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U.S. officials visiting South Africa this week to meet African trade ministers will face calls to reauthorise the African Growth and Opportunity Act (AGOA) which expires in 2025. Apparel companies and industry insiders warn that Africa risks a once-in-a-generation shift away from Chinese manufacturing passing it by, with an estimated 240,000 to 290,000 jobs such as Nasimiyu's under threat. Apparel has been the standout success story of AGOA, which launched in 2000 to help develop African economies and foster democracy. African apparel exports under the programme reached nearly $1.4 billion last year, double the amount pre-AGOA. "We've been struck by how open the opportunity is now for us," South African Trade Minister Ebrahim Patel said last week.

Persons: Norah Nasimiyu, Thomas Mukoya, Pankaj Bedi, Norah Nasimiyu's, We've, Ebrahim Patel, Stephen Lamar, Michael Walsh, Constance Hamilton, Biden, Greg Poole, Bedi, Joe Bavier, Duncan Miriri, Alexander Smith Organizations: United Aryan, Processing, The U.S, REUTERS, U.S . Congress, AFRICA Industry, African Trade, United States Fashion Industry Association, American Apparel and Footwear Association, Congress, Research, U.S . International Trade Commission, GSP, UAL, Thomson Locations: Ruaraka district, Nairobi, Kenya, China, NAIROBI, U.S, South Africa, Africa, Philadelphia, Moscow, Beijing, Russia, Lesotho, Madagascar, Ethiopia, AGOA, gridlock, United States, Johannesburg

☆ Charlie Munger says he dislikes fashion stocks like Nike - but he'd buy Hermès stock if it was cheap enough
▼ + stars: | 2023-11-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Charlie Munger avoids fashion stocks like Nike, but he'd invest in Hermès at a compelling price. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementCharlie Munger isn't a fan of fashion retail, but there's one luxury stock he'd own at the right price. Buffett's business partner also touched on Kraft Heinz, which counts Berkshire as its biggest shareholder with a nearly 27% stake. AdvertisementAdvertisement"Kirkland is a brand the way Tide is a brand, and Hermès is a different kind of a brand," Munger said.

Persons: Charlie Munger, Warren Buffett's, Munger, —, Charlie Munger isn't, I'm, Birkin, Hermès, Kraft Heinz, Heinz, Kirkland Organizations: Nike, Service, Berkshire Hathaway's, Berkshire, Kraft Locations: Hermès, Berkshire

☆ With Gen Z, millennials now the biggest ‘dupe’ shoppers, online culture has ‘flipped the script,’ analyst says
▼ + stars: | 2023-10-31 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

So-called girl math is not the only trend spurred by users on the short-form video app TikTok. "Dupes," short for "duplicate," are cheaper alternatives to premium or luxury consumer products, and they are increasingly popular among Gen Z and millennial shoppers and app users. While nearly one-third of adults, 31%, have intentionally purchased a dupe of a premium product at some point, Gen Z and millennials have higher participation rates: roughly 49% and 44%, respectively, according to Morning Consult. "The online culture of dupe shopping, accelerated by TikTok especially in the last few years, has flipped the script," said Ellyn Briggs, brands analyst at Morning Consult. While shoppers may miss out on the experience luxury products provide, dupes are less expensive versions that help consumers save money and test an item before splurging on the real thing.

Persons: Z, Gen, Ellyn Briggs, that's, Marisa Meltzer, Meltzer, Emily Weiss's Glossier Organizations: TikTok, Morning, Finance Locations: New York

☆ ‘We lost control of who we were.’ Why Phillip Lim’s return to fashion matters
▼ + stars: | 2023-10-30 | by ( Alex Rees | ) edition.cnn.com time to read: +16 min

(CNN) — The tears were flowing backstage at Phillip Lim’s latest runway show, as the fashion designer made has return to the New York Fashion Week last month after four years away. CNN: Did planning your return to New York Fashion Week take you back to when you launched 3.1 Phillip Lim in the first place? Models pose during the presentation of 3.1 Phillip Lim's Fall-Winter 2006 collection at New York Fashion Week on February 4, 2006. JP Yim/WireImage/Getty ImagesZhou: 3.1 Phillip Lim was founded on the idea of ‘why not?’Phillip and I were both 31-years-old. Does 3.1 Phillip Lim have that roadmap right now, or is the ‘second act’ still being written?

