Daily LInks
1. China’s Premium Brands Fall Out of Favor With Stock Investors. China’s premium brands are experiencing a downturn in popularity among stock investors due to rising economic uncertainties and changing consumer behavior due to factors like slowing economic growth, increased regulations and increased competition. – Read More on Business Times
2. Apparel Retailer Express Inc.’s Bankruptcy Buyout Gets Court Approval. Phoenix Retail, a new online retailing venture, will acquire most assets of Express Inc., a court document showed, less than two months after the apparel retailer filed for bankruptcy. – Read More on Reuters
3. Adidas Is Investigating Bribery Allegations In China. Adidas has launched an internal investigation into bribery and embezzlement allegations involving senior staff in its China operations, following a whistleblower complaining that accused employees of receiving kickbacks and other illicit benefits from external service providers. – Read More on The Financial Times
4. Major Brands Join Forces To Decarbonize Bangladesh’s Fashion Industry. Major fashion brands including GAP, H&M, Mango and Bestseller have launched the Future Supplier Initiative to decarbonize Bangladesh’s fashion industry. – Read More on The Daily Star
5. Brands Are Beginning to Turn Against AI. It’s hard to guess whether institutional resistance to AI will continue to gather momentum, though between a pattern of high-profile AI failures and a rising distrust in the technology, companies that effectively oppose it in one form or another seem poised to weather the hype cycle. – Read More on Rolling Stone
6. Richemont’s Online Luxury Retailer YNAP To Exit China. Richemont’s luxury e-commerce platform Yoox Net-A-Porter is exiting China due to weak consumer spending and challenged while also focusing on more profitable markets, while its joint venture with Alibaba and Feng Mao is being liquidated. – Read More on Business Times
