Daily LInks
1. Fashion brands pause use of sustainability index tool over greenwashing claims: There is no information about whether a garment will release microplastics or if its biodegradable. “The Higg SMI does not enable consumers to make informed decisions. It’s derailing all the efforts of everyone involved.” – Read More on the Guardian
2. EBay stock downgraded as UBS worries about potential recession impacts on e-commerce: Analysts see “greater macro sensitivity” for the e-commerce space in a modern recession, whereas e-commerce was still a small portion of overall retail sales during the financial crisis. – Read More on MarketWatch
3. Metaverse: Open for business? The metaverse is increasingly part of companies’ M&A strategies. In December 2021, Nike announced its acquisition of digital design studio RTFKT, which the sportswear company says it hopes will help it explore the possibilities presented by the metaverse. – Read More on MIT Tech Review
4. Crypto is crashing but the tech behind it could save luxury brands billions: Creating a “digital twin” for physical products like shoes or handbags, Aura’s software compiles a ledger of information such as the material type and source, where and when it was made, and how many were produced. – Read More on CNN
5. Legacy fashion brands overshadowed by sportswear, luxury goods makers: The so-called “big 3” fashion firms ― Samsung C&T Fashion Group, LF and Kolon FnC ― have recently been losing their market shares to sports brands like Fila and Adidas and international luxury firms like Louis Vuitton and Gucci. – Read More on Korea Times
