Image: The RealReal

1. Luxury resale market is on fire and The RealReal lit the fuse: Luxury resale is nearly half as large individually as the three leading personal luxury goods categories – leather accessories ($71 billion), beauty ($69 billion) and apparel ($65 billion) – and grew five-times faster than the firsthand market from 2017 to 2021. – Read More on Forbes

2. Chanel Tests Purse Lovers With $3,000 Price Hikes: Luxury companies have been taking advantage of surging demand to reposition their brands as even more exclusive and costly, according to industry executives and analysts. The practice predates the pandemic, but has received a renewed push in the past year. – Read More on the WSJ

3. RELATED READ: Chanel is Reportedly Putting a Quota System in Place for Some of its Bags. Not the only brand placing limitations on the sale of certain products, Chanel is joined by Hermès, which has notoriously limited the quantities that consumers can purchase of certain “quota” bags, namely, Birkin and Kelly bags, to two bags per a calendar year in furtherance of a “very limited distribution strategy.” – Read More on TFL

4. Dolce & Gabbana takes perfumes and cosmetics business in-house: The move was part of a “long-term strategy which sees us committed to consolidating, cultivating and promoting Italian artisanal and manufacturing excellence.” – Read More on Reuters

5. Amazon and Nike are exploring bids for Peloton, report says: While many investors have become frustrated with Peloton due to a steep drop in its share price, analysts also note that the company may be a difficult acquisition target because of its two classes of stock, effectively allowing insiders to control it. – Read More on CNN

6. Did Your Handbag Help Destroy the Rainforest? Fashion’s extensive use of leather is contributing to deforestation. Most of that leather comes from cattle, and rainforest in the Brazilian Amazon is increasingly being slashed and burned to create more grazing space. – Read More on the New York Times