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☆ Wall Street is getting nervous about Tesla
▼ + stars: | 2024-04-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why Wall Street is getting nervous about Tesla . South China Morning PostEarnings season is approaching, and Wall Street's already ringing the alarm on a high-profile company. AdvertisementTesla won't report its full earnings until later this month, but Wall Street is preparing for trouble. One analyst called it a "nightmare" quarter for the company, while another firm labeled Tesla "a growth company with no growth." One strategy is getting more Tesla drivers subscribed to its Full Self-Driving software, which can run $199 monthly.

Persons: —, Wall, Insider's Beatrice Nolan, Tesla, It's, that's, Elon Musk, ANDERSEN, Alyssa Powell, Donald Trump's, Ken Griffin's, Claire Merchlinsky, MoviePass, Ted Farnsworth, Manoj Bhargava, Putin, Elvira Nabiullina's, Forbes, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Tesla, China, Bloomberg, Nvidia, Meta, Microsoft, Apple, Getty, BI Trump Media, SEC, Citadel, BI, Street Journal, Authentic Brands, Energy, Bank of Russia, The Locations: China, Russia's, Connecticut , Delaware , New York, Rhode Island, Wisconsin, New York, London

☆ Sports Illustrated’s Owner Sues Energy Drink Mogul After Chaos at Magazine
▼ + stars: | 2024-04-01 | by ( Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Sports Illustrated’s owner on Monday sued Manoj Bhargava, the energy drinks mogul whose foray into media has been rife with chaos and conflict, accusing him of failing to pay millions of dollars for the rights to publish the iconic magazine. The 51-page lawsuit, filed in U.S. District Court for the Southern District of New York, says that Mr. Bhargava and Arena Group, the publisher he controls, owe $48.75 million in missed payments, as well as damages for infringing on Sports Illustrated’s copyrights and trademarks. The lawsuit represents the latest public skirmish between Authentic Brands Group, which owns Sports Illustrated, and Mr. Bhargava, the 5-Hour Energy drink founder whose effort to take control of Sports Illustrated’s parent company has resulted in a series of lawsuits and turmoil at the sports publication. Sports Illustrated is being operated by Minute Media, a New York-based sports-media company that wrested the title away from Arena Group last month by striking a new deal with the magazine’s owner. After Arena Group laid off scores of employees in January and threatened to discontinue Sports Illustrated’s print edition, Minute Media pledged to hire some of them back and keep the magazine alive.

Persons: Manoj Bhargava, Mr, Bhargava Organizations: Southern, of, Arena Group, Sports, Authentic Brands, Energy, Minute Media, Group, Media Locations: U.S, of New York, New York

☆ 5-Hour Energy billionaire Manoj Bhargava sued by the owner of Sports Illustrated for $49 million after a tumultuous takeover
▼ + stars: | 2024-04-01 | by ( Jack Newsham | ) www.businessinsider.com time to read: +5 min

The owner of the Sports Illustrated brand filed a lawsuit Monday against the magazine's old publisher. The Arena Group lost SI, its crown jewel, after 5-Hour Energy owner Manoj Bhargava took control. In a lawsuit, Authentic Brands Group says Bhargava threatened to "go nuclear" and seeks $49 million. "ABG does not comment on pending litigation," a spokesperson for Authentic Brand Groups said. AdvertisementBhargava and Arena Group also declined to comment.

