Daily LInks
1. China’s consumers spent $73.6 billion on luxury goods at home last year, up 36% from 2020: Mainland China’s share of the global luxury market rose in 2021 as consumers spent more at home, keeping the country on track to become the world’s largest luxury goods market by 2025, according to consultancy Bain & Company. – Read More on CNBC
2. Luxury goods group Kering to sell watches division: The transaction fits the company’s strategy of prioritizing labels “with the potential to become sizable assets within the group”, Kering said in a statement on Monday. – Read More on Reuters
3. Louis Vuitton sees big interest on Kuaishou as fashion show live-stream outperforms Douyin, Weibo and Tencent Video: “[The live stream] was more about creating marketing buzz. Compared to consumers in first-tier cities, those from third- or fourth-tier cities lack the channels to buy and understand luxury goods.” – Read More on SCMP
4. Why are Activists Suddenly Swarming Kohl’s and Other Retailers Now? The pursuit of higher valuations by untethering the faster-growing digital assets from the core department stores, was also deployed this past year at rivals including Saks and Macy’s, with the latter expressing its preference for omnichannel togetherness and the former moving ahead with plans for a peaceful separation. – Read More on PYMNTS
5. Solving the paradox of growth and profitability in e-commerce: Skyrocketing online sales have been accompanied by costs that have risen just as fast. Fulfillment costs, for example, can account for 12 to 20 percent of e-commerce revenues, squeezing margins and making profitability a mirage. – Read More on McKinsey
