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☆ A message to OpenAI's Sam Altman was an AI startup founder's last ditch effort to help save her company — and it worked
▼ + stars: | 2023-08-21 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +5 min

The AI startup was recently named by VCs as one of 2023's most promising startups. Thompson named her startup Milo, an acronym for "my important loved ones," and raised some early funding from the accelerator Y Combinator in 2020. "You never hear someone talk about the power of these models to help families," said Brad Lightcap, OpenAI's chief operating officer. On Milo, parents can send text messages of grocery lists, photos of permission slips or sign-up-sheets for school activities to the Milo chatbot. To date, Milo has raised an undisclosed amount of pre-seed and seed capital from Y Combinator, OpenAI, Magnify Ventures, Bronze Ventures, and several angel investors.

Persons: Milo, Avni Patel Thompson, Sam Altman, VCs, Thompson, Mary, Archa Jain, Brad Lightcap, Milo chatbot, Cleo, Sara Ittelson, I'm Organizations: Starbucks, Reebok, Accel, Bronze Ventures Locations: Y

☆ Sports drink entrepreneur Mike Repole takes majority stake in sneaker brand Nobull
▼ + stars: | 2023-07-20 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Nobull is a training brand founded in 2015 by former Reebok executives Marcus Wilson and Michael SchaefferNobull is a training brand founded in 2015 by former Reebok executives Marcus Wilson and Michael Schaeffer. Terms of the deal were not disclosed, but Repole said it's his biggest investment in a brand to date. Mike Repole's private equity firm will buy a majority stake in the company Nobull, he told CNBC on Thursday. "I think that this brand can really be a life-changing brand for so many people," Repole said. Co-founder Wilson said Repole's history of successful exits is part of what makes him a compelling partner for Nobull.

Persons: Marcus Wilson, Michael Schaeffer Nobull, Michael Schaeffer, Repole, it's, Mike, It's, Vitaminwater, Wilson, who's Organizations: Reebok, CNBC, Impact Capital, NFL, Nobull Locations: Boston, United States, United Kingdom, China, Coke

☆ 12 things to do when you get the Venture X Card
▼ + stars: | 2023-07-05 | by ( Ariana Arghandewal | Add An Authorized User | ) edition.cnn.com time to read: +11 min

The Capital One Venture X Rewards Credit Card made quite a splash when it launched in 2021. Getty ImagesWhile you’re moving monthly bills to your Capital One Venture X card, don’t forget your cell phone bill. Getty ImagesThe Capital One Venture X card offers a $100 application fee credit towards Global Entry or TSA Precheck. As a Capital One Venture X card holder, you can claim a free PRIOR subscription by navigating to your accounts benefit tab. Join Gravity HausAs a Capital One Venture X card holder, you’ll receive a $300 discount on an annual Gravity Haus membership every 12 months.

Persons: you’ll, it’s, Hertz, you’re, Hilton Organizations: CNN, American Express, Venture, Capital, Hertz, Global, TSA, Getty, Reebok, Bloomingdale’s, GameStop, IHG, Booking.com, Entertainment, The, Francisco’s Legion, Royal Academy of Arts, Gravity, Gravity Haus Locations: New York, London

☆ Analysis: Why Walmart's new bet on fashion brands, home decor threatens specialty chains
▼ + stars: | 2023-06-15 | by ( Siddharth Cavale | ) www.reuters.com time to read: +5 min

She told Walmart investors its strategy is to "democratize fashion" or convert the company's core, price-conscious shoppers into style-conscious shoppers. It would probably be the rest of the market that should be worried," he said pointing to apparel retailers such as Carhartt. Walmart accounts for 4.6% of the $560.4 billion U.S. apparel market, followed by TJX, Target and Ross at 4.4%, 4.1% and 2.8%, respectively, according to GlobalData. Bankrupt Bed Bath and Beyond was a leader in the home decor and furnishing industry along with furniture chains Ikea and Wayfair. In 2005, Walmart's Metro 7 fashion brand tanked and later designer lines with Max Azria and Norma Kamali also withered.

Persons: Walmart Supercenters, Drew Barrymore, Sofia Vergara, Denise Incandela, George, Ralph Lauren, Rosenblum, Privately, Refinitiv, TJX, Ross, Brandon Maxwell, Clea Shearer, Joanna Teplin, fryer, Sofia Jeans, Vergara, Arun Sundaram, Sundaram, Max Azria, Norma Kamali, Siddharth Cavale, Vanessa O'Connell, David Gregorio Our Organizations: Walmart, Reebok, Saks, Tilly's Inc, Abercrombie, Fitch, Bravo, Netflix, Bed, Amazon.com, Walmart's Metro, Thomson Locations: Bath, U.S, Bed Bath, Walmart's, New York

☆ 34-year-old makes up to $167 an hour nannying for the mega-rich: I could work just 2 months a year and 'be fine'
▼ + stars: | 2023-05-28 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

When Gloria Richards isn't acting on off-Broadway stages, she travels with billionaires' kids, often whom she's never met, across the world. Richards spends half of each year nannying for the ultra-wealthy to supplement her income between off-Broadway and one-woman shows in New York City and Virginia. "What feeds me is being able to work so closely with these kids." Nannying for the ultra-wealthy isn't always about childcare: She spends most of her working hours coordinating children's educational and social calendars. She gets paid up to $2,000 per day for 12 to 15 hours of work, she says.

