Daily LInks
1. Michael Kors and upscale brands from Ralph Lauren to Coach are realizing that if they want to be seen as luxury, they have to act as such — even in a pandemic. These upscale brands are likely making the right call by sticking to their guns on pricing. Each has been on a years-long journey to solve the problem of overexposure, using various tactics to try to regain their cachet by becoming less ubiquitous but more luxurious. – Read More on Bloomberg
2. RETRO READ: Michael Kors Wants to Boost its Luxury Credibility, So It’s Going on a Shopping Spree. By acquiring Versace, a well-respected Milan-based brand, Michael Kors is not only pursuing its strategy to grow, but also employing diversification tactics geared towards luxury, a sector that is growing faster than companies selling to general consumers – which is precisely where Kors’ brand and the group as a whole is positioned today. – Read More on TFL
3. UK to big brands: do more to avoid forced labor in China’s Xinjiang. British lawmakers on Thursday urged big brands – from Gap to Zara – to ensure high-street fashion was not made from cotton picked by Muslims held in camps in China’s Xinjiang region. About a dozen fashion brands were asked by a committee of lawmakers to explain how they were tackling the risk of modern slavery in their supply chains. – Read More on Reuters
4. Fashion’s Diversity Experts on How the Industry Can Avoid Tone-Deaf Missteps: “I think the notion that fashion was exclusive is exactly where we went wrong. Where we thought only a certain type of person could model on a runway or be shown in ads or be on certain types of teams. There was this facade that fashion was homogeneous in nature, that there was one standard of beauty and fashion.” – Read More on Yahoo
5. Coronavirus Prompts Rent the Runway to Think Beyond Rentals: Rent the Runway is raising a new round of financing and is focusing on selling clothes, not just renting them. Several other e-commerce sites that sell used clothing are preparing to raise additional funds from investors. In recent weeks, both Poshmark Inc. and ThredUp Inc. have said they filed paperwork with the Securities and Exchange Commission for IPOs. – Read More on the WSJ