Persons: Phillip Lim’s, Lim, ”, Phillip Lim, Wen Zhou, Madison McGaw, Phillip Lim’s “, Zhou, it’s, ” Phillip Lim “, ” Lim, ‘, I’m, let’s, couldn’t, Phillip Lim's, JP Yim, ’ Phillip, Phillip, we’d, It’s, Ezra J, William, Tina Leung, Prabal Gurung, Laura Kim —, Slay, Eva Chen, Dimitrios Kambouris, Phillip Lim CNN, Liya Kebede, Liya, Phillip Lim Spring, Victor Virgile, ’, I’ll, You’ve, John Nacion, —, Sou Lai, That’s what’s Organizations: CNN, New York, titans, Zhou, Pacific Islanders, Getty, Sou Lai CNN Locations: New York, New, New York City

ABUJA, Nigeria (AP) — Africa’s fashion industry is growing rapidly to meet local and international demand but inadequate investment limits its potential, UNESCO said Thursday in a report released during Lagos Fashion Week. The demand for African fashion brands is also spurred by the growth in e-commerce, the UNESCO report noted. It’s really beautiful to see because it hasn’t always been like this,” said Omoyemi Akerele, who founded the Lagos Fashion Week in 2011 to encourage the patronage of Nigerian and African fashion. In Nigeria and other parts of Africa, young fashion designers are hungry for success and are taking over the global scene, said the UNESCO director-general. “So Africa is really the next frontier (for the fashion industry).”___Associated Press journalist Dan Ikpoyi in Lagos, Nigeria contributed.

Persons: Audrey Azoulay, ”, Omoyemi Akerele, “, Ejiro Amos, Tafiri, Dan Ikpoyi Organizations: UNESCO, Lagos Fashion, U.S . International Trade Administration, Associated Press Locations: ABUJA, Nigeria, Lagos, Africa, Nigerian

☆ Kim Kardashian's $4 billion Skims empire is selling body-hugging boxers and briefs to men
▼ + stars: | 2023-10-23 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Kim Kardashian's Skims is adding men's products like boxers and briefs to its online store this week. AdvertisementAdvertisementKim Kardashian's shapewear brand Skims is launching a menswear collection. This includes a range of men's products such as boxers, briefs, t-shirts, undershirts, tank tops, and leggings, and will be available to shop online from Thursday. Kardashian told The Wall Street Journal that Skims shoppers have been requesting men's products for their boyfriends and husbands for some time. Skims was valued at $4 billion in July after a $270 million funding round.

Persons: Kim Kardashian's, Skims, —, Kardashian, Emma, Jens Grede, SKIMS, Neymar Jr, Shai Gilgeous, Alexander, Nick Bosa, Kardashian's, Tom Brady's, Brady, Gredes Organizations: Service, Wall Street, NFL

☆ Meet the Gredes: The fashion powerhouse couple behind billionaire celebrity brands like Skims and Brady
▼ + stars: | 2023-10-21 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +1 min

Emma and Jens Grede are the power couple behind celebrity brands like Skims and Brady. The European couple has co-founded seven brands between them. AdvertisementAdvertisementBehind the glitz and glamor of celebrity apparel brands like Skims , Good American, and Brady , there's a powerhouse couple with a resume and investment portfolio worth millions. Emma and Jens Grede are founders, investors, and tastemakers in the fashion industry with connections from London to Hollywood. The European couple has co-founded seven brands between them.

