How Adidas Solved Its Yeezy Problem

Indian Designers Go Global

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, AUGUST 2, 2023 Adidas' surprisingly successful sale of its remaining Yeezy merchandise indicates that there is still unmet demand for the sneaker. Indian designers are opening flagship stores in New York, London and Dubai, but how many will appeal to clients beyond the diaspora? English football team Crystal Palace has become the first club in the Premier League to hire a creative director to oversee fashion partnerships. Prada launched its first skin care and cosmetics products in over 20 years. Robbers made off with up to $16.5 million worth of jewellery from a Piaget store in Paris.

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RETAIL Unpacking Adidas' Surprise Yeezy Coup By Marc Bain

After severing ties with Ye, Adidas was left to deal with $1.3 billion worth of unsold merchandise, which it considered destroying but decided to sell instead, beginning with a first drop in May. That turned out to be the right decision. READ MORE

GLOBAL MARKETS The Brands Taking Indian Fashion to the World By Praachi Raniwala

Indian designers are showing in Paris and opening flagship stores in New York, London and Dubai but how many will become global luxury brands that appeal to clients beyond the diaspora? READ MORE

RETAIL Premier League Football Team Crystal Palace Hires Creative Director By Daniel-Yaw Miller The London-based team hired sports marketing veteran Kenny Annan-Jonathan to oversee its apparel line and partnerships with brands. READ MORE

Prada's Beauty Line Launches READ MORE

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NEWS BRIEFS Japanese Beauty Giant Kao Corporation to Acquire Australia's Bondi Sands Armed Robbers Steal Millions Worth of Jewelry From Piaget Store in Paris Estée Lauder Bulls Flee, Citing China Recovery Concerns E.l.f. Raises Sales Outlook

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How E-Commerce and SMEs Are Transforming Africa's Fashion Industries "Africa has one of the oldest and most varied cultural heritages and its expanding middle class has the potential to become a major driver of growth for creative and cultural industries in the digital age," says Samuel Mensah, founder and CEO of Ananse, and one of the authors of 'Unleashing the Commercial Potential of African Creatives Through Digital Technology', created in partnership with Mastercard, Botho Emerging Markets Group and the African Development Bank's Fashionomics. The report makes three core recommendations to accelerate the African fashion industry's evolution: firstly, to provide adequate funding to creative entrepreneurs; second, to create opportunities for skill development; and third, to focus on e-commerce to ease trade between countries. To implement industry-wide reforms, policy and decision-makers "must have an ear to the ground and understand the commercial characteristics of creative businesses in Africa." added Mensah. READ MORE

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