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☆ How TikTok became a 'gold mine' for dancers looking to get discovered and changed the way they make money
▼ + stars: | 2023-04-07 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +11 min

"This app is a gold mine for artists like me who are still looking for their big break," Dharmapuram said. As TikTok has ascended, popular artists from Dua Lipa to Lizzo have integrated TikTok dances into their promotional strategies and seen their songs go viral. TikTok creators, professional dancers, choreographers, and dance companies who spoke with Insider said the app had changed the way they choreographed, helped them earn more money, and given them access to career opportunities they otherwise wouldn't have had. TikTok has also given dance companies and agents access to talent they otherwise wouldn't have known about. Even dance companies like American Ballet Theatre have gotten on the bandwagon.

☆ How TikTok has changed the dance industry, becoming a 'goldmine' for performers looking for their big breaks and driving choreography that fits the frame
▼ + stars: | 2023-04-06 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +11 min

"This app is a goldmine for artists like me who are still looking for their big break," Dharmapuraum said. As TikTok has ascended, popular artists from Dua Lipa to Lizzo have integrated TikTok dances into their promotional strategies and seen their songs go viral. TikTok has also given dance companies and agents access to talent they otherwise wouldn't have known about. Even dance companies like American Ballet Theatre have gotten on the bandwagon. As more people have hopped on TikTok dance trends, creators, especially those of color, have called for proper crediting for choreography, which the app has tried to address with more tools.

☆ Gen Z loves the same brand that teens have loved for over a decade
▼ + stars: | 2023-04-05 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Nike also remains the preferred apparel brand, according to the semiannual Piper Sandler survey. Twice a year, Piper Sandler surveys teenagers, now part of Gen Z, on brand preferences. And among upper-income female teenagers, Lululemon earned the top spot, being the preferred brand of 14% of respondents. Among upper-income males surveyed, Nike was the top clothing brand of 50% of those surveyed. For the most recent edition of the survey, Piper Sandler polled teenagers in 47 states.

☆ Inside Nike: Sources share claims of sexism, cheating, abuse at the world's wokest brand
▼ + stars: | 2023-04-05 | by ( Joshua Hunt | ) www.businessinsider.com time to read: +51 min

The conservative blowback came as no surprise to Parker, who told Nike's board of directors to expect some short-term backlash. In late 2014, the BBC sent a film crew to Portland to interview several former Oregon Project employees. "He would be at the side of the track calling out runners' splits but wouldn't call Kara's out," Adam Goucher told me. When people asked why she left the Oregon Project, she said it was a "personal decision." "I don't think it has anything to do with who the CEO is," Goucher told me.

☆ Meet the typical Adidas US customer, a 20-something who earns just under $100,000 and looks to Adidas for fashion and fitness apparel
▼ + stars: | 2023-04-05 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Adidas in 2022 reported $24.6 billion in sales across footwear, apparel, and sporting equipment. Adidas' typical customer is a millennial and Gen Z customer earning just under six figures. Today, Adidas employs over 59,000 workers and in 2022 reported $24.6 billion in sales, across categories like footwear and apparel. The typical US Adidas customer earns a mid-to-high average income of between $75,000 and $99,000, according to Start.io, a mobile marketing platform that helps partners serve relevant ads on their apps. "They're following the same lines in terms of fashion and sport," Omri Barnes, chief marketing officer at Start.io, told Insider.

☆ Kanye West and Sam Bankman-Fried lose billionaire titles on Forbes' annual rich list
▼ + stars: | 2023-04-05 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried and Ye, formerly known as Kanye West, have dropped off Forbes' billionaire list. Bankman-Fried's net worth tumbled from $24 billion in 2022 to less than $10 million, per Forbes. Bankman-Fried's net worth tumbled from $24 billion in 2022 to less than $10 million, according to Forbes wealth reporter Richard J. Chang. Bernard Arnault and his family topped the list with a net worth of $211 billion, according to Forbes. Forbes estimated the billionaire had around $39 billion knocked off his total net worth last year.

