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<ul class="summary-list"><li>Nike's incoming CEO is an old face at the firm, having joined as an intern in 1988.</li><li>Over the course of more than 30 years, he worked his way up to top management before retiring in 2020.</li></ul>Nike's incoming CEO is an old face in the company, having worked his way up the ranks from intern to C-Suite exec.The sneaker maker has pulled <a target="_blank" href="https://www.businessinsider.com/nike-new-ceo-elliott-hill-may-help-ailing-sneaker-brand-2024-9">Elliott Hill</a>, one of its company veterans, out of retirement. He's set to take over Nike's outgoing CEO, John Donahoe, who has led the company since 2020. Hill's new appointment will be effective October 14, per the company's statement.According to Hill's biography, which Nike shared with BI, he started in the company as an apparel sales representative intern in 1988.He rotated through numerous roles in the company over the course of more than 30 years."I started my career at NIKE as an intern in 1988, taking on 19 different roles within the organization before retiring in 2020 as President — Consumer and Marketplace," Hill wrote in his recently-updated LinkedIn bio, as seen by Business Insider.In a company <a target="_blank" class="" href="https://about.nike.com/en/newsroom/releases/nike-inc-announces-return-of-long-time-nike-veteran-elliott-hill-as-president-and-ceo">statement </a>on Thursday, Hill said that Nike has always been a "core part" of his identity."I'm eager to reconnect with the many employees and trusted partners I've worked with over the years, and just as excited to build new, impactful relationships that will move us ahead," he said.Hill's return also appears to be part of a hiring trend where Nike falls back on its company veterans in a bid to turn things around. In June, it <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-07-08/nike-brings-back-retired-executive-tom-peddie-to-mend-retail-relationships">hired another retired exec, Tom Peddie</a>. Peddie, who worked at Nike for 30 years, joined as its vice president of marketplace partners.<h2 id="14c3e99d-381c-41de-8842-3d312eff4000">Hill's depth of experience with the company will benefit Nike, experts say</h2>Hill is taking over Nike amid <a target="_blank" class="" href="https://www.businessinsider.com/nikes-sales-to-fall-this-year-as-turnaround-plan-continues-2024-6">a rough patch for the sporting goods brand</a>. Nike has since December 2023 been <a target="_blank" class="" href="https://www.businessinsider.com/nikes-sales-to-fall-this-year-as-turnaround-plan-continues-2024-6">executing a plan</a> to save $2 billion in three years, with part of that coming from layoffs.The company has particularly struggled after it <a target="_blank" class="" href="https://www.businessinsider.com/nikes-pushing-direct-sales-consumers-love-foot-locker-dicks-2023-1">tried to sell directly to sellers</a>, and its relationships with marketplace retailers like Foot Locker soured.But Nike's now redoubling its focus on retailers. It's <a target="_blank" class="" href="https://www.businessinsider.com/nike-expands-deals-with-some-retailers-amid-dtc-shift-in-strategy-2023-6">boosted partnerships</a> with companies like Designer Brands, Macy's, and Foot Locker, particularly after cracks started to show in its direct-to-consumer sales push.Management experts BI spoke to said hiring a Nike veteran who knows the company intimately could benefit the company during this crisis."A veteran insider like Elliott Hill brings a lot of valuable firsthand experience that could be useful in addressing Nike's current challenges, like rebuilding strained relationships with its retail partners," David Daniels, an assistant professor of management and organization from the National University of Singapore, told BI.Daniels added, however, that insider CEOs run the risk of being "too deeply entrenched in traditional ways of thinking, which could limit their ability to introduce the kind of bold, innovative strategies that are often needed in a crisis.""By contrast, outsider CEOs can offer fresh perspectives and a greater diversity of thought, which are important for effectively navigating complex changes," Daniels added.But Hill's years at the company also mean he knows its structure — and many of the people working there.Peter Cappelli, a management and human resources professor from the Wharton School of the University of Pennsylvania, told BI: "That depth, which all CEOs had 40 years ago, means you know who the people are already, who's and who's not.""You also know what is worth preserving," Cappelli added.<div type="image" title="Nike footwear" height="1351" width="2000" msid="113520314" hostid="261" sizebytes="377256"></div>But that may be a double-edged sword, too. Cappelli added that there may "be a reluctance to change in ways that hurt people still there, especially former mentors."Jim Duffy, a Nike analyst for Stifel Institutional, told BI's Lloyd Lee that Hill's return as a Nike insider may well bring about a "revitalization of the Nike culture.""I also expect you're going to see kind of a <a target="_blank" class="" href="https://www.businessinsider.com/nike-ceo-john-donahoe-replaced-elliott-hill-return-to-innovation-2024-9">renaissance in the innovation</a> and product development process," Duffy added.Not many CEOs can say that they've worked their way up from interns to the top job in a company. Xerox's former CEO, <a target="_blank" class="" href="https://www.businessinsider.com/12-famous-people-who-paid-their-dues-as-interns-2011-6#xerox-ceo-ursula-burns-started-out-as-an-intern-years-later-she-became-the-first-black-woman-to-head-a-fortune-500-company-6">Ursula Burns,</a> was one of them.She started working at Xerox in 1980 as a mechanical engineering summer intern while completing a master's degree at Columbia University.Burns worked her way up from positions in product development and planning to executive assistant and vice president. She was named CEO in July 2009.Nike representatives did not respond to a request for comment from Business Insider sent outside business hours.

Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.

Despite unfavourable economic conditions in major markets such as the European Union (EU), the US, and West Asian nations, Indian <keyword id="21353395" type="General" weightage="100" keywordseo="textile-exports" source="keywords">textile exports</keyword> grew by 9.59 per cent compared to the previous year in May 2024, the Confederation of <keyword id="22064995" type="General" weightage="20" keywordseo="Indian-textile" source="keywords">Indian Textile</keyword> Industry (CITI) said in a report. Simultaneously, <keyword id="22064997" type="General" weightage="20" keywordseo="Indian-apparel-exports" source="keywords">Indian apparel exports</keyword> saw a growth of 9.84 per cent during the same period. The CITI in its report highlighted that the cumulative exports of textiles and apparel during May 2024 registered a growth of 9.70 per cent over May last year. The country's overall exports for May 2024 surged to USD 68.29 billion. This was a substantial year-on-year increase of 10.2 per cent, according to data released by the Commerce Ministry on June 14. The analysis noted that during Apr -May' 24, Indian textile exports registered a growth of 6.04 per cent over the previous year, while apparel exports registered a growth of 4.46 per cent during the same time period. The cumulative exports of textiles and apparel during April-May 2024 saw a surge of 5.34 per cent as compared to the same period last year. The recently released export data revealed that sectors such as electronic goods, drugs and pharmaceuticals, organic and inorganic chemicals, engineering goods, petroleum products, plastics &amp; linoleum, cotton yarn/fabs made-ups ( textiles manufactured), handloom products, etc., man-made yarn/fabs./made-ups, handloom products etc. performed well in the exports from the country. Other merchandise products, such as meat, dairy and poultry products, mica, coal and other ores, minerals including processed minerals, RMG of all textiles, tea, coffee, rice, tobacco, carpet and handicrafts, oil seeds; and fruits and vegetables, did well too. On Friday, AshwKumar, President of the Federation of Indian Export Organisations (FIEO), highlighted that a positive trajectory was seen in May 2024, driven by robust order bookings. Among the top ten export markets for India were the US, UAE, Netherlands, UK, China, Singapore, Saudi Arabia, Bangladesh, Germany and France. Considerably, in these markets, the exports registered a double-digit growth rate. Breaking down export data released yesterday, the merchandise exports witnessed a 9.1 per cent rise to USD 38.13 billion, while service exports climbed by 11.7 per cent, reaching USD 30.16 billion. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a><a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a>

Indian textile exports surge by 9.59% in May despite global economic challenges

With the onset of <keyword id="6393318" type="General" weightage="20" keywordseo="wedding-season" source="Orion">wedding season</keyword>, <keyword id="19621691" type="General" weightage="20" keywordseo="sectors-like-jewellery" source="Orion">sectors like jewellery</keyword>, <keyword id="6362766" type="General" weightage="20" keywordseo="apparel" source="Orion">apparel</keyword>, <keyword id="6368036" type="General" weightage="20" keywordseo="hotels" source="Orion">hotels</keyword>, <keyword id="31907" type="General" weightage="20" keywordseo="aviation" source="Orion">aviation</keyword> and other related industries are likely to gain traction. "Next week, we expect some momentum in market to return as investors will take cues from various economic data including GDP numbers for US, China &amp; India," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Vinod Nair, Head of Research at Geojit Financial Services, said domestic indices traded within a range throughout the week with a positive bias. The Fed reserve adopted a cautious stance and the muted trend in European and German markets was also echoed in domestic markets. Declining inflation and recent cooling job data in the US, along with easing US bond yields, attracted foreign funds to the emerging market. The broader Indian market experienced some profit booking as investor attention shifted to the primary market, marked by a set of IPOs scheduled for the week. Sectors such as consumer durables and realty took the lead, driven by a strong rebound in festive demand. However, the IT sector showed subdued performance in response to weak global data. Despite the RBI's scrutiny of unsecured lending by NBFCs, the banking index demonstrated resilience this week, he said.

