Daily LInks
1. Myanmar crisis sounds death knell for garment industry, jobs and hope: Foreign investment in garments surged in Myanmar over the past decade as economic reforms, an end to Western sanctions and trade deals helped establish the sector as the greatest symbol of its nascent emergence as a manufacturing hub. – Read More on Reuters
2. Skinny jeans are out and wide-leg denim is in vogue. The world is in a new denim cycle, Levi’s CEO says: “I don’t think skinny jeans are ever going to go away completely, but clearly right now we are seeing a very strong demand for these looser fits.” – Read More on CNBC
3. Bulgari CEO on buying jewelry online, LVMH’s Tiffany deal, Chinese consumers and the future of luxury: “Jewellery is always more resilient and always recovers faster than the rest of the luxury market.” – Read More on SCMP
4. A geopolitical crisis cripples H&M. Nike, Adidas, and Visa could be next: For the past decade, fashion labels—including H&M—have been trying to be more values-driven, catering to millennial consumers who care about sustainability and the ethical treatment of workers. The question is: What happens when this rosy image is challenged by one of the world’s biggest markets? – Read More on Fast Co.
5. Mastercard report reveals massive pandemic-driven shift to ecommerce: Global consumers increased online spending by $900 billion in 2020. This translates to ecommerce making up $1 for every $5 spent on retail in 2020, compared with $1 for every $7 in 2019. – Read More on Business Insider
6. Does Luxury Need Daigous Post-Pandemic? The gap between Western and Chinese retail price tags has been fueling the overseas shopping business, which offers tax-free luxury goods to local consumers. – Read More on Jing