☆ 30-year-old started his business with a website, sewing kit and Pizza Hut salary—now he's a billionaire
▼ + stars: | 2023-05-26 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Ben Francis didn't become wealthy through a family inheritance or business school connections. Originally, Francis and co-founder Lewis Morgan launched Gymshark as a website selling fitness supplements, he told CNBC Make It in 2021. "CEO was not the right role for me when I was in my early 20s," Francis told CNBC Make It. "Just because I'd started a business that had grown very quickly didn't mean I was the most competent chief exec." "I really think Gymshark can be the U.K.'s answer to those brands," Francis told CNBC Make It.

☆ Nike execs warned Adidas that Kanye West was difficult to work with – but the sportswear brand partnered with him anyway, a report says
▼ + stars: | 2023-05-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Adidas ignored warnings from Nike that Kanye West was difficult to work with, Bloomberg reported. West started selling Yeezy sneakers with Nike in 2009, before later partnering with Adidas. Over the course of Adidas' partnership, West's behavior became increasingly erratic. Before Adidas partnered with him on its Yeezy range, Ye had already worked with Nike to develop the Air Yeezy range, with the first sneakers hitting shelves in 2009. Adidas staff were concerned about the rapper's actions for years, but the company's reliance on his sneaker range meant execs were reluctant to take action, per Bloomberg's report.

☆ A growing number of sports bras, shirts and leggings brands found with high levels of toxic chemical, watchdog warns
▼ + stars: | 2023-05-17 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

The newly tested brands and their products include leggings from Athleta, Champion, Kohl’s, Nike and Patagonia, sports bras from Sweaty Betty, athletic shirts from Fabletics and shorts from Adidas, Champion and Nike. The group had also tested athletic shirts in October from brands that included The North Face, Brooks, Mizuno, Athleta, New Balance, and Reebok and found similar results. Athleta, Nike, Reebok, The North Face and Victoria’s Secret (which owns PINK) did not provide a comment to CNN at the time. BPA (Bisphenol A) is found in a large number of everyday products, from water bottles and canned foods to toys and flooring. Sports bras and athletic shirts are worn for hours at a time, and you are meant to sweat in them, so it is concerning to be finding such high levels of BPA in our clothing,” Allan Sugerman said.

☆ A new NIL report based on over 100,000 deals breaks down the highest-paying sports for college athletes and the industries spending the most
▼ + stars: | 2023-05-05 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Nearly two years after student-athletes gained the right to make money from their names, images, and likenesses, typically referred to as NIL, the tech platform Opendorse said it's processed over 100,000 NIL deals across the US. Snapchat and TikTok were much less common, representing just 6% and 3% of activations of NIL deals, respectively, per Opendorse's report. The average brand deal paid to athletes in the sport was $3,837, followed by $2,472 for football players and $1,693 for men's swimming and diving athletes. Women's college basketball players were the fourth highest earners on average for brand deals, with an average of $1,418 per deal. Haley and Hanna Cavinder earned nearly $2 million in NIL deals in the first year of the program, for example, per Forbes.

☆ 4 key takeaways on student-athlete NIL marketing from a new report that includes the industry's biggest earners and spenders
▼ + stars: | 2023-05-02 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Here are the biggest NIL earners and spenders, and other key takeaways from a new Opendorse report. Nearly two years after student-athletes gained the right to make money from their names, images, and likenesses, typically referred to as NIL, the tech platform Opendorse said it's processed over 100,000 NIL deals across the US. Snapchat and TikTok were much less common, representing just 6% and 3% of activations of NIL deals, respectively, per Opendorse's report. Women's college basketball players were the fourth highest earners on average for brand deals, with an average of $1,418 per deal. Haley and Hanna Cavinder earned nearly $2 million in NIL deals in the first year of the program, for example, per Forbes.