Persons: Emma, Jens Grede, They've, Kardashian, Jenner, —, Brady, there's, Kim Kardashian's, that's, Lauren Sherman, Kylie Jenner Organizations: Service Locations: Brady, London, Hollywood

☆ Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
▼ + stars: | 2023-10-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +16 min

The committee is investigating Shein over concerns that Uyghur forced labor is being used in its supply chain and has gone undetected because of the de minimis provision. The committee has not yet drawn conclusions about forced labor in Shein's supply chain. When asked about claims of forced labor in Shein's supply chain, Claure told CNBC he doesn't "believe those allegations are correct." However, forced labor can still show up in other parts of the supply chain, said Chloe Cranston, the head of thematic advocacy programmes at Anti-Slavery International. In 2022, 11% of audits turned up "zero tolerance violations," including child labor, forced labor and wage violations, and 28 suppliers were terminated as a result, according to the company.

Persons: Elham Ataeiazar, Shein, Donald Tang, Matt Kennedy, they're, they've, Mike Gallagher, Elise Stefanik, Steve Scalise, Chip Somodevilla, we're, Marcelo Claure, Claure, Ralph Lauren, Rupert Hodges, Oritain, Chloe Cranston, Cranston, It's, it's, Shang, Jin Wei, Wei, Austin Knudsen, Chris Xu, Jade Gao, Knudsen, Gary Gensler Organizations: Wall, Bear, Chinese Communist Party, U.S, Renaissance Capital, CNBC, Bloomberg, Nike, Adidas, Republican National Committee, Washington , D.C, D.C, Target, Costco, Visual China, Getty, Workers, Columbia University's, Communist, CCP, Microsoft, AFP, U.S . Securities, Exchange Locations: Bear Stearns, U.S, China, Beijing, Xinjiang, Washington ,, Washington, Singapore, Nanjing, United States, Chinese, Guangzhou, Brazil, Turkey, India, Mexico, Montana

☆ 3D-weaving tech that uses body-scan data from shoppers could mean a better fit, fewer returns, and a zero-waste future for fashion
▼ + stars: | 2023-10-12 | by ( Jake Hall | ) www.businessinsider.com time to read: +10 min

But 3D manufacturing, including printing and weaving, is helping create a zero-waste future. AdvertisementAdvertisementIn the late 1990s, the designer Issey Miyake unleashed his game-changing A-POC project, an early attempt at zero-waste fashion. Existing innovations are being fine-tuned daily, and creators are dreaming up ways to turn zero-waste fashion from a utopian dream into a reality. Despite these restrictions, Pasricha's designs were proof that zero-waste 3D printing was possible, especially with small designs such as buttons and jewelry. AdvertisementAdvertisementThe tech isn't there yet to ensure a zero-waste fashion industry, for various reasons.

Persons: —, Issey Miyake, Kevin Martin, Ashley Batz, Unspun, Martin, you'll, Catherine University's, Pasricha, Iris van Herpen, Martin lauds, Vega Organizations: Service, Oakland microfactory, Rhino Locations: California, Lam, — St

☆ How Karol G went from a Latin music star to a fashion icon
▼ + stars: | 2023-10-06 | by ( Robb Young | Graciela Martin | ) edition.cnn.com time to read: +24 min

With 66 million followers on the platform, Karol G ranks 70th in terms of follower count but 6th when it comes to engagement rates. But the label’s enthusiasm for its Karol G campaign a half-year after its release is telling, nonetheless. Karol G attends the #BoF500 Gala during Paris Fashion Week at Shangri-La Hotel Paris on September 30, 2023 in Paris, France. By the time Karol G entered the scene in a big way, fashion, luxury and sportswear giants were still warming up to her male counterparts. People aren’t as fixated on that anymore.”Indeed, it is the shift in attitudes toward language that appears to have helped Karol G secure the Loewe deal.

