1. Europe’s largest online fashion retailer bets sales slump is just a blip: Europe’s largest online fashion retailer Zalando is betting the current slump in internet shopping is just a blip and it can avoid the kind of mass job cuts being undertaken by rivals, per co-CEO and founder Robert Gentz. – Read More on the FT

2. The Chinese province of Hainan set a 9% GDP target — but then it locked down: It’s “going to be bad for luxury brands and hospitality at least until Chinese New Year next year,” he said, referring to the Lunar New Year holiday in late January 2023. – Read More on CNBC

3. What the Metaverse Will Mean: McKinsey & Company estimates that during the first five months of the year, global investment in the metaverse hit $120 billion—double the amount invested in all of 2021. – Read More on the WSJ

4. Richemont’s governance armour is hard to pierce: Rupert’s voting power means Bluebell’s proposed governance changes risk floundering, although the fund may seek to come up with some fresh legal arguments. – Read More on Reuters

5. People are spending lots of money on makeup and beauty, and retailers are cashing in: Often seen as an affordable luxury, the beauty category has become a rare bright spot as people pull back on spending amid surging inflation. – Read More on CNBC