Persons: Manoj Bhargava, Bhargava, —, ABG, Ross Levinsohn, steamroll, Rob Barrett, Ron Wyden, Brooks, Derek Jeter Organizations: Sports Illustrated, Group, Energy, Authentic Brands, Service, Illustrated, Arena Group, Sports, Authentic, Arena, NCAA, Brand Groups, Reebok, Brooks Brothers, Media, Players ' Tribune, SI.com Locations: Michigan, Swiss

☆ Sports Illustrated to avert shutdown as it gets a fresh start under new publisher
▼ + stars: | 2024-03-18 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

In January, The Arena Group, which had published Sports Illustrated since 2019, stopped paying Authentic its licensing fee for publishing rights. Minute Media said that while it will continue the print edition of the magazine, it hopes to also usher Sports Illustrated into a lucrative digital future. “The weight and power of that distinction cannot be understated.”Minute Media will work to retain most of the Sports Illustrated staff, a person familiar with the matter said. “We have said from the start that our top priorities are to keep Sports Illustrated alive, uphold the legacy of the institution and protect our union jobs. We look forward to discussing a future with Minute Media that does that,” Emma Baccellieri, staff writer for SI and vice chair for the SI Union, said in a statement.

Persons: Asaf Peled, ” Peled, Peled, ” Emma Baccellieri Organizations: New, New York CNN —, Authentic Brands, The New York Times, Sports Illustrated, Group, Media, Players ’ Tribune, FanSided, Minute Media, SI, Arena, Sports Locations: New York

Sports Illustrated will continue operations after the company that owns the brand agreed with a new publisher for its print and digital products. Minute Media took over on Monday after reaching a licensing agreement with Authentic Brands Group. Authentic had been in negotiations with Arena, Minute Media and other publishing entities over the past two months. Authentic will acquire an equity stake in Minute Media, which also publishes the online sites The Players’ Tribune, FanSided and 90min. “In Minute Media, we have found a partner that will honor SI’s lauded legacy and exceed fan expectations for the future.

Persons: Asaf Peled, Stephen Cannella, ”, Emma Baccellieri, Ross Levinsohn, Meredith, Marilyn Monroe, Elvis Presley, Muhammad Ali, “, SI’s, ” Daniel W, David Bauder, ___ Organizations: Media, Authentic Brands, Minute Media, Players ’ Tribune, FanSided, “, SI, Associated Press, Sports, Group, Meredith Publishing, Time Inc, Reebok, Sports Illustrated, Associated Press Media

☆ A New Chapter for Sports Illustrated, With Plans to Keep Print
▼ + stars: | 2024-03-18 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

The owner of Sports Illustrated said it had chosen a new company to publish the magazine, a deal that could settle some of the recent friction at the storied publication and continue the print edition. Authentic Brands Group, which owns the intellectual property rights to Sports Illustrated as well as to celebrities like Marilyn Monroe and Muhammad Ali, said it had struck a long-term deal to license Sports Illustrated’s publishing rights to Minute Media, a digital-media company focused on sports. Minute Media’s license with Sports Illustrated will stretch for 10 years with an option to extend for up to 30 years total, into the magazine’s centenary. The companies declined to disclose financial terms but said that Authentic Brands Group was taking a stake in Minute Media as part of the deal. The deal is a significant expansion for Minute Media, a New York-based company founded in 2011 whose holdings — which include the sports websites The Players’ Tribune and Fansided — generate more than $400 million in revenue annually.

Persons: Marilyn Monroe, Muhammad Ali Organizations: Sports Illustrated, Authentic Brands, Sports, Minute Media, Authentic, Media, ’ Tribune, Fansided Locations: New York

☆ How the billionaire creator of 5-Hour Energy's erratic takeover led to a fumble of Sports Illustrated
▼ + stars: | 2024-03-17 | by ( Jack Newsham | Jake Swearingen | ) www.businessinsider.com time to read: +12 min

A week earlier, he had become a large minority shareholder at The Arena Group, but had no official title. The company Bhargava claimed to be taking over was so poorly run that he questioned the intelligence of those in the meeting. He also said Bhargava was talking about his charitable endeavors in order to underscore his priorities to Arena Group employees. Media, Bhargava said in the meeting, was "biased." Days later, Bhargava sacked Arena Group CEO Ross Levinsohn, too, causing Levinsohn to angrily resign from the board.

