Daily LInks
1. Chanel boss seeks to put IPO rumors ‘to rest.” Nair said Chanel was “continuing to look at” opportunities to further consolidate its supply chain. The company acquired more than two dozen suppliers in 2021, part of a $1.1bn investment in technology, property and manufacturing. – Read More on the FT
2. SEC climate disclosure rule delayed until fall, former commissioner says: The proposed SEC rule, unveiled in March 2022, would require publicly traded companies to disclose their greenhouse gas emissions and any climate-related risks to their operations. – Read More on S&P Global
3. The lucrative clothing deals agreed upon by the US and Kenyan governments: Six new co-investments totaling $55 in the clothing industry have been agreed upon by Kenya and the US, bringing the total number of agreements secured in the past month to 20. – Read More on Insider Intelligence
4. The Shining Promise and Dashed Dreams of China’s Live Shopping Craze: The Chinese government, worried that the business was growing too big, too fast, has issued a flood of ever-evolving regulations. Celebrity hosts have abruptly disappeared from view. – Read More on the NYTimes
5. China’s online sellers are revolting against a barrage of refunds: Merchants have banded together to push back in creative ways that include suing buyers and “store-bombing” Pinduoduo-backed businesses with comments and refund requests. – Read More on Rest of World
6. Retailers are using ChatGPT to help people pick what to buy: “What makes ChatGPT unique as opposed to the existing chatbots that we have in retail at the moment is that it’s much more conversational in tone and it can remember the context.” – Read More on Modern Retail
1. Gucci’s Decline Shows Just How Dependent Luxury Is on China: On Tuesday, Kering SA, the owner of Gucci, reminded investors that not all luxury companies would share equally in China’s latest wave of revenge spending. – Read More on Bloomberg
2. Will the extraordinary boom in luxury goods ever end? With fears of a global recession lingering, can the sector’s growth continue undaunted? It all hangs on the US and China, the twin growth engines of luxury and its biggest consumer markets. – Read More on the FT
3. eBay Expands Luxury Offering with New Brand Platform: eBay announces the launch of its new Certified by Brand program, partnering directly with brands to scale their presence in the secondary market, while providing shoppers access to a wider selection of coveted and collectible luxury goods. – Read More from eBay
4. Gen Z Shoppers Knowingly Buy Fakes to Save Money: Younger consumers are bringing about a trend of showing off products that look more costly than they really, which is being called “frugal flexing,” and buying knock-offs — and showing them off — is part of it. – Read More on PYMNTS
5. RETRO READ: Searches for “Replicas” Are Down Thanks to the Rise of the Dupe. The use of the term “dupe” in this context is almost always inaccurate, as the items are not actually “dupes,” a term that it traditionally used to refer to legally above-board products that take inspiration from other, existing (and often much more expensive) products. – Read More on TFL
6. Russia revives fried chicken chain Rostic’s after KFC owner leaves: The revamp mirrors that of former McDonald’s restaurants, but while McDonald’s imposed stringent restrictions on the use of its brand and products, KFC will linger as franchisees with existing agreements can remain open. – Read More on Reuters
1. A tale of two retail tiers: How luxury, discount retailers approach TikTok, physical stores, and resale: US resale volume will reach $110.92 billion this year, a 7.6% increase YoY, driven by increasing adoption among both consumers and retailers. As consumers balance the cost of necessities with the desire to splurge, secondhand luxury is a sweet spot. – Read More on Insider Intelligence
2. SPACs Delivered Easy Money, but Now Companies Are Running Out: SPAC deals were supposed to provide a big lift for young companies, giving them cash and a stock-market listing. Instead, they put them under pressure to deliver and left them vulnerable to rising interest rates and the vagaries of public markets. – Read More on the WSJ
3. RETRO READ: As Lanvin Prepares to Go Public, What Boards Considering SPACs Should Know. SPAC-centric litigation has come into fruition by way of “a substantial number of lawsuits” that have been filed by SPAC shareholders, who are “contesting the terms of – or disclosures surrounding – de-SPAC merger transactions.” – Read More on TFL
