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Must Read: LVMH to Develop Luxury Hotel in London, Influencer Marketing as Explained by a 19th Century Economist

Plus, "it" bags are making a comeback.
A luxury shopping street in London. Photo: Jack Taylor/Getty Images

A luxury shopping street in London. Photo: Jack Taylor/Getty Images

These are the stories making headlines in fashion on Friday.

LVMH to develop luxury hotel and flagship in London 
When LVMH acquired the luxury hospitality group Belmont at the end of 2018, it was a sign that the conglomerate wanted to expand into high-end experiences. This week, the company revealed plans to transform a Georgian building on Grafton Street in London into a hotel, restaurant, spa and a rumored Celine flagship store. The project is set to be completed by 2022 and the deal could be valued at up to half a billion pounds. {Business of Fashion

Influencer marketing can be explained by a 19th century economist 
In 1899, American economist and sociologist Thorstein Veblen said that people take their cues about what to consume from the social class immediately above their own. In a new paper published this week, researchers at the University of Pennsylvania show how his centuries-old theory explains some dynamics of the influencer economy and the rules that govern Instagram today. One key to Veblen's theories is the notion of "conspicuousness" in consumption or leisure. This, of course, describes a lot of how Instagram works: What's the point of doing or buying anything, if you can't show it off? {Quartz

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"It" bags are making a comeback 
Luxury brands are relaunching their famous bag styles from the early aughts at a time when people tend to care more about what's on their feet than what they're carrying. But sneakers be damned, because the former "It" bags are gaining traction: Thanks to modern updates and a fresh marketing approach (influencers!), Dior's Saddle bag is selling well. Fendi is trying for the same magic with its newly resurrected Baguette bag, and it's likely that more labels will dive into their archives for a money-making wristlet as well. {Business of Fashion

Nordstrom shares rise after reported earnings top expectations 
Nordstrom shares were up 7.5 percent on Thursday after the company reported full-year earnings guidance that beat Wall Street estimates. The retailer sees full-year 2019 earnings per diluted share ranging between $3.65 and $3.90, which is stronger than the $3.67 that analysts surveyed were expecting. Nordstrom also said it expects net sales to grow between 1 percent and 2 percent. {Business Insider

Net-a-Porter launches exclusive capsule for International Women's Day
In celebration of International Women's Day, Net-a-Porter is launching a limited-edition female-centered collection in collaboration with six designers, with all proceeds benefitting Women for Women International. The line features six graphic T-shirts designed by Alexa Chung, Isabel Marant, Victoria Beckham, Rosie Assoulin, Perfect Moment and Ellery. You can shop the full range in the gallery below. {Fashionista inbox} 

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