1. H&M reaches $36 mln settlement with New York over unused gift cards: H&M will pay $36 million to settle accusations that the fashion retailer illegally kept millions of dollars in gift cards that customers never used, New York Attorney General Letitia James said on Thursday. – Read More on Reuters
2. Is fast fashion impossible to kill? Only 17% of shoppers say they plan to spend less money on fast fashion in the next five years, despite 50% believing it’s harmful for the environment and 43% even admitting they feel guilty for buying from stores like Zara, H&M, and Forever 21. – Read More on Fast Co.
3. Elite Fashion Brands Continue Building in the Metaverse: There’s big money in this space – OpenSea, the NFT marketplace, soared to a valuation of $13.3 billion after a $300M funding round in January. – Read More on Yahoo
4. Rolex, Omega, Zenith – YouTubers are rewriting the rules of how to sell high-end timepieces: While Rolex remains aloof to the power of video influencers, other luxury watchmakers are taking notice and sending timepieces to popular watch vloggers for review. – Read More on SCMP
5. Pakistan bans imports of all non-essential luxury goods: “All those non-essential luxury items that are not used by the wider public, a complete ban has been imposed on their import,” minister Marriyum Aurangzeb told reporters. – Read More on Reuters