1. Consumer companies seeking IPOs will enter busy market in 2021: Buoyed by hope the pandemic could be ending soon, Biden’s election to the White House and low interest rates, investor enthusiasm soared in 2020. That enthusiasm helped drive up public valuations that made it cheaper to raise capital on the public market compared to the private one, experts say. – Read More on S&P Global
2. Tiffany posts record holiday sales on online, China demand: The company, which will soon be bought by France’s LVMH, said its overall preliminary net sales rose about 2% for the period Nov. 1 through Dec. 31, compared with a year earlier, with e-commerce sales surging more than 80% during the period. – Read More on CNBC
3. RELATED READ: As Tiffany & Co. Q3 Sales Spike, What About LVMH’s Material Adverse Effect Claim?The sizable uptick in sales is particularly interesting given that just two months ago, LVMH Moët Hennessy Louis Vuitton sought to pull out of its $16 billion-plus deal to acquire Tiffany & Co., pointing to the way in which the stalwart jewelry company’s “management and its Board of Directors … has handl[ed] the [COVID] crisis,” and arguing that Tiffany’s business was thoroughly “devastated” by the global health pandemic. – Read More on TFL
4. In other Tiffany news … LVMH gives Tiffany a makeover, promotes Arnault scion after $16 billion deal: LVMH has installed new execs for Tiffany, with LV chairman and CEO Michael Burke taking on the chairman role, 28-year old Alexandre Arnault is the new EVP in charge of product and communication, and Anthony Ledru will replace Alessandro Bogliolo as CEO. – Read More on Reuters
5. Luxury Goods Poised For Comeback In Asia; Digital Sales Gain Traction: Financial News said South Korean consumers unable to take summer vacations due to COVID-19’s travel restrictions often used their unspent money to buy luxury goods instead. The publication said South Korea’s three top department store chains all reported double-digit year-on-year growth in luxury sales. – Read More on PYMNTS
6. These brands will pay you to wear their clothes: For decades, fashion brands have built their businesses on convincing customers to buy new clothes, racking up profits with each new purchase. But in new twist, fashion brands are persuading their customers to wear clothes they already own. Some are even paying them to do so. – Read More on Fast Co.
7. Wells Fargo Banker Reflects on a Year of Retail Disruption: Some shaky retailers could have avoided bankruptcy in 2020 if not for the pandemic; hedge funds played a bigger role than in the past; and liquidation sales turned out better than expected, despite pandemic lockdowns. – Read More on the WSJ