Daily LInks
1. Rent the Runway CEO says it is changing how it buys apparel from brands to boost its profits: It has one program known as “Share by RTR,” whereby it purchases apparel or accessories directly from brand partners on a consignment basis, at zero or low upfront costs, and shares profits with the brands – Read More on CNBC
2. U.S. Retail Chains Push Congress to Address Resale of Stolen Items: Officials from major U.S. retailers, including Home Depot, Best Buy and Target, called on Congress to intervene to thwart the online resale of stolen, fake, and dangerous merchandise. – Read More on PYMNTS
3. Luxury Brands Are Already Making Millions in the Metaverse: The likes of Gucci, Balenciaga, and Burberry are spinning up fashion and accessories that are meant exclusively to be world in the virtual world. – Read More on Bloomberg
4. Shein: the Chinese company storming the world of fast fashion. Each day, it adds 6,000 new items online, far more than any comparable retailer manages. It responds in real time to trends picked up by analytics software, which trawls through shopping and social media websites. – Read More on the FT
5. RELATED READ: From Dr Martens to Ralph Lauren, Lawsuits Are Starting to Build for $15 Billion Ultra-Fast Fashion Brand Shein. While fashion brands are “used to fighting on multiple fronts to protect their intellectual property, that challenge is only intensifying as major global players like Shein increasingly harness advanced data analytics to establish emerging fashion trends and rapidly create and produce associated designs that can be on the market within a matter of days.” – Read More on TFL
6. Rolex Seller Benefits From a Well-Timed U.S. Start: Watches of Switzerland’s stock has become a proxy for Rolex, Patek Philippe and Audemars Piguet—all privately held brands for which buyers face long waiting lists. Constrained supply of these products should continue to support prices and customer engagement with the retailer. – Read More on the WSJ
