Daily LInks
1. From McDonald’s to Ralph Lauren, U.S. Companies Are Planning China Expansions: Many companies that are increasing their commitments to China are consumer-facing. They still view China’s enormous market as a promising long-term bet, even if sales took a hit during the zero-Covid era. – Read More on the WSJ
2. Alibaba shows limits of China’s reopening boon: Alibaba on Feb. 23 reported revenue of 248 billion yuan ($35.9 billion) in the three months to December, an increase of 2% year-on-year. Adjusted earnings rose 12% to 40 billion yuan. – Read More on Reuters
3. Malaysia to Introduce Taxes for Luxury Goods Starting This Year: Malaysia will introduce a Luxury Goods Tax starting this year for items of a certain value limit, Finance Minister Anwar Ibrahim said in a budget speech to parliament. – Read More on Bloomberg
4. What Gucci and others learnt from the metaverse: Even stepping inside a Chanel or Hermès boutique is more than many people have the nerve to do. Compared with exclusive environments like these, the metaverse is a less intimidating setting, particularly for younger consumers used to interacting and spending money virtually. – Read More on the FT
5. How online buyers of luxury collectibles reshaped auctions in an economic slump: In December in a patchily performing online-only handbags sale, Christie’s sold a two-year-old Hermès Kelly 25 for $18,900, contributing to the $779m proceeds of its 2022 global luxury auctions, the main entry point for new clients at Christie’s. – Read More on the Art Newspaper
6. How ChatGPT’s AI Will Become Useful: Despite early glitches, useful things are coming. Search boxes aren’t very conversational. Using them is like grunting words to zero in on something you suspect exists. Now a more natural human interface can replace back-and-forth conversations. – Read More on the WSJ
