Daily LInks
1. LVMH sales growth loses fizz as post-pandemic splurge wanes. “After three roaring years, and outstanding years, growth is converging toward numbers that are more in line with historical average”, LVMH chief financial officer Jean-Jacques Guiony told analysts. – Read More on Reuters
2. The Amazon antitrust lawsuit is likely to be a long and arduous journey for the FTC. A final decision in Amazon case will likely come years down the road, assuming the lawsuit isn’t dropped under a new administration, dismissed by a judge or ends in a settlement akin to the one Amazon reached with European regulators last year. – Read More on ABC News
3. Nike reigns supreme among teen shoppers. Teens’ self-reported annual spending is down 1% to $2,316 compared to last fall, and down 4% from the spring. Male teens report spending 11% more than last fall, while females are spending 8% less. – Read More on CNBC
4. Building the Next Luxury Conglomerate? MadaLuxe Acquires Tequila Enemigo. “We’re a well-diversified, multifaceted luxury platform with multiple operating divisions spanning categories and territories. As long as it’s luxury, that’s our pillar, our stake in the ground.” – Read More on Forbes
5. Luxury Ecommerce 2023. Worldwide personal luxury sales will grow from $415.45 billion in 2023 to half a trillion in 2027. The two largest markets—the US and China—will grow their share to account for 50.6% of total luxury sales by then. – Read More on Insider Intelligence
6. Hong Kong NGO Redress weighs in on fashion’s future. “We are seeing that sustainable design, through upcycling waste materials, is a strong technique and opportunity for Asian and Chinese designers, who are used to high waste rates due to the region’s prolific textile and garment industries, which generate waste even if they are very efficiently run.” – Read More on Jing
