Oct
 23
 2018



Ulrike

Hello,

Happy Tuesday and welcome back to The Spin! Today we check out, how much North Korean leader Kim Jong-un allegedly spends on luxury items, how a plus-size model tries to get back at Victoria's Secret, and why a maker of car fresheners has sued Balenciaga. Enjoy the read and feel free to share! Best, Ulrike



markets

Defiance. Since he took power in 2011, North Korean leader Kim Jong-un has allegedly spent more than $4 billion on imported luxury goods from China and other countries. According to a South Korean MP, last year alone Jong-un’s expenses for items like furs, watches, electronics and a seaplane reached $640 million. This type of trade is in direct defiance of UN sanctions over North Korea’s nuclear and missile testing.





retail

Immodest meanderings. The Modist might become part of a probe into the financial dealings of Dubai’s now defunct investment company, The Abraaj Group, which is being accused (paywall) of misusing investors’ money. The Middle Eastern modest fashion website was launched in 2017 by Ghizlan Guenez, who previously worked at Abraaj. Last November, The Modist allegedly received half a million dollars from Abraaj.





brands

Vans wins. According to a study by Piper Jaffray, VFC’s skate brand has just surpassed Nike as the fastest growing shoe brand among female teens. Nike remains the top athletic brand among teenagers, but rivals Adidas, Lululemon and Crocs are also eating into its market share, as are streetwear and luxury brands like Supreme, Gucci and Balenciaga.



Fresh fakes. Car-Freshner has sued French luxury label Balenciaga for copying the design of its Little Trees air fresheners for a key chain. The $275 accessory allegedly looks exactly like the 66-year-old American staple. Meanwhile, New York-based Halston is suing (paywall) Calvin Klein and CK-licensee G-III Apparel for copying its dresses and misleading customers by calling them “authentic”.





people

Goodbye, Gallardo. By mutual agreement, Justo Gallardo is leaving (paywall; in German) his position as Managing Director at German menswear specialist Benvenuto. Gallardo joined the company about two and a half years ago from rival Roy Robson. At Benvenuto, which just made headlines for a fashion cooperation (paywall; in German) with womenswear label VM Vera Mont, Managing Partner Florian Leithäuser takes over sole management.



50 shapes of beautiful. Australian plus-size model Robyn Lawley is calling for a boycott of this November’s Victoria Secret fashion show, claiming that the US lingerie brand has dominated the segment for almost 20 years by telling women that there is only one kind of body beautiful. The 29-year-old started the online petition for her three-year-old daughter's sake, urging supporters to boycott the brand until it commits to representing all women on stage.



Mourning Gilberto Benetton. Following a long illness, the billionaire co-founder of Italian fashion company Benetton Group Spa has died (in Italian) at his home in Treviso. Gilberto Benetton was 77 years old. His passing follows just months after the death of his brother Carlo in July. 





last

Donald's choice. Donald Trump has allegedly tipped luxury handbag maker Lana Marks as ambassador to her home country of South Africa. The 64-year-old would be the fourth Mar-a-Lago member that Trump has suggested for one of the many vacant ambassadorships since he took office. Marks’ bags are a staple on Hollywood’s red carpet and can cost up to $400,000. In the past, the designer has allegedly been embroiled in more than a dozen business lawsuits.







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