Daily LInks
1. European luxury labels’ distaste for discounts frustrates Farfetch ambitions. Its longer-term challenge is a drive among labels to seek greater control of their products, usually at their own retail boutiques – a strategy aimed at avoiding discounts that third party retailers like Farfetch rely on to attract shoppers. – Read More on Reuters
2. They spent big to be B Corps. Now they’re questioning the do-good corporate status symbol. An increasing number of B Corps are voicing concerns about the standards used to assess members, raising questions about rapid growth in the number and size of companies being certified. – Read More on LA Times
3. RELATED READ: Chloé Is Luxury’s First B Corp, What Does the Popular Certification Really Entail? The reality behind B Corps can be more complicated that meets the eye given that “B Corp standards are not legally enforceable, and neither a company’s board nor the company, itself, is liable for damages if it fails to meet them.” – Read More on TFL
4. Why the AI Act was so hard to pass. Unsurprisingly, OpenAI (a company known for refusing to disclose details about its work), Google, and Microsoft all lobbied the EU to water down the harsher regulations. Those attempts seemingly paid off. – Read More on the Verge
5. Rebag CEO sees ‘tension’ in luxury market. Gorra says that less spending in the firsthand luxury market directly impacts the resale market, noting “we [resale retailers] are a consequence of some of the trends that you see in the firsthand market.” – Read More on Yahoo
6. After liquidating stores, bankrupt retailers are staging a comeback. Months after shuttering 115 locations earlier this year due to its parent company Bed Bath & Beyond going bankrupt, BuyBuy Baby unveiled plans last month to reopen 11 closed locations. And, off-price department store Century 21 reopened its flagship location in New York this May. – Read More on Modern Retail