Persons: —, Manoj Bhargava, Bhargava, Zoom, I'm, Steve Janisse, Vince Bodiford, Bodiford, Ross Levinsohn, Levinsohn, Rob Barrett, doesn't, ABG, Jamie Salter, Forbes, Janisse, Nielsen, Arena's, Riley, toh, Manoj, there's Organizations: Service, Arena Group, Energy, The, Business, Sports, Media, Arena, Authentic Brands, Washington Post, Princeton, IRS, United, United States Tax, Bridge Media, Sports Illustrated, Hans Foundation, International, Group, toh e New York Times, New York, Players ' Tribune, Office, BI Locations: NewsNet, India, United States, Michigan, toh e

☆ People are using AI to talk to dead celebrities like Marilyn Monroe. Not everyone is excited about it.
▼ + stars: | 2024-03-17 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +5 min

South By Southwest attendees got to speak with a Marilyn Monroe AI chatbot. But critics say celebrities who can't consent should not be used in AI recreations. Meta CEO Mark Zuckerberg said previously that he thinks AI celebrities will become popular. AdvertisementLast year, Robin Williams's daughter, Zelda, said that she found AI recreations of her father's voice to be "personally disturbing." AdvertisementSoul Machines partnered with Authentic Brands Group — which acquired the rights to Marilyn Monroe's intellectual property in 2018 — to create the AI Marilyn, according to Deadline.

Persons: Marilyn Monroe, —, Kim Kardashian, Mark Zuckerberg, Meta, Tom Brady, Kendall Jenner, Naomi Osaka, Chris Paul, Charli D'Amelio, Israel Adesanya, Roy Choi, Dwayne Wade, Zuckerberg, Marilyn, Marilyn chatbot, Maureen Lee Lenker, Robin Williams's, Zelda, Williams, Marva Bailer, Bailer, Marilyn Monroe's, Elvis Presley, Muhammad Ali, Shaquille O'Neal, David Beckham Organizations: Southwest, Service, Kanye West, SXSW, Federal Trade Commission, Machine, Machines, Fox News, Authentic, Brands, Fox Locations: United States

☆ Sports Illustrated’s Employees Are Told Print Edition Will Close in May
▼ + stars: | 2024-03-14 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Friction between Sports Illustrated’s owner and its operator has led to disarray at the venerable magazine in recent months. But that message runs counter to what Sports Illustrated’s owner, Authentic Brands Group, has said about looking for a way to ensure that the magazine endures in print. Last year, Mr. Bhargava, the founder of the 5-Hour Energy drink company, agreed to buy a major stake in the Arena Group. In January, Authentic Brands terminated its deal with Arena Group after Arena breached its licensing agreement by failing to make a $3.75 million payment. Since then, Authentic Brands has been weighing a deal with new licensees, leading to the current uncertainty.

Persons: Steve Janisse, Manoj Bhargava, Bhargava Organizations: Sports, Employees, Authentic Brands, Brands, Energy, Arena, Group

☆ Main Street is more optimistic this year even as inflation persists, survey says
▼ + stars: | 2024-02-01 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

Seventy-five percent of small business owners are optimistic about their financial trajectory in 2024, up from 68% a year earlier, according to a survey by Goldman Sachs 10,000 Small Business Voices, a policy advocate for small business owners. More than half of small business owners surveyed said they expect to create jobs this year, and 62% reported they anticipate profits will increase. The survey was conducted nationally in mid-January among more than 1,400 small business owners. Interestingly, small business owners found 2023 nearly as hard as 2020 — the peak of the pandemic and a time when many companies could not operate. Inflation is still a major concern for business owners, even as the rate of price increases falls.

