Google unveils new ‘Pixel’ and ‘Nest’ products

Google unveils new ‘Pixel’ and ‘Nest’ products1 Hour AgoCNBC’s Jon Fortt reports from Google’s Made By Google event in New York City as the company unveils new phones, smart home products and more.


Google unveils new ‘Pixel’ and ‘Nest’ products1 Hour AgoCNBC’s Jon Fortt reports from Google’s Made By Google event in New York City as the company unveils new phones, smart home products and more.
Google unveils new ‘Pixel’ and ‘Nest’ products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: jefferson siegel
Keywords: news, cnbc, companies, pixel, york, smart, products1, nest, unveils, google, products, reports, phones


Google unveils new 'Pixel' and 'Nest' products

Google unveils new ‘Pixel’ and ‘Nest’ products

1 Hour Ago

CNBC’s Jon Fortt reports from Google’s Made By Google event in New York City as the company unveils new phones, smart home products and more.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: jefferson siegel
Keywords: news, cnbc, companies, pixel, york, smart, products1, nest, unveils, google, products, reports, phones


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Adidas and Nike supply tactics are an abuse of market dominance, British retail giant says

The sales and supply strategies of big sports brands such as Adidas and Nike should face government investigations, U.K. retail giant Sports Direct claimed. In a statement on Monday, the British firm accused global sports apparel brands of abusing their dominance in the market by constantly chopping and changing the availability of their products to retailers. “These ‘must have’ brands hold an extremely strong bargaining position vis-a-vis the retailers within their supply networks and use their


The sales and supply strategies of big sports brands such as Adidas and Nike should face government investigations, U.K. retail giant Sports Direct claimed. In a statement on Monday, the British firm accused global sports apparel brands of abusing their dominance in the market by constantly chopping and changing the availability of their products to retailers. “These ‘must have’ brands hold an extremely strong bargaining position vis-a-vis the retailers within their supply networks and use their
Adidas and Nike supply tactics are an abuse of market dominance, British retail giant says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: chloe taylor
Keywords: news, cnbc, companies, wide, abuse, dominance, statement, tactics, supply, adidas, brands, direct, retailers, british, products, market, retail, regularly, nike, giant


Adidas and Nike supply tactics are an abuse of market dominance, British retail giant says

The sales and supply strategies of big sports brands such as Adidas and Nike should face government investigations, U.K. retail giant Sports Direct claimed.

In a statement on Monday, the British firm accused global sports apparel brands of abusing their dominance in the market by constantly chopping and changing the availability of their products to retailers.

“These ‘must have’ brands hold an extremely strong bargaining position vis-a-vis the retailers within their supply networks and use their market power to implement market wide practices aimed at controlling the supply and, ultimately, the pricing of their products,” the company claimed.

Sports Direct said Adidas and other big brands regularly employed an array of unfair trade practices, such as “segmentation policies” that restricted the range of products available to retailers, the withdrawal of the supply of products, and in most cases, “an outright refusal to supply.”

The retailer added that brands had regularly withdrawn its supply of key products, such as soccer merchandise, or refused to supply key products with no justification.

“Sports Direct believes that the industry as a whole would benefit from a wide market review by the appropriate authorities in both the U.K. and Europe,” the statement said.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: chloe taylor
Keywords: news, cnbc, companies, wide, abuse, dominance, statement, tactics, supply, adidas, brands, direct, retailers, british, products, market, retail, regularly, nike, giant


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Google just announced a bunch of new connected home products

Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019. Google kicked off its annual hardware event on Tuesday where it revealed a new pair of Pixel Buds, a revamped Pixelbook and several new Nest devices, alongside other announcements. Google’s new Pixelbook, called the Pixelbook Go, starts at $649 and is a lightweight version of the original laptop. Nest Aware starts at $6 per month and Nest Aware Plus, which


Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019. Google kicked off its annual hardware event on Tuesday where it revealed a new pair of Pixel Buds, a revamped Pixelbook and several new Nest devices, alongside other announcements. Google’s new Pixelbook, called the Pixelbook Go, starts at $649 and is a lightweight version of the original laptop. Nest Aware starts at $6 per month and Nest Aware Plus, which
Google just announced a bunch of new connected home products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: annie palmer
Keywords: news, cnbc, companies, aware, connected, hardware, video, products, starts, pixelbook, announced, pixel, bunch, google, version, event, nest


Google just announced a bunch of new connected home products

Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019.

Google kicked off its annual hardware event on Tuesday where it revealed a new pair of Pixel Buds, a revamped Pixelbook and several new Nest devices, alongside other announcements.

The Pixel Buds start at $179 and are slated to launch in Spring 2020. The headphones include a truly wireless design, as well as “adaptive sound” technology, which automatically adjusts the volume depending on the environment you’re in.

Google’s new Pixelbook, called the Pixelbook Go, starts at $649 and is a lightweight version of the original laptop. It features a 13.3-inch display and 12 hours of battery life, as well as a new magnesium casing and a “rippled wave bottom” that makes it easier to hold.

The company rolled out a slew of new updates to its Nest smart home unit, including Nest Aware, a subscription program that allows users to receive support across all their Nest devices for a flat monthly rate. Nest Aware starts at $6 per month and Nest Aware Plus, which has expanded coverage, costs $12 per month. Both programs will be available starting in early 2020.

Google unveiled the new Nest Mini, which starts at $49 and includes improved speakers, as well as new Nest WiFi routers that are faster and feature 25% better coverage compared to their predecessor. The routers come in a 2-pack for $269 or a 3-pack for $349 and go on sale Nov. 4.

