Daily LInks
1. LVMH boss Bernard Arnault’s visit highlights growing importance of huge mainland Chinese market for luxury brands. He was the second top executive of a French high-end fashion group to embark on an apparent charm offensive to tap the huge mainland Chinese luxury market after a visit in February by Kering chairman and CEO Francois Henri Pinault. – Read More on SCMP
2. Hospitality Drove M&A Deals in Luxury Sector in 2022, Deloitte Says. Assessing about 300 companies globally, the survey highlights how 2021 margins for personal luxury goods companies doubled those of other luxury sectors, with apparel and accessories’ average margins standing at 36%, followed by cosmetics and fragrances at 20.9%. – Read More on Yahoo
3. Google confirms it’s training Bard on scraped web data, too. The search giant has updated its privacy policy to include Bard and Cloud AI alongside Google Translate under services where collected data may be used. – Read More on the Verge
4. In NYC, companies will have to prove their AI hiring software isn’t sexist or racist. Under New York’s new rule, hiring software that relies on machine learning or artificial intelligence to help employers choose preferred candidates or weed out bad ones – called an automatic employment decision tool – must pass an audit by a third-party company to show it’s free of racist or sexist bias. – Read More on NBC
5. TikTok Emerges as Threat to Amazon With $20 Billion Shopping Pilot. Its success in the region is crucial for TikTok as it faces a possible ban in the US on national security concerns. It also provides the company a template to take on Amazon in a way that no social media company has attempted before. – Read More on Bloomberg
6. Footwear brands are racing to pioneer carbon-conscious shoes. “It’s becoming understood that sustainability is more than just one of those elements. It’s really a holistic strategy … [and] to help with this, companies are increasingly folding carbon into the conversation.” – Read More on Modern Retail
