Daily LInks
1. As shopping picks up during pandemic, the gap widens between retail’s haves and have-nots: Target is one company that’s illustrated the sharp contrast. It has picked up 10 million new digital customers and $5 billion in market share during the first half of the year. “We’re not on planes. We’re not spending dollars on hotels, so many of those dollars have been redirected into retail.” – Read More on CNBC
2. Luxury brands are reportedly opening ‘shops’ on Amazon in September, just in time for runway show season: The labels, which hail from Europe and the U.S., will operate their own concessions on the site with a business model that’s more similar to the Farfetch marketplace than Net-a-Porter or Matchesfashion. – Read More on Business Insider
3. RELATED READ: Amazon Files Another Joint Counterfeit Suit, Potentially Helping to Drive Home the Message That it is an Attractive Partner. The growing number of instances of Amazon partnering with brands to file suit are likely aimed at helping it to make a case that it is, in fact, an attractive partner for even the most highly protective luxury brands. – Read More on TFL
4. Retail liquidations to become more likely as COVID-19 drags on in US: Some recent retail filings, while technically restructurings, have included significant liquidation components. Stein Mart Inc., which filed for bankruptcy Aug. 12, has decided to close its entire store network and signaled that it is willing to offload other elements of its business, including its e-commerce operations. – Read more on S&P Global
5. RELATED READ: Chapter 11, Liquidation & Individuals’ Cases … A Fashion/Retail Bankruptcy Primer. While Chapter 11 is one of the most commonly-utilized forms of bankruptcy, it is not the only type of proceeding, and it is not necessarily clear to most brands and retailers what the process actually entails. – Read More on TFL
6. Cuomo clears New York Fashion Week this fall, but the runways will be outside or without an audience: The annual fashion show will be allowed to host the world’s top designers as scheduled for Sept. 13 to 17, but even outdoor audiences will be capped at 50 people, Cuomo said. No spectators will be allowed for indoor runway shows, which will also be limited to 50% capacity, he said. – Read More on CNBC