Google also announced its new video game streaming service, Stadia, will launch on Nov. 19. Google first debuted Stadia in March as a cloud-based alternative to gaming consoles from rivals like Microsoft and Sony.

At the event, the company is expected to unveil the latest version of its flagship smartphone, the Pixel 4.

Google confirmed the Pixel 4 was on the way when it shared photos of the device in June, then posted a video showing off its gesture controls in July. Google is likely to reveal two versions, the Pixel 4 and a larger Pixel 4 XL. They’ll get an improved camera, as well as a “Soli” radar chip that allows users to unlock the phone with their face, similar to how Apple’s Face ID works on the iPhone.

Google’s event follows a flurry of hardware announcements from competitors like Microsoft, Apple and Amazon. Compared to its rivals, hardware represents a small segment of Google’s overall business and the Pixel continues to lag behind models from Samsung, Apple and others.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: annie palmer
Keywords: news, cnbc, companies, aware, connected, hardware, video, products, starts, pixelbook, announced, pixel, bunch, google, version, event, nest


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Top 10 best-selling ‘Shark Tank’ products

USA Today used sales figures provided by Sony Pictures, which produces the show, to rank the top 20 best-selling “Shark Tank” products ever, which had a total of $1.8 billion in retail sales. Here are the 10 top-selling products from “Shark Tank”, according to USA Today:1. BombasBombas on Shark Tank. According to John, Bombas is one of his top three most successful “Shark Tank” investments. Robert Herjavec told CNBC Make It in April 2019 that Tipsy Elves was his most successful “Shark Tank” inve


USA Today used sales figures provided by Sony Pictures, which produces the show, to rank the top 20 best-selling “Shark Tank” products ever, which had a total of $1.8 billion in retail sales. Here are the 10 top-selling products from “Shark Tank”, according to USA Today:1. BombasBombas on Shark Tank. According to John, Bombas is one of his top three most successful “Shark Tank” investments. Robert Herjavec told CNBC Make It in April 2019 that Tipsy Elves was his most successful “Shark Tank” inve
Top 10 best-selling ‘Shark Tank’ products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: taylor locke
Keywords: news, cnbc, companies, bestselling, million, told, season, shark, products, episode, greiner, tank, sales, stake, company


Top 10 best-selling 'Shark Tank' products

Dozens and dozens of founders have pitched their businesses and wares to the investors on ABC’s “Shark Tank” over the last 11 seasons — some have been clever and others memorable. And then there are the ones that are bringing in a ton of money. USA Today used sales figures provided by Sony Pictures, which produces the show, to rank the top 20 best-selling “Shark Tank” products ever, which had a total of $1.8 billion in retail sales. One Shark in particular has stake in 10 of the top 20 companies: Lori Greiner. With companies like Scrub Daddy, a kitchen-sponge line with $209 million in sales, and Squatty Potty, a footrest for the toilet with $164 million in sales, Greiner has many interesting and profitable “Shark Tank” companies in her portfolio. Here are the 10 top-selling products from “Shark Tank”, according to USA Today:

1. Bombas

Bombas on Shark Tank. Source: Bombas | Facebook

In a season 6 episode that aired September of 2014, the co-founders of sock company Bombas got a $200,000 offer from Daymond John for a 17% stake in the business. (In many cases, deals change after the episode tapes and due diligence is done.) Now, the company has $225 million in lifetime sales. In 2011, a Facebook post that said socks were the most requested clothing item at homeless shelters inspired Bombas co-founders David Heath and Randy Goldberg to create the most comfortable sock possible — and to donate a pair for every pair sold. “How sad is it that — something I’ve never spent more than a couple of seconds thinking about [how to pay for] could be seen as a true luxury for somebody else,” Heath, co-founder and CEO of Bombas, told CNBC Make It in April. According to John, Bombas is one of his top three most successful “Shark Tank” investments. “It’s been a dream working with them, honestly. They’re laser-focused,” John told CNBC Make It in April. “I don’t even know if they ever call me for anything more than a little bit of words of advice, and they go out and they execute, so it’s not been a lot of heavy lifting on my part. They’ve also taught me about the value of when a consumer feels that you have a social cause that is really amazing and they believe in you, how they will support you.”

2. Scrub Daddy

Craig Sjodin/ Disney ABC Television Group/ Getty Images

Since its launch, sponge company Scrub Daddy has done $209 million in sales. But back in 2012, Scrub Daddy founder Aaron Krause was well prepared for his season 4 “Shark Tank” pitch, he told CNBC Make It. “What I learned is if you’re unprepared, you’re the bait,” Krause told Make It at CNBC’s iConic conference in 2017. “And the Sharks will eat you alive.” On Krause’s episode, which aired that October, Greiner offered Scrub Daddy $200,000 for a 25% stake in the company. Grenier said in 2014 Scrub Daddy was one of the “best investments” she’s ever made on the show.

3. Squatty Potty

Bobby Edwards demonstrates how the Squatty Potty works. Jeniece Pettitt | CNBC

Squatty Potty, a bathroom footstool that helps create “healthy toilet posture” to prevent and help with constipation, has generated $164 million in sales since 2011. “Everyone is like, ‘Why didn’t I think of that?'” Bobby Edwards, the creator and CEO of Squatty Potty, told CNBC Make It in 2018. “I have proven a lot of people wrong, and it’s felt really good.” Edwards came up with the idea of Squatty Potty in an effort to help his mother’s constipation troubles. “There was nothing out there on the market that we could find to help us solve the problem,” he told Make It. “So we made it.” When he took his invention to “Shark Tank” on season 6, Greiner offered Squatty Potty $350,000 for a 10% stake in the business. The episode aired in November of 2014.

