Daily LInks
1. Luxury goods sales picking up again: The luxury goods market is booming, particularly in East Asia. A large part of this is due to expenditure that would otherwise have been earmarked for foreign travel now being spent on luxury goods. But there is far more to this surprisingly resilient market than just the impact of diverting expenditure away from travel and tourism. – Read More on Business Day
2. Burberry: A Hold Until the Dust Settles. British luxury goods firm Burberry has shifted strategy in recent years in order to exercise greater control over its brand. This will benefit shareholders in the long run. – Read More on Seeking Alpha
3. Don’t buy a luxury handbag, splurge on its shares instead: Two of Britain’s most successful fund managers have taken big stakes in luxury brands to cash in on an expected surge in demand for luxury goods during lockdown, fueled by the wealthy shoppers in Asia. – Read More on the Times
4. Argentinian central bank puts cap on imported luxury goods: The Central Bank of Argentina has put a cap on imported luxury goods on January 6 in a bid to preserve dollars in the country. The rules affect purchases of products such as high-end cars and motorcycles, private jets worth over $1 million, recreational boats, beverages including champagne, whisky, liqueurs and other spirits priced above $50/liter. – Read More on Central Banking
5. What Big Tech’s scrutiny means for luxury advertising: As governments globally call out big tech companies for being too dominant, brands and retailers are tactically diversifying their advertising beyond the major platforms. – Read More on Vogue Biz
6. RELATED READ: China is Pushing to Control Big Tech, With E-Commerce Giants Coming Under the Microscope. Newcomers like Bytedance and Pinduoduo – the latter of which has integrated social components into the traditional online shopping model to create a popular “team purchase” experience – were already eating market share from Alibaba and Tencent, and the antitrust reforms could well accelerate that trend. – Read More on TFL