Persons: Joe Biden, Alex Wong, Goldman Sachs, Joe Wall, Jill Bommarito, they've, Wall Organizations: White, National, Getty, CNBC, Baking Company, Foods, Target, Costco, headwinds, Small, National Federation of Independent Business, Federal Reserve Locations: Washington , DC, Detroit

The move came after the Arena Group, which publishes the magazine under a complicated management structure, had its license to operate the publication revoked. It was unclear whether Sports Illustrated would continue publishing, or whether its owner, Authentic Brands Group, would strike a new agreement with the Arena Group or find a new company to operate it. For decades, Sports Illustrated was a weekly bible for sports fans and a financial engine for the Time Inc. empire. Like many publications, the magazine had struggled to shift to the digital media world from print publishing. In 2019, the media conglomerate Meredith sold Sports Illustrated to Authentic Brands Group, which is primarily a licensing company that acquires the rights to celebrity brands, for $110 million.

Persons: Meredith Organizations: Arena Group, Authentic Brands, Sports, Time Inc

☆ Mass layoffs hit Sports Illustrated staff
▼ + stars: | 2024-01-19 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

The publisher of Sports Illustrated is laying off much of the storied magazine's entire staff. The news, first reported by Front Office Sports, came less than 24 hours after publisher The Arena Group announced "a significant reduction in its workforce," comprising 100 employees. According to FOS, Sports Illustrated's parent company, Authentic Brands Group, has sought to revoke Arena's license to publish SI after Arena missed a payment. The union representing SI's staff said in a tweeted statement that it had been notified of Arena's intention to "lay off a significant number, possibly all" of its union-represented staff. "This is another difficult day in what has been a difficult four years for Sports Illustrated under Arena Group (previously The Maven) stewardship," the union said in a statement.

Persons: Richard Deitsch, Long, Ross Levinsohn, Manoj Bhargava, Bhargava Organizations: Sports Illustrated, Front Office Sports, Arena, Authentic Brands, The, Arena Group, SI, Authentic Brands Group, NBC News, Time Inc, Meredith Corp, Better Homes, Gardens, Sports, Innovations Ventures, Men's, Sports Illustrated Resorts Locations: Dominican Republic

☆ Sports Illustrated lays off most, possibly all, of its staff
▼ + stars: | 2024-01-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —The future of Sports Illustrated was uncertain Friday after the publisher of the iconic magazine and website laid off most or “probably all” of its guild-represented staff, its union said. In a memo sent to staff viewed by CNN, the magazine’s publisher said it is “laying off staff that work on the SI brand.”Authentic Brands Group has owned the magazine and website since 2019. “This is another difficult day in what has been a difficult four years for Sports Illustrated under Arena Group (previously The Maven) stewardship,” the union said in a statement on X. The union said it expects the Arena Group to honor its union contract and for all of its employees to be treated fairly. Levinsohn was replaced, effective immediately, by interim chief executive Manoj Bhargava, the 5-Hour Energy founder who owns a majority stake in The Arena Group, said Vince Bodiford, a spokesperson for Bhargava.

Persons: ABG, Manoj Bhargava, Mitch Goldich, It’s, Ross Levinsohn, Levinsohn, Vince Bodiford, Bhargava, CNN’s Oliver Darcy, Liam Reilly Organizations: New, New York CNN, Sports, CNN, SI, Arena Group, Sports Illustrated, ”, Hour Energy, Group, The Locations: New York

In an email to employees Friday morning, the Arena Group, which operates Sports Illustrated and related properties, said that Authentic Brands Group has revoked its marketing license. “As a result of this license revocation, we will be laying off staff that work on the SI brand,” the email said. Sports Illustrated's employee union said in a statement that the layoffs would be a significant number and possibly all, of the NewsGuild workers represented. Less than a year later, Meredith sold the magazine's intellectual property to Authentic Brands Group for $110 million. Once a weekly publication, SI was reduced to biweekly publishing in 2018 and became a monthly in 2020.

