Mar
 23
 2018



Ulrike

Hello,

Happy Friday and welcome back to The Spin! Donald Trump’s decision to go ahead with tough China tariffs is raising fears of a global trade war, an online giant plans to improve the communication between drones and humans, and Kering has to answer the Swiss tax man. There is also an unexpected gift, the late street style photographer Bill Cunningham left behind for his many loyal fans. Enjoy the read - and the weekend! Best, Ulrike



markets

Economic hit man. US President Donald Trump has ignored pleas from US companies and went through with his plan to impose $60 billion in China tariffs, sinking the Dow Jones almost 3 percent. Chinese tech stocks were hit even harder. According to the ITIF, a 25 percent tariff on Chinese imports could slow of US output by $332 billion over the decade. Experts call the decision a serious risk to the economy, and warn it could trigger a trade war. Other countries affected include Russia, Japan and India, while the EU, Nafta and a few other countries have been exempted.


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Fake finder. Since its launch in 2014, Diet Prada has grown into an unofficial watchdog for fashion's ever present appropriations, inspirations and outright copies. Not sparing any name, the site's anonymous co-creators continuously publish their findings in neat side-by-side line-ups of originals and copies. As they work to move fashion past the current era of peak sameness, they have attracted many high-profile followers including Gucci’s Alessandro Michele, top model Gigi Hadid and singer Pharell Williams.





tech

Here's talking to you, drone! A new patent allows Amazon to advance "human interaction with unmanned aerial vehicles". The technology enables a drone to understand a range of arm gestures humans might use in trying to shoo it away or motion it to come closer. The technology also allows drones to recognize audible cues such as screams and shouts.





brands

Kering query. Swiss prosecutors opened a criminal probe into a tax case involving an ex-manager of French fashion group Kering, the owner of luxury brands like Gucci, Saint Laurent and Balenciaga, alleging offenses like money laundering and document forgery by unknown persons. Kering insists it complied with its tax obligations in Switzerland. The announcement comes four months after Italian officials started investigating Kering's Gucci brand.



Reversal of fortune. Although Nike Inc reported a $921 million Tax Act related Q3 loss right after being hit by a misconduct scandal, its stock went up in after hour trading. Investors seem to be pleased, that Nike’s recent product revamp contributed (press release) to a "significant reversal of trend in North America".





retail

Back to black. In 2017, German department store chain Karstadt has generated (paywall; in German) a profit for the first time since 2008. The Signa-owned company plans to deal out the funds to its workforce in form of a special payment. Although sales declines have been halted, the company expects business to remain difficult and plans to transform (paywall; in German) its stores to market places, collaborating with sub-tenants like bakeries, supermarkets and drugstores.





people

Leaving Lanvin. After only eight months on the job, Artistic Director Olivier Lapidus is leaving French fashion house Lanvin. The announcement follows changes to the management of the Fosun-owned company. Until a successor is found, Lanvin's in-house team will design the collections. When Lapidus was hired, the company planned to expand into a lifestyle brand and bring back couture.



The cunning Mr. Cunningham. The world famous and very private street style photographer Bill Cunningham, who passed away in June 2016 at age 87, had actually written a secret memoir. It reveals unexpected insights into his past, like him wearing his sister's dresses at age four, and later trying to crash New York Fashion Week. The manuscript has been sold to Penguin Press, which plans to publish Fashion Climbing this September.





last

Dating with Yeezy. Music and fashion mogul Kanye West is preparing to launch a dating website. Yeezyfans.dating matches singles according to their favorite Kanye West tracks and albums and explicitly bans Taylor Swift fans. The announcement has already inspired tongue-in-cheek suggestions for other entertainment-taste based dating sites. Cher Dating, anyone?!







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