1. Beauty brands were quick to tout diversity during summer protests, but the commitment was short-lived: The majority of beauty brands have gone back to their pre-BLM norms. A complicating factor is that companies increasingly rely on influencers for their social media content, but many brands tend not to feature creators with dark skin tones. – Read More on Fast Co.
2. LVMH Saves Face but Little Money in Tiffany & Co. Deal: The French company does avoid the risk of reputational damage from potentially losing a court battle involving Tiffany & Co. LVMH chairman Bernard Arnault’s reputation as a savvy deal maker is scratched, although not seriously damaged. It is Tiffany that has come through the affair looking shiny. – Read More on the WSJ
3. This New Pre-Order Site Paves the Way for a Slower, “Gentler” Fashion Industry: ““We’ve been taught by the high-street brands that you can see something on the runway and get it for $60 next week. It’s really time to unpick those habits, because someone is suffering in that equation. More than one person is suffering.” – Read More on Vogue
4. Here’s How French and German Covid-19 Lockdowns Could Rattle Luxury-Goods Sales: The sector will face more headaches if France and Germany’s curfews are just the beginning. The “increasing risk of lockdowns in other European countries in the largest quarter of the year (on average ⅓ of annual sales) is likely to be taken negatively for the luxury sector,” meaning negative earnings revisions, say the analysts. – Read More on Barron’s
5. Virtual Influencers Make Real Money While Covid Locks Down Human Stars: Seraphine’s follower count is nearly 400,000 and she’s making appearances in Shanghai to promote her music, while most flesh-and-blood social-media stars are stuck at home. Despite not being real, she still sometimes wears a mask. – Read More on Bloomberg
6. RETRO READ: Virtual Models/Influencers are Landing Major Jobs & Making Real Money in the Process. Considering that a whopping 91 percent of luxury brands rely on influencer marketing and given various advances in technology, “which make it increasingly difficult to distinguish the real from the fake when navigating the online world,” it is arguably just good business for companies to be building influencers of their own. – Read More on TFL