☆ Elon Musk loses his position atop Forbes’ annual billionaires list
▼ + stars: | 2023-04-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

This shouldn’t come as a surprise to Musk, whose position wobbled on the Forbes’ “Real-Time Billionaires” list, which is updated daily, for the past several months. Forbes explained that Musk’s wealth had fallen because his $44 billion Twitter purchase, funded by Tesla shares, scared investors and sent Tesla stock sinking sharply last year. Tesla gained much of those losses back this year but is still significantly lower than before Musk bought Twitter. Amazon founder Jeff Bezos lost the most amount of money of any billionaire on the list ($57 billion), knocking him down from second position to third. Forbes said that the total number of billionaires on this year’s list fell to 2,640 (down from 2,668), marking the second-straight year of decline.

☆ UBS Credit Suisse rescue is messy but unstoppable
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 3 (Reuters Breakingviews) - Very few people seem to want UBS (UBSG.S) and Credit Suisse (CSGN.S) to merge, but it’s unlikely that anyone will stop it. Switzerland’s Federal Prosecutor has opened an investigation into the state-arranged deal, the office of the attorney general said on Sunday. Credit Suisse’s share price is just 3% below the level where it should be based on the deal terms. A Credit Suisse 2033 bond , which could be converted to equity and potentially wiped out in a resolution, trades with a 6.4% yield, compared with 13% before the rescue. The lower return implies a high likelihood that it will be absorbed by UBS through the merger.

☆ Paris vote rocks scooter rental firms’ shaky ride
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 3 (Reuters Breakingviews) - The business of renting out electric scooters is taking a turn for the worse. Turnout for the vote was low - only 7% of the population registered for it, and they were skewed towards older age groups, who tend not to ride such scooters anyway. The sector was already facing a tougher environment for raising capital and is struggling to turn a profit. The vote is also a potential red light for Lime, which is eyeing a listing. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ UK car targets count on the kindness of strangers
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 30 (Reuters Breakingviews) - The UK has followed the European Union in watering down plans to phase out fossil fuel cars – sort of. UK car production has roughly halved since the Brexit vote to just 900,000 cars last year, according to Inovev data. The shift to electric vehicles will see carmakers want robust local battery supply chains and cheap energy, in which the UK is lagging. Sunak on Thursday announced support for the energy transition, and hinted at more money for carmakers “in the coming months”. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ H&M’s targets may call the peak on cost inflation
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

On Thursday, the $20 billion fast-fashion retailer said its sales rose by 3% year-on-year in the three months that ended in Feb. 28. More importantly, she is now targeting a 10% operating margin in 2024. The retailer’s operating margin halved in 2022 to 3.2% as the price of cotton, freight, staff and energy costs ate up a larger share of its revenue. Delivering a 10% operating margin next year would imply that she expects the worst to be over in terms of commodity-price inflation and a wider economic slowdown. H&M’s share price rose by 15% on Thursday.

☆ Adidas to Drop Opposition to Black Lives Matter’s Three-Stripe Logo
▼ + stars: | 2023-03-29 | by ( Joshua Kirby | ) www.wsj.com time to read: 1 min

An Adidas store in New York. Adidas AG said it would retract its opposition to Black Lives Matter’s bid to trademark its logo design, which the sportswear company had previously said was too similar to its own. Adidas will withdraw its challenge to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible, a spokesman for the German company said Wednesday.

Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes. "Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation's trademark application as soon as possible," the company said in a statement. The Black Lives Matter Global Network Foundation is the most prominent entity in the decentralized Black Lives Matter movement, which arose a decade ago in protest against police violence against Black people. Representatives of the Black Lives Matter group did not immediately respond to a request for comment Tuesday. A jury in that case decided in January that Thom Browne's stripe patterns did not violate Adidas' trademark rights.

