1. More Warnings Surface About Department Stores: “A recession, bad weather, fashion misses, or some other one-off event could make a challenging situation much more problematic … To deliver steady long-term growth, we believe brands can no longer rely on malls or department stores to drive traffic. Brands have to generate their own audiences and become destinations.” – Read More on PYMNTS
2. Hermès Thriving In China Despite COVID-19: The fact that Hermès is currently trading above its pre-COVID-19 value represents “a rarity among fashion firms.” Currently, most affluent Chinese consumers have a stronger focus on vitality, wellbeing, and health instead of shopping for trendy luxury pieces. Consequently, well-made, season-less designs are the only luxury items that register robust demand in a world that wants athleisure, loungewear, and activewear. – Read More on Jing
3. RETRO READ: Hermès Can Only Show Its Worth in a Luxury Downturn. Investors are willing to stump up for Hermès, despite slower growth, because the company is considered a safe place to park money in a cyclical industry. Its shares bounced back quickly from the 2008 financial crisis and a Chinese slowdown five years later. The brand’s annual sales growth has dipped below 8 percent just once since 2010. Competitors have had a spikier time of it. – Read More on WSJ
4. Taylor Swift Made an Album. Now She’s Going to Sell Thousands of Cardigans: Demand for the $1,150 puffy orange Moncler jacket featured in Drake’s 2015 smash “Hotline Bling” skyrocketed after the music video went viral, for example — and Swift’s significantly cheaper $49 cardigan will likely be an even easier sell. – Read More on Rolling Stone (via Redef)
5. Wellness Businesses are Capitalizing on the Work-From-Home Boom: “In our newly remote culture, companies are looking for ways to engage employees and to help them build new sustainable routines at home,” said Nicole Wolfe, head of corporate programs at ClassPass, an online workout provider that companies have been offering to their remote workers as an added benefit. – Read More on CO.