Sectors like jewellery, apparel, hotels, aviation to gain traction with the onset of wedding season

<ul><li>The great Indian festival season is expected to bring in muted sales for apparel makers who saw spectacular sales last year.</li><li>Hit by inflation and other economic factors, Indians are likely to buy children apparel the most this festival.</li><li>Discounting is becoming a key driver for sales report retailers who have lost many full-price sales days in Q2 due to the delayed festival season. </li></ul>Last year, the Dusshera-Diwali festive season was the first after two years of lockdown. As expected, people spent with vigour on clothes, shoes and more. This year, not only has that fervour gone down, but inflation and other worries have cropped up. Little apparel is moving from the stores without discounting, say retailers. A survey conducted by Clothing Manufacturing Association of India (CMAI) indicated widespread pessimism amongst merchants. As many as 78% of those surveyed expect the sales this festive season to dip up to 25% as compared to last year. Half of the survey respondents feel that kid’s wear will lead the way in sales, followed by 36% citing women’s wear. Only 12% bet that men’s wear will perform better. “This aligns with the broader slowdown experienced in the domestic garment sector during the last 4-5 months. Nevertheless, we anticipate a market upswing after Diwali, considering the extended wedding season that lies ahead,” said Rahul Mehta, chief mentor of CMAI. The festive season sales are likely to see same store de-growth, it predicts. Gone with the pandemic Pepe Jeans India too believes that the pandemic-era growth has tapered. The UK-based brand saw its India sales rise by 55% in 2022 — which is 40% higher than the pre-pandemic sales. This year, it expects to grow at 18% but believes it will finish the year with 12-18%. “Last year was phenomenal. But the truth is that we are growing on a high base. The festive season has also been subdued. While Pujo and Onam sales were good, we will wait for the impact of the Diwali sales season which are yet to pick up. So, growth is there but its muted,” Manish Kapoor, MD &amp; CEO, Pepe Jeans India told Business Insider. Discounts the key driver for sales? Indians have turned wary of discretionary purchases with lower-than-expected salary increments and rise in inflation — softening the sentiment. And, the only thing that’s re-energizing this market is the discounting. Let’s take India’s top apparel company Arvind Fashions which saw a good 9% like-to-like sales growth, but most of it was driven by discount season. Its retail discounting went up 3% in the second quarter. “This quarter can be divided into two parts. We had delayed the End Of Season in July due to good sell-throughs. And we saw good double digit like-to-like retail growth in August and July, but it was slightly negative in September due to less number of full-price days as festive season season dates shifted to October,” said Shailesh Chaturvedi, MD &amp; CEO of Arvind Fashions in an earnings concall. The shift in wedding and festival season has also affected <keyword id="64373" type="General" weightage="80" keywordseo="shoppers-stop" source="Orion">Shoppers Stop</keyword>. “The demand environment remains weak. Across cities, towns and categories, unlike last quarter, or earlier quarters, where it was more driven by rural or non-metro weakening of demand,” said Kavindra Mishra, CEO of Shoppers Stop in its Q2 earnings concall. It too had to resort to discounting that has affected its margins too. “Our performance on private brands last year was based on the pent-up demand immediately post-Covid. Given the slowness in the market, we liquidated part of our merchandise at a higher discount,” Mishra said. (This article is a part of Business Insider India’s ‘Boom to Bust’ series which will discuss post-pandemic demand trends) SEE ALSO <a href="https://www.businessinsider.in/business/news/how-pizza-hut-kfc-dominos-lose-their-post-pandemic-boom-effect/articleshow/103438807.cms">The Quick and the Dead: How fast food players lost their pandemic boom effect</a> <a href="https://www.businessinsider.in/business/news/diamond-demand-heads-for-a-hard-landing-with-temporary-disruption-at-play/articleshow/103599134.cms">Diamond demand heads for a hard landing with ‘temporary disruption’ at play</a>