4. Simply Fit Board

Simply Fit Board, a balance-board workout tool, is another successful investment by Greiner, with $160 million in lifetime sales. In a season 7 episode that aired in November 2015, Greiner offered its mother-daughter co-founders, Gloria Hoffman and Linda Clark, $125,000 for a 20% stake in Simply Fit Board. Just 24 hours after the episode aired, Simply Fit raked up $1.25 million in sales, according to Hoffman. “When you’re a mom that wants to show your kids that anything is possible — and overnight, my whole life changed,” Hoffman said during a December 2016 “Shark Tank” update. In 2016, Greiner revealed that Simply Fit Board partnered with Walmart, putting the product in each store across the country. “To see the effect on Gloria, to see how much it has changed her life, that’s why I do what I do,” Greiner said in the update episode. “That’s why I’m a Shark.”

5. The Original Comfy

The Original Comfy, a company that sells a line of blanket-sweatshirt hybrids, has done $150 million in sales since its launch. The founders’ “Shark Tank” pitch, which aired in December 2017 on season 9, was Barbara Corcoran’s “favorite pitch,” according to USA Today. “All they had was a sweatshirt-blanket contraption with a hood; I thought they were crazy,” Corcoran said. Ultimately, Corcoran believed the product could go viral and offered $50,000 for a 30% stake in the company.

6. Tipsy Elves

Tipsy Elves co-founders Evan Mendelsohn and Nick Morton met in college and are still great friends. Jeniece Pettitt | CNBC

Tipsy Elves, a company that sells ugly Christmas sweaters, has done $125 million in sales since 2011. Robert Herjavec told CNBC Make It in April 2019 that Tipsy Elves was his most successful “Shark Tank” investment. “I didn’t bet on the product, I bet on the guys,” Herjavec told Make It. “They left these secure, cushy jobs to sell inappropriate, ugly Christmas sweaters online. Anyone nuts enough to do that must really believe in the idea.” Herjavec offered the founders $100,000 for a 10% stake in the company on the season 5 episode that aired in December 2013.

7. The Bouqs

The Florist Collection from the Bouqs Company. Source: The Bouqs Company

The Bouqs, an online flower bouquet seller, did not receive any offers during the founders’ season 5 pitch, which aired in May 2014 — but Herjavec later invested in the company. Three years after the show, “Robert Herjavec reached out to me to ask if we could do the flowers for his upcoming wedding,” The Bouqs co-founder John Tabis told CNBC in March. “[Tabis] said, ‘Come and see me. I’ll explain the flower business to you.’ [He] draws it out for me, shows me what they’re doing. I’m like, ‘I love it,'” Herjavec said in a blog post for The Bouqs in February 2017. “So I took part of their last round. We just raised $24 million.” Bouqs has done $100 million in sales since its launch.

8. Sleep Styler

Sleep Styler, a company that sells heat-free hair rollers, appeared on season 8 of “Shark Tank” and caught Greiner’s attention. “I knew I would really be able to help [founder] Tara [Brown] get this product out on the market in a fast and all-encompassing way where the Sleep Styler would become a household name within a year,” Greiner told Success magazine in August 2017. “Within five minutes of watching Tara pitch, I had already visualized a great plan in mind.” Grenier offered Brown $75,000 in exchange for a 25% stake in the company on the episode, in an episode that aired in March 2017. Sleep Styler has done $100 million in lifetime sales.

9. Lovepop

Courtesy of Lovepop

When Wombi Rose and John Wise, the co-founders of Lovepop, a pop-up greeting card supplier, appeared on season 7 of “Shark Tank” in December 2015, Kevin O’Leary offered them $300,000 in exchange for a 15% stake in the business. Lovepop has now brought in $80 million since its launch. Prior to creating Lovepop, Rose and Wise were naval architecture students with a love for ship design. “It’s so cool, and it’s also exactly the same way you design a ship,” Rose told CNBC. “You take a 3-D shape; you splice it into planes. The way that those planes intersect, you draw lines and then you cut out the pieces and assemble them by hand. And this is that same concept but miniature.”

10. Cousins Maine Lobster


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: taylor locke
Keywords: news, cnbc, companies, bestselling, million, told, season, shark, products, episode, greiner, tank, sales, stake, company


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US economy being hit harder by the trade war than China, says influential Asian financier

The U.S. economy is being hit harder than the Chinese economy by the long-running trade war between Washington and Beijing, influential Chinese financier Weijian Shan told CNBC on Monday. “That doesn’t mean that the Chinese economy is not severely damaged. Shan’s argument that the U.S. has seen greater impacts from the trade war were the subject of an op-ed in “Foreign Affairs” with the headline: “The Unwinnable Trade War.” Shan acknowledged on CNBC the trade war has “accelerated” the process, a


The U.S. economy is being hit harder than the Chinese economy by the long-running trade war between Washington and Beijing, influential Chinese financier Weijian Shan told CNBC on Monday. “That doesn’t mean that the Chinese economy is not severely damaged. Shan’s argument that the U.S. has seen greater impacts from the trade war were the subject of an op-ed in “Foreign Affairs” with the headline: “The Unwinnable Trade War.” Shan acknowledged on CNBC the trade war has “accelerated” the process, a
US economy being hit harder by the trade war than China, says influential Asian financier Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, trade, shan, financier, war, chinese, harder, hit, products, influential, phase, economy, asian, china, tariffs


US economy being hit harder by the trade war than China, says influential Asian financier

The U.S. economy is being hit harder than the Chinese economy by the long-running trade war between Washington and Beijing, influential Chinese financier Weijian Shan told CNBC on Monday.

