Daily LInks
1. Secondhand clothing on track to take 10% of global fashion sales. The U. secondhand market grew seven times faster than overall fashion retail where sales were flat in 2023 from a year earlier. – Read More on the Guardian
2. Is time running out for fast fashion? Restrictive new EU legislation now looks like a real risk for clothing companies that have been relying on a high-volume, low-price model. – Read More on the FT
3. RELATED READ: Keeping Up with the Laws of the Fashion, Beauty & Luxury Business in Europe. The European Commission’s goal for the textile sector is to create a greener, more competitive, and resilient fashion industry which respects social and environmental rules. – Read More on TFL
4. Chanel Flap Bag Now Costs More Than €10,000 in Paris. In a sign that some luxury brands are willing to keep pushing prices higher despite weakening demand, Chanel has lifted the price tag of its best-known bag to €10,300 in the French capital. That’s up about 6.2% from €9,700 earlier this year. – Read More on Bloomberg
5. Has the Luxury E-Commerce Bubble Burst? After the pandemic boom, many e-commerce platforms were overstocked and left with mountains of unsold inventory. They subsequently resorted to aggressive promotions and discounting. This pushed heavyweight brands to seek more control over their e-commerce and distribution. – Read More on the New York Times
6. Tod’s investor calls for L Catterton to raise buyout offer. Tod investor Tabor Asset Management has published an open letter calling for an increase in the price offered by L Catterton to buy 36% of the Italian luxury shoemaker, saying the price of 43 euros per share is unfair. – Read More on Reuters
