;
Image: Mytheresa
Share

1. Mytheresa IPO is Less Fashion-Forward Than it Looks: Around one-fifth of Mytheresa’s parent company, MYT Netherlands was sold to investors at a $2.2 billion valuation. Mytheresa is one of the few profitable luxury e-commerce players around. Peers Farfetch, The RealReal and Yoox-Net-a-Porter are deep in the red. – Read More on the WSJ

2. A.I. in the beauty industry: How the pandemic finally made consumers care about it. “It’s made people more curious and knowledgeable about the space, and there’s been earlier adoption and connection/ We’ve also seen how people are wanting to interact with products at home, so we’ve accelerated aspects of our strategy to keep up with how the world is moving.” – Read More on Fortune

3. What Rejoining the Paris Agreement Signals to Fashion: “I think when you see the administration signing back on, [fashion companies] realize that at some point there will be some accountability, so they need to start considering [sustainability], and considering it beyond just a marketing plan — but from the scientific perspective.” – Read More on Yahoo

4. Luxury Stocks Rise as Burberry and Richemont Show Signs of Recovery. But it Won’t Be Smooth: The sector’s recovery won’t be smooth, particularly with new virus variants and the prospect of intermittent lockdowns until Covid-19 vaccines take full effect, but those with the luxury of a greater exposure to Asia are likely to fare better in the coming months. – Read More on Barron’s

5. RELATED READ: Richemont sales rise on strong demand in Asia. The biggest luxury companies are faring better than smaller ones in the crisis given the tight control they keep over distribution and their deeper pockets to invest in ecommerce. They have cut costs quickly, held virtual fashion shows, and catered to their best clients by selling over video and text chats. – Read More on the FT