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<ul class="summary-list"><li>Gen Z could account for nearly a third of luxury purchases by 2030, Bain reports.</li><li>Yet, after COVID-19, many brands neglected younger consumers to focus on the uber-wealthy.</li></ul>The first people to shop at <a target="_blank" class="" href="https://www.businessinsider.com/hermes-escapes-luxury-industry-slump-lvmh-kering-struggle-2024-10">Hermès</a> are long gone, as are those at Louis Vuitton and Prada. Yet, the brands still exist because their ultimate goal is to continuously train new generations to fall in love with luxury.But now it appears that some luxury brands have forgotten that aim.After the pandemic, luxury players took their eye off the ball <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-gospel-of-wealth-manifesting-tiktok-dating-2024-11">with Gen Z</a>, a generation Bain &amp; Company estimates could account for nearly a third of all luxury purchases by 2030. Industry experts say brands took advantage of inflation by hiking prices and heavily focused on their wealthiest clients with VIP experiences, essentially putting aspirational consumers on the back burner.Two years later, this strategy seems to have backfired, shrinking the luxury customer base by 50 million, Bain reports in its 2024 luxury study, published Wednesday."There's been a kind of a refocusing, probably an over-correction of the strategy, to focus on the top of the pyramid that was more resilient in a moment of turbulence," Claudia D'Arpizio, senior partner and global head of Fashion and Luxury at Bain told Business Insider."Luxury brands aim to stay forever," Blanca Zugaza Escribano, a fashion and luxury consultant at Metyis, said.But to do that, brands "need to keep an eye on both sides of the business," she added. And that includes winning back Gen Z through decisive strategy shifts, creative partnerships, and affordable luxury.<h2 id="7ff2a5fb-18da-4547-8857-cb52ac8b582a">Training the next generation</h2>D'Arpizio said that to get Gen Z back on board, luxury brands must adopt a "high-low" strategy, part of which entails releasing affordable products that appeal to younger, aspirational consumers and their core clientele.<a target="_blank" href="https://www.businessinsider.com/gen-z-luxury-perfume-obsession-tiktok-fragrance-teen-boys-branding-2024-10">Fragrance</a>, beauty, and eyewear — categories that have shown resilience through <a target="_blank" href="https://www.businessinsider.com/whats-behind-china-luxury-goods-slowdown-economy-changing-consumer-tastes-2024-10">the industry-wide slowdown </a>— could be key to this strategy.In its most recent earnings results, LVMH reported that perfumes and cosmetics delivered the strongest growth across sectors in Q3, up 3%. This division was up 5% for the first nine months of 2024 compared to the previous year.Meanwhile, Kering's beauty and eyewear divisions were also one of the few highlights from its own latest earnings, delivering 7% same-store sales growth in Q3. <div type="image" title="Sabrina Carpenter performs during the 2024 Governors Ball at Flushing Meadows Corona Park in New York City." height="853" width="1280" msid="115360802" hostid="261" sizebytes="44798"></div>Jamie Ray, the CEO of Buttermilk, a marketing agency that works with luxury brands, said his company's work to help launch Prada's beauty range in the US this year through nano influencers on TikTok, coupled with <a target="_blank" class="" href="https://www.businessinsider.com/sabrina-carpenter-mom-advice-relieve-stress-touch-grass-shortnsweet-2024-8">Sabrina Carpenter</a> whipping out one of its lip balm's in a music video, is a prime example of how brands can and should try to resonate with Gen Z."The broader issue I think every luxury fashion house or conglomerate has is: 'We can't sell a $5,000 handbag to a 21-year-old," he said. "'But we can sell a lip oil, or we can sell foundation, and they still get some sort of emotional attachment.'"Not only do affordable products align with Gen Z's current spending power, but they can develop lasting brand loyalty, which Escribano said will pay off long-term."That little piece of luxury that you're carrying with you is already building you into a potential future customer if you ever have the means to actually purchase the products that are aimed at the higher net worth customers," she said.<h2 id="d0804aea-f5cd-41e4-8e67-9ba0ab368a1b">Getting Gen Z excited to spend</h2>But putting out affordable products is only half the work. The other half is getting Gen Z excited to spend on them.Escribano said one key way brands can do this is by embracing Gen Z's love of experiences and showcasing the brand in creative ways. Thomaï Serdari, a luxury marketing and branding professor from NYU's Stern School, previously told BI that <a target="_blank" class="" href="https://www.businessinsider.com/nfl-partnership-luxury-fashion-brand-pricey-women-team-jackets-2024-10">luxury brands</a> also increasingly see <a target="_blank" class="" href="https://www.businessinsider.com/luxury-brands-taking-over-paris-olympics-lvmh-dior-armani-glossier-2024-7">sports</a> as an opportunity to connect with younger consumers.But relying on partnerships has risks, as Gen Z is more discerning than previous generations, Escribano said. Those that come across as superfluous or not in alignment with a brand identity could be unsuccessful."It's not let's collaborate to push a collection with this random person who's now super hot on Instagram or who's super popular," Escribano said.