☆ Adidas Ends Its Opposition to Black Lives Matter Logo
▼ + stars: | 2023-03-29 | by ( Trefor Moss | Joshua Kirby | ) www.wsj.com time to read: 1 min

The three-stripe Adidas logo has been in use for over 70 years, the company says. Adidas AG said it would drop its opposition to Black Lives Matter’s bid to trademark its logo design, which, like the sportswear company’s emblem, features three stripes. The German brand has in the past fiercely defended its logo design, which comprises three diagonal stripes, albeit with mixed success. The Black Lives Matter Global Network Foundation’s logo, which the advocacy group is seeking to trademark, consists of three parallel yellow lines on a transparent background.

☆ Black Lives Matter dodges Adidas legal battle, but other brands using striped logos remain targets
▼ + stars: | 2023-03-29 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Adidas has retracted its notice of opposition against Black Lives Matter trademarking its logo. But BLM's stripes are yellow as opposed to Adidas' black and white branding. In the notice of opposition, Adidas went into great detail about its 70-year history using the three-stripe mark in collaborating with artists and athletes. An Adidas spokesperson told Insider that it will withdraw its opposition to BLM registering its trademark "as soon as possible." Adidas has at least five pending cases involving its three stripes logo against companies like Elite Custom Wear, Equicor LLC, and Sol Echo.

☆ Adidas drops trademark complaint against Black Lives Matter
▼ + stars: | 2023-03-29 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

The German sportswear company said Wednesday it was dropping its opposition to an attempt by a Black Lives Matter campaign group to trademark a logo featuring three parallel stripes. “Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” a company spokesperson said in a statement. Adidas (ADDDF) filed a complaint with the United States Patent and Trademark Office on Monday, arguing that the foundation’s logo was “likely to cause confusion” with its own three-stripe logo featured on its apparel. Adidas retracted its complaint over fears that it could be seen as an objection to the cause of Black Lives Matter (BLM), Reuters reported, citing an unnamed source close to the company. The Black Lives Matter Global Network Foundation is a nonprofit organization that supports the wider BLM movement.

☆ Adidas adds risk by tripping over its sneakers
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 29 (Reuters Breakingviews) - Adidas (ADSGn.DE) is having a hard time keeping its feet out of its mouth. On Wednesday, the $28 billion sneaker maker withdrew a trademark objection to Black Lives Matter over its use of three stripes in its logo 48 hours after filing it. The timing of Adidas’s objection looks tin-eared. It could have devised a partnership arrangement with Black Lives Matter that featured both brands. Trying to pick a fight with an organisation popular with young consumers shows that Adidas’s biggest risk is its mouth.

☆ Apple awkwardly pushes into buy-now-pay-later
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 29 (Reuters Breakingviews) - Apple (AAPL.O) is late to the buy-now-pay-later party. If anyone can help validate the product, it’s Apple, but times are considerably tougher. Apple will be well-versed in these risks, but a bigger crackdown is probably coming. What’s more, shifting consumer sentiment and a cooling economy could hurt demand and increase the risk of bad loans. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Adidas and Beyoncé to Part Ways After Ivy Park Sales Struggles
▼ + stars: | 2023-03-28 | by ( Khadeeja Safdar | ) www.wsj.com time to read: 1 min

Grammy-winning artist Beyoncé reached a deal with Adidas in 2019 after launching the Ivy Park brand in 2016. Beyoncé and Adidas AG have decided to end their fashion partnership, according to people familiar with the matter, splitting up after years of lackluster sales for her Ivy Park line of apparel. The partnership will end after the company releases Ivy Park collections of merchandise that are already planned for this year, the people said. The Hollywood Reporter earlier reported that the two sides were breaking up.

