Daily LInks
1. As travel resumes, China’s luxury shoppers ask: Paris or Hainan? In 2021, Hainan accounted for 13% of China’s domestic luxury spend vs. 6% pre-pandemic, and tax regulations are set to continue to loosen. By 2025, luxury brands will be able to operate their own duty-free stores, rather than rely on partnerships with local players. – Read More on Reuters
2. With Patagonia leading the pack, what’s next for sustainability in apparel? Patagonia announced it was “time for us as a company to address the issue of consumerism and do it head on.” “Everything we make takes something from the planet we can’t give back.” – Read More on Modern Retail
3. RELATED READ: Patagonia and the Potential Perils of Philanthro-Capitalism. A major barrier for sustainable companies is the assumption of shareholder primacy – that managers must maximize profits on behalf of the company’s owners. – Read More on TFL
4. Five Questions with Lorenzo Bertelli, Prada Group Marketing Director & Head of CSR: “One of the biggest challenges and opportunities arose in the last 2 years is how to be effectively present in the Web3. We are creatively and strategically approaching Web3 while some of our competitors are rushing to be there.” – Read More on Interbrand
5. California’s Workers’-Rights Push Threatens What’s Left of ‘Made in the USA’ Fashion: California’s Garment Worker Protection Act is a year-old law that takes aim at the industry practice of paying workers a piece rate, and renders fashion brands liable for labor abuses across their supply chains. Similar bills are under consideration in New York state and in the US Congress. – Read More on Bloomberg
6. Biden administration AI policy efforts to be complex balancing act in 2023: With a lack of movement at the federal level, state and city government AI laws are more likely to surface in the coming months. – Read More on S&P Global
