Daily LInks
1. Selling Luxury Goods in a More Socialist China Becomes a Problem: A wealth-redistribution push in China is potentially bad news for the luxury industry. Some 10,000 people generate around a quarter of all luxury sales to the Chinese, and are now the industry’s most important shoppers by nationality. The risk of higher taxes and party disapproval may curb these big spenders. – Read More on the WSJ
2. European stocks skid as luxury-goods makers and commodity producers tumble: European stocks slumped on Thursday, as luxury-goods makers dived on worries over China’s efforts to tackle income equality, with mining stocks losing ground after minutes from the last Federal Reserve interest-rate-setting committee indicated it was soon going to start reducing the rate of bond purchases. – Read More on MarketWatch
3. New Luxury Brands See Opportunities to Expand Post-Pandemic: Experiential retail has been on the rise across the sector as brands and merchants find themselves looking for ways to bring consumers in-store. – Read More on PYMNTS
4. Depop Made Sustainable Shopping Cool for Gen Z: Depop seems to have recognized what the e-commerce industry as a whole has missed: it’s not just about the clothes, it’s about the experience. With a change to be an influencer, Depop sellers model their wares on Instagram and TikTok in hopes of building large followings, and Depop does what it can to encourage this practice. – Read More on Time
5. How Primark makes money selling $3.50 T-shirts: Primark has doggedly stuck to a stack-it-high-sell-it-cheap approach to retailing that would feel familiar to the manager of its first store, opened in Ireland in 1969. The strategy has limitations, particularly when it comes to new growth. But for now—and notwithstanding the odd pandemic—it is proving its worth. – Read More on the Economist
