Edward Buchanan Opens New Creative Hub in Milan
A new space called The Situation will host exhibitions and residencies and provide resources to Black, queer and other under-represented creatives.
social-media
Retail
Retailers Pledged Action on Diversity. Delivery Is Proving More Elusive.
Public pressure, especially from the 15 Percent Pledge, pushed many US-focused businesses to disclose information and promise progress, but the industry is still largely in a planning and promises stage.
Retail
Facebook and Instagram Launch #BuyBlack Initiative
In honour of Black History Month, Facebook, Inc., is spotlighting Black-owned brands on its platforms, a follow-up to its #BuyBlack Friday live show last year, which drew more than 15 million viewers on Facebook.com.
Retail
Activists Pushed Retailers to Back Black-Owned Brands. Here’s How Nordstrom Responded.
The American department store aims to sell $500 million worth of products from Black and Latino brands and diversify its management. Executives tell BoF how they plan to stay on track.
Technology
TikTok Owner Sees Revenues Double in 2020
ByteDance, the parent company of TikTok and its Chinese version Douyin, saw revenues last year more than double to at least $35 billion, according to figures quoted by Bloomberg and as much as $37 billion, according to media outlet The Information, which first reported on the financials of ByteDance, a privately-held company. Both outlets cited unnamed sources familiar with the matter.
Marketing
Bottega Veneta Goes Dark on Social Media
The Italian luxury brand, whose square-toe heels and padded leather clutches were among fashion’s It-products in 2020, deleted its accounts on Facebook, Instagram and Twitter on Tuesday.
Media
Post Corona: From the Brand Age to the Product Age
The primacy of brand is giving way to the primacy of product as the internet rewires media and business, argues Scott Galloway in an exclusive excerpt from his latest book, ‘Post Corona: From Crisis to Opportunity.’
Technology
Instagram Launches Shopping in Reels
The Facebook-owned entity announced Thursday that it officially launched social commerce on the platform’s short-form video feature, deepening Instagram’s investment into mobile-first shopping.
Technology
VOICES 2020: How Technology Is Shaping Culture and Consumption
Session 3 of VOICES 2020 addressed how the pandemic spiked e-commerce activity and time spent online by consumers, escalating the importance of authentic, engaging online platforms and raising more questions about the value of physical products and spaces.
Marketing
Snapchat Launches TikTok, Instagram Reels Competitor
The new Snapchat feature, called Spotlight, allows users to create short-form video content similar to the format that TikTok popularised over the last year.
News & Analysis
Will Success Spoil Diet Prada?
The digital watchdog has helped to hold the fashion industry accountable on copying and cultural insensitivity, but its increasingly cosy relationships with major brands could undermine its credibility.
Marketing
Why Social Media Advertising Is Still Necessary
Brands that benefited from a drop in customer acquisition costs at the beginning of the pandemic must figure out how to get the most out of their investments as prices rise dramatically.
News & Analysis
Op-Ed | The Business of Blackfishing
For some white influencers and entertainers, appearing as Black or racially ambiguous has become a brand-building exercise. At what cost?
The News in Brief
L’Oréal Joins Forces With Nykaa to Invest in Indian Beauty Brands
BOLD, the French conglomerate’s venture capital fund, will collaborate with retailer Nykaa to invest in the next generation of Indian beauty brands.
Private Equity Firm Inflexion Invests in Manucurist
The European investor, which previously backed Medik8, has taken a 49 percent stake in the premium French nail line.
H&M Profit Rises on Tariff Refunds as Sales Remain Sluggish
US tariff refunds drove an increase operating profit, even as the fast-fashion retailer has struggled to deliver consistent sales growth.
Arnault Clan to Change LVMH Holding Structure to Ensure Control
Under the plan, the world’s biggest luxury group will be controlled by one entity, Agache SCA, after Christian Dior SE, one of the current holding companies of LVMH, is delisted.
JD Sports Says Nike Turnaround Is Only a Matter of Time
Dominic Platt, chief financial officer of the British sportswear retailer, told Reuters, ‘Much as there's a lot of talk about Nike, it's still the most popular brand out there and it's still a very strong brand.’
Chanel Plans to Keep Investing in China Despite Demand Downturn
CEO Leena Nair pointed to the brand’s recent renovation of its Plaza 66 boutique in Shanghai, calling China ‘a market where the clients understand sophistication, refinement.’
Meta Expected to Unveil Smart Glasses Without Camera
Smart glasses have become a target of criticism in recent months amid growing concerns they can be used to record people without their consent.