Image: Birkenstock

1. Why high fashion finds this functional footwear brand irresistible: Birkenstocks may seem incongruous with luxury, the brand has become a magnet for high fashion labels — even more so since the beginning of the pandemic, when consumer appetites shifted toward extreme comfort. – Read More on CNN

2. Retail sales will grow this year, but at a slower rate than in 2021: Retail sales are expected to grow between 6% and 8% in 2022, as consumers spend more on services instead of goods and cope with inflation, the National Retail Federation said on Tuesday. – Read More on CNBC

3. Luxury goods sanctions seen testing Italian solidarity: “There are 20,000 companies in Italy that trade with Russia, and not all of them can absorb the blow easily.” Luxury entrepreneurs across the country seem to be among the most worried. – Read More on EU Observer

4. RELATED READ: Russia May Look to the Grey Market as Supply Runs Low Amid Sanctions, Boycotts. Aside from a potential spike in the availability of illicit goods and services – from fake designer handbags to branded sneakers (and maybe even the unauthorized operations of makeshift “Starbucks” outposts), there will likely also be an influx of grey market goods. – Read More on TFL

5. As COVID Spikes in China, Could Luxury Sales Stumble? Naturally, some brands have been affected: Prada, which had planned to open a special market in Shanghai, has now canceled this event. Apple will also likely be impacted due to its supplier, Foxconn, halting factory production in Shenzhen. – Read More on Jing Daily