Adidas dumps Reebok 🎾
This Week in Review ☕️: Beyoncé x Tiffanys | Diamonds are a Girls Best Friend | Most Expensive TV Show ever made | The Return of the Lamborghini Countach | The Power of Celebrity Partnerships in 2021
Quick Bites:
Sports 🎾 : A new day, a new acquisition in the fast-paced world of sports retail. Adidas is selling Reebok to Authentic Brands Group for $2.5bn in a mostly cash deal.
Umm.. are we the only ones who just discovered Adidas owns Reebok?
PS. What was the logic in buying Reebok in the first place..? All-white dad sneakers and a time machine dialed back to the 70s?
Background💡: Adidas paid $3.8bn for Reebok in 2006- which means an approx $1.3bn hit given they're selling at $2.5bn.
The German athletics giant bought Boston-based Reebok in an attempt to level the playing field with Nike.
Reebok at the time had apparel deals with the NFL and NBA.
However, the brand has struggled to stay afloat.
Authentic Brands- the US conglomerate that has the rights to Eddie Bauer, Forever21, Nine West and Brooks Brothers, is known for buying struggling companies with plans to turn them around.
With Reebok under its umbrella now, the company is about to get a lot sportier.
Our Thoughts💡: Grateful we've been using our Reebok discount cuz once Adidas sells, we can kiss our $1.99 Classic fold-over crew socks goodbye!
Fashion 💎 : Beyoncé and JayZ named Tiffany & Co's latest ambassadors. The star couple will appear in the brand's next ad campaign.
Queen B the next face of Tiffany?! Let us revisit our wishlist! 🎁
The tie up was announced in the September issue of Harper's Bazaar, which featured Beyoncé on the cover.
💡Beyoncé is dropping new album
💡Beyoncé and JayZ new faces of the most iconic jeweler
💡Beyoncé 'Ivy Park' clothing line is coming to kids
💡Beyoncé is working on new businesses outside of music
💡Beyoncé is building a hemp and honey farm
Wake👏the👏f***👏up👏 ladies👏
Since it acquired the company, LVMH has been trying to revamp Tiffanys 184-year old, stodgy brand image to appeal to young shoppers.
It adopted the slogan “Not Your Mother’s Tiffany” which was plastered all over NYC and LA.
Our Thoughts💡: Tbh, Tiffany hasn't really ventured beyond its classic 'Pantone Blue' branding for years now. Needs to be spruced up beyond its name value, especially at a time when trendy fashion has become key for consumers.
Say what you want but Bernard Arnault knows a thing or two about revamping a Fashion House!💯
Bringing in the ultimate power couple to be the newest ambassadors of Tiffany & Co.?!
Damn, that LVMH French money just hits different! 🙌🏻
Entertainment 📺 :"One ring to rule them all, and in the darkness bind them."
Amazon Studios will film the 2nd season of its “Lord of the Rings” series in the UK, shifting production from New Zealand, where the movies were shot.
And, to be fair, because Jacintha the Great, won't give them permission to go in and out of the country during filming 🎥
Background💡: Amazon bought the television rights for The Lord of the Rings for $250mn in 2017.
Made a 5-season commitment worth a $1billion, making it the most expensive TV show ever made.
The 1st season will premier on Prime Video in September 2022.
According to Amazon, the series 'will take viewers back to an era in which great powers were forged, kingdoms rose to glory and fell to ruin.'
i.e A lotta fighting, special effects, sex and nudity. And more nudity.
Great. About time we all stop fearing the human body 🙏
Our Thoughts💡: Seems like the New Zealand government wants complete isolation from the world.. guess they get what they ask for!
Although.. can we expect an obvious landscape downgrade between seasons?
Great for the UK but even the Scottish highlands aren't a patch on the South Island terrain
Automobiles🏎 : Calling all oligarchs and billionaires!
Lamborghini celebrates its 50th anniversary with a "a futuristic limited edition of one of the automaker's most iconic cars."
That’s right, the original 'Countach' from the 70s is back and it'll cost a cool$2.7mn!
Hmm.. seems a bit excessive, sticking with our Subaru 🙏
Key Highlights:
💡Hybrid
💡V12 engine with super-capacitor technology
💡825 horsepower
💡112 units, only 22 to come to the US
💡$1.6mn deposit, becomes non-refundable once contract is signed
💡0-62mph in 2.8 seconds
💡+$2.6mn onwards
Our Thoughts💡: The front reminds us of a Lamborghini Diablo, the rear of an Aventador and the sides of a Sian.. still got that classic 80s Miami vice look tho
Tech x Retail 👟 : It was a rough time last week for sneaker fans as hundreds of people waited for sunrise, their morning expresso and the new, absolutely wild, Nike high-tech store concept.
Nike reveals new, immersive 'Rise' store in Seoul, South Korea.
Key Highlights:
💡24,000 square-foot space in Seoul
💡A 3-story screen that displays real-time running stats from the community
💡Interactive table where you can place different shoes and get info on them
💡A 'Huddle' section that allows shoppers to sign up for local events, including wellness discussions with experts
💡A grab-n-go section of nutrition and hydration products for pre and post-workout snacking
💡A recycling and donation center that allows shoppers to drop off worn sneakers
"Ultimately, we're looking for an integration between physical and digital, where we can blur the boundaries and consumers don't see the channels at all. They just see the brand."
-VP of Nike
Quicker Bites:
Biden addresses the crisis in Afghanistan: ‘The buck stops with me.’
Taliban in control in Afghanistan after seizing Presidential palace in Kabul.
Emma Stone has closed a deal to star in 'Cruella 2'.
New Zealand issues plans for reopening in 2022 as country continues with 'elimination' strategy.
Malaysian Prime Minister resigns.
Chile starts giving Covid-19 booster shots to elderly citizens.
Thailand braces for new Covid-19 clusters as cases spread.
Trudeau calls federal election for September 20.
A devastating earthquake kills hundreds and injures thousands more in Haiti.
Zambia's opposition leader Hichilema wins Presidential vote.
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