Daily LInks
1. China’s Appetite for Luxury Was Waning Even Before the Virus Hit: About 10% of Chinese consumers said they were planning to reduce their luxury purchases in 2020 compared to 6% last year, according to a December survey of 1,599 affluent shoppers. – Read More on Bloomberg
2. Forever 21’s new owners face a slowdown in fast fashion: “The desire for cheap fast fashion has absolutely waned, and consumers obviously want to invest in better quality and better brands … Rental, resale, off-price — those good deals for good quality — is a complete contrast to fast fashion.” – Read More on Retail Dive
3. COUNTERPOINT: No, Forever 21’s bankruptcy does not mean that fast fashion is dying. In reality, fast fashion pioneers like Forever 21 are being replaced by faster, more digitally-fluent brands, such as Boohoo.com, Fashion Nova, and Missguided, which debut thousands of products each week. – Read More on TFL
4. Jane Birkin: Birkin bags are now coveted luxury items that re-sell for hundreds of thousands of dollars — though the woman behind the idea never received royalties for the design. And while her association with the bag means “nothing much” to the actress and singer, she seems unfazed that her name has achieved a fame of its own. – Read More on CNN
5. How French Department Stores – including the soon-to-reopen La Samaritaine – are Courting the 1 Percent: Retailers are wooing high-spending clients with the kind of exclusive experiences previously linked with the rarefied world of haute couture. – Read More on WWD