Persons: Karol G, Jonathan Anderson, Karol’s, Shakira, — Karol G, Provenza, “, ”, Nicki Minaj —, Karol, Karol G's, she’s, Lea Colombo, “ Karol G, Charlie Smith, Loewe, couldn’t, Ricky Martin’s, hasn’t, “ I’ve, Anderson, Karol G’s, ” Karol G, Christopher Polk, SocialBook, Kim Kardashian, Julian Martinez, ” Martinez, “ Karol, Miu, Roberto Cavalli, Gina Ferazzi, Loewe’s Smith, Jacquemus, Barbie, Emilio Pucci, —, Vetements, Rick Owens, Pascal Le Segretain, Maykol Sanchez, Spotify’s, Yankee’s, Don Omar’s, Maluma, J, Nicky Jam, . Ivy Queen, Jennifer Lopez, Shakira —, Burberry —, Becky G —, Karol —, Ovy, Bad Bunny, Rich Fury, Karla Martínez, There’s, Leila Cobo, Billboard’s, ” Cobo, aren’t, “ Jonathan, ” Karol, Carolina Giraldo Navarro, Colombia’s, J Balvin, Cobo, She’s, ” she’s, haven’t, ’ ” Karol G, Alexander Tamargo, Nina García, Elle, García, ” García, I’ve, I’m, it’s, Brett Alan Nelson, I’d Organizations: The, Fashion, CNN, —, Billboard, MTV, New York City’s Rockefeller Center, Variety, Los Angeles Times, Getty, Brands, Los, Paris, Spotify, Reebok, Umbro, Dolce, Gabbana, Nike, Guess, Adidas, Trailblazers, Burberry, Levi’s, Kappa, Puerto Rican, Pew Research Center, Limits, Vogue Mexico, reggaeton’s, Loewe, Carolina, Puerto Locations: Spanish, ”, Latin America, New York, Newark , New Jersey, California, Versailles, bejeweled, Paris, France, Spain, Italy, Germany, Canada, America, Balmain, Barcelona, Rosalía, American, Panama, Jamaica, Puerto Rico, Dominican, Caribbean, Medellín, Colombia, Puerto, Miami, Mexico City, Buenos Aires, Santiago, Chile, Austin, Austin , Texas, Mexico, North America, Europe, Dubai, Singapore, Nairobi, Puerto Rican, Sera, Miami , Florida, Colombiamoda

☆ ‘Remembering Leopards’: A book of photography is helping to save this elusive big cat
▼ + stars: | 2023-10-06 | by ( Callum Sutherland | ) edition.cnn.com time to read: +5 min

Through her Remembering Wildlife project, British photographer Margot Raggett is fighting against this trend. All profits are donated to conservation efforts for that animal, with more than £1 million ($1.2 million) raised since the project began, according to Remembering Wildlife. Raggett believes that showcasing beautiful images of the big cat raises awareness and captures the public’s attention. But it remains the world’s rarest big cat, according to WWF. “Remembering Wildlife is like one hose fighting a forest fire,” she says.

Persons: Margot Raggett, Mara, Jonathan, Angela Scott, Neil Aldridge, Suzi Eszterhas, Raggett, aren’t, ”, Sascha Fonseca, Vidya Athreya, Athreya, Owen Grobbler Raggett, “, Jonathan Scott, Pete Oxford, “ We’re Organizations: CNN, Wildlife, ” Leopards, WWF, Conservation Society, Remembering Wildlife, Rangers Locations: British, Ladakh, India, China, Russia, Hoedspruit, South Africa, Afghanistan, Africa, Odzala, Republic of Congo

☆ New exhibition shines a light on the forgotten Black voices of fashion
▼ + stars: | 2023-10-05 | by ( Funmi Fetto | ) edition.cnn.com time to read: +6 min

“The Missing Thread, Untold Stories of Black Fashion” is filled with photos like this, as the showcase dives deep into the history of Black British culture from the 1970s to the present day — specifically, how it has been a forgotten influence on the fashion industry. British Jamaican photographer Vanley Burke has spent over 50 years documenting Black British communities in Birmingham. London-born photographer Jennie Baptiste is another artist getting her dues in "The Missing Thread." At the center of the exhibition is the work of Black British designer Joe Casely-Hayford, who died in 2019. Casely-Hayford was nominated for Womenswear British Designer of the Year in 1989 and also Innovative Designer of the Year in 1991.

