Image: Nike

1. Sell, stow or dump? Retailers wrestle with mountain of unsold stock: Storage is only a realistic option for evergreen “basics” that are not tied to one particular year and could be sold at a later date should consumer demand bounce back – items like underwear, t-shirts, chinos and classic sneaker styles. So, many stores are likely to pursue a combination of holding sales as well selling stock to off-price retailers, depending on consumer appetite, how much merchandise stores have to shift and how fast they must free up space for new collections. – Read More on Reuters

2. Brands Like Nike and Adidas Speak Out Against Racism. Is it Enough? Companies both large and small have faced criticism that their communication is falling short. On Twitter, Nike and Adidas faced criticism for not backing up their statements with financial contributions or concrete anti-racism actions. – Read More on WSJ

3. LVMH’s takeover of Tiffany seen as uncertain: French luxury goods group LVMH’s $16.2-billion takeover of Tiffany & Co. is looking less likely to go through, amid a deteriorating situation in the U.S. market, as LVMH’s board reportedly called a meeting in Paris Tuesday night specifically to discuss the matter. – Read More on CNBC

4. China proposes tripling tax-free allowance to keep luxury spending at home: China has set out plans to hike, very substantially, the annual tax-free spending allowance for its citizens who visit the off-shore duty free island of Hainan. The move would ensure that the Chinese—the most important buyers of luxury goods globally—will increasingly shop for coveted prestige brands within China’s own borders. – Read More on Forbes

5. Coty in Talks With Kim Kardashian After $600 Million Kylie Jenner Deal: The cosmetics company is in talks with Kim Kardashian West for a possible collaboration “with respect to certain beauty products,” according to a regulatory filing. Another tie-up would further entwine Coty in the Kardashian web of reality shows and social media, tying the beauty company’s prospects more tightly to the family’s ability to appeal to consumers. – Read More on Bloomberg

6. Fashion Jumps on Black Lives Matter Bandwagon After Lootings: The luxury-goods industry now faces a public-relations challenge in the U.S. just as it suffers store shutdowns and weakened global demand caused by the pandemic. By voicing solidarity with the black community, brands are trying to gain credibility, despite the risk of appearing crass following the death of George Floyd in Minneapolis. Several of them are still trying to live down racial controversies they sparked in the past. – Read More on Bloomberg