Daily LInks
1. The biggest U.S. mall owner, Simon Property, sues Gap over skipped rent payments: Simon Property Group is suing Gap for failing to pay more than $65.9 million in rent and other charges due during the coronavirus pandemic. The court battle highlights the mounting tension between retail landlords and their tenants. – Read More on CNBC
2. Amazon, Otrium Address Fashion Inventory Issues: According to McKinsey, the value of excess inventory from spring/summer 2020 collections is estimated at €140 billion to €160 billion worldwide (between €45 billion and €60 billion in Europe alone) — more than double the standard level for the sector.” – Read More on PYMNTS
3. Charlotte Tilbury Bags a Fortune With Star Power and Magic Cream: Barcelona-based perfume maker Puig said it would acquire a majority stake in the label. While financial details weren’t disclosed, a person familiar with the matter said the deal values the business at more than 1.2 billion pounds ($1.5 billion). – Read More on Bloomberg
4. As Protests Mount, the Fashion Community Must Look Inward: “Just as our shared experience of the coronavirus pandemic caused many to rethink our relationship to the products we purchase, the epidemic of police brutality and racism will alter the way we consume … The real danger will come when consumers undertake a mass reassessment of the brands they support and invest in.” – Read More on Vogue
5. First the pandemic hit them. Now retailers and restaurants have to rebuild after protests: The protests have only added to retailers’ mounting list of challenges as some stores have been damaged and looted or had to close early because of curfews. – Read More on CNBC
