Daily LInks
1. Macy’s, Gap and Other Clothing Stores Are Stuck with the Wrong Items: Shoppers have shifted their spending from the casual clothes and home items that had been in demand during the height of the pandemic, leaving retailers with excess goods that need to be marked down. – Read More on the WSJ
2. ByteDance Said to Weigh Sale of Stake in Sneaker Reseller Poizon: The TikTok owner is considering selling a minority stake in Poizon, an online marketplace for sneakers, which is valued at over $10 billion. – Read More on Bloomberg
3. Thefts, Fraud and Lawsuits at the World’s Biggest NFT Marketplace: Because OpenSea collects a fee from each NFT sale, some users argue that the company has a financial incentive not to clamp down on the sale of stolen goods. – Read More on the New York Times
4. RELATED READ: Are NFT Marketplaces Doing Enough to Address Alleged Infringements? More than signifying critical issues with existing laws, the proliferation of NFTs tied to allegedly infringing works seems to more clearly indicate NFT marketplaces’ inability to prepare for and subsequently address the sheer spike in minting and sales transactions. – Read More on TFL
5. Kering sets plan to boost Gucci brand in China: Investors are closely watching the Chinese market, set to become the biggest for the luxury sector by 2025, to gauge how much pandemic containment measures have impacted demand for high end fashion and accessories. – Read More on Reuters
6. The RealReal Founder Julie Wainwright Resigns as CEO, Board Chair: Wainwright said the company was making progress on its path to profitability and she felt it was the right time to find the next generation of leadership for the company. – Read More on the WSJ