“Both parties lose from the trade war, but the numbers suggest that the damage to the U.S. side is greater, in percentage terms, than to the Chinese economy,” said Shan, a U.S.-trained economist and chairman and CEO of Asian private equity giant PAG. PAG has offices in China and Hong Kong and about $30 billion of assets under management.

“That doesn’t mean that the Chinese economy is not severely damaged. … For China, the business confidence in particular has been hit very hard in the past 15 months,” Shan said on “Squawk on the Street.” He spoke just hours after reports that China wants another round of talks before signing what President Donald Trump called last week the first phase of a trade deal between the two nations.

Trump said on Friday that China agreed to buy more U.S. agricultural products and made a commitment to address intellectual property concerns. The U.S. agreed to hold off on a tariff rate hike that was supposed to go into effect Tuesday.

Earlier Monday, Treasury Secretary Steven Mnuchin on CNBC would not comment directly on the status of the deal, but said it’s a “fundamental agreement in principle” that’s “subject to documentation.” Mnuchin said he expects “phase one will close.” But if it doesn’t, he said a new round of tariffs on Chinese goods, set for mid-December, would take effect.

“They’ve reached an understanding, but the devil is in the details, so they have to work out the details and agree on paper,” Shan said, noting how positive signs in June quickly devolved into additional tariff hikes. Both sides are hoping Trump and Chinese President Xi Jinping are able to meet and sign the phase one of the trade deal at the Asia-Pacific Economic Cooperation summit next month in Chile.

Shan’s argument that the U.S. has seen greater impacts from the trade war were the subject of an op-ed in “Foreign Affairs” with the headline: “The Unwinnable Trade War.” Throughout the escalating trade dispute, both China and the U.S. have been saying that the other’s economy is bearing the brunt of the tariffs.

However, Shan wrote, “The tariffs did not compel Chinese exporters to reduce their prices; instead, the full cost of the tariffs hit American consumers.”

He also pointed to China’s decision to only place tariffs on U.S. goods that can be replaced with imports from other countries at similar prices.”

“It actually lowered duties for those U.S. products that can’t be bought elsewhere more cheaply, such as semiconductors and pharmaceuticals,” he wrote. “Consequently, China’s import prices for the same products have dropped overall, in spite of higher tariffs on U.S. imports.”

Shan acknowledged on CNBC the trade war has “accelerated” the process, already underway, of companies moving supply chains out of China into Southeast Asian countries. “It’s having some impact on the Chinese economy, but it is not going to be very substantial.”


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, trade, shan, financier, war, chinese, harder, hit, products, influential, phase, economy, asian, china, tariffs


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Top UK doctor calls for phasing out of junk food commercials

A prominent medical expert in the U.K. has called for a ban on junk food ads as part of a range of proposals aimed at cutting childhood obesity rates. In her last report as England’s chief medical officer, Sally Davies claimed ads for unhealthy food were “everywhere (children) look.” The crisis was being fueled by a range of factors, Davies claimed, such as increasing portion sizes, expensive healthier foods, and ubiquitous junk food commercials. Back in June, the U.K. government concluded a pub


A prominent medical expert in the U.K. has called for a ban on junk food ads as part of a range of proposals aimed at cutting childhood obesity rates. In her last report as England’s chief medical officer, Sally Davies claimed ads for unhealthy food were “everywhere (children) look.” The crisis was being fueled by a range of factors, Davies claimed, such as increasing portion sizes, expensive healthier foods, and ubiquitous junk food commercials. Back in June, the U.K. government concluded a pub
Top UK doctor calls for phasing out of junk food commercials Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: chloe taylor
Keywords: news, cnbc, companies, unhealthy, products, calls, doctor, advertising, public, commercials, food, drinks, phasing, children, junk, davies


Top UK doctor calls for phasing out of junk food commercials

A prominent medical expert in the U.K. has called for a ban on junk food ads as part of a range of proposals aimed at cutting childhood obesity rates.

In her last report as England’s chief medical officer, Sally Davies claimed ads for unhealthy food were “everywhere (children) look.”

“Children are constantly exposed to advertising for unhealthy food and drink,” Davies said in the report. “Companies often use children’s cartoon characters and sponsorship of major sporting events to market these items, casting them as the shining star in children’s minds.”

According to the research, one in six children between the ages of 10 and 11 are obese in England, while a further four are classed as overweight — a figure that’s doubled over the past three decades.

The crisis was being fueled by a range of factors, Davies claimed, such as increasing portion sizes, expensive healthier foods, and ubiquitous junk food commercials.

In a sweeping set of recommendations, she urged politicians to implement measures that would “allow children to grow up free from marketing, signals and incentives to consume unhealthy food and drinks.”

She called for the phasing out all marketing and sponsorship of less healthy food and drink products, which would apply across all media, including online, and at publicly-funded events and venues. “Less healthy products” would be defined using the U.K. government’s nutrient profiling model, which gives foods a score based on nutrients such as sugar, fiber and saturated fat.

Back in June, the U.K. government concluded a public consultation on introducing a ban on junk food TV ads before 9 p.m. in the country. Lawmakers are still analyzing the findings.

In another blow to the food and drinks industry, Davies called for a ban on the consumption of food and drinks on public transport. The only exceptions would be to drink water, breastfeed or for those with medical conditions like diabetes.

In 2017, more than £300 million ($367 million) was spent on advertising soft drinks, confectionary and sweet and savoury snacks, compared to £16 million spent on advertising fruit and vegetables, according to the report.

It referenced data from Nielsen AdDynamix, which showed confectionary products made up 18% of total annual advertising expenditure in the U.K., sweet and savoury snacks made up 17% of total expenditure, and soft drinks contributed 11%. Commercials for fruits and vegetables made up 2.5% of the overall spend.

