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DOJ charges MIT brothers with $25 million crypto theft that took 12 seconds
Bella Hadid’s fragrance line did under $350,000 in sales within the first several hours of launching, which would be a great number if this wasn’t Bella Hadid’s fragrance line. Everyone from Annie Kriegbaum to
has taken issue with Orebella’s disappointing (and quite frankly baffling) brand execution, the general consensus being that there are so many ways she could have made this less of a cringe fest. I wish someone had told her that no one needs “better for your mood” fragrance. I wish someone had suggested that she just might have surpassed the generally accepted levels of brand BS. Too many words that mean nothing; a simple “smell like Bella Hadid” would have sufficed.Topicals is coming to Nigeria, and I don't know if you guys realize how big a deal that is! The thing about Topicals is that they get authenticity RIGHT! They do not dabble in the culture, they do not use the culture, they are the culture. I think it’s pretty significant that the third country Topicals is launching in is where the founder, Olamide Olowe, is from. But what’s more significant is the fact that they’re only able to do this because they have been engaging with that market for a while now. Casual visits, brand trips; they’ve gone beyond connecting with Africans in the Diaspora, to making their presence felt there. It’s easy to view Sub-Saharan Africa as a market that can’t be cracked, but my question to brands will always be, what have you invested?
Glossier is also giving money to black founders, which is great too. If a brand has been bad before, but they repent and support the people with $$, I’m inclined to forgive them. A while ago, Business of Fashion did a three-part series on how Black founders can launch and scale their beauty brands, which was timely given that funding for black-owned startups has been falling dramatically since hitting a peak in 2021. In 2023, angel and seed rounds dropped 51%, and late-stage rounds dropped 73% compared to 2022. So good for Glossier! Love when a brand puts their money where their mouth is. Plus it’s their fourth year round, and we applaud staying power.
The Chernin Group is investing over $35 million in a soccer apparel company, Classic Football Shirts. And it isn't some buzzy Adidas or Nike competitor, but a UK-based brand that sells vintage and current soccer apparel and match-worn shirts. They have over a million Instagram followers, a few stores around the UK, and are opening a pop-up shop in New York City on May 16. Shocked I'd never heard of them before. My first thought on reading this was, “wait, bloke-core?” But the company has been around for over 18 years and profitable for every one of those, so no. The most credit I’d give the trend is making the US a more viable market for expansion. Still, one has to have faith that TGC isn't writing big fat checks based on TikTok talk.
Patrick Mahomes launched a new coffee brand, and I have some things to say. Created in partnership with beverage industry vet Michael Fedele, Throne Sport Coffee is not your regular coffee. This coffee has vitamins, electrolytes, amino acids, and natural caffeine. While promoting the brand in an interview, Mahomes said, “I’m always looking at getting my body to be in the best shape possible,” and my first thought was, lol, aren't we all?
We’re living in an era of obsessive self-optimization, where everyone wants to be smarter, hotter, healthier, because they think it’ll make them richer, funner, happier. I’d say that equation is likely close enough, but the way most of us are going about attaining that is by buying more STUFF. By now, we’re all hopped up on supplements and obsessively tracking our insides with Apple Watches or glucose trackers. And brands are responding by positioning their products as ‘better for us.’ These days, stuff is never just stuff; it’s “better for you” stuff. There’s always some healthy additive or obscure ingredient to help us justify a purchase or even a higher price point. Bella Hadid’s new fragrance line (still mad) is better for your aura (and by extension, your mind). Youthforia’s makeup line (RIP) is better for your skin. Throne Sport Coffee is better for your body. And you know what? Maybe it is! But I want my readers to be aware of these things. Brands can't always outright lie to you, but that doesn't mean what they say is true either. Always ask, why is this better for me, again?
Meanwhile, you favorite childhood fruit juice brand wants to be your favorite grown-up canned cocktail brand. At least, that’s what we have to assume to explain why Welch’s is coming for White Claw’s business. Their cocktail flavors will include Vodka Transfusion, Vodka Cranberry, Watermelon Mule, and Passion Fruit Mojito. You say we’re in an NA bubble; I say the RTD one is even bigger. Let’s see which bursts first.
Gigi Hadid never gives me a reason to speak her name in this newsletter, which is good for her, bad for me, and quite mid of her brand. But look at how cool and aspirational she looks for Guest In Residence, her cashmere brand I really wish I heard more about. I quite love that Gigi deals in cashmere now—it’s very highbrow of her; very mother. If only she had Loro Piana money, I’d suggest she create a limited edition collection with the Gstaad guy. ‘For the wifeys’. But who can compete with those deep LVMH coffers?
