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1. Coronavirus Unravels Private-Equity Playbook for Some Retailers: Twenty-seven out of the 38 retailers with the weakest credit profiles – more than 70 percent – were owned by private-equity firms on April 20. “Private-equity firms’ aggressive use of debt and drawing of billions of dollars of fees and dividends from retailers has made it more difficult for those retailers to innovate in a changing industry.” – Read More on WSJ

2. Travel changed after 9/11; Here’s how it will look after the Covid-19 pandemic finally recedes. The new travel normal may mean a shift to vacation rentals over hotels, driving rather than flying, and an increase in the use of travel insurance and personal travel advisors. – Read More on CNBC

3. RETRO READ: Travel Retail, a Luxury Cash Cow, Down as Much as 70% in Some Hubs. Airport retail sales amounted to $44 billion in 2019, and Switzerland-based Dufry projects the value of the segment to inch towards $67 billion over the next few years. Given the revenues at are up for grabs (and growing) in this segment of the market, many luxury groups have focused their attention here. – Read More on TFL

4. From the LaFerrari Aperta to the Hermès Birkin Bag: How fictional scarcity creates demand for luxury’s most coveted objects. ““They all have Birkin bags in the back. A Birkin is a reward for being a good customer. They don’t care who you are. You just have to spend money, and you have to know the formula.” – Read More on Robb Report

5. Coty Inc. announced a strategic partnership with global investment firm KKR which will provide Coty with an initial investment of $750 million through the sale of convertible preferred shares to KKR. Additionally, Coty and KKR signed a Memorandum of Understanding for the sale of a majority in Coty’s Professional Beauty and Retail Hair Businesses including the Wella, Clairol, OPI and ghd brands at a contemplated enterprise value of $4.3 billion. – Read More on Business Wire

6. ‘This isn’t the time for wild innovation’: Why nostalgic fashion is selling. “People want something nostalgic and familiar in an unpredictable time, and we’re seeing them gravitate toward basic logos from our brand, as well as items with licensed artwork that have ties to their childhood.” – Read More on Glossy