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Image: Armani
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1. Levi’s Leaves Board of Fashion Coalition at Center of China Controversy: The jeans maker is standing down from Better Cotton Initiative’s leadership amid a debate over the coalition’s response to alleged human-rights abuses in Xinjiang. Levi’s generates about 3% of its sales from mainland China. – Read More on the WSJ

2. Looking to Buy a Sustainable Swimsuit? It’s Complicated. Globally, consumers spent $2.7 billion on swimwear in the first half of 2021 — a 19 percent jump from the same period in 2019, according to industry analysts at NPD Group. The problem? As of 2017, polyester and petroleum-based Spandex make up about 65% of the fabrics used in the swimwear market. – Read More on Bloomberg

3. Pandemic shatters M&A taboo for Italy’s luxury brands: The fashion world has been captivated by its own soap opera this summer as the biggest brands roar back from the pandemic: will legendary designer Giorgio Armani sell up? – Read More on the FT

4. RELATED READ: Armani, Exor’s Elkann Engaged in M&A Talks, But There is No Deal as of Now. While talks are, in fact, on hold, TFL’s sources say they are likely to resume in September. And “if there is someone who could create a serious competitor to the French conglomerates, it’s Elkann.” – Read More on TFL

5. Digital transformation depends on diversity: One of the myths about digital transformation is that it’s all about harnessing technology. It’s not. To succeed, digital transformation inherently requires and relies on diversity. AI is the result of human intelligence, enabled by its vast talents and also susceptible to its limitations. – Read More on TechCrunch