If you get all your information from TikTok (you shouldn't), it probably looks like young women are ditching birth control pills en masse. However, an analysis by Trilliant Health found that usage has been steadily trending upward in the United States; 10% of women had prescriptions in 2023, up from 7.1% in 2018. The issues women have with the pill are real and valid, but several experts also pointed to increasingly restrictive abortion laws as a reason for the pill’s staying power. Nine states with some of the most restrictive abortion laws had bigger-than-average growth in pill prescriptions. Another recent study on contraceptive use found that by 2022, more than half of initial prescriptions were for a greater supply of “two months, three months, six months, and sometimes even 12.” Women aren’t getting off the pill; they're stockpiling.
Highsnobiety published this piece about Gen Z mental health that told me nothing. It’s easier than ever to get mental health support, but we’re still sad sad sad. Is it TikTok? Is it the economy? Is it celibacy? Or is everyone lying that they have ADHD? The world may never know. Next!
Today’s hot take is that someone very important at The Cut doesn't want you attending therapy anymore. Why else would they have published three different “therapy sucks” pieces in one week?! I’d like answers but will settle for the acknowledgement of a conspiracy at work.
Those who cannot get Ozempic are getting high on Zyn.
reported yesterday that the men of Reddit and TikTok are promoting Zyn as an Ozempic alternative. They say, “develop a crippling Zyn addiction, lose 30lbs in a month”. I say, but at what cost?!A24 released a coffee table book on the art of movie makeup, and I want it for my house. Titled Beauty of the Beast and created with makeup artist Emily Schubert, the book uses a manual-style format to depict A24’s ability to “transform actors into fantastical, and sometimes frightening, characters.” Two thoughts: 1) Euphoria might be over, but that IP will never die, and 2) the movie to coffee table book pipeline is so real, and I’m a fan.
Victoria’s Secret is bringing back its fashion show, but I promise I didn't mean to manifest it! I know they did great harm, but they have promised to be better this time around. And if we can forgive Abercrombie & Fitch with our hearts and our wallets, who’s to say they shouldn’t be given a second chance? By now, we all know these brands don't care; so is it wrong to settle for the appearance of caring? Seriously though, if there was ever a time to make a comeback, now might be it. I still remember when SavagexFenty and Parade had the underwear industry in a chokehold, and it felt like the only way VS could go was down. But now, things feel different. Parade sold to Fruit of Loom last year, and all the innovation Savage Fenty brought now seems like table stakes. Presently, there isn't much excitement in the underwear space, and Victoria's Secret has a rare opportunity in that. That’s not to say I think they should pull it off, or that they would. But I am saying that they could, and that might be enough.
Marc Jacobs has all the hot girls on payroll, and now I think I want The Sack Bag!
This week, OpenAI co-founder and Chief Scientist, Ilya Sutskever, left the company. Soon after, Jan Leike, another OpenAI veteran, also resigned. Last year, Sutskever was one of several OpenAI board members who moved to fire Sam Altman from his role as CEO. Chaos ensued, Altman was reinstated, and Sutskever said he regretted his participation in Altman’s ouster. When asked about Sutskever at a press conference afterwards, Altman said he loved him, and that he hoped they “work together for the rest of our careers.” Oops. Sutskever and Leike were co-leads of OpenAI’s ‘Superalignment team’, created to develop ways to steer and control “superintelligent” AI systems. Now, with the launch of the GPT-4o, and both quitting in close succession, people on X are asking “what did Ilya see?” Should we be worried?
In other AI news, Instagram co-founder Mike Krieger joined Anthropic as their Chief Product Officer. My friend sent me this tweet about how much crossover there is between people who previously worked in early social and are now building in AI. What followed was a conversation about how people will almost always defer to technology to solve a problem if available, even if they say they want less tech. Yes, I’m an occasional crypto hater.
If you didn’t know, I live in Germany and work at Adidas. It’s a cause and effect situation. My team and I went to the beer fest yesterday, and I time was had. Lots of cold cuts, tiny leather shorts, and German folk songs.
So interesting about VS. I would guess that their quality, something they can exemplify through their fashion show, will also be a way to win back customers. While Parade is fine, Savage is atrocious and VS has consistency on their side.
i love Glossier doing this, also yay Topicals! The founders are so amazing, I love that brand.