4. U.S. adds Belarus, Bulgaria to intellectual property watch list: The report now lists 29 countries on its watch list or priority watch list for deficiencies and violations of IP rights. Seven countries are currently on this year’s priority watch list: China, Chile, Argentina, India, Indonesia, Russia and Venezuela. – Read More on Yahoo
5. Sephora, H&M Sustainability Programs Bet on In-Store Traffic and Sales: While Sephora and H&M are just two of the biggest names in the retail industry, they’re also at the forefront of sustainability initiatives which are not only aligning with customer values but they’re also driving customers back in-store. – Read More on PYMNTS
6. Consumer Firms Keep Prices High: “There are some signs that they are moderating at least how often they’re taking these price increases. Last year, companies were taking half a dozen price increases and I think a lot of companies don’t want to do that again.” – Read More on the WSJ
1. Why China’s luxury market is stronger than ever after Covid-19 pandemic: The mainland’s share of Chinese luxury purchases surged from a third in 2019 to more than 90 per cent in 2021. The repatriation of spending has led to far-reaching changes in shopping behavior and preferences. – Read More on SCMP
2. Climate-Disclosure Rules Are Coming. Here’s How Companies Are Adapting: Mr. Gensler said “hundreds of companies today are already making climate-risk disclosures” because many investors want them. The SEC’s goal is to make such information more consistent and comparable, he said. – Read More on the WSJ
3. Klarna Unveils AI-Powered Shopping Feed: The feed is powered by Klarna’s in-house AI product recommendation engine, giving users a “feed of highly personalized product recommendations” that becomes tailored to them as it learns more about consumers’ preferences. – Read More on PYMNTS
4. “GPT” may be trademarked soon if OpenAI has its way: Little wonder that after applying in late December for a trademark for “GPT,” which stands for “Generative Pre-trained Transformer,” OpenAI last month petitioned the USPTO to speed up the process, citing the “myriad infringements and counterfeit apps” beginning to spring into existence. – Read More on TechCrunch
5. H&R Block settles trademark lawsuit against Block over name change: Tax-preparation giant H&R Block Inc and Block Inc, the company formerly known as Square, have jointly agreed to dismiss H&R Block’s lawsuit over Block’s name change, according to a Friday filing in Missouri federal court. – Read More on Yahoo
6. Consumer protection bodies urged to investigate ChatGPT, others: The European Consumer Organisation (BEUC) has joined the chorus of concern about ChatGPT and other artificial intelligence chatbots, calling on EU consumer protection agencies to investigate the technology and the potential harm to individuals. – Read More on Reuters
1. Retailers to tackle sustainability at key conference: Executives from companies including Chinese fast-fashion retailer Shein, Spain’s Mango, and Ireland’s Primark are among those attending the World Retail Congress, one of the industry’s biggest annual conferences. – Read More on Reuters
2. French Luxury Giant LVMH Touches $500 Billion in Value: Europe’s most valuable company, Paris-based LVMH Moët Hennessy Louis Vuitton, is poised to join a very exclusive club. Its shares reached a new record high Monday, briefly lifting its intraday market value above $500 billion at current exchange rates. – Read More on the WSJ
3. RELATED READ: LVMH: A Timeline Behind the Building of the World’s Most Valuable Luxury Goods Conglomerate. Arnault has spent billions (and billions) of dollars and worked doggedly to amass no less than 70 luxury brands under the umbrella of the group that is now coined LVMH Moet Hennessey Louis Vuitton. – Read More on TFL
4. How A.I.-powered robots are changing retail: “Retailers are spending a lot of money to know what’s coming into their stores through their inventory systems and through their point of sale systems.” – Read More on CNBC
5. US Supreme Court rejects computer scientist’s lawsuit over AI-generated inventions: The U.S. Supreme Court on Monday declined to hear a challenge by computer scientist Stephen Thaler to the U.S. Patent and Trademark Office’s refusal to issue patents for inventions his artificial intelligence system created. – Read More on Yahoo
6. Apple Largely Prevails in Appeal of Epic Games’ App Store Suit: The U.S. Court of Appeals for the Ninth Circuit held that Apple’s tight control of its App Store did not violate federal antitrust law. Some app developers have said the multibillion-dollar business’s strict policies stifle competition and eat into their profits. – Read More on the New York Times
