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1. New York’s Fashion Act Gets a Makeover—Is It Enough? The updates to the bill include stronger requirements for chemical use and climate targets, more specific due diligence criteria and expanded enforcement provisions. The amended bill also now provides for joint and several liability between fashion sellers and garment workers. – Read More on Vogue

2. Aditya Birla’s fashion unit to open Galeries Lafayette stores in India: The Indian firm said it would open two flagship stores – one in Mumbai by 2024 and another in New Delhi a year later – housing over 200 luxury and designer brands. It added it will also launch an e-commerce platform. – Read More on Reuters

3. Metaverse could pump $1.4 trillion a year into Asia’s GDP, report says: The metaverse’s contribution to gross domestic product in Asia could be between $800 billion and $1.4 trillion per year by 2035, according to Deloitte. – Read More on CNBC

4. EU Trademark Appeals board rules in favour of challenged Banksy trademark: A board of appeal has reversed a decision which attempted to render the trademark for the British street artist Banksy’s famous monkey sign image “invalid.” – Read More on the Art Newspaper

5. Macy’s profits from wealthy shoppers, Kohl’s feels inflation pinch: Upscale U.S. retail chain Macy’s Inc raised its annual profit forecast on Thursday on resilient demand for high-end clothes and beauty products, while the inflation squeeze on lower-income shoppers forced rival Kohl’s Corp to scrap its forecast. – Read More on Reuters