Bitten by inflation, Indians buying fewer clothes this season

<ul class="summary-list"><li>Kyte Baby denied an employee's request to <a target="_blank" href="https://www.businessinsider.com/zoom-tells-employees-return-to-office-remote-work-video-conferencing-2023-8">work remotely</a> to care for her newborn.</li><li>Critics railed against the company on social media for not being understanding of new parents. </li></ul>The stakes are getting higher in the <a target="_blank" href="https://www.businessinsider.com/return-to-office-mandates-employees-managers-fight-messy-remote-work-2023-11">return to office battle</a>. The <a target="_blank" href="https://www.businessinsider.com/guides/parenting/best-sleep-sack">Dallas-based baby apparel brand Kyte Baby</a> has been under fire this week for taking a hard line on remote work. The company allegedly fired its studio coordinator Marissa Hughes after she requested to work remotely to care for her newborn baby. The decision sparked backlash on social media, angry customers began boycotting the brand, and the company's founder and CEO Ying Liu has apologized for the decision on TikTok — twice. "I was insensitive, selfish, and had only been focused on the fact that her job had always been done on site, and I did not see the possibility of doing it remotely," Liu said in an apology video she posted on TikTok on Thursday. "Thinking back, it was a terrible mistake." <h2>Remote work request — denied. </h2>The saga began back in December when Hughes and her husband received a call from an adoption agency telling them about a newborn baby in the intensive care unit in El Paso, nine hours away from their Dallas home, Hughes' sister Kailee Moeller said in a video on TikTok. The company agreed to let Hughes <a target="_blank" href="https://www.businessinsider.com/meet-the-typical-remote-worker-income-profession-age-2023-9">work remotely</a> for two weeks to take care of her new baby, Moeller said. Hughes' role at Kyte Baby involved taking care of "everything in studio" from the models to the wardrobes to the sets for the company's photo shoots and marketing initiatives, according Moeller. Hughes had also been working at Kyte for under a year which meant she wasn't entitled to benefits from the Family and Medical Leave Act, which give certain new parents up to 12 weeks of job-protected leave.While the details of Hughes' discussions with her managers aren't entirely clear, she seemed to have requested a more <a target="_blank" href="https://www.businessinsider.com/maternity-leave-around-the-world-2018-5">extensive maternity</a> leave and questioned why she wasn't entitled to the same maternity benefits as her pregnant colleague, according to Moeller. The company ultimately told Hughes that if she didn't return to work in two weeks she would essentially be forfeiting her job, Moeller said. Hughes never returned to work, <a target="_blank" href="https://www.usatoday.com/story/news/nation/2024/01/19/kyte-baby-marissa-hughes-materinity-leave/72284395007/">according</a> to USA Today. She's been posting updates about her newborn on a <a target="_blank" href="https://www.gofundme.com/f/Judah-Medical-Fund">GoFundMe page</a> dedicated to raising money for his medical costs. "The extra time spent bonding and collaborating with his medical team has been such a blessing," Hughes wrote on the GoFundMe page on Friday. "It has ensured he is getting the best possible care while he continues to fight." <h2>Kyte Baby founder says "it was a terrible mistake"</h2>The drama has sparked a wave of backlash on social media. Angry mothers have been posting videos on TikTok throwing out their Kyte Baby onesies, calling for a brand boycott, and expressing their support for Hughes. Momfluencers and baby brand founders — including some of Kyte Baby's biggest competitors — have also donated thousands of dollars to Hughes' GoFundMe. Liu, meanwhile, has walked back the company's initial stance in two apology videos she posted to Kyte Baby's TikTok account this week. In the first one she posted on Thursday — which has garnered more than 2.5 million views — she said she wanted to "sincerely apologize to Marissa for how her parental leave was communicated and handled." She added Kyte Baby prides itself on being "a family-oriented company" that "treats biological and nonbiological parents equally." The video was criticized in the comments for being "scripted" and "insincere" and sounding too much like a statement prepared by the company's lawyer. So Liu posted a second, more candid apology, in which she admitted that "the comments were right, it was scripted. I memorized it, it wasn't sincere." She acknowledged that it was her decision to deny Hughes' request, and that she didn't "accommodate Marissa fully."Liu herself is a mother of five who <a target="_blank" href="https://kytebaby.com/pages/our-story">launched Kyte Baby</a> after struggling to find baby apparel that would calm her daughter's eczema. While she didn't deny that her apology was motivated by a decision to "save face" she said that as human being, mom, and owner of a baby business she wants to set the record straight on the "impact of her actions." She added that she would review Kyte Baby's HR policy and noted that the company would continue to pay Hughes' benefits and keep her position open if she decided to return. The video has racked up more than 5 million views. Kyte Baby did not respond to Business Insider's request for a comment, but Liu told USA Today that "based on our maternity policy at the time, all parents, whether biological or non-biological, who worked for the company for at least six months, received two weeks of paid maternity time." She added, "We continue to apologize to both Marissa and our Kyte Baby community for how her maternity leave was handled."

CEO of baby apparel brand Kyte Baby apologizes after denying employee's remote work request while newborn was in NICU

<ul class="summary-list"><li>Peloton stock rose as much as 12% Thursday after announcing a partnership with Lululemon.</li><li>Lululemon will discontinue its Studio Mirror and steer customers to Peloton's classes.</li></ul>Peloton stock soared Thursday after announcing an apparel and fitness content partnership with former rival Lululemon.As a part of the deal, Lululemon will discontinue its Studio Mirror line and steer customers to Peloton, which will now become the exclusive digital fitness content provider for Lululemon. Meanwhile, Peloton will sell co-branded Lululemon clothes."In the months ahead, we look forward to bringing this partnership to life with Peloton and leveraging the strengths of both brands to further support our growing guest and member communities on their fitness and wellbeing journeys," said Celeste Burgoyne, president of Lululemon's Americas and Global Guest Innovation team, according to a <a href="https://www.businesswire.com/news/home/20230927420138/en/lululemon-and-Peloton-Announce-Five-Year-Strategic-Global-Partnership" target="_blank" rel="noopener">press release</a>.The Lululemon partnership comes after each side attempted to break into the other's turf, igniting a rivalry. Lululemon's Mirror was a bid to break into the at-home fitness market, while Peloton had launched a line of its own apparel.A few years ago, the two were tangled in lawsuits against each other, brawling over "copycat" workout apparel like sports bras and workout tights.Peloton stock rose as much as 12% Thursday but pared gains sharply. It's down 41% since the beginning of this year and way below it's high of $167 in January 2021.The company <a href="https://www.businessinsider.com/peloton-company-history-rise-fall-2022-2">has struggled to perform well in the post-pandemic world</a>. Once valued at around $50 billion, Peloton has sunk to $1.7 billion. today. In August the company saw a <a href="https://markets.businessinsider.com/news/stocks/peloton-stock-price-subscribers-loss-bike-seat-recall-consumer-spending-2023-8">plunging stock and subscriber count after several bike seat defects</a>.