☆ Adidas ends partnership with Beyonce - WSJ
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] Beyonce accepts the award for Best Dance/Electronic Music Album for "Renaissance" during the 65th Annual Grammy Awards in Los Angeles, California, U.S., February 5, 2023. REUTERS/Mario AnzuoniLONDON, March 28 (Reuters) - Adidas (ADSGn.DE) has ended its fashion partnership with Beyoncé, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. If confirmed, it would mark a second high-profile split between Adidas and a celebrity partner, after the German sportswear giant ended its collaboration with Kanye West over his antisemitic comments. Adidas, which had signed a deal with Beyoncé in April 2019 to relaunch her brand Ivy Park, declined to comment. The Wall Street Journal said sales of Ivy Park have been underperforming expectations for years.

Trademark Office to reject an application for a Black Lives Matter trademark featuring three parallel stripes, arguing it could mislead the public. Adidas told the office in a Monday filing that Black Lives Matter Global Network Foundation Inc's yellow-stripe design would create confusion with its own famous three-stripe mark. Representatives for the Black Lives Matter group did not immediately respond to a request for comment Tuesday. The Black Lives Matter Global Network Foundation is the most prominent entity in the decentralized Black Lives Matter movement, which arose a decade ago to protest police violence against Black people. The Trademark Office gave the Black Lives Matter group until May 6 to answer.

☆ How age-old retailers like Foot Locker are boosting sales for new brands like Hoka and On
▼ + stars: | 2023-03-27 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

Foot Locker and other sneaker retailers have learned their lesson about depending too much on Nike. Foot Locker has allocated more wall space to emerging performance running brands like On and Hoka. Foot Locker and other sneaker retailers have learned their lesson from Nike's shifting strategy. Although Nike still sells at some retailers like Foot Locker, Nike is committed to putting its own direct-to-consumer sales first. "Acquiring a 21-year-old in New Jersey is more expensive for us to do than Foot Locker because Foot Locker has kept that relationship with that consumer," On co-CEO Marc Maurer told Insider in an interview.

☆ NHL fans are not happy about the league's new choice for its jerseys. Photos of Fanatics gear show why
▼ + stars: | 2023-03-25 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +2 min

The NHL announced Tuesday that it chose sports apparel brand Fanatics as its official on-ice uniform partner, replacing Adidas. "Coming 2024: NHL 🤝 Fanatics," the league wrote on Twitter this week. "The NHL going from Adidas jerseys to Fanatics jerseys," one user quipped above a photo of a poorly drawn horse. One user slammed the NHL and Fanatics as a natural partnership because they're both "fan unfriendly, low quality, and cheap." I had a Fanatics NHL jersey in my car and someone broke into my car and left two more," a Seattle Kraken fan account wrote on Twitter.

☆ Beyoncé's time with Adidas is reportedly over
▼ + stars: | 2023-03-23 | by ( Matthew Kish | ) www.businessinsider.com time to read: +2 min

The Hollywood Reporter on Thursday reported that Beyoncé and Adidas are ending their partnership. The Wall Street Journal recently reported on the struggles of her Ivy Park Adidas line. In 2018, Beyoncé partnered with Adidas to bring her Ivy Park line to the brand. While Beyoncé remains one of the world's most admired performers, her apparel line with Adidas hasn't lived up to expectations. The Hollywood Reporter wrote that there have been "major creative differences between Ivy Park and Adidas."

☆ Everything we know about Chinese app Temu. It sells a weird variety of things for cheap — and has some wondering if it's legit.
▼ + stars: | 2023-03-23 | by ( Grace Dean | Mary Hanbury | ) www.businessinsider.com time to read: +11 min

It's listed as the top free app in both the Google Play store and the Apple App Store, ahead of TikTok, Amazon, and Instagram. These cost savings can then be passed on to the consumer, a spokesperson for Temu told Insider. But for the average North American shopper, such low prices can actually be disconcerting, especially when they don't know much about Temu. A spokesperson for Temu told Insider that it uses its parent company's supply chain and logistics network to ship these items. Read more: I ordered my first 4 items off Chinese e-commerce app Temu and came away annoyed with the dozens of marketing emails sent after making a single purchase

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