“Research shows that children respond to unhealthy food advertising on television by eating more,” Davies said. “They then fail to compensate at subsequent meals so this will, over time, lead to weight gain. Limiting this on-screen advertising, as proposed by the government, can make valuable contributions to improving children’s health.”

Commercials for junk food were banned across London’s public transport network in February.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: chloe taylor
Keywords: news, cnbc, companies, unhealthy, products, calls, doctor, advertising, public, commercials, food, drinks, phasing, children, junk, davies


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How Supreme went from a small NYC skateboard shop to a $1 billion global phenomenon

Supreme is the rare brand that can inspire the same level of extreme devotion from private equity billionaires and streetwear aficionados. Billing himself as the “world’s #1 Supreme collector” on an Instagram account where he boasts nearly 140,000 followers, Migraine now owns a massive collection of Supreme products. Supreme collector Joe Migraine displays some of the items he’s bought from the brand over several years. Supreme Italia was forced to withdraw from the Italian market, however it is


Supreme is the rare brand that can inspire the same level of extreme devotion from private equity billionaires and streetwear aficionados. Billing himself as the “world’s #1 Supreme collector” on an Instagram account where he boasts nearly 140,000 followers, Migraine now owns a massive collection of Supreme products. Supreme collector Joe Migraine displays some of the items he’s bought from the brand over several years. Supreme Italia was forced to withdraw from the Italian market, however it is
How Supreme went from a small NYC skateboard shop to a $1 billion global phenomenon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: tom huddleston jr
Keywords: news, cnbc, companies, brands, nyc, global, billion, skateboard, went, brand, migraine, supremes, items, shop, phenomenon, company, line, small, fashion, products, supreme


How Supreme went from a small NYC skateboard shop to a $1 billion global phenomenon

Supreme is the rare brand that can inspire the same level of extreme devotion from private equity billionaires and streetwear aficionados. The 25-year-old skateboarding and apparel brand is famously shy about publicity and it only has 11 stores (soon to be 12) around the world. But that doesn’t stop throngs of fans and “hypebeasts” (the term for the streetwear-obsessed) from lining up for hours at a time for the mere hint of an opportunity to buy the latest items to have a red and white “Supreme” box logo slapped on them. That’s because the brand has managed to amass a growing following even as it’s come to symbolize the ultimate in underground cool. It’s exactly that sort of rabid loyalty that spurred a reported $500 million investment (for a roughly 50% stake), valuing the company at $1 billion, from The Carlyle Group in 2017. (Supreme is a private company and does not report revenue, but the company was projected to hit $100 million in annual revenue in 2017, the year of the Carlyle investment, Women’s Wear Daily reported at the time. Supreme declined interview requests for this article.) But Carlyle’s investment still had some wondering exactly how a marketing-shy skateboard shop with a cult following fits in the portfolio of a private equity giant that’s previously invested in the likes of car rental giant Hertz, consulting firm Booz Allen Hamilton and Dunkin’ Donuts fast-food chain operator Dunkin’ Brands.

Starting small

Supreme launched in 1994, when designer James Jebbia opened an unassuming skateboard shop-slash-clothing store on Lafayette Street in SoHo, the heart of New York City’s hip fashion scene. Jebbia, who had previously worked with skateboarder and designer Shawn Stussy, has said he was drawn to the edgy and effortlessly cool style of the young skaters he knew in the city. The Supreme brand even sponsors a team of professional skaters that originally included skateboarders and actors Justin Pierce and Harold Hunter, who both starred in the 1995 cult classic film “Kids” — a controversial movie that both drew on skating culture and fashion of the mid-90s, while itself influencing both. When the first Supreme store opened, the first employees were extras from the movie “Kids,” according to Vogue. Over the past 25 years, the brand has expanded at a snail’s pace, reluctant to relinquish Supreme’s standing as a symbol of the underground, in-the-know streetwear fashion scene. It was a decade before Supreme opened a second location, in Los Angeles, and today the brand has two stores in New York City, six in Japan and outposts in Paris and London, while a location in San Francisco is planned for later in 2019). Along the way, Supreme’s fashion world street cred has been bolstered by high-profile collaborations with the likes of luxury fashion house Louis Vuitton as well as iconic global brands like Nike, Vans and Levi’s. “Over the years, they’ve worked with all kinds of different artists, all kinds of different brands, and it’s part of what makes the brand so cool,” Justin Gage, a data scientist and streetwear analyst, tells CNBC Make It. Gage adds that Supreme’s collaborations with high-end luxury brands like Louis Vuitton and Gucci “really push the boundaries” of how consumers view skateboarding culture. And whether Supreme is releasing a new line of its own apparel and accessories, or if Jebbia’s company is dropping new items from its latest big-name collaboration, it’s become commonplace for Supreme fans — dubbed “Supreme-heads” — to line up for hours on end outside a store for product release events that sometimes sell out in a matter of minutes. Supreme shoppers at these events will pay anywhere from $30 to $100 for a shirt or a hat, and from $150 to over $450 for a jacket. Joe Migraine (a pseudonym, for privacy reasons) is a Supreme super-fan who also works full-time on the streetwear unit at the website StockX, an online marketplace for re-selling high-end fashion products. Migraine has been collecting clothing and other items made by Supreme since roughly 2011. He recently told CNBC Make It about the rigorous process he had to go through just to secure a spot in line at a recent Supreme product drop event in New York City. “If you want to attend an in-store release … you have to register online for that in-store release,” Migraine says. “Those registries close very, very quickly. It’s very, very difficult to register for a drop, generally because so many people are trying to go for it and they will close the page down as soon as it fills up.” If you do manage to get registered to attend an event, Migraine continues, you’ll likely get a text message confirmation and then Supreme will tell you what time to come to the store to wait in line. “You show up at that time with the credit card and photo I.D. that you used to register. And then you can possibly wait in line for up to three to four hours just to get inside,” Migraine says. In this case, Migraine traveled to New York City from his home in Detroit to wait in line for about six hours on a hot August afternoon. He ended up spending about $3,000, he tells CNBC Make It, on a variety of items that included about eight t-shirts, six bags, seven skateboard decks, a few key chains and pins and one Supreme-branded Pyrex measuring cup. Billing himself as the “world’s #1 Supreme collector” on an Instagram account where he boasts nearly 140,000 followers, Migraine now owns a massive collection of Supreme products.

