Daily LInks
1. How Primark Built a Thriving Fashion Business Without Selling Online. Last year Primark made $9.5 billion in sales revenue, without a single penny from online shopping. It has gained a foothold in the U.S. fashion industry by pushing customers to shop in-store. – See More on the WSJ
2. Failure to lift ‘exploitative’ wages tests fashion firms’ commitment to human rights. The glacial progress of change was further exposed last month, with the publication of the Fashion Transparency Index, which revealed that 99% of major fashion brands were still not disclosing the number of workers in their supply chain who were being paid a living wage. – Read More on Reuters
3. Birkin bag demand sees Hermès profits soar to new heights. Analysts consider Hermès to be in a category of its own as far as pricing power is concerned as demand for its handbags consistently surpasses its capacity to produce them. That means many bags enjoy higher resale values. – Read More on SCMP
4. The phygital phenomenon: Luxury’s next ‘it’ products target Web3 communities. “I think we’re going to see every brand trying different approaches to the space. Over the next few years, we will see different variations as companies test the model out.” – Read More on Jing
5. Congress unlikely to pass sweeping new AI laws, key GOP senator says. The Indiana Republican anticipates the Senate will equip federal agencies with the people and other resources needed to implement laws already on the books in a world that is increasingly being transformed by algorithms and artificial intelligence. – Read More on Politico
6. If You Thought the Market for Yeezys Was Dead, Think Again. The German sportswear giant reported on Thursday that the first release of more than $1 billion worth of Yeezy-branded shoes generated revenues of around 400 million euros, or around $437 million. – Read More on the WSJ
