1. France mulls penalties to rein in ultra-fast fashion brands. Fashion brands with ultra-fast product turnover such as China’s Shein should be subject to penalties of up to 50% of their garments’ selling price to offset their environmental impact, French ruling-majority MPs have proposed in a new bill. – Read More on Reuters
2. Why Prices of the World’s Most Expensive Handbags Keep Rising. Not limited to Hermès’ raising the cost of a basic Birkin 25-centimeter handbag in its U.S. stores by 10% to $11,400, eye-watering price increases on luxury brands’ benchmark products are a wider trend. – Read More on the WSJ
3. The Gen Z and millennial rebellion against full-price luxury is hurting Burberry and Kering but propping up secondhand marketplaces. Vestiaire reported 7% growth in the group’s high-end sales last year, in contrast to sluggish sales across much of luxury. Once seen as a niche segment, Bain & Co valued the high-end secondhand market at €43 billion in 2022. – Read More on Fortune
4. Why we’re willing to spend more on beauty products than ever before. For many buyers, a Chanel jacket or dress—which cost thousands of dollars—might be out of reach, but a lipstick from the brand, priced between $42 and $100, might feel like an affordable splurge. – Read More on Fast Co.
5. The RealReal May Have Turned the Corner to Profits in Luxury Resale. The company has built greater efficiencies in its backend operations that are tasked with processing over one million unique SKUs every month. It now uses AI technology in the authentication process and in pricing. – Read More on Forbes