Daily LInks
1. Gucci, Ralph Lauren and other labels join voucher schemes at Hong Kong luxury malls: Luxury malls are offering vouchers to shoppers to encourage them to spend more, but much of their cost is borne by the brands at whose stores they spend them, leaving luxury brands caught between a rock and a hard place. – Read More on SCMP
2. Travelers are ‘all in’ at duty-free stores, snapping up luxury goods as air travel returns: “We’re noticing that travelers who are shopping are buying high-ticket, luxury items, including jewelry, high-end handbags, sunglasses, and wallets. Things we wouldn’t expect pandemic passengers to buy.” – Read More on NBC
3. RELATED READ: Price Gaps Between Luxury Goods in China, Other Markets is Likely to Boost International Spending Post-COVID. While the percentage of luxury goods acquired each year by Chinese consumers outside of the Chinese Mainland may not return to the previously-observed 60 percent figure, the “persistent high price gaps between China and Europe” is likely to get these coveted luxury buyers shopping abroad again. – Read More on TFL
4, The $4 billion problem designers can’t shake: Broadly speaking, U.S. law actually enables copycats. Designers can secure patents and copyrights, but those offer a limited period of exclusivity. Then the design belongs to the public and anyone can copy it. “The status quo is there is nothing wrong with copying another company’s product.” – Read More on Fast Co.
5. Luxury Retail Evolves in Wake of COVID-19 Pandemic: “Actually I think it’s more of a luxury experience to be able to buy remotely from your sofa with a glass of wine rather than having to run across town to a store,” according to Lyst founder and CEO Chris Morton, who says that consumers “expect to do anything with their smartphone,” comparing it to a remote control. – Read More on Yahoo
