Daily LInks
1. Fashion resale platform Vestiaire Collective expands into South Korea: Online fashion resale platform Vestiaire Collective is expanding into South Korea, choosing the fast-growing luxury market as a springboard for a deeper push into Asia. – Read More on Reuters
2. International garment industry struggling to cope with US ban on Xinjiang cotton: “It’s very hard to differentiate between fabrics that were or were not manufactured using cotton from Xinjiang. We are anxious about our supply chain as it relies heavily on China and many of our members are large manufacturers, so this decision has put them under huge pressure.” – Read More on Global Times
3, Forward Thinking on the sustainability revolution in textiles and the fashion industry: “For all of the modernity that we think of this industry, it’s quite conservative. I remember talking to a brand recently, a luxury brand, and basically they said, “We haven’t changed suppliers for three generations.” – Read More on McKinsey
4. Here comes a ‘flurry’ of retail bankruptcies, former retail CEO warns: “I think we will see a flurry of bankruptcies likely in the first quarter of 2023 if this holiday season is anything less than completely robust.” – Read More on Yahoo
5. LVMH Q2 focused on managing demand for luxury goods: If — and when — demand for what LVMH calls “high quality products” should weaken, Guiony said it would “react swiftly, cut costs and delay store openings” exactly as it has in other down times, but noted this does not appear to be one of those periods just yet. – Read More on PYMNTS
