. – Read More on NPR

6. Fashion retailer Shein in talks to raise funds at lower valuation of $64 bln: The latest valuation would be nearly 36% less than the $100 billion the company was reportedly valued at in a funding round last year. – Read More on Reuters

1. Gen Z is driving luxury sales as wealthy shoppers get younger: “By 2030, younger generations (Generations Y, Z, and Alpha) will become the biggest buyers of luxury by far, representing 80% of global purchases.” – Read More on CNBC

2. J. Crew brand launches resale program, to offer vintage styles:  J. Crew Group said on Tuesday it had launched a new resale program for its eponymous brand, which will offer used styles online and vintage apparel in select J. Crew stores. – Read More on Reuters

3. Luxury brands are thriving despite the economy—and what that means for marketers: Luxury brands have opened themselves through new channels—including mobile, marketplaces, social shopping, and their own e-commerce businesses. This is all about meeting consumers where they are—which, for millennials and Gen Z, is in the digital world. – Read More on Fast Co.

4. U.S. Retail Sales Fell 1.1% in December: The decline in retail spending late last year adds to signs that the U.S. economy is slowing. Hiring and wage growth eased in December, U.S. commerce with the rest of the world declined significantly in November. – Read More on the WSJ

5. Richemont, Burberry optimistic about China luxury sales: “We’re very positive about the early signs and confident in the long-term opportunity” in China, said Burberry Chief Financial Officer Julie Brown. – Read More on Reuters

1. Head to Tokyo or Seoul for the Latest Gucci and Louis Vuitton: Even with China’s sudden reopening, the market is set to remain volatile: Other countries have issued visa restrictions on Chinese travelers, and luxury executives are still deciphering spending habits and the government’s drive for “common prosperity.” – Read More on the Washington Post

2. Adidas says Berlin Fashion Week launch and co-CEO announcements are fake: Several press releases allegedly sent from Adidas about a Berlin Fashion Week launch, its treatment of workers abroad and other topics related to its business structure were fake, according to the company. – Read More on CNBC

3. Netflix results, retail sales, Davos: “While consensus views a 2023 recession as inevitable, we find ourselves contemplating the old adage: ‘Never bet against the US consumer.'” – Read More on Yahoo Finance

4. Luxury giant LVMH hits 400 billion euro in market value: “They are firing their last cartridge which is the Chinese reopening, going forward things will get tougher: tough comparisons, dollar going down.” – Read More on Reuters

5. Market-leading US companies consolidate power in era of ‘superstar’ firms: The tech antitrust bill, held up by the 2022 midterm elections, is designed to stop Big Tech companies like Apple and Amazon from favoring their own services. It would represent a reversal of a long-held laissez-faire attitude of regulators. – Read More on S&P Global

6. How Retailers Can Ready Their E-Commerce for 2023 With AI: AI can be used by online retailers to meet a range of business-specific objectives, including making first-party and measurement data from across the ad stack actionable in the buying process, and boosting e-commerce conversions. – Read More on Total Retail

1. Prada’s new chief tasked with making generational shift smoother: The group is taking decisive steps towards implementing the complex succession that will eventually lead to Lorenzo Bertelli taking over from his parents, Patrizio Bertelli and Miuccia Prada, who have led the 110-year-old retailer since the late 1970s. – Read More on the FT

2. Private equity persuades Italian luxury suppliers that bigger is better: With its tradition of sophisticated craftsmanship, Italy is home to thousands of small manufacturers that cover 50-55% of the global production of luxury clothing and leather goods, Bain calculates, against 20-25% for the rest of Europe. – Read More on Reuters

3. Alibaba Seeks to Boost Sales Abroad With Buy Now, Pay Later: The payments tie-up comes at a time when Chinese e-commerce companies are looking more abroad to bolster sluggish sales growth at home. – Read More on the WSJ

4. ‘Zillennials’ With Steady Income, Few Bills Are Prime Retail Opportunity: Sandwiched between “millennials” and “Generation Zs,” this micro-demographic born between 1990 and 2000 makes up roughly 30 million consumers of true digital natives who have never known a world without the internet and mobile phone. – Read More on PYMNTS

5. Do Crypto Prices Actually Mean Anything? A regulatory framework that is purpose-built for the technology would not change the underlying incentives for reckless and fraudulent. For the crypto industry to have a positive impact on society, we need to first overhaul how it measures progress — and success. – Read More on HBR

1. How AI technology affects global fashion industry: The AI market is forecasted to generate more than $63B by 2028 and contribute $15 trillion to the global economy. By the end of 2022, 30% of all retail sales were influenced by AI recommendations. – Read More on CGTN

2. South Koreans are the world’s biggest spenders on luxury goods: Morgan Stanley estimated South Korean total spending on personal luxury goods grew 24% in 2022 to $16.8 billion, or about $325 per capita. That’s far more than the $55 and $280 per capita spent by Chinese and American nationals, respectively. – Read More on CNBC

3. Embracing digital commerce may be retailers’ best bet for staying ahead of a fast-moving industry: Though the pandemic-induced online shopping frenzy has cooled as more people venture out again, with all of the different methods out there for digital commerce, driven in large part by livestreaming and social media, it’s time to take a look at where this industry is headed. – Read More on TechCrunch

4. Put the Nepo Babies in Charge of Luxury: Young, rich and surrounded by expensive toys, they exhibit the characteristics that high-end buyers aspire to. As long as they are qualified for the job, keeping the bling kids around has merit. – Read More on Bloomberg

5. Nike CEO touts strength in Gen Z China shopper as Covid disruptions dent regional sales: CEO John Donahoe said Thursday the company is “really focused” on Gen Z consumers in China and that the athletic apparel retailer is continuing to see strong demand in the region, even amid Covid-related disruptions. – Read More on CNBC