Daily LInks
1. Gucci Owner Kering in Advanced Talks to Acquire Tom Ford: Kering is the new front-runner in a deal for Tom Ford. The French conglomerate, which acquired Gucci back in 2001 when Mr. Ford was still at the helm, is facing off against Estée Lauder Cos, but “appears to be the front-runner now and a deal could be reached soon.” – Read More on the WSJ
2. It’s time to rethink our approach to luxury fashion: “Posh frugality is a style often aped by fashion, but it’s usually about the look rather than the sensibility. Rather than buying pieces that look pre-worn, maybe we should wear out what we own ourselves.” – Read More on the FT
3. Russian retail sales fall deeper, jobless rate rises in Sept: Russian retail sales plunged 9.8% in September in year-on-year terms after an 8.8% fall in the previous month and the jobless rate increased to 3.9% of the workforce from August’s record low of 3.8%. – Read More on Yahoo
4. What would Shein stores do to the U.S. retail apparel market? Shein’s global sales are forecast to reach $24 billion this year, up from $16 billion in 2021, moving the Singapore-based company past H&M and closer to Zara as the top-selling fast-fashion retailer. – Read More on RetailWire
5. Chinese Fast-Fashion Giant Shein Hires Former Bear Stearns Dealmaker Ahead Of IPO: Donald Tang has worked as advisor for Shein’s CEO and cofounder Chris Xu for over a year, first introduced to the company by Sequoia Capital China founding managing partner Neil Shen, a major Shein investor. – Read More on Forbes
6. Fast Fashion Waste Is Choking Developing Countries With Mountains of Trash: Less than 1% of used clothing gets recycled into new garments, overwhelming countries like Ghana with discards. – Read More on Bloomberg
