Image: Shein

1. Chinese consumers splurge on luxury goods as “Covid hasn’t changed the lifestyle of the rich.” Domestic purchases of luxury goods in 2021 in China was valued at $74 billion, having totaled $120 billion in 2019 for both domestic and international sales. – Read More on SCMP

2. Fashion startup Shein raising funds at $100 billion value: Chinese fast fashion e-commerce startup Shein is weighing a funding round at a valuation of about $100 billion, in talks with potential investors to raise about $1 billion. – Read More on Reuters

3. RETRO READ: From Dr Martens to Ralph Lauren, Lawsuits Are Starting to Build for $15 Billion Ultra-Fast Fashion Brand Shein. In furtherance of its steady climb to the top of the fast fashion totem pole, Shein is not merely one of the most blatant appropriators of other brands’ wares, it is swiftly becoming one of the biggest. – Read More on TFL

4. Swatch Omega Tie-Up Adds Sneaker-Drop Hype to Staid Watch World: Brand collaborations are novelty in staid world of watchmaking, where replicas, fashion timepieces and battery-powered movements are among the top things that infuriate watch aficionados. – Read More on Bloomberg

5. Retail: Why it’s the perfect environment for Costco right now. The market has gravitated to a lot of those value-based names like a Walmart or in Dollar Tree where you could see consumers trade down to. – Read More on Yahoo

6. Is Metaverse Fashion Week the Future of the Industry? Attendance was noticeably sparse from industry insiders, and without high-functioning computers, experiences were hindered. – Read More on British Vogue