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Image: Ferragamo
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1. Salvatore Ferragamo’s Profits Will Line Ad Men’s Pockets: The Milan-listed luxury shoemaker said that operating profits reached €66 million in the six months through June. Meanwhile, its marketing spend in the first half of the year was equivalent to 5.2% of revenue, roughly the same share it spent in the same period of precrisis 2019. – Read More on the WSJ

2. Kris Wu for Louis Vuitton and Bulgari, Zheng Shuang for Prada – in China, when scandal engulfs your brand ambassador you need a new strategy: “Despite the potential risk, hiring a high-profile brand ambassador still remains a very effective way for a brand to build up awareness and draw attention from potential customers.” – Read More on SCMP

3. RELATED READ: From Celebrity Spokesmen to Big-Name Designers, Brands Grapple With How to Deal With “Morals” Issues. In certain instances of endorser misconduct, it may be as simple as pulling online advertisements or no longer allocating future ad spend to the individual at issue. But often, it is more complicated than that, especially when a brand is already involved with an influencer or other famous figure. – Read More on TFL

4. In the past two weeks, two different direct-to-consumer (D2C) sneaker brands – Allbirds and Roger Federer-backed On Holding – have each filed for an initial public offering with the U.S. Securities and Exchange Commission, a sign of how competitive the footwear and apparel market has become. – Read More on PYMNTS

5. Diamond Rebound Rolls on as De Beers Reports Another Bumper Sale: Anglo American Plc’s De Beers said it sold $515 million of rough diamond at its seventh sale of 2021, the biggest total for this time of year since 2016. The company is currently on track for its best year since 2018. – Read More on Bloomberg

6. Lululemon tops revenue estimates: Apparel retailer Lululemon Athletica Inc beat quarterly revenue estimates on Wednesday, benefiting from robust demand for its comfortable pants and sports bras as customers continued to opt for athleisure products despite easing restrictions. – Read More on Reuters