business
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Moncler is acquiring Italian luxury brand Stone Island. The deal, announced Monday, sees Moncler purchasing 70 percent of Stone Island’s parent company SPW from CEO Carlo Rivetti and other family members. Bloomberg reported the remaining 30 percent, meanwhile, will be bought from Singapore’s Temasek. The move follows the end of a period of double-digit growth […]
A number of big-name professional athletes will be cashing in on McCormick’s $800 million acquisition of Cholula. According to Forbes, Dwyane Wade, Travis Kelce, Dak Prescott, Victor Oladipo, J.J. Watt, and Ryan Tannehill are expected to see a return of around four times in their investment in the hot sauce company. In December 2018, the […]
On Tuesday, Kid Cudi announced the launch of his production and music management company Mad Solar with Dennis Cummings, Karina Manashil, and Bron, Deadline reports. “Beyond excited to be launching my production company Mad Solar and partnering with Bron, whose creative vision and storytelling has transformed the industry,” Cudi said of launching the company. “I am so very proud […]
Rising retail tech agency Fayetteville Road recently linked up with Nordstrom to put on the Women of Color FashTech Brunch. The special event, which launched last month, was created in response to the lack of community and limited opportunities that often face women of color in creative and tech-based fields. The event series aims to […]
Yelp has announced that it will post alerts on business pages where customers or employees have reported “overtly racist actions.” The local search and review site said customers will now be able to flag incidents of racism, and the site will place a “business accused of racist behavior” alert on an establishment’s page when it […]
The Motion Picture Association, Directors Guild of America, and NATO have joined forces with dozens of Hollywood’s leading filmmakers in a letter asking Congress to provide aid for the movie theater industry, which they warn “may not survive the impact of COVID-19,” Deadline reports. Seth Rogen, Lee Daniels, James Cameron, Sofia Coppola, Barry Jenkins, Patty […]
California Rep. Katie Porter presented another masterclass in political interrogation. On Wednesday, the Democratic lawmaker began trending on Twitter after she grilled a pharmaceutical CEO on his wildly high salary and the significanct price surge for Revlimid—a cancer drug commonly used to treat multiple myeloma and myelodysplastic syndrome. Porter presented her argument during a House Oversight Committee hearing that centered on an […]
Alicia Keys has joined forces with the NFL to launch a $1 billion endowment fund focused on supporting Black-owned businesses and communities, Billboard reports. Their partnership coincides with the announcement that Keys would be performing at the NFL’s Kickoff event for the 2020 season. Keys told Billboard she wanted to build off these last few months […]
David Klein, the businessman behind Jelly Belly’s version of jelly beans, appears to be tapping into his inner-Willy Wonka before calling it a career. That can mean one of two things (well, probably a lot more). Either he’s enslaved a group of little people, dyed them orange, and taught them how to sing, or he’s running […]
Beyoncé announced through her BeyGOOD foundation Wednesday that she will be donating $1 million in additional funds to help Black-owned small businesses. BeyGOOD teamed up with the NAACP in July to launch the Black-Owned Small Business Impact Fund, which aims to “help strengthen small businesses and ensure economic empowerment for Black businesses” by providing a number of $10,000 grants to businesses, […]