Supreme collector Joe Migraine displays some of the items he’s bought from the brand over several years. Source: Joe Migraine Instagram @joemigraine

A cult following, inspiring knock-offs

Supreme fans jump through hoops for the opportunity to pay up to $100 for a Supreme t-shirt, nearly $340 for a wool varsity jacket or even almost $200 for a Supreme table tennis set. But what do Supreme-heads do if they can’t secure a spot in the line to get those items before they sell out? That’s where Supreme’s extremely active resale market heats up, with sites like StockX and other resellers listing sold-out items for resale at astronomical markups, like a t-shirt featuring Supreme’s simple red box logo that sells for an average price of more than $900 over the past year on StockX. The shirt previously retailed for just over $30 through Supreme. For Migraine, the reason he obsesses over collecting Supreme items over those released by other fashion brands has to do, in part, with his respect for Supreme’s backstory, growing its clout from a small skateboard shop to a global brand over decades. He’s also enamored with the wide variety of pop culture references touted in many Supreme products, which recently featured shirts paying homage to iconic art-house rockers The Velvet Underground, while past product lines included references to cultural icons ranging from Miles Davis to The Muppets to the artist Jean-Michel Basquiat.

“I really think a great aspect of what they’re doing is they’re educating people. You know, they have a younger audience base and they’re educating people on art, on music and on fashion,” he tells CNBC Make It. “They’re educating the youth of [today] as to what’s cool, what’s relevant and what they need to know about.” In fact, the Supreme brand is so sought after that the company also faces a problem with copyright infringement stemming, in part, from the fact that Supreme was unable to trademark its brand until 2012 due to the brand name’s similarity to too many other products and brands with “Supreme” in the title. (“Supreme wasn’t meant to be a brand … It’s a good name, but it’s a difficult one to trademark,” Jebbia told Interview magazine in 2009.) Supreme also won a lawsuit in Italian court in 2018, against a company called “Supreme Italia,” which sold what trademark lawyers called “legal fake” products that closely resemble Supreme’s products, right down to the red box logos with the word “Supreme.” Supreme Italia was forced to withdraw from the Italian market, however it is still selling knock-off Supreme items in other countries, including Spain and China, according to The Wall Street Journal. Marketing research company SEMrush found that Supreme topped its list of brands with the most online searches for fake and replica products in both 2017 and 2018.

Managing the hype

One explanation for Supreme’s popularity with young consumers — enough so to make them line up for hours at a time — has to do with the idea that the brand’s products are “emblematic of rebellious youth culture,” according to Gage. “I would call it a brand that’s heavily integrated with art and culture that tends to drive demand through consumer desire and consumer passion as opposed to explicit marketing.” In fact, Supreme barely markets itself at all. “Supreme has become successful in marketing their brand, paradoxically, by not marketing their brand,” Gage tells CNBC Make It. “They don’t invest in paid marketing at all to the same degree that most apparel or media companies do. What makes them really successful is the community that they’re part of and that they’ve built.” However, in its own way, Supreme has found a way to use the brand’s own mystique to generate hype that has helped the underground brand gain a global following. “The magic lies in their ability to take word-of-mouth marketing and turn the launches of their products into sort of micro-experiential events,” Cliff Sloan, a branding expert and founder of marketing agency Phil & Co., tells CNBC Make It about Supreme. “And that means that people have to go to places, buy tickets, get on lists, end up lining up outside stores. That ends up generating a lot of buzz, a lot of curiosity to the public.” Supreme also generates buzz with a never-ending lineup of branded curiosities — items no one would normally expect to see sold by a skateboard or streetwear brand, but when slapped with Supreme’s unmistakable red and white logo, they instantly become must-have products for the most ardent Supreme fans. The company has sold everything from Supreme-branded hammers, nunchucks, and kayaks to a Supreme brick (literally a red clay brick stamped with the Supreme logo). Many of those oddball items are still available to buy second-hand online, where a Supreme brick can sell for $130 on StockX. “At some point they realize that their demand is so strong that they can literally manufacture anything and people will still buy it because the brand is so strong,” says Gage. The brand even recently teased a Supreme-branded dirt bike through a partnership with Honda and Fox Racing.

The more random a Supreme item may seem, the more sought after it’s likely to be by the biggest Supreme fans. “Some items are easier to get than others, but the ones that are really fun are those ones where they really go out on a limb, whether it’s a kayak or a motorcycle or a full sized mountain bike,” Migraine tells CNBC Make It about Supreme’s most surprising products. “You know, those are the fun ones.”

Private equity influence?


