Daily LInks
1. In China, Luxury Shopping Faces Ongoing Headwinds: Many companies are holding off on new stores or large-scale offline events and adopting a “wait-and-see” approach in the short term, with few expecting any recovery until at least the middle of 2023. – Read More on the New York Times
2. Rent the Runway’s Revenues Rise as Consumers Embrace Borrowed Fashion: The company said its revenue for the quarter rose 31% year-over-year, while its active user base increased, with subscribers beginning to use the fashion rental and retail service for more than just special events. – Read More on PYMNTS
3. Meta battles U.S. antitrust agency over future of virtual reality: On Thursday, a high-profile trial kicks off in which the FTC will try to prevent Facebook parent Meta Platforms Inc from buying virtual reality app developer Within Inc. – Read More on Reuters
4. Big Spenders Plan to Go All ‘White Lotus’ and Travel More in 2023, a New Report Says: Findings from the survey showed that nearly 60 percent plan on spending more on travel in 2023 compared to 10 percent of respondents who say that they would cut back. – Read More on Robb Report
5. Can Fashion Be Profitable Without Growth? “You can have responsible and sustainable growth. Growth doesn’t mean more products always. It could be product that is better quality with better material, better design, which also means better prices.” – Read More on the New York Times