Peloton stock jumps 12% after announcing Lululemon partnership on apparel and fitness content

​Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake ​

<a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a><div type="image" title="Production workers at a Fanatics’ contract supplier facility in Vietnam, putting a logo on a shirt" height="1987" width="2650" msid="90526789" hostid="261"></div><ul class="summary-list"><li>Sports <keyword id="11899424" type="UNKNOWN" weightage="60" keywordseo="apparel" source="Orion">apparel</keyword> company <keyword id="12705238" type="UNKNOWN" weightage="60" keywordseo="fanatics" source="Orion">Fanatics</keyword> received accreditation by the Fair <keyword id="11910050" type="UNKNOWN" weightage="60" keywordseo="labor" source="Orion">Labor</keyword> Association in 2021.</li><li>The FLA holds its partners accountable to standards like health and safety and nondiscrimination.</li></ul>The apparel industry has long faced scrutiny over its <a href="https://news.climate.columbia.edu/2021/06/10/why-fashion-needs-to-be-more-sustainable/#:~:text=Fashion's%20environmental%20impacts,aviation%20and%20shipping%20sectors%20combined.">environmental</a> and <a href="https://labourbehindthelabel.org/our-work/working-conditions/">human toll</a>, including poor working conditions and low wages. <a href="https://www.fanatics.com/better-brands/x-361426+z-96765037-3840401395">Fanatics Brands</a>, a producer of licensed sports fan apparel, has stated its commitment to improving the labor ecosystem across its supply chain.In 2021, the company <a href="https://www.fairlabor.org/blog/entry/fair-labor-association-accredits-fanatics-brands">received accreditation</a> by the <a href="https://www.fairlabor.org/">Fair Labor Association</a> (FLA), an organization that promotes workers' rights and improves working conditions through partnerships with companies, colleges and universities, and civil society organizations. Fanatics Brands is a division of Fanatics Inc, headquartered in Jacksonville, Florida. The parent, as <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Ffanatics-raises-1-5-billion-at-27-billion-valuation-11646247220">reported in the Wall Street Journal</a> has raised $1.5 billion from investors, pushed into the NFT market with Candy Digital, is gearing up a sports-betting offering, and acquired <a href="https://markets.businessinsider.com/news/stocks/fanatics-acquires-topps-in-500m-deal-months-after-landing-licenses-away-1031076397">Topps</a> trading cards in January, 2022.The WSJ reports, "The company has said an IPO is likely but it remains focused on building the business and hasn't provided an update on timing." <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">Sustainability</keyword> credentials, including investing in workplace safety and equity, become important for companies that are thinking of going public — both in terms of potential risk factors and in brand-building differentiation. "Pre-IPO companies need to ready themselves for the kind of scrutiny they are going to receive," said Martin Whittaker, CEO of JUST Capital. "There's also a strong demand by investors for companies to show they can create value through the stakeholder model. That's going to make them more attractive to the marketplace."<h2>Partnerships help companies set their labor benchmarks</h2>The decision to work with FLA was a "no brainer," <a href="https://www.linkedin.com/in/michaela-hepburn-n%C3%A9e-corr-2741803/">Michaela Hepburn</a>, Fanatics sustainability senior director, told Insider."We take our commitment to mitigate labor impacts along our supply chain very seriously, and the accreditation signals this commitment to our stakeholders," she said, adding that fair labor, including safe working conditions and suitable wages, is a key part of the organization's sustainability goals.Fanatics Brands is among 30 other <a href="https://www.fairlabor.org/accreditation">FLA-accredited organizations</a>, including Adidas, Nike, New Balance, and Patagonia. Several others are working toward the designation.FLA helps fashion and apparel companies embed <a href="https://www.ilo.org/global/lang--en/index.htm">International Labour Organization</a> standards — such as workplace health and safety, nondiscrimination, and fair <keyword id="11893028" type="UNKNOWN" weightage="60" keywordseo="compensation" source="Orion">compensation</keyword> — into