<div type="image" title="The Chanel Store in Tokyo's Ginza district." height="853" width="1280" msid="115360801" hostid="261" sizebytes="149866"></div>Ray of Buttermilk said that some luxury brands have been hesitant to explore collaborations as a means of engaging Gen Z consumers because they fear losing their luxury allure."The brands that have struggled probably are the brands that are more heritage brands," he said. "They've got such a true sense of who they are, almost to their detriment. They're too scared to reinvent themselves."<h2 id="ee0d4082-fffa-4f1d-8e67-52b9ce670e21">The future is vintage</h2>Luxury players might be kicking themselves for alienating Gen Z consumers, but Gen Zers never forgot about luxury.The proof is in the meteoric growth of <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-secondhand-shopping-luxury-high-end-preloved-items-report-2023-4">the secondhand luxury</a> market, which Bain reports reached $47 billion in 2023.Not only do secondhand luxury marketplaces like The RealReal satisfy Gen Z's love of gamification and collecting, but they are "serving their "unmet demand," D'Arpizio said.But secondhand's success isn't bad news for primary luxury brands, Escribano said.<div type="image" title="Vintage clothes on rack" height="1412" width="2122" msid="115360800" hostid="261" sizebytes="140784"></div>"There's no cannibalization between secondhand and firsthand," Escribano said. "A customer that's actually a VIC — a very important customer — for The Row or for whatever luxury brand, they're not going to go into secondhand to save."Bar certain luxury products like Hermès Birkins handbags, secondhand luxury is by and large cheaper and retains a level of exclusivity, she said. "It also has this sustainability factor to it that is growingly important to younger generations," she added.By dedicating more initiatives to secondhand, collaborating with resell companies, or releasing slightly more accessible specific pre-loved lines, luxury brands can connect with Gen Z consumers while avoiding alienating their top 1% of consumers."It's another amazing entry point for younger customers," she said.

Luxury brands forgot about Gen Z. They can't afford to make that mistake again.

<keyword id="19968766" type="General" weightage="100" keywordseo="Neeraj-Chopra" source="keywords">Neeraj Chopra</keyword> is all about greatness without pretensions. A fierce competitor, a superstar of <keyword id="20682485" type="General" weightage="20" keywordseo="Indian-sports" source="keywords">Indian sports</keyword>, and a humble human being who would make no bones about his limitations or desires, the double <keyword id="19922930" type="General" weightage="20" keywordseo="Olympic-medallist" source="keywords">Olympic medallist</keyword> from India, is all rolled into one. He may want the top prize for himself, but would not be envious if the rival pips him. He would tell himself to accept what he got, and work harder to achieve what he desires. He would not pretend that he does not care for <keyword id="21025703" type="General" weightage="20" keywordseo="brand-endorsement" source="keywords">brand endorsement</keyword>. He certainly wants it, money matters, but would not compromise on his training for that. The 17-minute interaction with the Indian media after winning a silver medal in the <keyword id="4833237" type="General" weightage="20" keywordseo="Paris-Olympics" source="Orion">Paris Olympics</keyword> was more than just a routine question-answer session. 'Your first throw was foul then in the second...,' the scribe had not even completed his question before Chopra quipped, "Saari throw fouls hi thi sir sirf doosri hi theek thi (All throws were foul, except the second one)," he said, chuckling, and the 50-strong group joined him in laughter. It was not a great deal for him to say he fouled five of his six attempts. The long Q and A session was largely in Hindi with Indian and Pakistani journalists asking questions, but when the volunteer requested an answer in English for the benefit of few foreign scribes, Chopra laid bare his simplicity. "Now I need to motivate myself to speak in English, the way I motivate myself for competition," he said with a smile, as the gathered group burst out in laughter. 