Daily LInks
1. Spanish fashion retailer Mango to hand over Russian shops: The first two of the 55 shops Mango was directly operating in Russia will be transferred this week to local partners, as many Western retailers are seeking to get out of the Russian market. – Read More on Reuters
2. Meta is launching a digital clothing store where you can purchase outfits for your avatar: The new virtual store is launching on Facebook, Instagram and Messenger and will allow users to buy digital clothes for their avatars from Balenciaga, Prada and Thom Browne. – Read More on TechCrunch
3. Wealthy consumers begin shunning luxury goods amid soaring prices: “I mean, luxury firms here have been giving all kinds of excuses to raise prices, and it only looks like they want to rip off their customers. They have to know that people are not going to purchase luxury goods all the time.” – Read More on Korea Times
4. Harry Styles to Design for Gucci in Bid for Gen Z Luxury Consumers: Gucci’s parent company recently detailed plans to expand the Italian label’s annual sales to €15 billion from €9.71 billion, largely powered by “the high potential of Young Millennials and Gen Z” consumers. – Read More on the WSJ
5. Escaping The Retail Supply Chain Squeeze: With consumer expectations regarding access to inventory and on-demand delivery having shifted, retailers seem to now face a stark choice between super-dependence on the platforms like Amazon or continuing to operate their supply chains independently. – Read More on Forbes