their own corporate governance practices. The association ensures they fulfill these commitments, <a href="https://www.linkedin.com/in/sharon-waxman-20a535a/">Sharon Waxman</a>, president and CEO of FLA, told Insider."We give accreditation to the companies that have demonstrated that they meet those standards and continue to make progress," she said. "This is not a one and done — it's a journey."Global supply chains can be complex and navigating various international laws and standards related to worker safety and pay can be daunting, Waxman said.Wages are especially complicated. Waxman said some countries don't have a minimum wage and others have a minimum wage that's below the poverty line. FLA offers a <a href="https://www.fairlabor.org/report/reach-living-wages-fla-fair-compensation-dashboard#:~:text=FLA%20members%20use%20a%20scalable,compensation%20against%20living%20wage%20benchmarks.">Fair Compensation Dashboard</a>, allowing companies to upload their wage data to compare to other organizations and make more informed compensation decisions.FLA's <a href="https://www.fairlabor.org/affiliates/participating-companies">participating companies</a> must commit to providing fair compensation, and the data help drive conversations internally and with manufacturers and labor groups about pay standards.Accreditation is a multi-year process to ensure company supply chains comply with the <a href="https://www.fairlabor.org/sites/default/files/fla-code_of_conduct_.pdf">FLA Workplace Code of Conduct</a>, which is based on international labor law and best practices around employee relationships, nondiscrimination, compensation, anti-abuse or harassment, child labor, and collective bargaining.FLA assesses a company's principles of fair labor, <a href="https://www.fairlabor.org/sites/default/files/responsible_sourcing_principles.pdf">responsible sourcing,</a> and <a href="https://www.fairlabor.org/sites/default/files/responsible_production_principles.pdf">responsible production</a>, including adopting and communicating workplace standards, training staff at all levels to recognize and resolve non-compliance issues, performing internal assessments, and offering workers ways to report problems confidentially.Ongoing performance evaluations ensure companies are moving toward their goals, Waxman added.Fanatics Brands' accreditation was based on several factors, including its social compliance program, which includes 11 global staff members. The company also publishes its labor commitments online, has an extensive social compliance training program for employees, conducts social compliance audits at contract facilities, and is progressing in its offering of living wages across its supply chain.<h2>Accountability and expectations </h2>According to <a href="https://www.fairlabor.org/sites/default/files/documents/reports/2021_fanatics_accreditation_report_public_report.pdf">FLA's external accountability report,</a> Fanatics Brands, which began its affiliation with FLA in 2016, has more than 90 factory locations (both contracted and owned) globally, with the highest numbers in the US and Thailand. The report includes a checklist of accreditation requirements that include making internal and public commitments to standards, social compliance staff training, and union consultation. Fanatics Brands met the majority of baseline requirements, with a few noted as "in process of implementing baseline requirements by the disclosed timeline."One area "in progress" relates to governance policies. "The new governance work includes the inclusion of sustainability in the charter of the current board-level compliance committee, and the integration of sustainability KPIs into Fanatics' management audits", read the report. FLA's remit is to track and confirm progress is made towards those goals. "We follow through to make sure and confirm that the commitment is actually being embedded into the way the company does business," Waxman said. "It's not enough to just say they're doing X, Y, or Z."Still, she emphasized that FLA is not a "gotcha organization." It's expected that companies will identify labor challenges in their supply chain — what's equally important is that they create a system to solve the problems.People are the most valuable resource at any company, she said, "It's in any company's self-interest to have a system and standards that ensure that their workers are treated right."

