Daily LInks
1. How E-Commerce Is Penetrating the Luxury Market: Luxury brands will have to adapt to e-commerce standards, even if they are worried about losing their elite status. “In 2017, Nasdaq forecasted that 95 percent of business would be conducted via e-commerce by the year 2040.” – Read More on Entrepreneur
2. RETRO READ: Can LVMH Get Consumers to Shell Out Tens-of-Thousands of Dollars Online? There is certainly evidence that consumers are spending in significant ways online. That does not mean, however, that Louis Vuitton is willing to make its full expanse of products available to consumers by way of a single click or that LVMH’s Hublot and Zenith watch brands will follow suit … yet. – Read More on TFL
3. Cardi B, Kylie Jenner Silent as COVID Ravages Fashion Nova: California distribution center for Fashion Nova—the Instagram-friendly clothing brand promoted by Kylie Jenner, Khloe Kardashian, and Cardi B—reported at least 203 cases of COVID-19 in recent months, making it the third largest ongoing outbreak in all of Los Angeles County. – Read More on Daily Beast
4. 2020: The year that changed fashion – and not just the look. Management consultancy firm McKinsey & Company marked 2020 as the worst year on record for the fashion industry, forecasting a 90% decline in profits and a 15-30% fall in sales, compared with 2019. – Read More in the Guardian
5. China’s luxury sales estimated to grow 48% in 2020, fueled by online sales and a consumption “comeback.” Bucking the global downward streak amid the fallout from the COVID-19 pandemic, China’s luxury sales last year rose by a stunning 48 percent to around $54 billion, buoyed by a consumption comeback as travelers were unable to shop overseas, a boost in online sales and duty-free policies in South China’s Hainan Province. – Read More on Global Times
6. M&S Takes Up the Challenge of Reviving a Tired Boomer Brand: The challenge of reinvigorating tired brands is being taken up across the retail sector in the U.K. and beyond. For example, M&S’s rival Next is among the bidders for Topshop, the fashion company that became available when billionaire Philip Green’s retail empire collapsed into administration in November. – Read More on Bloomberg
