Daily LInks
1. The myth of the high-growth fashion startup. ThredUp, Poshmark, and Warby Parker have gone public this year, but their financials show how hard it is to be profitable and scale at the same time. Meanwhile, Everlane, Away, and Glossier have collectively raised upward of half a billion dollars in venture funding, so their investors may be looking for a payday soon. – Read More on Fast Co.
2. ASOS boss exits as fast fashion retailer warns on profit: The British online fashion retailer, parted ways with CEO Nick Beighton on Monday as it warned that supply chain pressures and consumers returning to pre-pandemic behavior could reduce 2022 profit by over 40%. – Read More on Reuters
3. ‘Made in the USA’ brands fight for your attention online: Apparel has a strong future in e-commerce, with people in the US buying more than 46% of their clothing and accessories online in 2020. However, domestic goods only accounted for 2.3% to 3.5% of all apparel sales in the US in 2020, according to the American Apparel and Footwear Association. – Read More on CNET
4. Michael Jordan’s Rookie Nike Sneakers Expected to Sell for at Least $1 Million: The high-end sneaker auction market has exploded in the past few years. The sneaker resale market itself is expected to reach $30 billion by 2030, and Sotheby’s is trying to carve out the top 5% of the high-end sneakers market. – Read More on the WSJ
5. How Peloton builds a community around health and wellness to craft its brand: Peloton uses its now-famous team of instructors to connect with members. The trainers are active across social media platforms and frequently interact with members online. – Read More on CNBC