Persons: Mitch Goldich, Ross Levinsohn, Meredith, ABG, Marilyn Monroe, Elvis Presley, Muhammad Ali, ___ Organizations: Sports, Arena Group, Authentic, Authentic Brands, SI, Group, Meredith Publishing, Time Inc, Reebok Locations: ABG

☆ RIP Sports Illustrated. And RIP, magazines.
▼ + stars: | 2024-01-19 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

Read previewSports Illustrated used to be an American cultural touchstone. And sad for a certain kind of media person — like me — who remembers when Sports Illustrated was Really Important. AdvertisementFor people who don't remember that era: In a pre-internet world, Sports Illustrated was many things. In recent years, you were much more likely to read about a scandal or stupid controversy at Sports Illustrated than you were to actually read Sports Illustrated. So feel free to pour one out for Sports Illustrated — both the idea and the actual place where people worked.

Persons: —, John Steinbeck, William Faulkner, Don DeLillo, Gilbert Carrasquillo, who've, it's, Condé Nast, Steve Jobs, DotDash Meredith, Conde Organizations: Service, Sports Illustrated, Business, Authentic Brands, Group, Brands, Sports, Inc, Vogue, Apple, Pitchfork, Google, Facebook Locations: American

☆ Wolverine World Wide sells Sperry to Authentic Brands Group in shoe retail deal
▼ + stars: | 2024-01-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Wolverine World Wide has sold Sperry to brand management firm and Reebok owner Authentic Brands Group, as the footwear retailer looks to focus on better performing assets, the company announced Thursday. Aldo will also work with the brand on footwear design, production and global distribution. It already works closely with Authentic on running brands like Roxy and Brooks Brothers. The deal will generate $130 million, which Wolverine plans to use to pay down debt, it said. Wolverine originally acquired Sperry, a 90-year-old brand, in 2012 from Payless ShoeSource owner Collective Brands in a $1.23 billion deal that also included Saucony, Stride Rite and Keds.

Persons: Aldo, Brooks, Wolverine, Payless, Saucony, Merrell, Hush, Betty, Sperry, Wolverine's, Brendan Hoffman Organizations: Sperry, Reebok, Authentic Brands, Aldo Group, Brooks Brothers, Brands Locations: Ireland

☆ Shein's revenue is ‘a lot more’ than $30 billion annually, key retail partner says
▼ + stars: | 2024-01-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

watch nowORLANDO, Fla. — Little is known about how much revenue Shein draws or just how profitable it is. But the fast-fashion company's sales are "a lot more" than the $30 billion it reportedly brings in annually, one of the retailer's key partners said Monday. "There's talks that they do 30 billion, do they do 40 billion? If Shein's sales are "a lot more" than $30 billion annually, its revenue would still be far smaller than that of retail giants such as Walmart and Amazon , which do hundreds of billions in sales annually. A sales total above $30 billion would mean Shein dwarfs American retailers such as Abercrombie & Fitch and American Eagle , which most recently reported annual sales of $3.7 billion and $5 billion, respectively.

Persons: Jamie Salter, There's, Salter, Allen J, Shein, confidentially, Inditex Organizations: Authentic Brands, Los Angeles Times, Getty, Sparc Group, Simon Property Group, Sparc, Walmart, Abercrombie, Fitch Locations: ORLANDO, Fla, —, Orlando, Ontario Mills, Ontario, U.S, Shein, China

Shein has not determined the size of its offering or the valuation at IPO, the sources said. Shein, Goldman and JPMorgan declined to comment, while Morgan Stanley did not immediately respond to a request for comment. The most valuable China-founded enterprise to go public in the United States so far is ride-hailing giant Didi Global's (92Sy.MU) debut in 2021 at $68 billion valuation. In 2021, the comparable number was $300 billion when the IPO market was close to its peak. Fast fashion retailers have been gaining popularity in the United States, with Shein taking away market share from the likes of Gap (GPS.N) as shoppers look for fresher styles.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Shein, Goldman, Didi Global's, Jason Benowitz, David, Dee, Delgado, CSRC, Simon Property, Sumeet Singh, It's, Pritam Biswas, Ananya Mariam Rajesh, Kane Wu, Anirban Sen, Rishabh, Scott Murdoch, Miyoung Kim, Stephen Coates Organizations: Amazon, JPMorgan, Bloomberg, Arm Holdings, Roosevelt, REUTERS, China Securities Regulatory Commission, U.S, Reuters, Securities and Exchange Commission, SPARC Group, Forever, Brands, Simon, Aequitas Research, China's Shanghai Securities, Street, Thomson Locations: United States, China, U.S, Singapore, New York City, Shein, Bengaluru, Hong Kong, New York, Sydney