1. The wave of lawsuits that could kill social networks: Large platforms face several legal challenges in the United States accusing them of knowingly harming the mental health of young people. – Read More on El Pais
2. The Secret History of AI, and a Hint at What’s Next: Generate AI is being integrated into search and productivity tools from Microsoft, Google, and countless startups in every field imaginable, from healthcare and logistics to tax prep and videogames. – Read More on the WSJ
3. Tiffany’s Cathedral of Consumerism Will Shine Beyond New York: The reopening of the jeweler’s flagship New York store next week is an opportunity for owner LVMH to advertise its ambition to increase global sales.– Read More on Bloomberg
4. RELATED READ: From Tiffany & Co. to Daniel Roth: A Hard Luxury Push is Underway at LVMH. LVMH has embarked on a sweeping revamp of iconic jewelry brand, complete with an aggressive attempt to lure millennials by way of buzzy marketing and new offerings, including a bracelet, the Lock, that is being positioned to compete with Cartier’s much-coveted Love bracelet. – Read More on TFL
5. First-ever A.I. Fashion Week debuts in NYC: Hundreds of collections were submitted to the first-ever A.I. Fashion Week in New York City from designers around the world. – Read More on NBC
6. Luxury Goods in the Middle East: A s luxury sales growth slows elsewhere, high-end brands will turn to the untapped potential of emerging markets like the Middle East. The luxury sector can hasten the process by targeting the region’s more diverse and digitally connected global consumer base. – Read More on Insider
7. Luxury brands Coach, Gucci reap windfall in China from pandemic investments in digital sales and marketing: Creation of WeChat mini-programs, flagship stores on e-commerce platforms and presence on social-media networks like Douyin are paying off, analysts say. – Read More on SCMP
1. Can Coach Get Shoppers to Buy Bags Made from Waste Scraps? This week, the company introduced Coachtopia, a line that offers apparel and accessories made primarily with waste leather sourced from India and Vietnam or partly recycled materials like cotton, resin or polyester. – Read More on the New York Times
2. AI Drake just set an impossible legal trap for Google: “Whether or not the video was generated using artificial intelligence does not impact our legal responsibility to provide a pathway for rightsholders to remove content that allegedly infringes their copyrighted expression.” – Read More on the Verge
3. Amazon Announces Anti-Counterfeiting Exchange to Help Eliminate Counterfeits Across the Retail Industry: ACX allows participating stores to share information about confirmed counterfeiters who attempted to use their services to try to sell counterfeit products. – Read More from Amazon
4. Large, creative AI models will transform lives and labor markets: The contemporary explosion of the capabilities of ai software began in the early 2010s, when a software technique called “deep learning” became popular. – Read More on the Economist
5. How Generative AI Could Disrupt Creative Work: Here are non-exclusive scenarios for this disruption of content creation: 1) people use AI to augment their work, leading to greater productivity, 2) generative AI creates a flood of cheap content that drives out human creatives, and 3) human-made creative work demands a premium. – Read More on HBR
6. Italy’s Prada to invest 60 mln euros to help boost production capacity: Prada, in common with other luxury groups, is investing to enhance its production capacity and strengthen its grip on the supply chain. – Read More on Reuters
1. Secondhand Fashion Has a Looming PFAS Problem: There is a loophole for the continued sale and circulation of existing PFAS-made products in secondhand markets, at a time when buying used is only getting more popular. – Read More on Bloomberg
2. Lidl wins trademark lawsuit against Tesco over discount scheme logo: Lidl sued Tesco in 2020 shortly after Tesco adopted a yellow circle against a blue background to promote its “Clubcard Prices” discount scheme. – Read More on Reuters
3. Lawmakers Look for Tough Implementation of Forced Labor Law Targeting China: The hearing followed U.S. Customs reporting it has stopped nearly $1.1B in goods with possible links to Xinjiang, home to China’s Uyghur people and other minority groups, under the Uyghur Forced Labor Prevention Act. – Read More on the WSJ
