Daily LInks
1. Facebook Helps Zara Owner Sell Clothes Using Video Games: Inditex is responding to the shift from physical stores to online sales by teaming up with Facebook and Instagram to develop “Pacific Game” to attract younger buyers to its Pull & Bear brand, and it’s not about clinching a direct sale but building a relationship with younger customers. – Read More on Bloomberg
2. If 2021 kills fast fashion, Hong Kong’s garment industry could come back to life: Once a major employer and trade component of Hong Kong’s economy, the remains of the rag trade is still deeply rooted in Kowloon. Imported fast fashion is fast becoming old fashioned, opening up opportunities for Hong Kong to re-establish itself as Asia’s fashion hub. – Read More on SCMP
3. China says retail sales grew 17.7% in April, missing expectations: Retail sales rose 17.7% last month from a year ago, the National Bureau of Statistics said Monday. That missed expectations of 24.9% growth in April, as “employment, household income, consumption, manufacturing investment, (the) service sector and private firms have yet to come back to the pre-Pandemic level.” – Read More on CNBC
4. Shoppers already love Chinese brands — they just don’t know it yet: The “Made in China” of cheap, brandless, low-quality stuff is ending. Chinese companies are flocking into overseas markets, but with a twist: Many of their devoted customers don’t know they’re from China. – Read More on Protcol (via Redef)
5. 1stdibs.com files for Nasdaq IPO: New York-based 1stDibs.com, which sells luxury goods like diamond accessories and vintage paintings, could seek a valuation of more than $1 billion. Its backers include Benchmark Capital, Insight Partners, T. Rowe Price Group Inc., Spark Capital and Index Ventures. – Read More on Bloomberg
