Daily LInks
1. Second Epstein Investigation Begins at Victoria’s Secret: Wachtell, Lipton, Rosen & Katz was investigating “allegations raised in shareholder demand letters and civil complaints concerning, among other things, connections between L Brands and Jeffrey Epstein.” The new investigation is the latest jolt for L Brands and Victoria’s Secret, months after the pandemic foiled a plan to sell the lingerie brand to a private-equity firm. – Read More on the New York Times
2. RELATED READ: Victoria’s Secret’s “Toxic Culture of Sexual Harassment” At Center of New Lawsuit Against Parent Company L Brands. While John Giarratano’s books and records request may – at first glance – have appeared to have little to do with Victoria’s Secret’s ongoing slaughter-by-media, that was precisely the impetus for the action. “After learning about the toxic culture of sexual harassment, discrimination, and retaliation that for years has plagued [L Brands’] flagship brand, Victoria’s Secret,” Giarratano sought to “investigate potential wrongdoing by [L Brands] and its board of directors.” – Read More on TFL
3. Farfetch is Far More Than a Luxury Store: Farfetch allows luxury firms to maintain ownership over their brands and leverage its scale to sell online via a B2B marketplace platform that is comparable to services offered by Amazon and Shopify. With over 2.5m active customers, and having made investments into technology and logistics, the company is well-placed to be the online marketplace platform of choice for luxury brands. – Read More on Seeking Alpha
4. Hermès questioned by animal welfare groups over Australian crocodiles farm: The high-end French fashion brand Hermès wants to build one of Australia’s biggest crocodile farms in the Northern Territory that would hold up to 50,000 saltwater crocodiles to be turned into luxury goods such as handbags and shoes. – Read More on the Guardian
5. Target Grabs Sales From Rivals Amid Pandemic: Big-box stores such as Target and Walmart have generally fared well during the pandemic, enticing shoppers with a one-stop place to shop. In contrast, many department stores and apparel retailers—already weakened by the shift to online shopping in recent years—have struggled after having to close early in the pandemic. – Read More on the WSJ
6. Europe’s consumer companies brace for new pandemic curbs: Europe’s consumer sector stalwarts such as LVMH, Kering, and H&M, which reported signs of recovery in the most recent quarter, now face another hit to demand as several European countries impose new restrictions to fight a surge in COVID-19 cases. – Read More on S&P Global
