Daily LInks
1. Richemont Set for Strong Q1 Sales as Hard Luxury Leads the Charge: Cartier owner Compagnie Financiere Richemont SA is scheduled to report revenue results for the first quarter of its fiscal year to June 30. The Swiss luxury-goods giant is forecast to book sales of 4.11 billion euros ($4.87 billion) for the quarter, according to a consensus of seven analysts. – Read More on MarketWatch
2. New York’s retail rents set another record low: Leasing velocity has now decelerated for eight consecutive quarters, according to CBRE’s tracking of 16 major retail corridors in Manhattan. The number of direct, ground-floor availabilities increased to 290 during the second quarter, from 275 locations in the prior period. This marks a record-high availability of retail space. – Read More on CNBC
3. The fashion industry can’t allow this life-saving legislation to expire: Despite the previous extensions of the Bangladesh Accord, brands are now dragging their feet on a further renewal. Out of over 200 signatories, only five have committed to extending and, importantly, expanding the accord: ASOS, G-Star, Tchibo, KiK, and Zeeman. – Read More on Dazed
4. RELATED READ: 8 Years After the Rana Plaza Tragedy, What Has Changed for Bangladesh’s Garment Workers? The industry vowed to do better. Within a month, 222 companies signed the Accord on Fire and Building Safety in Bangladesh, a legally binding agreement meant to ensure garment workers had safe workplaces. And while, things have improved, they have not improved enough. Eight years on, the fundamental problems in global supply chains – the disconnect between profits, accountability and responsibility – remains. – Read More on TFL
5. Sony Music sues Gymshark for misusing ‘hundreds’ of songs in ads: Sony Music accused British fitness apparel startup Gymshark of infringing its copyrights by misusing music from some of its most popular artists — including Beyonce, Britney Spears, Travis Scott, and Harry Styles — in social media ads, in a lawsuit filed in California federal court on Thursday. – Read More on Reuters
