Daily LInks
1. How Luxury Rental Services Are Changing Our Relationship with Fashion: “The luxury borrowing industry is booming,” Blake Geffen, the founder of Vivrelle said. The handbag rental co. currently has a waitlist of 8,000 users and counting. – Read More on Elle
2. Retailers to Roll Out the Red Carpet for High-Spending Chinese Tourists, Now Free to Travel Abroad: This is welcome news not just for Chinese travelers and airlines but also overseas retailers, particularly luxury goods retailers. The Chinese have historically been the world’s biggest spenders while traveling abroad. – Read More on US Funds
3. Retail M&A sinks in 2022: Diving deeper, deal value in the consumer products and services sector fell 44% while values in consumer staples fell 37%. The number of deals was also down, with a 24% dip in the retail space, a 14% decline in consumer products and services, and a 19% fall in consumer staples. – Read More on Axios
4. Online Sales Growth Chugs on Despite Gloomy Forecasts: According to the data, liberation from COVID restrictions that sent consumers flooding back to brick-and-mortar stores did not prevent growth in online purchasing, which in fact grew. – Read More on PYMNTS
5. European shares clock third day of gains on upbeat economic data: China-exposed luxury companies LVMH and Richemont rose 5.0% and 2.4%, respectively, lifting the index. – Read More on Reuters
