Daily LInks
1. Boohoo says fast-fashion retailer was victim of own rapid growth: Its executives defended a recent Black Friday “99 per cent off” promotion that saw clothing and accessories sold for literally pennies, describing it as “a marketing tactic.” – Read More on the FT
2. For H&M, the future of fashion is both ‘circular’ and digital: “I see three main parts making up a circular ecosystem within the fashion industry: circular supply chains, circular products, and circular customer journeys. There are exciting innovations within each of those parts.” – Read More on McKinsey
3. The Coronavirus-Era Shopping Response to a Downturn: Trade Up. “Since Covid hit, you’ve had a tendency from consumers to buy less, but buy better. Unlike after 9/11, which made spending on luxury seem vulgar and inappropriate, today there is no stigma.” – Read More on the WSJ
4. Canadian fashion mogul Peter Nygard arrested on federal sex trafficking charges: Federal authorities alleged Tuesday that a Canadian fashion designer used his company to prey on girls and young women that they say he sexually assaulted and used to serve friends and business associates. – Read More on NBC
5. Boutique fashion retailer Mon Purse collapses: Leather accessories brand Mon Purse has collapsed after it encountered supply issues amid the Covid-19 pandemic that left customers waiting weeks for their items. The brand has raised more than $9 million from funding rounds and has been backed by heavyweights. – Read More on Yahoo
