Daily LInks
1. Premium Retailers Ride China’s Recovery From Covid-19 Crisis: Clothing and footwear as a whole have been generally slow to rebound in China … but luxury brands were helped in China by travel restrictions that kept affluent consumers at home and away from splurging in foreign boutiques, where luxury goods have traditionally been cheaper than in equivalent stores in China. The China unit of LVMH Moët Hennessy Louis Vuitton grew 65 percent year-over-year in the second quarter, while Gucci-owner Kering was up over 40 percent. – Read More on the WSJ
2. Want to Make It Big in Fashion? Think Small. In just five years, Evan Kinori has drawn a passionate international following with his meticulous workwear and small-is-beautiful ethos. “When you buy his clothes, he sends you a note, not a long one, that he writes himself.” Often Mr. Kinori’s one employee, Ryne Burns, follows up with an email to see how the purchases are working out. – Read More on the New York Times
3. Britain’s luxury goods sector calls on government to help get tourists back to London: Britain’s luxury goods industry has called on the government to urgently work on getting high-spending tourists and workers back into the capital, ahead of the furlough scheme ending. “The pandemic has disproportionally affected central London, the shop window of British luxury for UK and international visitors. London-based luxury businesses are reporting that trade is currently running at 5 to 10 percent of normal.” – Read More on the Evening Standard
4. Fashion Is Building a Virtual Future, Starting With Its Showrooms: New technologies are emerging, but the front lines are not consumer-facing digital fashion shows. Instead it’s showrooms, the connection points between brands and retail buyers, that have become the playground for luxury fashion’s digital experiments. Brunello Cuccinelli, for one, is banking on NuOrder, a virtual showroom platform that digitizes the wholesale buying process. – Read More on Vogue
5. China’s Version Of ‘Recession Fashion’ Could Change Global Styles: Global fashion tastes have become increasingly polarized in these post-pandemic times. A preference for “extra” values in luxury increased by 14 percent for Chinese, while it dropped by 9 percent among Westerners, according to “The True-Luxury Global Consumer Insight Survey,” which was conducted by the consultancy BCG in June. – Read More on Jing
6. Tiffany Will Soon Reveal Everywhere Your Diamond Has Traveled: Tiffany & Co. wants to ease customers’ concerns about human rights abuses in the diamond industry by providing them with an unprecedented amount of detail about the precious stones it sells. – Read More on Bloomberg