Persons: London CNN —, Neil Kenlock, ”, Andrew Ibi, Jason Jules, Harris Elliot —, Jules, Black creatives, Law Roach, Chioma Nnadi, Ibi, Elliot, Vanley Burke, “, Wayne Pinnock, Pinnock’s, Suzy Menkes, Pinnock, Jennie Baptiste, Pinky, Chinyere Eze, Brenda Cuffy, Charlie Allen, Joe Casely, Hayford, Kevin Davies, White, Bruce Oldfield, Queen, Ozwald Boateng, Savile, Bono, Charlie, Harris Organizations: London CNN, London’s Somerset House, Development Agency, CNN, Somerset House, Royal College of Art, New York Times, Moschino, Vogue, British Empire, Victoria & Abert Museum, FIT Locations: British, Birmingham, Handsworth Park, Somerset, Milan, London, Casely, New York City

PARIS (AP) — An afternoon of stardom, surprise and style reverberated in the heart of Paris Fashion Week on Saturday. As Andreas Kronthaler for Vivienne Westwood unfolded, it became clear: Fashion’s wild heart is alive and beating stronger than ever. The eccentric behind this show is no stranger to the spotlight, and it’s clear he’s carving his niche within the Westwood legacy. Political Cartoons View All 1190 ImagesDelving into Kronthaler’s history with Westwood, one can trace his growth. Anderson hailed Westwood as a “climate revolutionary,” expressing her deep respect for the designer’s proactive stance on climate change.

Persons: Andreas Kronthaler, Vivienne Westwood, Pamela Anderson, Christina Hendricks, he’s, Ariel, Westwood, PAMELA ANDERSON, VIVIENNE WESTWOOD, Anderson, ” Anderson, Stella McCartney, Chloe, “ Vivienne, Don’t, Louise Trotter, trailblazer Marie, Louise Carven, Ma Organizations: PARIS, Westwood, VIVIENNE WESTWOOD SHOW, Associated Press, trailblazer Locations: Paris, Vendome

☆ Donatella Versace slams Italian government’s anti-LGBTQ+ policies
▼ + stars: | 2023-09-28 | by ( Marianna Cerini | ) edition.cnn.com time to read: +5 min

Milan CNN —Just days after Milan Fashion Week, Donatella Versace is making headlines not for her — albeit well-received — Spring-Summer 2024 collection but for her stance on the Italian government’s anti-LGBTQ+ policies. Our government is set on taking away the rights of individuals to live as they wish,” Versace said. Italian Prime Minister Giorgia Meloni’s far-right-led coalition has pushed for ongoing measures to restrict LGBTQ rights. Many Italians are with us.”Versace, however, has long been a vocal advocate for gay rights. During her speech on Sunday, the designer recalled her late brother Gianni Versace coming out to her as gay when she was 11 years old.

Persons: Milan, Milan CNN —, Donatella Versace, Giorgia Meloni’s, Versace, ” Versace, Meloni’s, Andrzej Iwanczuk, Alessandro Zan, Zan, Donatella Versace’s, ”, ” Gabriele Piazzoni, “ Versace, Giorgia, ” Fabrizio Marrazzo, “ She’s, hasn’t, “, Marrazzo, Gianni Versace Organizations: Milan CNN, Milan, Catholic, CNN, Italy’s Gay Party, Capri Holdings, Versace Foundation Locations: Milan, Italy, Padua, Italian

☆ Harry Styles, Bjork and celebrating fashion’s rebels
▼ + stars: | 2023-09-25 | by ( Zoe Whitfield | ) edition.cnn.com time to read: +6 min