Fanatics Brands' journey to secure workers rights could benefit the company long term

<ul><li>A selection of almost 1,000 styles from <keyword id="398748" type="General" weightage="80" keywordseo="bebe" source="Orion">Bebe</keyword> will now be available across India. </li><li>Bebe apparel selection is priced from ₹800 onwards. </li><li><keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword> has more app downloads than <keyword id="18635" type="General" weightage="50" keywordseo="amazon" source="Orion">Amazon</keyword> ahead of the festive season. </li><li>The e-commerce giant has a customer base of 400 million. </li></ul>E-commerce marketplace Flipkart on Tuesday announced the onboarding of Bebe, a San Francisco-based fashion brand, ahead of the approaching festive season. This comes at a time when shoppers, especially in the mass medium segment, are increasingly seeking stylish fashion options. Owned and managed by <keyword id="2962391" type="General" weightage="50" keywordseo="bluestar-alliance" source="Orion">Bluestar Alliance</keyword>, Bebe’s catalog of almost 1,000 styles will be available to millions of Flipkart customers across metros and Tier 2 plus cities, the company said in a statement. “Flipkart understands our brand and how to engage the fashion-centric consumers online. We are looking forward to working together to reach the Bebe shopper in this exciting market,” <keyword id="14910355" type="General" weightage="50" keywordseo="ralph-gindi" source="Orion">Ralph Gindi</keyword>, owner and COO, Bluestar Alliance said. Priced from ₹800 onwards, the Bebe selection includes tops, dresses, hats, co-ord sets, denims, sleepwear, activewear and lingerie, and is available on Flipkart today. “The past two years have witnessed a tremendous shift in consumer preferences when it comes to fashion, as it deepens to new niche categories such as athleisure. The Bebe launch comes at an opportune time when people across India, from metros to T2+ regions, seek to upgrade their wardrobes for the festive season,” said <keyword id="3483653" type="General" weightage="50" keywordseo="sandeep-karwa" source="Orion">Sandeep Karwa</keyword>, vice president, <keyword id="2547930" type="General" weightage="50" keywordseo="flipkart-fashion" source="Orion">Flipkart Fashion</keyword>. Flipkart had over 50 million app downloads ahead of festive season, surpassing that of Amazon, according to wealth management firm Bernstein’s report. The e-commerce giant is leading the festival market share with 62% while Amazon has 27%, the report said. Flipkart has a registered customer base of more than 400 million, offering over 150 million products across 80 plus categories, the company claims. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-beats-grey-market-expectations-lists-at-a-55-premium/articleshow/94017839.cms">DreamFolks Services beats grey market expectations, lists at a 55% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/investment-lessons-from-rakesh-jhunjhunwalas-1111-partner-utpal-sheth/articleshow/94008505.cms">Investment lessons from Rakesh Jhunjhunwala’s 1+1=11 partner, Utpal Sheth</a>

Flipkart onboards American apparel company Bebe ahead of festive season

<ul class="summary-list"><li>Rising <keyword id="12062969" type="UNKNOWN" weightage="60" keywordseo="food-prices" source="Orion">food prices</keyword> are starting to affect people's spending habits, <keyword id="11893281" type="UNKNOWN" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword> said. </li><li>The company warned that customers are not buying as much <keyword id="12062142" type="UNKNOWN" weightage="60" keywordseo="clothing" source="Orion">clothing</keyword> and other merchandise because of high <keyword id="11894142" type="UNKNOWN" weightage="60" keywordseo="food" source="Orion">food</keyword> and fuel costs. </li></ul>Rising food and gas prices are starting to take a hit on Walmart customers' spending habits, according to the company. The box-box store <a href="https://corporate.walmart.com/newsroom/2022/07/25/walmart-inc-provides-update-for-second-quarter-and-fiscal-year-2023">said</a> late Monday that "double-digit" food <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> has hurt sales in other areas of Walmart's stores — and will continue to do so for the rest of this year. The company said earnings per share for its fiscal 2023 will fall about 11% to 13%, coming in below the latest Wall Street estimates.Walmart said customers have slowed down spending on other items, like clothing, as a result of climbing <keyword id="6372044" type="UNKNOWN" weightage="60" keywordseo="grocery" source="Orion">grocery</keyword> prices eating into their paychecks. The company said it has had to mark down clothing prices recently in order to sell them to customers and "reduce inventory." "The increasing levels of food and fuel inflation are affecting how customers spend," Walmart CEO <keyword id="13960474" type="UNKNOWN" weightage="60" keywordseo="doug-mcmillon" source="Orion">Doug McMillon</keyword> said in a press-release statement. McMillon warned that he anticipates even more pressure on spending through the second half of 2022. Walmart shares were down 8.8% in recent after-hours trading.Walmart's warning comes as <a href="https://www.businessinsider.com/fed-rate-hike-inflation-gas-food-prices-recession-outlook-risks-2022-7">inflation</a> overall continues to climb in the US. The latest government consumer price <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-inflation-cpi-fed-1981-central-bank-2022-7">data</a> from June found that food <a href="https://www.bls.gov/news.release/cpi.nr0.htm">prices</a> have risen more than 10% from last year. In May, McMillon said that the company planned to <a href="https://www.businessinsider.com/walmart-target-huge-costs-likely-add-price-rises-2022-5">switch</a> certain products in its deli, lunch meat, and dairy sections to lower-cost items since inflation could cause more customers to cut back on spending on premium brands. Rising food costs are not the only issues Walmart has to deal with right now.Earlier Monday, Insider <a href="https://www.businessinsider.com/leaked-walmart-memo-lists-strategy-to-combat-overstock-pause-delivery-2022-7">reported</a> that Walmart has allowed employees to pause its internal automatic ordering system due to stores not being able to sell products fast enough, according to a leaked memo. Boxes of unsold products have piled so <a href="https://www.businessinsider.com/photos-walmart-excess-inventory-overstock-in-aisles-2022-7">high</a> in some stores that they block access to bathrooms, according to Insider's reporting.

