Aug
 18
 2017



Ulrike

Hello,

Wishing you an excellent Friday. With stories about a new Pantone color in honor of the late pop star Prince, a virtual reality tour through Kendall Jenner's personal closet, and the latest household item to be elevated to luxury designer status, today’s issue of The Spin might be a suitable send-off into weekend. Enjoy the read and as always, feel free to share. Best, Ulrike



retail

Scolding Amazon. From US President Donald Trump to anti-poverty confederation Oxfam, criticism of online giant Amazon.com is on the rise. Trump accused the Seattle-based company of ongoing tax avoidance, claiming that it causes great damage to tax paying retailers all over the United States. Shortly after, Amazon's shares went down more than 1 percent.


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Setting the record straight. A closer look at Amazon's SEC filings shows that the company actually does pay US taxes, albeit at a lower rate than the S&P 500-stocks' average of 26.9 percent. On its European revenues of €21.6 billion reported through Luxembourg in 2016, the company paid €16.5m in taxes.



Suing Amazon. In South Carolina, Amazon currently faces a tax fight that could change the entire online business. The state's Department of Revenue claims that online marketplaces must collect taxes on behalf of all vendors selling to South Carolina residents. At least, Amazon does not have any trouble raising funds. Its latest bond issuance proves that the company can borrow money more cheaply than many countries.





tech

Deep dive. US Vogue has teamed up with Google's Daydream VR platform for a virtual reality series that takes viewers deep inside the closets of supermodels like Kendall Jenner and Cindy Crawford. Using Yi Halo jump cameras for professional VR capture, the videos allow for a 360 degree view. In the first episode, which was broadcast live on youtube on August 15, Kendall Jenner pulls out her favorite boots, a pair of jeans she actually tried to steal from a photo shoot and her grandma's vintage fanny pack.



Be more "bothie". Just when the world got used to the ever present selfie takers, the new Nokia 8 smartphone pushes the boundaries of the phenomenon. The phone's technology is based on dual Carl Zeiss cameras which permits the simultaneous capture of both the operator and the subject for what the company calls a "bothie". Both images or videos are paired up next to each other and can even be live-streamed.





markets

Blue giant. Taiwan-listed garment maker Roo Hsing Garment Co has merged with Chinese denim and knit specialist JD United to become one of the world’s leading denim manufacturers with combined revenues of over $500 million. Hong Kong-based private equity company EmergeVest, which first funded JD United in 2014, has now completely exited its investment in the company.





people

From Burberry to Jack Wills. British heritage-inspired fashion retailer Jack Wills has poached Claire Waugh from Burberry to fill its newly created (paywall) position of Chief Marketing Officer. Waugh came to Burberry from Starbucks in 2014 and was last responsible for menswear, leather and soft categories. At Jack Wills, she will report to founder and CEO Peter Williams.



Pantone's purple nod to Prince. In honor of the late pop star Prince Rogers Nelson who went by an un-pronouncable Love Symbol between 1993 and 2000, Pantone created a purple shade called Love Symbol #2. According to the color institute, the hue pays tribute to Prince's indelible mark on music, art, fashion and culture.





last

Channeling Warhol. Designers like to integrate common household items into their creations. Jeremy Scott regularly shows fast food elements, while Balenciaga has recently been playing with costly interpretations of Ikea’s blue FRAKTA bag, prompting Ikea to release a checklist to identify the original. The latest baffling item is duct tape. Calvin Klein's Raf Simons offers $200 versions to be worn as casual belts with precious cashmere coats.







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