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: tom huddleston jr
Keywords: news, cnbc, companies, brands, nyc, global, billion, skateboard, went, brand, migraine, supremes, items, shop, phenomenon, company, line, small, fashion, products, supreme


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Acting FDA chief inspects two international mail facilities for illicit vaping and opioid products

The acting head of the Food and Drug Administration inspected two international mail centers this week to examine U.S. efforts to seize foreign shipments of illicit vaping products, fentanyl and other drugs, the agency said Tuesday. “It is truly remarkable to have witnessed the stunning volume of parcels that come into a single international mail facility on any given day,” Sharpless said in a statement Tuesday. “Many of these parcels lack any package labeling, contain products labeled as dietar


The acting head of the Food and Drug Administration inspected two international mail centers this week to examine U.S. efforts to seize foreign shipments of illicit vaping products, fentanyl and other drugs, the agency said Tuesday. “It is truly remarkable to have witnessed the stunning volume of parcels that come into a single international mail facility on any given day,” Sharpless said in a statement Tuesday. “Many of these parcels lack any package labeling, contain products labeled as dietar
Acting FDA chief inspects two international mail facilities for illicit vaping and opioid products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, facilities, international, vaping, opioid, officials, working, mail, illicit, fda, drug, authorities, chief, inspects, products, health


Acting FDA chief inspects two international mail facilities for illicit vaping and opioid products

A collection of popular vaping products include Suorin, Juul and Blu are displayed for Cheryl Phillips’ presentation at St. Joseph Mercy Canton Health Center in Canton on Monday, Sept. 24, 2018. The U.S. Food and Drug Administration has announced a series of policies to attack what it calls “the epidemic use of electronic cigarettes and nicotine addiction among kids.”

The acting head of the Food and Drug Administration inspected two international mail centers this week to examine U.S. efforts to seize foreign shipments of illicit vaping products, fentanyl and other drugs, the agency said Tuesday.

FDA chief Ned Sharpless dropped by facilities at John F. Kennedy International Airport in Jamaica, New York, and Secaucus, New Jersey, on Monday as federal authorities work to crack down on the large flow of illegal drugs and other substances that are smuggled into the U.S. each year.

It also comes as federal authorities combat two public health crises: one from vaping and the other due to opioids.

“It is truly remarkable to have witnessed the stunning volume of parcels that come into a single international mail facility on any given day,” Sharpless said in a statement Tuesday. “Many of these parcels lack any package labeling, contain products labeled as dietary supplements with hidden drug ingredients, or contain drug products or medical devices that are unapproved or counterfeit.”

He added: “I commend the hard-working men and women who play a pivotal role working around the country in support of our essential mission to protect the health of the American people.”

Regulatory officials say international mail facilities are prime targets for drug traffickers because parcel and vehicle inspections at the centers are limited due to staffing shortages.

U.S. officials claim China is the main source of illicit fentanyl that is trafficked into the U.S. Stopping shipment of the drug from China to the U.S. has been a focal point of conversation for President Donald Trump and Chinese President Xi Jinping as the two world leaders attempt to hash out a trade deal.

Sharpless also said FDA authorities are working with the U.S. Customs and Border Protection to identify potentially illicit vaping products.

Public health officials are working to identify the cause of a lung illness linked to vaping that resembles a rare form of pneumonia. Doctors say hundreds of the patients sick are suspected of vaping black-market cannabis products.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, facilities, international, vaping, opioid, officials, working, mail, illicit, fda, drug, authorities, chief, inspects, products, health


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Alibaba shopping sites appear to have de-listed Houston Rockets products in China

Searches in Chinese for “Houston Rockets” and “Rockets” on Alibaba-owned Taobao and Tmall and its rival JD.com yielded no results, highlighting the potential financial fallout the Rockets could face. Still, it drew sharp criticism from the Chinese Consulate-General in Houston and the Chinese Basketball Association. CBA also canceled four games scheduled for 19-20 October in Suzhou, China, which included some Rockets matches. Alibaba co-founder weighs inJoseph Tsai, the owner of the Brooklyn Nets


Searches in Chinese for “Houston Rockets” and “Rockets” on Alibaba-owned Taobao and Tmall and its rival JD.com yielded no results, highlighting the potential financial fallout the Rockets could face. Still, it drew sharp criticism from the Chinese Consulate-General in Houston and the Chinese Basketball Association. CBA also canceled four games scheduled for 19-20 October in Suzhou, China, which included some Rockets matches. Alibaba co-founder weighs inJoseph Tsai, the owner of the Brooklyn Nets
Alibaba shopping sites appear to have de-listed Houston Rockets products in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: arjun kharpal
Keywords: news, cnbc, companies, rockets, nba, sites, chinese, jdcom, tsai, alibaba, morey, shopping, manager, houston, appear, team, products, china, delisted


Alibaba shopping sites appear to have de-listed Houston Rockets products in China

China’s largest online shopping sites owned by giants Alibaba and JD.com appear to have removed items related to the Houston Rockets after the NBA team’s general manager tweeted support for the Hong Kong anti-government protestors which drew strong criticism in the world’s second-largest economy. Searches in Chinese for “Houston Rockets” and “Rockets” on Alibaba-owned Taobao and Tmall and its rival JD.com yielded no results, highlighting the potential financial fallout the Rockets could face. Representatives for Alibaba and JD.com were not immediately available for comment when contacted by CNBC.

It comes after Rockets general manager Daryl Morey tweeted the slogan “Fight for freedom, stand with Hong Kong,” which is being used by pro-democracy protestors in the Chinese territory. The tweet was quickly deleted and Morey sent a follow-up tweet attempting to diffuse the situation. Still, it drew sharp criticism from the Chinese Consulate-General in Houston and the Chinese Basketball Association. The CBA said it is was suspending cooperation with the team. The association is chaired by Yao Ming, a Chinese NBA star who was formerly with the Rockets, who is credited with helping the franchise grow its fan base in China. CBA also canceled four games scheduled for 19-20 October in Suzhou, China, which included some Rockets matches.

