Daily LInks
1. Fashion after Covid-19: Could we be on the brink of a more mindful fashion industry? “We’ve just been going, going, going non-stop since our launch in 2017/ We haven’t had a chance to sit down or look at long-term strategy. In a way, it’s been quite useful to have this time to get off the hamster wheel and figure out what our next step is.” – Read More on the Telegraph
2. China Millionaire Livestreamer Viya Shows Online Shopping Future: Each night, Viya’s audience places orders worth millions of dollars—typically for cosmetics, appliances, prepared foods or clothing, but she’s also moved houses and cars. – Read More on Bloomberg
3. Walmart Wants to Turn Rags Into Riches: Consignment retail startups have come alive since the Great Recession, prompting the launch of websites and apps like thredUp, Tradesy, Poshmark and The RealReal, aimed at modernizing the resale market eBay pioneered back in the mid-90s. Now, while the coronavirus pandemic might hamper sales in the near term, the promise of consignment shopping amid a deteriorating economic backdrop seems too compelling to ignore. – Read More on WSJ
4. Read Nike CEO John Donahoe’s note to employees on racism: We must “get our own house in order.” To be sure, the company has arguably fallen short and has been criticized in the past for lack of diversity among its own ranks, and poor treatment of employees — particularly women. And some have said Nike’s marketing rings hollow because of this. – Read More on CNBC
5. RETRO READ: Woke Washing – What Happens When Marketing Communications Don’t Match Corporate Practice. Historically brands have not engaged in social and political conversations for fear of potentially alienating customers, but our current research shows savvy brands are recognizing that marketing budget spent on good causes can have the greatest reach and impact. However, while consumers expect big brands to take a stand, they may not believe them when they do. – Read More on TFL
6. Gap Inc. Q1 loss nears $1 billion: As with other apparel retailers and brands, having little opportunity to sell spring and summer styles, Gap is “packing and holding” some inventory for upcoming seasons. But that strategy, coupled with a lawsuit filed this week by mall operator Simon Property Group over unpaid rent, muddies the company’s future, according to Wedbush analysts led by Jen Redding. – Read More on Retail Dive
7. Brooks Brothers Readies For Bankruptcy: Brooks Brothers is in talks with banks about securing cash for a potential bankruptcy that could come within weeks, as COVID-19 has crushed sales for the 202-year-old retailer. – Read More on PYMNTS
