Daily LInks
1. A Tidal Wave of Bankruptcies Is Coming: This year will easily set a record for so-called mega bankruptcies — filings by companies with $1 billion or more in debt. Experts expect the number of large bankruptcies — at least $100 million — to challenge the record set the year after the 2008 economic crisis. – Read More on the New York Times
2. Saks to Reopen Fifth Avenue Flagship With UV Handrail Cleaners, Video Shopping Service: “To set the tone in creating a safe and healthy environment for our customers, we knew we would have to exceed the minimum requirements,” Saks President Marc Metrick said. “Feeling safe is as important to luxury as it ever will be.” – Read More on the Wall Street Journal
3. Jail time for role in supplying luxury goods to N. Korea: A 32-year-old man whose father owns a department store chain in North Korea has been jailed for four weeks for his role in helping to source luxury goods from Singapore in an operation that breached United Nations sanctions. – Read More on Straits Times
4. RETRO READ: As North Korea Continues to Boost its Imports, a Look at the Role of Luxury in the Hermit Kingdom. Western luxury products – including leather goods and watches, as well as cars and upmarket electronics – made up almost 20 percent of North Korea’s total imports for 2016. Meanwhile, the country’s elite import $640 million worth of luxury goods in 2017. – Read More on TFL
5. The fashion industry must stop exploiting the cultures of the people it so often dismisses: High fashion brands repeatedly take “inspiration” from cultures, while at the same time, subjecting ethnic minorities to racist treatment in the fashion industry. – Read More on the Telegraph
6. Bentley Doubles Space for Parts Amid Brexit Trade Talks Concern: Luxury automaker Bentley said it has doubled warehousing capacity in a move that will help it cope with potential disruption if Britain fails to strike a trade deal with the European Union by a year-end deadline. As of last year, other brands, such as Burberry, and LVMH Moet Hennessy Louis Vuitton-owned companies, are doing the same. – Read More on Bloomberg
