Daily LInks
1. How Major Luxury Fashion Brands Are Wooing the $2 Trillion Dollar Crypto Market: The widespread adoption of cryptocurrency, as well as the introduction of the new non-fungible tokens (NFTs) based on blockchain tech, have led to massive interest from top brands all over the world. – Read More on Forbes
2, The ultra-rich just want to splurge, travel restrictions lead to purchase of luxury goods: “What was surprising was not so much the recovery in China but the violent rebound in the United States,” remarked Erwan Rambourg a sector analyst. Compared with previous crisis recoveries, after the September 11 terror attacks or the 2008 economic crisis for example, “the feeling of guilt, the idea that it is inappropriate to buy luxury goods, disappeared.” – Read More on Economic Times
3. Increased Athletic Apparel Competition Has Lululemon Sweating: The pandemic only accelerated demand for athleisure. “This is an area that’s poised for continued accelerated growth,” with the total addressable global activewear market representing over $200 billion in revenue and is currently growing in the mid to high single digits. – Read More on PYMNTS
4. And speaking of athleisure … US footwear firm buys Sweaty Betty in $400m deal: After a year-long sale process that had been expected to fetch as much as £400m, the Michigan-based footwear manufacturer Wolverine Worldwide said it had struck a deal at a lower price with Sweaty Betty’s backers, including the LVMH-affiliated L Catterton. – Read More on the Guardian
5. Hugo Boss needs stronger legs to win fashion race: New Hugo Boss CEO Daniel Grieder unveiled plans to double revenue to 4 billion euros by 2025. The brand, whose men’s suits sell at $700-plus, was hit hard by the health crisis, losing a third of revenue last year. – Read More on Reuters