☆ Chinese fast-fashion retailer Shein files for U.S. IPO - WSJ
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

The fast-fashion giant has been working with at least three investment banks about a potential IPO and was in talks with the New York Stock Exchange and the Nasdaq, Reuters reported in July. Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024. the WSJ report said. Shein declined to comment to Reuters on the report. Fast-fashion has been gaining popularity in the United States with Shein partnering with SPARC Group, a joint venture between Forever 21 owner Authentic Brands (AUTH.N) and mall operator Simon Property (SPG.N), as the online fashion retailer and its rivals look to expand their market reach. Reporting by Pritam Biswas and Ananya Mariam Rajesh in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: David, Dee, Delgado, Shein, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Didi Global's, Simon Property, Pritam Biswas, Ananya Mariam Rajesh, Arun Koyyur Organizations: REUTERS, Wall Street, New York Stock Exchange, Nasdaq, Reuters, JPMorgan, SPARC Group, Forever, Brands, Simon, Thomson Locations: New York City, U.S, China, United States, Bengaluru

☆ Shein files for U.S. IPO as fast-fashion giant looks to expand its global reach
▼ + stars: | 2023-11-27 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Shein has confidentially filed to go public in the U.S. as the Chinese-founded fast-fashion juggernaut looks to expand its global reach with a long-rumored initial public offering, CNBC has learned. Over the next few months, Shein will likely make tweaks to its paperwork and answer numerous questions from the agency. The filing will be made public once the company is ready to move forward with its IPO. He said, "there's no such thing as forced labor" in the Shein factories that he has visited. As Shein grew from an obscure Chinese retailer into a global behemoth with headquarters in Singapore, it largely stayed in the shadows.

Persons: Shein, it's, Marcelo Claure, Sky Xu, Donald Tang, influencers, Xu, Goldman Sachs, Morgan Stanley Organizations: CNBC, U.S . Securities, Exchange Commission, SEC, Chinese Communist Party, Bear, Sparc Group, Authentic Brands Group, Simon, Group, JPMorgan, CNBC PRO Locations: U.S, Beijing, Singapore, Bear Stearns

Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, and Shein could go public sometime in 2024, the sources said. Shein has been planning to go public for the last few years, but halted plans almost twice since then. The fast-fashion giant's decision now comes at a time when the broader market for new issues remains laggard. Fast fashion retailers have been gaining popularity in the United States, with Shein taking away market share from the likes Gap (GPS.N) as shoppers look for fresher styles and trendier clothing. Shein's confidential IPO was first reported by the Wall Street Journal earlier on Monday.

Persons: David, Dee, Delgado, Shein, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Didi Global's, Simon Property, Pritam Biswas, Ananya Mariam Rajesh, Anirban Sen, Rishabh Jaiswal, Arun Koyyur, Sherry Jacob, Phillips Organizations: REUTERS, Reuters, JPMorgan, chipmaker Arm Holdings, New York Stock Exchange, Nasdaq, SPARC Group, Forever, Brands, Simon, Wall Street, Thomson Locations: New York City, U.S, China, United States, Singapore, Bengaluru, New York

☆ Hanesbrands is shopping Champion — and WHP Global, Authentic Brands Group are both interested in buying
▼ + stars: | 2023-11-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Brand management firms WHP Global and Authentic Brands Group are both interested in buying Champion from its parent company Hanesbrands , which is considering offloading the sportswear line amid pressure from activist investors, CNBC has learned. At the time, Hanesbrands said those options could include a potential sale of Champion or another type of strategic transaction. Hanesbrands has seen wide interest in acquiring Champion from a mix of buyers, including WHP and Authentic Brands, according to people familiar with the matter. WHP and Authentic Brands didn't return requests for comment. Goldman Sachs, which has been tapped as Hanesbrands' financial advisor for its review of Champion, declined to comment.