Walmart says the high cost of food and gas is hindering the ability of its customers to buy anything else, which will hurt its bottom line

<keyword id="11079501" type="General" weightage="20" keywordseo="100-THIEVES" source="Orion">100 Thieves</keyword>, which is ranked the second-most valuable <keyword id="2440542" type="General" weightage="20" keywordseo="ESPORTS" source="Orion">esports</keyword> organisation in the world, has laid off several <keyword id="6357081" type="General" weightage="20" keywordseo="EMPLOYEES" source="Orion">employees</keyword> across both its social media and content teams in a major shakeup for the esports, media, and <keyword id="1496410" type="General" weightage="20" keywordseo="APPAREL-COMPANY" source="Orion">apparel company</keyword>, including senior staff and executives. 100 Thieves, with a $460 million valuation, reportedly fired senior members of social media and content team, including video editors and executive producers, reports Dexerto. Esports social media veteran Blackbeard, previously of OpTic Gaming, was among those laid off. Executive Producer Mike Aransky, formerly of IGN and ESPN fame, was another big name. "I do not know how to start this. So today, after almost 4 years of @100Thieves I say good-bye," Aransky tweeted on Thursday. Aransky helped "build the content team from the ground up." Employees hit by the layoffs expressed their gratitude for time spent with 100 Thieves. "From being a fan for years to working at the company and meeting amazing people, it's been an absolute pleasure," tweeted former editor Alec Daughtry. Recently, the leading esports organisation TSM also reportedly laid off more than 20 employees.

Top Esports Firm 100 Thieves Lays Off Dozens of Employees Including Senior Executives

<ul class="summary-list"><li><keyword id="11971148" type="UNKNOWN" weightage="60" keywordseo="gap" source="Orion">Gap</keyword> CEO Sonia Syngal is resigning from the retailer, effective immediately. </li><li>The company's executive chairman of the board will fill in temporarily. </li></ul>Sonia Syngal, the president and CEO of Gap, is resigning from her position, the company <a href="https://www.gapinc.com/en-us/articles/2022/07/gap-inc-announces-ceo-sonia-syngal-to-step-down-an">announced on Monday</a>. The company's executive chairman of the board, Bob Martin, will serve as interim CEO, effective immediately. Syngal will stay on during a brief transition period before leaving the company, Gap said. Shares of the <keyword id="11899424" type="UNKNOWN" weightage="60" keywordseo="apparel" source="Orion">apparel</keyword> retailer sank as much as 3% in after-hours trading before rebounding slightly. Gap has struggled to cope with supply-chain challenges in recent months. It posted a <a href="https://gapinc-prod.azureedge.net/gapmedia/gapcorporatesite/media/images/investors/1q22-epr-with-tables-final.pdf">net loss of $162 million</a> in the quarter ending on April 30, compared with a $166 million profit the year prior. Syngal worked at Gap since 2004, serving as CEO of the Old Navy brand before rising to the role of CEO in 2020.

You Searched For "Apparels" and got 12 results

Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.

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Indian textile exports surge by 9.59% in May despite global economic challenges

ANI

Sectors like jewellery, apparel, hotels, aviation to gain traction with the onset of wedding season

IANS

Bitten by inflation, Indians buying fewer clothes this season

Katya Naidu

CEO of baby apparel brand Kyte Baby apologizes after denying employee's remote work request while newborn was in NICU

Lakshmi Varanasi

Peloton stock jumps 12% after announcing Lululemon partnership on apparel and fitness content

Aruni Soni

Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake

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Fanatics Brands' journey to secure workers rights could benefit the company long term

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Flipkart onboards American apparel company Bebe ahead of festive season

Eetika Kapoor

Walmart says the high cost of food and gas is hindering the ability of its customers to buy anything else, which will hurt its bottom line

Samantha Delouya

Top Esports Firm 100 Thieves Lays Off Dozens of Employees Including Senior Executives

IANS

Gap CEO steps down amid falling sales

Tim Levin

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You Searched For "Apparels" and got 12 results

Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.

Aditi Bharade

Indian textile exports surge by 9.59% in May despite global economic challenges

ANI

Sectors like jewellery, apparel, hotels, aviation to gain traction with the onset of wedding season

IANS

Bitten by inflation, Indians buying fewer clothes this season

Katya Naidu

CEO of baby apparel brand Kyte Baby apologizes after denying employee's remote work request while newborn was in NICU

Lakshmi Varanasi

Peloton stock jumps 12% after announcing Lululemon partnership on apparel and fitness content

Aruni Soni

​Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake ​

Bhakti Makwana

Fanatics Brands' journey to secure workers rights could benefit the company long term

Erica Sweeney

Flipkart onboards American apparel company Bebe ahead of festive season

Eetika Kapoor

Walmart says the high cost of food and gas is hindering the ability of its customers to buy anything else, which will hurt its bottom line

Samantha Delouya

Top Esports Firm 100 Thieves Lays Off Dozens of Employees Including Senior Executives

IANS

Gap CEO steps down amid falling sales

Tim Levin

Popular Keywords

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Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake