1. What it’s really like to be black in the fashion industry: “I was considered inexperienced.” “Being stereotyped is something I have experienced in my career.” “I had experienced situations in which I had been overlooked for permanent positions.” “Being constantly asked about ‘diversity’ makes me feel like I’m always being typecast.” – Read More on the Guardian

2. How slow times in the luxury world will separate the bling from the chaff: The world of personal luxury goods—from handbags and haute couture to diamond rings and pricey Swiss watches—has been in hibernation. Now, posh purveyors are having to rethink their business model in a hurry. – Read  More on the Economist

3. The Rich Have Stopped Spending and That Has Tanked The Economy: “For higher-income individuals, that spending is still way far off from where it was prior to COVID and it has not recovered as much.” They have a lot of discretionary income and before the pandemic were spending a significant chunk of that going to nice restaurants, the theater, or traveling and staying in nice hotels. Those are precisely the things that have been off-limits since the coronavirus hit. – Read More on NPR

4. Creative directors in luxury fashion have a five-year expiration date: “Five years seems the ‘expiry date’ of successful creative directors,” Bernstein found when looking at the past performance of big luxury companies under more than a dozen different creative directors, the individuals who are responsible for defining the public image of a brand, from overseeing design of the products it sells through guiding the look and feel of its marketing and stores. – Read More on Qz

5. The e-commerce boost is about more than Amazon: The pandemic has acted as an accelerant for e-commerce, and the convenience has staying power even as people emerge from sheltering in place. Morgan Stanley revised its forecast for online sales growth this year to 25%, nearly doubling its previous estimate. That’s an additional $71 billion directed at electronic purchases. – Read More on Reuters