1. Online fashion retailer Boohoo acquires 7.1% of Revolution Beauty: Boohoo already sells Revolution Beauty products through several of the group’s direct-to-consumer brand websites and its online digital department store, Debenhams. – Read More on Reuters

2. U.S. Retail Spending Held Steady in July: Shoppers have maintained spending despite the highest annual U.S. inflation in four decades, though they are getting less for their money because of higher prices. The retail sales figures aren’t adjusted for inflation. – Read More on the WSJ

3. Why are rich Chinese consumers selling their Rolexes? It seems even the wealthy are exercising caution, cutting back on their discretionary spending and selling their Rolex watches and Hermès bags to raise cash. Whether a smart and strategic move or panic selling based on fear of the unknown, the outcome is the same. – Read More on SCMP

4. Luxury Brands Discover Blockchain: What it allows the brands to do is to engage market direct sales, along with second market trading using an existing infrastructure – Ethereum blockchain along with the associated marketplaces like OpenSea, Coinbase NFT, and others such as LooksRare. – Read More on Forbes

5. U.S. business inventories increase solidly in June: Inventories are a key component of gross domestic product. June’s increase was in line with economists’ expectations. – Read More on Reuters