Bjork wearing a Marjan Pejoski swan dress — complete with egg, laid on the red carpet — to the 2001 Academy Awards in Los Angeles. “Christopher Kane’s amazing neon dresses were made of lace, lingerie and elastic bought at a market in east London,” she explained. Style.com, as a resource, had a huge impact – immediately designers could understand how many people they were reaching,” said Lewin. Those technological shifts had an enormous impact.”The exhibition features clothing and fashion ephemera from the past 30 years. “Same as every other creative industry, changes in the education system and the cost of living have ripple effects on the way designers function within a city like London,” she said.

Persons: Newgen, Tony Blair, ’, Porter, Bjork, Wally Skalij, Rebecca Lewin —, Sarah Mower —, “ Lee McQueen, ”, Lewin, Alexander McQueen, Andy Stagg, Grace Wales Bonner, JW Anderson, Kim Jones, Mary Katrantzou, Duro Olowu, Richard Quinn, Simone Rocha, McQueen’s, Simon Ungless, Lee, Martine Rose, Charles Jeffrey’s, Nasir Mazhar, Harikrishnan Keezhathil Surendran Pillai, HARRI, Daley’s Liverpool, Steven Stokey, Daley, Pejoski, Sam Smith, Harry Styles, Singer Sam Smith, “ Christopher, you’ve, ‘ Organizations: London CNN, London, Los Angeles Times, Vogue, CNN, British Fashion Council, BFC, Ritz, Central Saint Martins, University of Westminster, London College of Fashion, BRIT, Design Museum Locations: British, Britain, Iraq, Los Angeles, London, Central Saint, India, Macedonia, “

☆ Where Fashion Knows No Bounds
▼ + stars: | 2023-09-23 | by ( Simbarashe Cha | Photographs | ) www.nytimes.com time to read: 1 min

Some people in the fashion industry think that London Fashion Week has become less exciting than its counterparts. During the shows in London, maybe more than in any other fashion week city, the streets are a sort of laboratory for experiments in getting dressed. The style can be so ahead of the curve that trends happening elsewhere are already considered over. Judging by the crowds, fuzzy sweaters that were tied around the body or worn in other unusual ways. There were also lots of neckties, often worn traditionally and by women.

Persons: tabis Locations: London

☆ JD Sports CEO: We're seeing 'huge demand' from Europe
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJD Sports CEO: We're seeing 'huge demand' from EuropeRégis Schultz, CEO of JD Sports, discusses earnings and the fashion industry.

Persons: Europe Régis Schultz Organizations: JD Sports Locations: Europe

Prince William flew to New York on Monday for a two-day visit during which he attended the second Earthshot Prize Innovation Summit, an event which coincides with both Climate Week NYC and the 78th session of the UN General Assembly, and where the finalists were unveiled. Prince William speaks with kids as he visits Billion Oyster Project in New York City on Monday. Cindy Ord/Getty ImagesUpon touching down at Newark Airport on Monday, the Prince of Wales said it was good to be back in the US. “No one does optimism and ingenuity like the American people, so it’s only right we unveil this year’s Earthshot finalists in New York City,” William said. And vital.”The five Earthshot categories and finalists are:Protect and Restore NatureAccion Andina - Peru: A grassroots project working across South America to protect native forest ecosystems across the Andes.

