1. The Hot New Trend for Gucci and Chanel: Middle America. China’s strict approach to containing Covid-19 has further bolstered the case for U.S. investment. That has convinced some brands to bulk up their U.S. presence, ending an era in which expanding in China dominated luxury executives’ thinking, people at these companies say. – Read More on the WSJ

2. Savile Row Fights to Stay Relevant as Suits Fall Out of Fashion: Tailors are adapting to popularity of casual wear and hotter climate, and new arrivals include bespoke streetwear brand Clothsurgeon. – Read More on Bloomberg

3. Crocs Gets Boost From Online Sales, Sees ‘Hey Dude’ Brand at $1B: Casual footwear-maker Crocs said continued gains in its digital sales as well as strong uptake of its newly acquired Hey Dude brand helped drive record second-quarter sales but warned the pace of growth would likely slow down. – Read More on PYMNTS

4. Retail investors perceive stocks, bonds to be more arcane than crypto, survey shows: The cryptocurrency market value ballooned to as much as $3 trillion last year, but it has lost nearly two-third of its value amid surging inflation and tightening financial conditions. – Read More on Reuters

5. Alibaba shed nearly 10,000 employees in June quarter as the e-commerce giant cuts costs amid sluggish sales, slowing economy: “The trend of digital transformation of enterprises is irreversible, although it is affected by the macroeconomic cycle and microeconomic environment, resulting in fluctuations in growth rate.” – Read More on Yahoo