1. Prada Recovers From Worst of Covid-Induced Slump, Thanks to Asia: Prada SpA returned to profit in the second half of 2020 amid a recovery in Asia. The fashion brand has been focused on reducing its sales via wholesalers in order to better control handbag pricing of handbags under its flagship and Miu Miu labels. Its own outlets now account for 90% of overall sales, while the company is also ending seasonal discounts in a bid to boost its aura of exclusivity and profit margins. – Read More on Bloomberg
2. RELATED READ: Prada CEO Says Brand Will “Stop Doing Markdowns” Beginning … Now. With sales on their way out of Prada’s 600-plus stores worldwide, one of the immediate questions becomes: what is Prada to do with its unsold wares? The products will likely shift to different stores, ones that are not listed on the fashion brand’s website alongside its marquee outposts, but instead, come on the form of a smattering of outlets that Prada maintains in different locales across the globe, from its famous SPACE site on the outskirts of Florence to its domestic outpost at New York’s Woodbury Commons. – Read More on TFL
3. Brexit Forces Bankers to Shift Trading of European Stocks Out of London: The fallout from Britain’s split from the European Union showed itself on the first trading day of the year as a big chunk of dealing volume in EU stocks moved from London to venues located in Amsterdam, Paris and the Continent’s other financial centers. – Read More on the WSJ
4. The exhilarating world of post-pandemic shopping: “Experiential retail had been a growing trend, but the pandemic will turbocharge it. Stakes will be higher for brick-and-mortar stores now, because consumers can buy so many products online.” – Read More on Fast Co.
5. Amazon Banned From Using AWS Logo in China Trademark Ruling: Amazon can’t use its cloud-computing business’s AWS logo in China, a Beijing court ruled, the latest headache for a company that has already been hampered by Chinese regulations and rivals. – Read More on the WSJ
6. Fashion designer Pierre Cardin remembered in China as a pioneer who inspired brands like L’Oreal to follow in his footsteps: The late Frenchman was the first Western couturier to stage a fashion show in China in 1979, when most in the country still dressed in drab blue and green.” – Read More on SCMP