Image: Pucci

1. 99% of Big Fashion Brands Don’t Disclose If Workers Are Paid Living Wages: The latest index released by the nonprofit Fashion Revolution shows that 99% of major fashion brands still aren’t transparent about living wages. In the new Fashion Transparency Index 2021, the industry was also called out on its lack of disclosure over Covid-19 response and climate action. – Read More on Green Queen

2. LVMH-backed fund to buy 60% of Italian fashion label Etro, says sources: Etro said in a statement that L Catterton was taking a majority stake in the company, while the Etro family would retain “a significant minority interest”. It did not go into specifics and gave no financial details. – Read More on Reuters

3. Online Boutique Lulus Is Planning IPO at $1 Billion Value: The Chico, California-based company is working with Goldman Sachs Group Inc. and Bank of America Corp. on the planned listing, said the people who asked not to be identified discussing private information. The company could be valued at around $1 billion, the people said. – Read More on Bloomberg

4. Hong Kong should resuscitate its garment industry: Sustainability, technology and innovation are key to building a smart city. While these buzzwords appeared in Hong Kong’s latest policy address, the new initiatives were mostly concentrated in a limited number of areas, such as fintech, biotech and ecosystem integration in the Greater Bay Area. – Read More on SCMP

5. Authentication startup Ennoventure raises $5 million: Ennoventure, a US-Indian company that provides tech to track and trace products and authenticate products, has raised $5m in first-round funding from Fenice Investment Group. – Read More on Securing Industry