Daily LInks
1. Will We Buy Mostly Vintage Clothes in the Future? The already thriving resale market is expected to more than double, from $24 billion in 2018 to $51 billion by 2023. “When I started nine years ago, people didn’t want you to know they had bought resale. That stigma is completely gone. People buy to resell afterward.” – Read More on the WSJ
2. H&M delivers first annual profit rise since 2015: Big investments in logistics, digital technology, new store concepts and independent brands to meet changing shopping habits and tougher competition have “contributed to continued positive sales development with more full-price sales, lower markdowns and increased market share.” – Read More on CNBC
3. Fast Fashion Isn’t Dead Yet — And Could Find Retail Rebirth: Fast fashion is certainly not dead yet, even if reports of it dying are easy to find. In 2018 alone fast fashion as a segment of the apparel industry brought in over $35 billion. – Read More on PYMNTS
4. RETRO READ: The rise and success of entities like Boohoo is significant as it shows that despite increased attention to the social and environmental hazards that come with the fast fashion model and a rise in cause-conscious consumers, sluggish growth by the former fast fashion pioneers – from Forever 21 and H&M to Topshop and Primark – is not representative of a movement away from fast fashion altogether. – Read More on TFL
5. Fashion’s dirty microplastics secret: No one knows exactly how much microplastic pollution comes from fashion, but the $167 billion athleisure category and polyester-fueled fast fashion are some key contributors. – Read More on Vogue Biz
6. Forever 21 Proposes Auction to Keep Fashion Chain in Business: Bankrupt retailer Forever 21 asked a bankruptcy court to approve plans to sell “substantially all” of its assets to a buyer who might keep the chain in business. Authentic Brands Group and Simon Property Group were mulling a plan to acquire the retail chain, but that there was no guarantee the various sides would agree on terms. – Read More on Bloomberg
