The Next Generation of Fashion Week Influencers

The Independents Acquires Bureau Betak, Etro's New CEO, Everlane Exits China

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WHAT YOU NEED TO KNOW TODAY: FRIDAY, SEPTEMBER 10, 2021 Creators and influencers have descended on New York for the first in-person fashion week since TikTok's explosion in popularity during the pandemic. The Independents has acquired the fashion events production company Bureau Betak at a valuation of over $70 million in a bet on the future of big physical fashion events. Chinese President Xi Jinping's emphasis on 'common prosperity' could actually create revenue opportunities for luxury brands, argues Pierre Mallevays. A severe coronavirus outbreak in Vietnam is threatening the supply chains of Nike, Adidas and others. Etro's new CEO is former Dolce & Gabbana executive Fabrizio Cardinali. Everlane is the the second US retailer to exit China in recent weeks, following Urban Outfitters' decision to close its Tmall store.

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FASHION WEEK Meet the Next Generation of Fashion Week Influencers By Alexandra Mondalek and M.C. Nanda

TikTok's explosion over the pandemic has shifted how brands and platforms approach fashion week influencer partnerships, encouraging team-ups with creators who break the fashion influencer mould. READ MORE

MARKETING & PR Independents Acquires Bureau Betak at Valuation North of $70 Million By Alexandra Mondalek

The events production company known for staging some of fashion's most impactful shows generated more than $100 million in 2019. The deal is a bet on the return of big physical fashion events, albeit with a digital dimension. READ MORE

FINANCIAL MARKETS Could China's President Be Good for Luxury? By Pierre Mallevays

Xi Jinping's speech on 'common prosperity' was not a declaration of war on wealth but an acknowledgement that wealth is concentrated in too few hands. A larger middle class could actually create revenue opportunities at entry level prices for luxury brands. READ MORE

BEAUTY TikTok and Instagram Are Turning Gen-Z on to Botox By Joan Kennedy Providers are changing their business models to cater to the younger generation's focus on prevention and Instagrammable fixes, as interest in cosmetic procedures rises. READ MORE

GLOBAL MARKETS What Vietnam's Factory Closures Mean for Fashion By Zoe Suen A severe outbreak of Covid-19′s Delta variant has prompted months-long factory closures that threaten the supply chains of companies like Nike and Adidas. READ MORE

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NEWS BRIEFS Marie Claire US to Cease Print Publication Garment Worker Protection Act Passes California Legislature Affirm Reports 71 Percent Rise in Quarterly Revenue Facebook and Ray-Ban Release Smart Glasses Chiara Ferragni Becomes Hublot's New Global Ambassador Amazon Will Spend $1.2 Billion on Employee Tuition, Courses De Beers Reports Biggest Gem Sale Since February, Diamond Rebound Rolls On China Accuses Canada Goose of 'Misleading' Consumers in Ads Etro Names Dolce & Gabbana Executive Fabrizio Cardinali CEO Everlane Exits China Market

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