Daily LInks
1. Victoria’s Secret pays sacked Thai workers $8.3m in ‘wage theft’ settlement: The agreement is the largest-ever wage theft settlement at an individual garment factory, the international workers rights group Solidarity Centre said. – Read More on the Guardian
2. China’s $100 billion startup Shein is undercutting the fast fashion industry with even cheaper clothes: Shein has benefited from Beijing scrapping export taxes for companies that ship direct to consumers, while also capitalizing on a U.S. tariff exemption on postal packages valued at $800 or less. – Read More on Fortune
3. Puig buys contemporary fragrance label Byredo: Spanish fashion and perfume company Puig said on Tuesday it has purchased a majority stake in luxury label Byredo, the latest in a string of acquisitions of niche fragrance and cosmetics labels by larger groups. – Read More on Reuters
4. Glam makeup and dressing up are back – and that’s benefiting retailers like Macy’s and Ulta: The latest round of financial results offer a more nuanced look at the economy after Walmart and Target alarmed investors with downbeat forecasts and warnings that some shoppers are becoming more price sensitive. – Read More on CNBC
5. Why Nordstrom Steamed Ahead as Old Navy Sank: It isn’t entirely surprising that higher earning consumers—who were more likely to have worked remotely during the pandemic—are now shopping for clothes that go along with their travel, socializing and back-to-office plans. – Read More on the WSJ