4. RELATED READ: As Uyghur Forced Labor Law Takes Effect, What is the Impact for Brands? From a purely-cotton-perspective, the potential impact of law is striking. The U.S. imported about $9 billion worth of cotton goods from in 2020. – Read More on TFL
5. Reporting Cyberattacks Will Soon Be Mandatory: While the details vary, these requirements are intended to increase the government’s visibility regarding the scope, scale, and intensity of malicious cyber activity in their countries. – Read More on HBR
6. Zalando to Add ChatGPT-Powered Fashion Assistant to Online Platform: By leveraging AI technologies to provide personalized product recommendations, virtual try-ons, chatbots for customer service & predictive analytics for inventory management, merchants can create personalized shopping experiences, increase customer purchase intent and minimize the risk of returns. – Read More on PYMNTS
1. Fast Fashion Could Be New Front in U.S.-China Tussle. Why Scrutiny of Shein, Temu Could Intensify. Fast fashion could be another flashpoint in the worsening U.S.-China battle as the popularity of China’s Shein, one of the world’s largest online retailers, and newcomer Temu draw increased scrutiny in the U.S. – Read More on Barron’s
2. New U.S. Employment Regulations That Companies Should Prepare for Now: In 2023, company leaders will have to address new regulations and laws in three areas — noncompete clauses, pay transparency, and human capital disclosures — that have far-reaching implications that company leaders may not have fully grasped. – Read More on HBR
3. Hermès, Louis Vuitton, Chanel report combined $3B in sales last year in Korea: In a separate regulatory filing by Hermès Korea, Louis Vuitton Korea, and Chanel Korea, the three brands reported a combined revenue of 3.93 trillion won ($3 billion) last year, a 22 percent increase on year. – Read More on JoongAng Daily
4. Coach CEO Todd Kahn the latest global luxury chief to visit ‘growth engine’ China post Covid-19: The CEOs of luxury brands have been making a beeline for mainland China, one of their most important markets, after the country ended its strict zero-Covid policy and reopened borders earlier this year. – Read More on SCMP
5. How Luxury Brands Are Courting the New Chinese Consumer as Shopping Tourism Resumes: While the uber-rich were among the first out the gate when China’s border reopened, early indications show they continued to purchase luxury goods in China, probably to maintain their VIP status at stores. – Read More on Alizila
6. Shaq has finally been served in FTX shareholders’ lawsuit: O’Neal is among the celebrity endorsers — including NFL star Tom Brady and NBA star Stephen Curry — caught up in the class-action suit brought against FTX and accused of defrauding investors by promoting a “fraudulent scheme.” – Read More on MarketWatch
1. China’s reopening sees Gen Z ready to splurge: China’s next generation has “real high consumption power,” she says. “They spend more, they borrow more, and they spend their future income, which is not something that older generations ever imagined doing.” – Read More on Fortune
2. QR-style “2D barcodes” will revolutionize retail as we know it: Scanning them may tell us the field where something was grown, the factory where a garment was sewn, the sustainability practices of the company that made it — or the washing instructions. – Read More on Axios
3. SEC charges crypto asset trading platform Bittrex and its former CEO for operating an unregistered exchange, broker, and clearing agency: Since at least 2014, Bittrex has held itself out as a platform that facilitated buying and selling of crypto assets that the SEC’s complaint alleges were offered and sold as securities. – Read More on SEC.gov
4. Retail sales fall more than expected in March; 4 new bankruptcies: March marked the second-straight month that US consumers spent less at retailers than predicted, though the decline followed a stronger-than-expected start to the year. – Read More on S&P Global
5. Exor eyes further healthcare investment for expansion: After completing the sale of PartnerRE, Exor has around 6.5B euros in cash available for investments, including 5B euros for acquisitions. It has already said its M&A activity would mainly focus on healthcare, luxury & tech businesses. – Read More on Reuters
6. Top-tier luxury brands & celebrities will create their own digital platforms and control their destinies directly: “We believe that while the current digital platforms will continue to operate, new private platforms that are co-owned and controlled by the top creators such as top tier luxury brands and A-list celebrities will emerge.” – Read More on GLP