Persons: Hanesbrands, it's, didn't, Goldman Sachs Organizations: Brand, WHP Global, Authentic Brands, CNBC, Champion, Barington Capital Group

☆ [WATCH NOW] How to drive growth with seamless omnichannel payments
▼ + stars: | 2023-11-01 | by ( Sponsor Post | Created Insider Studios With Paypal | ) www.businessinsider.com time to read: +8 min

At the recent event, "How Enterprise Merchants Can Leverage Seamless Omnichannel Payments to Drive Growth," experts shared insights on how to maximize customer conversions. Watch now and find out how to embed a seamless omnichannel experience into your customer engagement strategy. Omnichannel payments are vital to merchant growthOmnichannel can only deliver a seamless customer experience with a strong payment infrastructure behind it. Today's customers want a seamless omnichannel experience, and if your business can't offer that, they'll find one that can. Watch the video below to learn how adopting omnichannel payments can help your business drive greater growth.

Persons: Julie Fergerson, Fergerson, they're, Cindy Turner, Adam Kronengold, Vince Camuto, Eddie Bauer, Kronengold, Turner Organizations: Merchant Risk Council, PayPal, National Retail, Retail, Authentic Brands, Insider Studios Locations: National Retail Federation's, PayPal Braintree, Braintree

☆ Shein acquires British fast fashion brand Missguided as it looks to expand global reach
▼ + stars: | 2023-10-30 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Shein has bought British fast fashion brand Missguided from the Frasers Group as the company looks to expand its market share and global reach ahead of a rumored U.S. initial public offering, the companies announced Monday. As part of the deal, Shein will license Missguided's intellectual property to Sumwon Studios, a joint venture between Shein and Missguided founder Nitin Passi. Sumwon will manage and operate the Missguided brand. The brand gained prominence when it went viral for selling £1 bikinis and became a major player in British fast fashion. "Shein aims to reignite the Missguided brand, capitalising on its unique brand personality, and fuelling its global growth through SHEIN's on-demand production model, unparalleled e-commerce expertise and global reach."

Persons: Shein, Frasers, Nitin Passi, Sumwon, Missguided, Donald Tang Organizations: Frasers Group, Sumwon Studios, Frasers, Forever, Sparc Group, Authentic Brands Group, Simon Property, CNBC Locations: British, Shein, SHEIN's

☆ Shein deepens its relationship with Forever 21, will begin selling co-branded clothes online
▼ + stars: | 2023-10-27 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Shein and Forever 21 are slated to unveil a co-branded clothing line after the two retailers launched a joint venture earlier this year that turned the would-be competitors into partners, the companies announced on Friday. Under the partnership, Shein will design, manufacture and distribute a line of co-branded Forever 21 apparel and accessories that will be sold primarily on Shein's website. The announcement comes about two months after Shein and Forever 21's operator Sparc Group inked a deal that saw both companies take a stake in each other's businesses. Under the agreement, Shein acquired about one-third of Sparc Group — a joint venture that includes brand management firm Authentic Brands Group and mall owner Simon Property Group — while Sparc took a minority stake in Shein. For Forever 21, its partnership with Shein helps the retailer to regain the relevancy it once had in the mid-2010s and win over younger customers who are more likely to shop online than they are in malls.

Persons: Shein, doesn't, Jamie Salter Organizations: Sparc, Sparc Group, Authentic Brands Group, Simon, Group Locations: Ontario Mills, Ontario, Shein, China, U.S

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