Alibaba co-founder weighs in

Joseph Tsai, the owner of the Brooklyn Nets NBA team as well as a co-founder at e-commerce giant Alibaba, also slammed Morey. In an open letter posted on his personal Facebook account, he ran through episodes in history to explain why the “Chinese psyche has heavy baggage when it comes to any threat, foreign or domestic, to carve up Chinese territories.”

… the hurt that this incident has caused will take a long time to repair. Joseph Tsai owner of the Brooklyn Nets NBA team

Certain topics “are third-rail issues,” Tsai said, adding that one of those is supporting what he dubbed a “separatist movement in a Chinese territory.” “By now I hope you can begin to understand why the Daryl Morey tweet is so damaging to the relationship with our fans in China. I don’t know Daryl personally. I am sure he’s a fine NBA general manager, and I will take at face value his subsequent apology that he was not as well informed as he should have been,” Tsai said. “But the hurt that this incident has caused will take a long time to repair.”

Broadcasters, retailers cut ties

Chinese tech giant Tencent, which owns the digital rights to NBA games in China, said it would stop showing Rockets matches and news related to the team. Tencent has been the digital media partner of the NBA in China since 2009. The two sides just announced an extension of their deal to the 2024-2025 season, that’s reportedly worth $1.5 billion. Chinese state broadcaster CCTV also said it would stop showing Houston Rockets games.

James Harden of the Houston Rockets shoots the ball against the Golden State Warriors during Game Six of the Western Conference Semifinals of the 2019 NBA Playoffs on May 10, 2019 at the Toyota Center in Houston, Texas. Andrew D. Bernstein | National Basketball Association | Getty Images

Meanwhile, Chinese sports retailer Li-Ning announced in an official post on the Twitter-like Weibo service that it was suspending co-operation with the Rockets following Morey’s comments.

NBA under fire


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: arjun kharpal
Keywords: news, cnbc, companies, rockets, nba, sites, chinese, jdcom, tsai, alibaba, morey, shopping, manager, houston, appear, team, products, china, delisted


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With Parmesan, pinot noir and more hit by new tariffs, here’s how to save on wine and cheese

The Trump administration is imposing a 25% tariff on European Union products like Spanish, French, and German wines, and Italian cheeses. In this case, starting on October 18, companies will have to pay more to import wine and cheese from certain European countries. WineThe items selected for this round of tariffs are “very specific and targeted,” says Gary Itkin, general manager and buyer at Bottlerocket Wine & Spirit. So while the price of French champagne won’t rise, because it’s a sparkling


The Trump administration is imposing a 25% tariff on European Union products like Spanish, French, and German wines, and Italian cheeses. In this case, starting on October 18, companies will have to pay more to import wine and cheese from certain European countries. WineThe items selected for this round of tariffs are “very specific and targeted,” says Gary Itkin, general manager and buyer at Bottlerocket Wine & Spirit. So while the price of French champagne won’t rise, because it’s a sparkling
With Parmesan, pinot noir and more hit by new tariffs, here’s how to save on wine and cheese Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: aditi shrikant, sam becker, alizah salario
Keywords: news, cnbc, companies, noir, tariffs, hit, wont, pinot, wines, save, parmesan, riesling, prices, itkin, heres, wine, region, products, cheese, youre


With Parmesan, pinot noir and more hit by new tariffs, here's how to save on wine and cheese

The Trump administration is imposing a 25% tariff on European Union products like Spanish, French, and German wines, and Italian cheeses. Tariffs are taxes placed on imported products. In this case, starting on October 18, companies will have to pay more to import wine and cheese from certain European countries. In response, retailers usually charge higher prices in stores, so individual American shoppers get charged more. If you’re a fan of chardonnay or cheese plates, here’s what you need to know about how tariffs could affect you, and how you can still manage to save money on the products you love.

Wine

The items selected for this round of tariffs are “very specific and targeted,” says Gary Itkin, general manager and buyer at Bottlerocket Wine & Spirit. They include any still wine from France, Spain, or Germany. So while the price of French champagne won’t rise, because it’s a sparkling wine, rosé from the Provence region of France will. The tariff will also be applied to still wine from France’s Bordeaux region, known for malbec and cabernet sauvignon, along with wine from the Burgundy region, which includes pinot noir and chardonnay. Other popular, affected wines are Rioja from Spain or riesling from Germany. Consider stocking up on these bottles now, Itkin says, as prices could rise within the next couple weeks. “On an everyday level, people buy so much rosé and so many lovely white wines like Sancerre,” he says. “Those prices will be going up. … These are wines that typically sell in the $15 to $35 range, so add 25% — that’s a big chunk.”

English cheddar and Stilton are two key items that will see price increases coming down the pike. Steve Millard SVP of Merchandising and Operations at Murray’s Cheese

Because the composition of wine is so dependent on the environment and soil, finding a true substitute is impossible, Itkin says. But, he says, there are some good alternatives that won’t be subject to tariffs. If you’re a fan of German riesling, he suggests trying riesling from the Finger Lakes region in New York, like Dr. Frank’s semi-dry riesling, which retails for $15.99. And instead of a Bordeaux malbec, you can try one from Argentina, like Bodega Norton Reserve, which retails for $19.99 at Total Wine.

Cheese


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: aditi shrikant, sam becker, alizah salario
Keywords: news, cnbc, companies, noir, tariffs, hit, wont, pinot, wines, save, parmesan, riesling, prices, itkin, heres, wine, region, products, cheese, youre


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