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Image: Ferragamo
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1. Millennial Money: Kick-start Your Online Clothing Resale Gig. The secondhand-clothing market is projected to more than triple by 2030, according to a 2021 study by reselling platform Mercari and research firm GlobalData, as more fashion enthusiasts clean out their closets and search thrift stores to find valuable pieces to resell. – Read More on Bloomberg

2. Ferragamo, Amazon say they helped China seize counterfeits in Zheijang: Salvatore Ferragamo and Amazon said on Tuesday Chinese authorities had seized counterfeit products in the Zheijang province, following a global investigation in which the luxury group and the online retailer cooperated. – Read More on Reuters

3. Investors Have a ‘Breakup With Makeup’ as Cosmetics Cos Struggle With Costs: While Revlon’s struggles are, in many respects, unique, other rivals on the slide include French-giant L’Oréal, which is down 20% this year, as well as shares of Estée Lauder and e.l.f. Cosmetics, which have both shed roughly 30% in less than four months. – Read More on PYMNTS

4. Russia-Ukraine war to hit Meta ad revenues as competition with TikTok spikes: Moscow blocked access to Meta’s legacy Facebook and Instagram platforms. Meta followed by pausing ad targeting in Russia, which accounts for 1.5% of the company’s ad dollars, per Meta. – Read More on S&P Global

5. Digital Luxury: Framing Early NFTs as Luxury Goods. Early NFTs serve a similar function to luxury goods in the physical world due to their ability to deliver psychological fulfillment in addition to practical utility. – Read More on Messari