Daily LInks
1. Valentino chairman says rich people’s fear of death after the COVID pandemic will spur them on to keep fueling luxury sales: “After the pandemic, rich people are more aware they are going to die and want to spend the money on luxury and more exclusive things.” – Read More on Fortune
2. Will Buy Now, Pay Later Dominate Future Retail Sales? As inflation causes retail prices to rise on most products, consumers are looking for an easy, flexible way to afford big ticket items they need or want to purchase. – Read More on the Street
3. U.S. retailers’ ballooning inventories set stage for deep discounts: At Gap Inc., a 34% spike in inventories was caused by poor sales at Old Navy and longer transit times for goods, CFO Katrina O’Connell said Thursday. – Read More on Reuters
4. Cybercriminals target metaverse investors with phishing scams: While metaverse platforms are increasing their security measures and educating consumers about fraud prevention, they say they’re not responsible for refunding money to phishing scam victims. – Read More on CNBC
5. Can Adidas Be Luxury? Balenciaga and Gucci Say Yes: According to an Adidas rep, these premium collaborations are part of a new brand strategy the company announced last year. Brian Grevy, Adidas executive board member responsible for global brands, said in March 2021 that luxury designs “inspired by Adidas and worn for status” helped create brand heat. – Read More on the WSJ