Persons: Prince, Prince William, John F, Cindy Ord, Wales, ” William, “, Kennedy Organizations: London CNN, UN, Assembly, Royal Foundation, Getty, Newark Airport, Air, US, Global, Technologies, Circ Inc Locations: Wales, New York, Singapore, United States, New York City, Peru, South America, Freetown, Tree, Sierra Leone, Council, Belterra, Brazil, Poland, United Kingdom, Hong Kong, South Africa, India

☆ British Vogue announce Chioma Nnadi as Edward Enninful’s successor
▼ + stars: | 2023-09-18 | by ( Nicole Mowbray | ) edition.cnn.com time to read: +3 min

CNN —British Vogue announced Monday that Chioma Nnadi will replace Edward Enninful as the head of the magazine. Nnadi — described as a “Vogue veteran” by Condé Nast, the publishing house that owns Vogue — will be the first Black woman to edit the historic fashion title. I’m so grateful to Edward Enninful for everything he’s accomplished at British Vogue, and we’re all looking forward to a productive and creative relationship with him in his new role. Edward Enninful attends a party celebrating Vogue World during London Fashion Week on September 14, 2023. Yeah, there’s definitely pressure – it’s Vogue,” and added, “It still means something to be in Vogue, it still has authority.

Persons: Edward Enninful, Nnadi —, ”, Condé Nast, Chioma, Stefan Ruiz, Conde Nast Nnadi, Rihanna, Erykah Badu, Cara Delevingne, Anna Wintour, ” Wintour, David M, Enninful —, —, Enninful, Nnadi, Edward Organizations: CNN, British Vogue, Vogue, American Vogue, Global, London, Guardian Locations: British, France, Italy, India, Japan, Nigerian, Swiss, London, New York, Vogue

☆ The latest data signals the Fed will pause next week and keep future rate hikes on the table
▼ + stars: | 2023-09-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

That data indicates that the Federal Reserve is still likely to hold rates steady next week, some investors say. Inflation: US inflation climbed 3.7% in August from the prior year, marking an acceleration for the second consecutive month, according to the latest Consumer Price Index. Excluding the boost from gas station sales, retail spending added 0.2% in August from July. Traders see a roughly 97% chance that the central bank keeps rates unchanged in September, according to the CME FedWatch Tool. The central bank has now raised its main interest rate at 10 consecutive meetings, taking it to the highest level since the launch of the euro currency in 1999.

Persons: “, ”, Sam Millette, Price, Taylor Swift, Bill Adams, Jerome Powell, Liz Young, CNN’s Olesya, Michelle Toh ., Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Commonwealth Financial Network, National Federation of Independent Business, Comerica Bank, Traders, European Central Bank, Central Bank, ECB, Cornell University, Schroders, Fashion, Cornell’s Global Labor Institute Locations: Saudi Arabia, Russia, Jackson Hole , Wyoming, Bangladesh, Pakistan, Vietnam, Cambodia, Schroders

☆ How knockoffs took over America
▼ + stars: | 2023-09-14 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +10 min

But these fake products have major financial and societal impacts that can lead to lost sales, jobs, and livelihoods. US Customs and Border Protection officers inspect boxes of counterfeit products at the Los Angeles/Long Beach Seaport complex. Edward Berthelot/GettyWhy sales of counterfeit goods have soaredE-commerce has been a breeding ground for knockoffs. AdvertisementAdvertisementAccording to the US Sentencing Commission , the maximum sentence for selling counterfeit goods is 10 years in prison. In 2020, Amazon established its Counterfeit Crimes Unit, which works with brands to identify and remove counterfeit products.

Persons: Daniel Shapiro's, Hugo Boss, counterfeiters, Spencer Platt, Getty, Shapiro, Jason Armond, Gabrielle Chanel, Michael Kors, Gucci, Chanel, Zers, Edward Berthelot, Superfakes, They've, Wang Zhao, I'm, counterfeits, It's Organizations: Service, Red, Puma, Fila, eBay, US Department of Homeland Security, International Chamber of Commerce, Frontier Economics, Customs, Border Protection, Los, United States Intellectual, United Nations Office, Drugs, UN, Seaport, Economic Cooperation, Development, US Chamber of Commerce, US Customs, Protection, US, Commission, Nike, Amazon Locations: Wall, Silicon, Manhattan, Los Angeles, Long, Beijing, Europe, China

☆ Extreme weather may cost the global fashion industry $65 billion by 2030
▼ + stars: | 2023-09-14 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Together, they account for 18% of global apparel exports, roughly 10,000 clothing and footwear factories and more than 10.6 million manufacturing workers. Pakistan, especially, is no stranger to extreme weather, with more than one third of the country underwater last year during its worst floods in history. The first scenario includes the assumption that heat stress will cause considerable changes in worker productivity. For example, output may decline by about 1.5% for each 1°C increase in the “wet-bulb globe temperature,” a measure of heat stress, according to the report. “Workers need these investments now because extreme heat standards and flood protections are non-existent.”