The 34-year-old is primarily an actress, but on the side, she's a travel nanny for billionaires in New York. "The qualities it takes to work for the ultra-wealthy is patience and a nuanced perception of anticipating a person's needs." Here's what they said about their lucrative side hustles:Nannying ultra-wealthy kidsNanny-matching site Care.com advises New York families to pay full-time nannies $21.25 per hour, the company's website says. Chauffeuring rich familiesA typical Uber driver in New York makes just over $45,000 per year, according to Glassdoor data. Frank Dorfman (right), alongside one of his daughters, started chauffeuring four years after he retired as a New York police detective.

CompaniesCompanies Related documents Hermes International SCA FollowSkechers USA Inc FollowApril 26 (Reuters) - French luxury fashion house Hermès International SCA (HRMS.PA) has settled a lawsuit brought by Skechers USA Inc (SKX.N) that claimed Hermès sneakers infringed Skechers' patent rights, according to a Wednesday filing in Manhattan federal court. Representatives for the companies did not immediately respond to requests for comment and additional details. Manhattan Beach, California-based Skechers sued Hermès last year, alleging its Eclair and Envol sneakers infringe two Skechers design patents covering the undulating "Massage Fit" soles in its "Go Walk" walking shoes. Skechers said the soles of Hermès' shoes were "substantially the same" as its soles and requested an unspecified amount of money damages. Skechers has also sued Fila, Reebok, Steve Madden and other shoemakers in the past for infringing "Go Walk" design patents, in cases that later settled.

☆ Meet Sonny Vaccaro, the executive credited with signing Michael Jordan in Ben Affleck's new movie 'Air' and the self-proclaimed 'savior of Nike'
▼ + stars: | 2023-04-07 | by ( Matthew Kish | ) www.businessinsider.com time to read: +6 min

Vaccaro, 83, was a key figure in Nike's push to sign Michael Jordan in 1984. No one in his family went to college, Vaccaro said in an interview over a pancake breakfast in 2021. Matt Damon plays Sonny Vaccaro in the new "Air" movie about how Nike signed Michael Jordan. "The signing of Michael Jordan, yeah, success has a thousand fathers, and failure is an orphan," Knight told USA Today in 2015. "A lot of people want to take credit for signing Michael Jordan, most obviously Sonny Vaccaro."

☆ Fanatics will become the NHL's official uniform supplier, replacing Adidas
▼ + stars: | 2023-03-21 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Fanatics will replace Adidas as the official uniform supplier for the National Hockey League starting with the 2024-2025 season, the league announced on Tuesday. The 10-year deal marks a deepening of the company's relationship with the NHL and the first time Fanatics branding will appear on official player uniforms in professional sports. Fanatics runs the NHL's e-commerce site with more than 90 million customers worldwide. In addition, Fanatics has long-standing relationships with more than 80 current and former hockey stars through its memorabilia and collectibles division. Fanatics said Tuesday it will manufacture the new NHL uniforms in Canada at the same factory that had been making the NHL's on-ice uniforms for the last three decades.

☆ Adidas' new CEO came out swinging during his first press conference, calling out Nike's lack of innovation and defending the three stripes
▼ + stars: | 2023-03-09 | by ( Danni Santana | Matthew Kish | ) www.businessinsider.com time to read: +6 min

He stood up for Adidas' performance innovation pipeline while taking a shot at NikeAdidas is always compared to its larger rival Nike. But Gulden took issue with criticisms that Adidas is not innovating enough in its performance business. The Yeezy business is not coming backAdidas has not made a decision on what to do with its stockpile of Yeezys. Given Lorenzo's popularity, the underperformance of the Ivy Park line, and the end of Adidas' Yeezy business, Lorenzo could give the company a needed spark. Gulden took the stage Wednesday in front of a backdrop that featured Jesse Owens and Muhammad Ali, two sports icons and former Adidas athletes.

☆ I ditched software engineering to become an influencer. Here's how I scaled up to 6 figures — and why my computer-science degree is now my backup plan.
▼ + stars: | 2023-03-08 | by ( Ellen Nguyen | ) www.businessinsider.com time to read: +6 min

She started posting her outfits as a pandemic hobby and grew her following to more than 4 million. Now I'm a full-time content creator with more than 4 million followers across YouTube, Instagram, and TikTok who earns a mid-six-figure income. My pandemic hobby turned into my full-time job thanks to the right timing. Like many people, I started posting videos of my outfits just for fun during lockdowns because I'd always been into fashion. But I take extra care to ensure that I always put my own creative spin or flair on content I'm inspired by.

☆ Ex-basketball star thought Nike and Adidas weren't doing enough for Black people—so he built a $30 million competitor
▼ + stars: | 2023-02-24 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Lanny Smith wants someone to challenge sportswear giants like Nike, Adidas and Reebok — so much that he's trying to do it himself. Smith, 38, is the founder and CEO of Actively Black, the sportswear company he launched in 2020 in the wake of George Floyd's death. Today, Actively Black is a multimillion-dollar brand, reportedly valued at $30 million in 2021. NBA star Stephen Curry was spotted wearing an Actively Black hoodie during a press conference last year, shortly after former President Barack Obama sported a watch the brand collaborated on. And we were going to build our own table," Smith says.

