;
Image: The RealReal
Share

1. In the Future, All Brands Will Be B Corps: If there’s one lasting change from this crisis, it’s that brands will have to become as much pro-social as they are pro-economic. “We expect our brands to embrace their social responsibility and act on it. Every brand should start thinking like a B Corp.” – Read More on Substack

2. Italian independent fashion labels fight for survival amid lockdown: “If [our factories] reopen soon, I might get the chance to work on a capsule collection, with a limited number of pieces. If not, I doubt we can survive skipping two seasons. Big shops do not wait for a small brand to get back, they just fill the gap with something else.” – Read More on SCMP

3. Who decides what you wear? Meet fashion’s formidable silent force: As the global buying director for Net-a-Porter, the world’s largest multibrand luxury retailer, Elizabeth von der Goltz dictates the products that Net-a-Porter buys – and therefore, what its massive pool of customers buys. – Read More on the Guardian

4. Luxury Retailers Reluctantly Slash Prices Amid Demand Plunge: Neiman Marcus has Tom Ford glasses, which usually sell for about $400, at 50% off on its website. Customers can snag a Derek Lam stripe shirtdress from Saks Fifth Avenue for $237 — 40% off the usual price. Nordstrom is offering a Salvatore Ferragamo slide sandal for $225, down from $375. – Read More on Bloomberg

5. RELATED READ: What happens to the unsold fashion merchandise sitting in stores and in warehouses across the country? Products will be put on sale but … Credit Suisse analyst Michael Binetti suspects that COVID-19 “will [also] create the greatest buying environment for off-price in a decade.” – Read More on TFL

6. Coronavirus effect: Bankruptcies won’t save retail this time. Retail has for years faced the challenges of slowing foot traffic, changing shopping patterns and online competitors that has caused a retail upheaval some analysts have deemed the “retail apocalypse.” But now, nearly every retailer and landlord is also facing the pain. – Read More on CNBC