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Image: Banana Republic
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1. Retailers Turn to Clothing Rental as Consumer Acquisition Tactic: “Rental is a great way to meet a consumer in her digital environment. It provides an access-oriented way, which younger consumers are really habituated to, to experience their apparel in a reasonable and cost-effective way.” Banana Republic, Ann Taylor, Express, Loft and other clothing retailers are trying it. – Read More on PYMNTS

2. UK brands yet to sign accord on Bangladesh garment workers’ safety: Almost 80 companies including Marks & Spencer, John Lewis, Asos, H&M, Zara’s owner Inditex and New Look have backed the legally binding deal, but Primark, Next and JD Sports among those yet to sign legally binding replacement to 2013 deal. – Read More on the Guardian

3. RELATED READ: As Brands Adopt New Bangladesh Accord, a Look at How Disputes Are Handled by the Legally-Binding Pact. In all likelihood, and given the rising importance of ESG, including in the apparel space, the Accord’s Committee very well may see an increasing number and variety of labor and other ESG-related disputes. – Read More on TFL

4. Why algorithms are struggling to disrupt the world of fashion: The fear that Amazon might overwhelm the business model meant a volatile start in stock prices. But to the benefit of Stitch Fix, Amazon has consistently struggled to sell fashion. Think about the AI-powered camera, the Echo Look. This was supposed to provide style recommendations, but was repeatedly criticized for being misdressed. – Read More on the FT

5. Swiss watchmaker Oris says sales still below 2019 levels: Swiss watch brand Oris said sales were still slightly below the level seen in 2019, the year before the pandemic, due to a patchy recovery in Asia. Meanwhile, the United States and some European markets were doing better than expected. – Read More on Reuters