☆ Why Netflix is placing cars like the Chevy Bolt in its shows, and what the streamer's deal with GM means for its growing advertising business
▼ + stars: | 2023-02-02 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Netflix announced a new deal to integrate GM electric vehicles into popular shows like "Love is Blind" and "Queer Eye." On a press call announcing the deal, Lee said directors and showrunners would be involved in the process and that cars would be integrated in an "authentic" way so they don't "feel out of place." Netflix has a history of placing brands like Coke and GM in shows like "Stranger Things" and "Queer Eye." Lee insisted the GM deal isn't "product placement" and that GM isn't paying to put its vehicles on shows. Terms of the deal weren't shared; GM said it wasn't part of a TV ad buy on Netflix's Basic with Ads.

☆ Bright lights and snazzy mannequins: Walmart rolls out sleek new store designs
▼ + stars: | 2023-01-28 | by ( Melissa Repko | ) www.cnbc.com time to read: +7 min

In company surveys, he said nearly every shopper said the store's displays and mannequins encouraged them to browse longer. Walmart's new store design includes displays that show off how a customer could decorate a nursery or kitchen. Melissa Repko | CNBCWashington declined to share data about Walmart's store traffic and sales at its Springdale store and other flagships that have opened in recent months. Visits to its Walmart store in Springdale, Ark. Victor Millan, of Ridgefield Park, New Jersey, makes weekly shopping trips to the Walmart in Teterboro for groceries and other items.

☆ Nike's messy dispute over who gets credit for signing Michael Jordan is hitting the big screen in film starring Ben Affleck and Matt Damon
▼ + stars: | 2023-01-24 | by ( Matthew Kish | ) www.businessinsider.com time to read: +6 min

That debate will get renewed attention in April when Ben Affleck and Matt Damon release "Air," a movie that recounts how Nike signed Jordan. "A lot of people want to take credit for signing Michael Jordan, most obviously Sonny Vaccaro." It's unclear if Vaccaro spoke with Knight, Vaccaro, or Jordan or if he relied on existing sources, including "Sole Man," an ESPN documentary about Vaccaro. Several books and news stories also have recounted how the Jordan deal came about, including parts of "Just do it," "Swoosh," and a sweeping 1992 story in the Washington Post. Regardless of the movie's spin on events, the Jordan deal was a pivotal moment for Nike.

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☆ How Nike's Air Jordan 1 became — and remained — the most prized lifestyle sneaker
▼ + stars: | 2022-11-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

Nike on Saturday will release the Air Jordan 1 Chicago "Lost and Found"Some collectors consider it the "most iconic sneaker of all time." "The Air Jordan 1 is the most iconic sneaker of all time," said Jordan Geller, a sneaker collector and former owner of the ShoeZeum who in 2020 sold a pair worn by Jordan for a record $560,000. Michael Jordan wearing the Air Jordan 1 in 1985. AP Photo/Marcio Jose SanchezScarcity, storytelling, collaborations and the "Last Dance"After 1985, The Air Jordan 1 didn't re-release in original specs until 1994. "All of those releases are coveted by sneaker collectors and the 'Lost and Found' Air Jordan 1 will be as well," Geller said.

☆ An influencer manager who has done $327,000 in deals this year shares the exact email template he uses to pitch brands
▼ + stars: | 2022-11-18 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

In 2020, Christian Di Bratto was a senior in high school and had a part-time job as a hockey instructor. The key to a successful cold email, Di Bratto said, is including a personalized first line. To craft a good personalized line, Di Bratto generally looks at a person's LinkedIn for their work experience or education. To maximize his output, he uses an automated system that allows him to send out dozens of cold emails at once. He puts together a list of people at his target companies that have job titles like "influencer marketing manager," "brand partnerships manager," or "PR manager."

☆ Adidas scoops up CEO who turned around rival Puma
▼ + stars: | 2022-11-08 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN Business —Adidas has appointed the head of Puma to succeed outgoing CEO Kasper Rorsted, betting on his ability to replicate its crosstown rival’s comeback. Norwegian Bjørn Gulden, 57, will become CEO of Adidas (ADDDF) on January 1, 2023, the German sportswear brand said in a statement on Tuesday. “As CEO of Puma, he re-invigorated the brand and led the company to record results,” Rabe added. Gulden takes over amid a deepening slump in Adidas’ home market of Germany and as inflation begins to weigh heavily on consumer spending globally. Chief financial officer Harm Ohlmeyer will lead Adidas until Gulden takes over.

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