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Image: Ralph & Russo
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1. Hilco to Advise on Sale of Fashion Brand Worn by Meghan Markle: Advisory firm Hilco Streambank LLC will help market the sale of Ralph & Russo Ltd., the British fashion house that was forced into administration by the Covid-19 pandemic. Prospective buyers could include rival fashion houses, sovereign wealth funds, private equity firms and ultra-rich individuals. – Read More on Bloomberg

2. Nike shares fall after mixed earnings report, layoffs news: Nike said it was “focused on shifting resources and creating capacity to reinvest in our highest potential growth areas.” “We are building a flatter, nimbler company and more quickly transforming Nike to define the marketplace of the future.” – Read More on CNBC

3. NFTs for fashion are inevitable: Robert Triefus, an executive vice president at Gucci, said it was inevitable that luxury brands would begin to design NFTs. – Read More on Quartz

4. RELATED READ: NFTs … What Are You Buying and What Do You Actually Own? Ownership of an NFT as a unique token – versus ownership of the content that such NFT may be associated with – is a critical distinction. When someone purchases an NFT tied to a piece of content, they have not automatically purchased the underlying intellectual property rights in such piece of content. – Read More on TFL

5. Inside Vogue, where women have the top jobs but men still rule: The pay is notoriously low unless you’re high up (a popular joke played on how much independent wealth was needed to sustain a career at Vogue: one girl says to another, “I’ll have to get a real job, Daddy can’t afford to send me to Vogue any more”). – Read More on the Guardian

6. Americans are starting to buy real clothes againRetailers say they’ve noticed a growing interest in trendy tops, wide-leg jeans, even resort wear and swimsuits, as Americans prepare to head back to the office, book summer vacations and make other post-pandemic plans. – Read More on Washington Post