Persons: Mohammad Ponir Hossain, Schroders, Jason Judd Organizations: Hong Kong CNN, Cornell University, Schroders, Fashion, Cornell’s Global Labor Institute, Reuters, Cornell, “ Workers Locations: Hong Kong, Bangladesh, Pakistan, Vietnam, Cambodia, Schroders, Dhaka, Phnom Penh, Karachi, Lahore, Ho Chi Minh City, Hanoi, South, Southeast Asia

NEW YORK (AP) — “I always know, because I've lived life long enough, you can change things," Bethann Hardison said at the start of "Invisible Beauty,” a new documentary focused on her more than five decades in fashion. “She has changed the way beauty is defined.”Hardison co-wrote and co-directed the film with Frédéric Tcheng ("Halston," “Dior and I”). TCHENG: I didn't know who Bethann was when I was asked to do a short film when she received the Council of Fashion Designers of America’s Founder's Award (2014). She’s really changed the way fashion looks. I think the fashion model might be here to stay, but I have my foot on the clutch, just in case.

Persons: — “, I've, Bethann Hardison, Hardison, ” Tracee Ellis Ross, “, ” Hardison, Frédéric, “ Dior, Frédéric Tcheng, hadn’t, America’s Organizations: Garment District, Girls ' Coalition, Diversity Coalition, of Fashion Designers Locations: “, Versailles, ”, New York, London, Paris, Milan, Brooklyn

☆ All smoke and no FIRE: Early retirees open up about the struggles of ditching their paychecks in exchange for freedom and the new ways they're generating extra income
▼ + stars: | 2023-09-13 | by ( Laila Maidan | Kathleen Elkins | ) www.businessinsider.com time to read: +14 min

Members pose questions from how to save and invest to how to raise a family while on the path to early retirement. Early retirement doesn't mean never working againBut the FIRE movement can be more smoke than fire. Think about what's important to you and what you want your lifestyle in early retirement to look like, Cheng said. One message he shares with his community is that early retirement may not be the ultimate finish line for everyone. He also started coaching high school tennis and grew his online blog that offers tips on early retirement.

Persons: Rachel Covert, Isaac Mizrahi, Covert, That's, subreddit, Gwendolyn Merz, Merz, She'd, Marguerita Cheng, Cheng, It's, Michael Quan, Quan, Winnie Jiang, Sam Dogen, Dogen, Sam Dogen Dogen, Shan Fu, Fu, I'm Organizations: Financial Independence, Social Security, Lean FIRE, FIRE, Fortune, Bureau of Labor Statistics, Credit Suisse, Millennials Locations: NerdWallet, New York City, Mexico, Portugal, Asia

☆ Watch: Speaker McCarthy Launches Impeachment Inquiry Into Biden
▼ + stars: | 2023-09-12 | by ( ) www.wsj.com time to read: 1 min

Can AI Help Make Fashion More Inclusive? The fashion industry is turning to artificial intelligence to help expand the body types and backgrounds of models in ads. Katharine Zarrella, the Fashion Director of WSJ Off Duty, joins host Zoe Thomas to discuss how the fashion world is dressing up AI. Plus, tech leaders descended on Washington to share their thoughts on how AI should be regulated. Photo: Tyrone Siu/Reuters

Persons: Katharine Zarrella, Zoe Thomas, Tyrone Siu Locations: Washington

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