1. No one wants to buy luxury goods online anymore. Website visits to Burberry.com have fallen every single month of 2023. Gucci.com hasn’t had a positive month since January 2022. – Read More on the FT
2. AI Needs Rules, but Who Will Get to Make Them? The U.K.’s AI Safety Summit highlighted the outsize role that AI companies are playing in the conversation about regulation – at the expense of many who stand to be affected but lack a financial stake in AI’s success. – Read More on Scientific American
3. The circular economy promises to remake retail. Why is it so hard to trust? For other companies, even if sustainability isn’t a key differentiator, brand-owned resale sites can help capture some of the value that would otherwise go to secondhand markets. – Read More on TechCrunch
4. Sustainable alternatives key to combating fast fashion’s environmental toll, study finds. One of the study’s key findings highlights the potential of the second-hand clothing market as an eco-friendly way to deal with the fast fashion conundrum. – Read More on Phys.org
5. Why The Fashion Industry Underwent Merger Mania In 2023. Rising rates, sticky inflation and the prospect of slowing consumer spending have sparked a flurry of deals in the fashion industry as companies look to mergers and acquisitions for growth. – Read More on CNBC
6. The Hermès Game: how the luxury house is defying the slowdown. Hermès, by contrast, has more buyers than it can handle for its high-end handbags, largely insulating it from downturns. – Read More on the FT