Daily LInks
1. Get Rich Selling Used Fashion Online—or Cry Trying: Whether you’re just trying to clean out your closet or treating Poshmark like a small business, for the amount of time you have to invest in interacting on the app, it’s almost impossible to make more than a meager return. Poshmark is less a road to entrepreneurship and more another on-ramp to the gig economy. – Read More on Wired
2. The US crackdown on a major Chinese cotton producer has the fashion industry scrambling: “This order will likely impact the supply chains of virtually every major apparel retailer—from Amazon, to Target, to Zara,” Worker Rights Consortium (WRC), a labor rights watchdog, said in a statement. – Read More on Quartz
3. LVMH Scion: Starting in 2022, fashion companies will no longer be allowed to destroy unsold merchandise in France, a widespread practice to avoid diluting brands with discount sales. Lost sales from pandemic lockdowns have led to larger-than-usual volumes of leftover stock. LVMH has responded by moving some of those goods to Asia, where stores reopened earlier in the year, Arnault said. “We destroy very little,” he said. – Read More on Bloomberg
4. RETRO READ: Burned Bags, Destroyed Watches … There is More to the Alleged Destruction of Luxury Goods Than You Think. Given that the average duty rate for the import of a leather handbag is 16%, but can reach a maximum of 60% depending on the types of textiles at play, and the average rate for luxury watches is 11% but could be as great as 50%, brands that can provide U.S. Customs with evidence that imported products have been exported or destroyed in accordance with the set timetable may be able to claim sizable refunds for unsold products. – Read More on TFL
5. EU to tell Big Tech to police internet or face large fines: Large online platforms will have to ensure greater advertisement transparency by letting users know “in a clear and unambiguous manner and in real time” that they are viewing an ad. Consumers will also have to be told who is behind the ad and be given “meaningful information about the main parameters used to determine” why they were targeted. – Read More on the FT
