Daily LInks
1. Macy’s Investors Reportedly Launch $5.8 Billion Bid to Take Retailer Private. The report says these investors believe Macy’s is undervalued on the public market and have said they would raise their offer, subject to due diligence. – Read More on PYMNTS
2. The World’s Most Anonymous CEO Is About to Take Center Stage. Sky Xu, the founder of fast-fashion juggernaut Shein has managed to stay out of the spotlight despite his company’s meteoric rise. With an IPO looming, he likely won’t remain under the radar for much longer. – Read More on WSJ
3. When Push Comes to Shove, Amazon Does Cut Prices. Starting next year, its commissions on sales of cheap apparel are dropping from 17% to as low as 5%, it announced last week. The reason, while not explicitly mentioned by the e-commerce giant, is the Chinese fast-fashion retailer Shein. – Read More on Bloomberg
4. Luxury Brands Seek Discreet Ways to Move Goods During Slowdown. Off-price outlets have become increasingly popular. These outlets can shift meaningful amounts of stock while offering brands the discretion of offline prices. – Read More on PYMNTS
5. RETRO READ: As Unsold Goods Continue to Mount, the Off-Price Market is Coming into View. The result of the growing mound of unsold merchandise will be a field day for a select few: off-price retailers and resale entities. The T.J. Maxxes and Marshalls of the world and the growing number of digitally-native resale sites are being presented with “the greatest buying environment for off-price in a decade.” – Read More on TFL
6. CIOs grapple with the ethics of implementing AI. With ethical considerations around AI use increasingly top of mind, IT leaders are developing governance frameworks, establishing review boards, and coming to terms with the difficult discussions and decisions ahead. – Read More on CIO