Daily LInks
1. In Luxury Market, Being Amazon Is Still a Burden: Amazon is off to a slow start in its latest effort to woo luxury goods onto its platform. Big luxury brands are moving to take back control of their e-commerce business, cutting back the inventory retailed by third-party sellers such as Mr. Porter, Farfetch or department-store websites rather than their own e-commerce platforms. – Read More on WSJ
2. Burberry’s recovery doesn’t check out: When Burberry revealed in 2018 that the designer Riccardo Tisci was taking over from long-time creative director Christopher Bailey, shares in the brand leapt 5%. However, just as his turnaround was starting to take shape, the pandemic hit. Sales at the FTSE 100 group, known for its distinctive check pattern, plunged. – Read More on the Sunday Times
3. Fashion insiders reveal how COVID-19 is altering the industry: Many brands have chosen to cultivate a more direct relationship with their customers digitally, selling them products directly through their own online stores and maintaining the flexibility to decide what inventory to highlight. – Read More on Fast Co.
4. Sinéad Burke: “My goal was to change the entire fashion system.” The combined spending power of the disabled market, Burke likes to point out, is as big as China’s, yet it is chronically underserved by the fashion industry. “Knowing that, my goal was never to create a line of clothing that I could wear. Rather, it was to change the entire system – which tells you everything you need to know about my personality, really.” – Read More on the Guardian
5. Everyone Is Buying Designer Handbags for the Apocalypse: “Hermès bag sales are up 60 percent, and they are selling for 18 percent more per bag on average,” Tracy DiNunzio, CEO and founder of Tradesy, an online reselling business. “Louis Vuitton bag sales are up 123 percent, with an average price per bag up 104 percent.” – Read More on InStyle
6. RETRO READ: Five Key Things that Are Expected to Shape Fashion and Luxury in the Wake of COVID-19. Luxury goods companies have no choice but to rethink their strategies in order to weather a more severe crisis for the sector than the financial crisis of 2007. Many consumers will face a reduction in their financial resources and that could put a hold on their purchases. This situation may force luxury houses to reduce the number of collections and products offered each year. Consumers could even reconsider the concept of ownership and shift toward rental services. – Read More on TFL
