1. Chinese Mogul’s $3 Billion Fashion Bet Is Unraveling: For his vision of transforming a small textile maker called Shandong Ruyi into China’s own LVMH, Qiu Yafu spent $3 billion on a wardrobe that ultimately didn’t fit. – Read More on Bloomberg

2. The Metaverse is becoming a platform to unite fashion communities: While Vogue Singapore’s New World enables a more engaging way for users to view and read content, it also allows brands and communities to build better experiences. – Read More on CoinTelegraph

3. Thriving or surviving? The Evolution of E-commerce: Among those facing the biggest post-pandemic challenges are retail subscription brands, which were among those that saw profits skyrocket during the pandemic’s e-commerce boom. – Read More on the Drum

4. Facebook, Beware: The Metaverse Is Flat. While Facebook has sold about 14 million VR headsets to date, millions more have visited the metaverse through regular 2D screens like the one you’re looking at right now, via apps like Roblox and Epic Games Inc.’s Fortnite. – Read More on Bloomberg 

5. In Sotheby’s New Luxury Strategy, Pateks Could Catch Up with Picassos: “Today, luxury is approximately a quarter of [Sotheby’s] business. In 5 years, would it surprise me if the luxury business is twice as large? No, it would not.” – Read More on Bloomberg