Weekly Spotlight: Loro Piana and Unpaid Peruvian Farmers, TikTok’s Shaky Future, and More
By Sirena Kuo
1. Loro Piana‘s $9K Sweaters: Finest Wool, Unpaid Peruvian Farmers
Indigenous Peruvian communities, unpaid for their labor, supply rare vicuña wool to luxury brand Loro Piana, which sells sweaters for $9,000. Despite the high retail value, these communities see little financial return, continuing to struggle with poverty while Loro Piana, part of the affluent LVMH group, profits significantly.
2. TikTok‘s Uncertain Future: US House Pushes for Ban Amid Rising Concerns
The US House’s recent bill, with bipartisan support, threatens to ban or force the sale of TikTok over data privacy fears, despite facing uncertain Senate prospects and free speech concerns. This looming decision puts fashion brands relying on TikTok for marketing in a precarious position, awaiting the bill’s fate.
3. Diane von Furstenberg Teams Up with Target for an Accessible Fashion Line
Target’s latest collaboration with Diane von Furstenberg introduces a diverse range spanning over 200 items, including apparel, accessories, and home decor. Co-designed with her granddaughter Talita, the collection, inspired by art and nature, offers affordable pricing with most items under $50. Ahead of the March 23 launch, a special pre-launch event in New York City allows early access for shoppers.
4. Profit Over Popularity: The RealReal Gains in Finance, Loses User Favor
The RealReal’s shift to profitability, achieved by lowering payouts and adding fees, pleased investors but frustrated many users. Reduced commissions on lower-value items and operational mishaps have led to a decline in active buyers, even as the company maintains its appeal for convenience in the luxury resale market.
5. Hedi Slimane Expands Celine‘s Horizon with New Beauty Line Debut
Celine, guided by Hedi Slimane and part of LVMH, is launching a beauty line starting with Rouge Triomphe lipstick. This foray into cosmetics follows Slimane’s fragrance line and aligns Celine with luxury peers in the beauty sector, leveraging LVMH’s expertise and contributing to Celine’s growing revenue, nearing €3 billion.
