Image: Hermes

1. Consumers Still Have ‘Appetite to Spend’ as Omicron Dip Seen as Temporary: “There’s an appetite to spend. There’s still a lot of money that people have, and personal balance sheets are still pretty strong.” – Read More on PYMNTS

2. Hermes Shares Fall Out of Favor: As the most highly rated major luxury stock, trading at 59 times estimated earnings, Hermes has fallen more steeply than lower-rated peers. Its 15% drop in 2022 compares with declines of 6.3% for LVMH and 5.1% for Kering, both of which trade on multiples about half that of their smaller peer. – Read More on Bloomberg

3. Ralph Lauren CEO says metaverse is way to tap into younger generation of shoppers: “One of our strategies is to win over a new generation and the new generation is there. So, we have to be there.” – Read More on CNBC

4. Fashion industry looks to online metaverse as test lab for developing new products, blurring the line between virtual and real: “In the end, it’s about desirability,” said Berg. “If it is desirable in that (virtual) space, why wouldn’t it be desirable in another space?” – Read More on SCMP

5. Rolls-Royce, Bentley, BMW Sales Surge as Cheaper Brands Lag Behind: Rolls-Royce will remain a small, intimate luxury brand focused on creating experiences for its customers. To appeal to younger customers, it is connecting owners through an app called Whispers, which you can only access if you actually own a Rolls-Royce. – Read More on the WSJ