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Image: Armani
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1. How the NFT Boom and Luxury Fashion Brands Are Aiming for Success: Currently, the best example of NFT is when it is sold as a twin (digital product) of a physical one. “The winning bidders will receive the corresponding real-life dresses, and both the NFTs and the physical garments are one-of-a-kind.” – Read More on Forbes

2. RELATED READ: From Royalties to Resale Restrictions, What Would Tying NFTs to Luxury Goods Look Like? While “the tokenization of physical items is not yet as developed as their digital counterparts,” blockchain platform Ethereum states in a “use case” report that NFTs “can be used to represent ownership of any unique asset in the digital or physical realm,” and asserts that “there are plenty of projects exploring the tokenization of real estate, one-of-a-kind fashion items, and more.” – Read More on TFL

3. China wealth plans threaten European luxury stocks’ post-COVID boom: Demand for high-end products in the world’s most populous nation is the main driver for the sector, accounting for a third of European luxury goods makers’ sales in 2019 and 28% in 2020, according to UBS analysts. – Read More on Reuters

4. Giorgio Armani Says Company’s Independence Is Essential: The independence of the Armani fashion house is “an essential value,” designer Giorgio Armani, founder and sole shareholder of the company that bears his name, said in connection with enduring reports (including from this site) that his company may be looking for a buyer. – Read More on Bloomberg

5. RETRO READ: Giorgio Armani Hints at an Acquisition, Could Exor N.V. Be the Buyer? A push by Exor into luxury makes sense in light of the sheer depth of Exor and the Agnelli family’s understanding of – and connections in – that sphere. As we previously noted, the expertise that the group has built as a result of its majority ownership of Ferrari – which operates more in the luxury space than the traditional auto market – is integral to Exor’s quest to build time-tested, valuable companies, and could easily be applied to building more fashion-oriented luxury brands. – Read More on TFL

6. ‘Circular’ fashion: Greenwashing myth, or attainable goal? “Circularity is an exciting opportunity, where it is genuine – but it has been hijacked. For example, there is this idea that plastic is infinitely recyclable, and that’s just not the case.” – Read More on the Guardian