Image: Chanel

1. Crypto fashion: why people pay real money for virtual clothes. While the idea of spending real money on clothing that does not physically exist is baffling to many, virtual possessions generate real sales in the “metaverse” – online environments where people can congregate, walk around, meet friends and play games. – Read More on Reuters

2. How this 32-year-old couple is redressing the multibillion-dollar fashion rental industry: The SoftBank-backed start-up today boasts more than 200,000 registered users across Singapore and Indonesia and offers an inventory of 50,000 clothes and more than 2,000 bags. – Read More on CNBC

3. Some companies rip off products. Target imitates entire brands. Target saw the C9 contract’s expiration as a chance to do what it increasingly does best: develop and launch a stylish brand internally—and keep all the revenue for itself. Since Target CEO Brian Cornell announced a plan to double down on the company’s portfolio of private-­label brands in 2017. – Read More on Fast Co.

4. Customers take Chanel to task for leaking their data: “Luxury is not defined by the product itself but various factors are considered comprehensively to create the brand value, including service and after service. Strict measures are necessary as data leakage could result in crimes like voice phishing or robbery.” – Read More on JoongAng Daily

5. China’s appetite for secondhand luxury goods swells: In China’s secondhand luxury goods market, Louis Vuitton has become the most popular brand, followed by Gucci and Chanel, according to a ranking released by Hongbulin, a secondhand luxury trading platform. – Read More on the Star