Daily LInks
1. Why anti-fashion Converse are the fastest-selling sneakers in the world: Fast forward 19 years from when Converse was acquired by Nike, and they’ve ballooned to $1.9 billion, achieved by regularly refreshing its offer with myriad new colorways, collaborations and design tweaks. – Read More on the Telegraph
2. Gen Z poses a problem for the luxury industry: “This might be the first time that a lot of young adults (in China) are facing (such an) economic impact, so it will be a testing ground on how these consumers are going to spend on luxury items going forward.” – Read More on Reuters
3. Retail therapy: Shoppers pamper themselves with clothes, luxury goods in nation’s malls. “After prolonged lockdowns in our two largest states of NSW and Victoria in the first half of 2022, the retail sector has enjoyed a sustained rebound in retail sales and importantly, retailer confidence.” – Read More on SMH
4. US Retail Feels Inventory Pain as Spending Shifts: Earnings from US retailers, together with fresh figures on port volumes and retail sales, are showing the effects of red-hot inflation on both consumer spending and the logistics networks that are trying to match frayed supply chains with shifting demand. – Read More on Bloomberg
5. Tapestry, Estee Lauder feel earnings pinch from China lockdowns: Estee, which makes MAC lipstick and La Mer skincare products, gets over a third of its revenue from China, while Coach handbag maker Tapestry generates about 20% of its sales from the region. – Read More on Reuters
