Daily LInks
1. How Louis Vuitton’s Virgil Abloh And Mercedes-Benz’s Gorden Wagener See the Future of Luxury: “The idea of luxury is ever changing, but something that remains consistent is the notion that the things we personally perceive to be luxurious are really things that we covet.” – Read More on Forbes
2. COVID Fees Are Cropping Up at Businesses and the Majority of Consumers Are Not Happy About It: Industry experts suggest alternative routes to recoup costs, such as increasing menu prices at restaurants, a practice that most consumers likely already accept as a necessary move for businesses dealing with increased product costs. – Read More on Morning Consult
3. Critical Steps Luxury Brands Must Take To Rebound From COVID-19: Service needs to be “branded.” That means a company needs to have full clarity on what the brand stands for and then authentically deliver brand values in a differentiating way through the service experience. If this is done right, the service will feel uniquely different, whether it’s a store owned by Louis Vuitton, Dior, Gucci, or Balenciaga. – Read More on Jing
4. Retail on pace for the most bankruptcies and store closures ever in one year, BDO says: By BDO’s measure, bankrupt retailers alone have announced nearly 6,000 store closings this year, more from January through mid-August “than the record 9,500 stores that closed throughout 2019,” and most of them in malls. – Read More on Retail Dive
5. Asian rivers are turning black. And our colorful closets are to blame: “Every season we know that the fashion industry needs to highlight new colors.” But “each time you have a new color you’re going to use more, new kinds of chemicals and dye stuffs and pigments and catalysts.” – Read More on CNN
6. You Don’t Have to Pivot in a Crisis: Methodically not-pivoting can pay off — in the right situation, that is. Staying the course, with minor adjustments, has proved to be a winning strategy for some ventures. “We only tweaked our messaging.” – Read More on HBR
