1. FTC seeks information on $8.5B Tapestry-Capri deal. Tapestry agreed to buy Capri in August, as the luxury brands looked to consolidate top labels such as Tapestry’s Kate Spade, Stuart Weitzman and Capri’s Jimmy Choo and Versace under one roof to compete with larger rivals such as Paris-listed LVMH in the European luxury market. – Read More on Reuters
2. Watches of Switzerland bets on second-hand luxury. “We are excited by the opportunity available to us in the pre-owned market, particularly from the new Rolex Certified Pre-Owned program, which we expect to deliver 20% of new Rolex in the U.S. and 10% in the UK by FY28,” CEO Brian Duffy said. – Read More on Yahoo
3. An AI just negotiated a contract for the first time ever — and no human was involved. British AI firm Luminance developed an AI system based on its own proprietary large language model (LLM) to automatically analyze and make changes to contracts. – Read More on CNBC
4. Shein Targets Up to $90 Billion Valuation in US IPO. The company has told prospective investors that it’s aiming to fetch a valuation of $80 billion to $90 billion in a listing, the people said. The timing of the share sale remains uncertain given the market volatility, according to the people. – Read More on Bloomberg
5. It’s Time for Boards to Take AI Seriously. Because AI is so fundamentally disruptive (strategically, operationally, and competitively), the board has an obligation to its shareholders to drive and oversee the change. – Read More on HBR
6. LVMH considers buying back Off-White license from Farfetch. LVMH has been in on-and-off talks with Farfetch in recent months about acquiring the license to make and distribute the fashion brand Off-White. – Read More on Seeking Alpha