Image: Prada

1. Companies Leaving Russia Don’t Know If and When They’ll Return: The chaotic unwinding has left companies wondering whether they’ll ever return, how they’ll pay for workers and assets left behind, and whether they might recoup the value of their abandoned businesses in a country that has almost overnight become the world’s most sanctioned nation. – Read More on Bloomberg

2. RELATED READ: In an earnings call on Monday, Prada Group management confirmed that its stores are currently closed in Russia and “indicated their interest in continuing to operate in Russia if the situation allows in future.” – Read More on TFL

3. Former Disney chief Bob Iger enters metaverse through investment in Genies: Genies, popular among celebrities such as Rihanna, Lil Nas X and Jennifer Lopez, said it owns 99% of the celebrity avatar market share and includes Universal Music Group and Warner Music Group as clients, for whom it also makes NFTs, or non-fungible tokens. – Read More on Reuters

4. Is the African Fashion Industry Ready for the Metaverse?  “Intellectual property for African fashion brands appears to have a promising future in the metaverse, which will usher in new types of intellectual property rights. However, the present legal framework is grossly inadequate and there’s an urgent need to review the existing IP regime across Africa to meet the needs of the fashion industry.” – Read More on OkayAfrica

5. Amazon’s Share of US eCommerce Sales Hits All-Time High of 56.7% in 2021: Nearly 60% of all online retail purchases in the U.S. were done on Amazon last year, reflecting the company’s tightening grip on eCommerce sales and a continuation of the stair step market share advance it has made over the past twenty years. – Read More on PYMNTS