'Can you describe the competition between you and Nadeem, India and Pakistan,' the foreign scribe asked again, requesting the answer in English. Well, he explained pretty well, effortlessly. "It was a really great competition. Maybe one of the greatest competitions in history. Arshad threw really well. I was also in good shape. But I don't know. My runway was not that good today," he responded quickly, without having to think much. It was inevitable that he would be asked about the missed competitions in the 2024 season, leading up to the <keyword id="19916613" type="General" weightage="20" keywordseo="Paris" source="keywords">Paris</keyword> Games. It led to speculations whether he was carrying injury into the Paris Games. He had skipped the Paris <keyword id="74857" type="General" weightage="20" keywordseo="Diamond-League" source="Orion">Diamond League</keyword> in July, just before the Games, though he later clarified that the event was not part of his competition calendar. He revealed how difficult it becomes for him to say no to the organisers despite fitness concerns. With a wide grin, he said, "Of course I need to play more but then I send those carefully drafted messages that I have suffered a strain and I won't compete. "In few competitions I have played just for the sake of organisers, so that they don't feel bad. I keep thinking that I have entered the competition and if I don't go, they will say I am making excuses. Personally I love to compete as much as possible. "I make plans but then you tell your team, 'let's draft a good message, saying sorry for pulling out," he said, laughing, but the pain of missing the event was writ large. "No happiness is greater than playing. You work hard to compete only. Whatever strength God has given me I do." Then came a tricky one. He was asked about the pressure of sponsors in the Olympic cycle. How he finds that balance between brand endorsements, obligations and training? Again, he came up with an honest answer. "I put my game on top priority after Tokyo and after Tokyo Games only I got the opportunity to get associated with brands. It is difficult for us that brands come after you, and if you get it, why will you leave that opportunity. Just do it," he said, with all honesty. "It also opens the way for kids (next generation), 'nahi to shreer hi tootega khel khel key, last mein kuch nahi rahega." How many athletes say that so openly? "So I balance it. Priority is sport. This was an Olympic year, so whatever commitments I had, I fulfilled in the first half. "You have seen I have been training outside since Tokyo." He could be upset inside for not being able to defend his title, but accepted that Thursday was Nadeem's day. Lastly, volunteers did their best to push him out of the mixed zone, but he would keep coming back either to sign autographs or honour the request for selfies. After all, he knows how to find a balance between different things and saying no is the most difficult thing for him.

Neeraj Chopra: A legendary athlete on field, a superstar without pretension off it

<ul class="summary-list"><li>Jeffree Star, Tati Westbrook, and other influencers once ruled the beauty side of YouTube.</li><li>Now, they're taking over TikTok with lengthy livestreams focused on selling products.</li></ul>A livestream hosted by<a target="_blank" href="https://www.businessinsider.com/jeffree-star-wyoming-from-la-mansion-yak-ranch-timeline-2021-8"> Jeffree Star</a> filled my iPhone screen during a late-night TikTok<a target="_blank" href="https://www.businessinsider.com/new-study-finds-doomscrolling-leads-to-bad-physical-mental-health-2022-9"> doomscroll</a> in June.Wearing a baby-blue Western blouse with fringe detailing and a wig of the same shade, Star stood behind a pink desk with beauty influencer Paul Dao. Together, they promoted lip gloss and other products from Jeffree Star Cosmetics.It had been a long time since I'd watched Star's content, which usually highlights his lavish lifestyle and harsh but honest makeup opinions. He's also known for getting involved in internet scandals. As memories of<a target="_blank" href="https://www.businessinsider.com/dramageddon-youtube-jeffree-star-manny-mua-laura-lee-gabriel-zamora-2021-8"> "dramageddon"</a> in 2018 flashed through my mind, I shuddered and scrolled away.But 10 minutes later, TikTok showed me yet another livestream: this one from OG beauty YouTuber <a target="_blank" href="https://www.businessinsider.com/youtuber-tati-westbrook-life-career-story-2020-11">Tati Westbrook</a>, who attempted to sell me a hair curler — a far cry from the cult-favorite<a target="_blank" href="https://www.businessinsider.com/tati-westbrook-new-makeup-brand-2019-10"> eyeshadow palette</a> she created in 2019 — through the small screen.I shouldn't have been surprised to see either peddling products. Influencers have always been, at least to some extent, glorified salespeople. Still, I couldn't help but cringe. Their voices sounded different, like anxious sales reps trying to get my attention. There was a blatant urge to sell, sell, sell.Some millennial-aged viewers shared similar, and often harsher, thoughts."I'm sad. I used to be able to trust all of your reviews because you were doing it for the love of the game. Not commission. ," one person commented on one of Westbrook's TikToks promoting her recent stream."You are getting worse than Kylie Jenner," another person wrote on one of Star's videos. "It's every other day some kind of BS sale or relaunch. I miss the old Jeffree Star, this new desperate JS sucks!!"I was right there with them. Seeing these larger-than-life figures go from the top of the beauty food chain to hosting flash sales QVC-style was jarring. But as I later realized, their tactic is also kind of genius: They're using a free platform to directly sell to consumers while also increasing their brand awareness.<h2 id="a37382ed-7f93-446c-af1a-672ba960b013">YouTubers turned TikTokers</h2>Rewind a few years and beauty influencers dominated the cosmetics industry alongside the audiences they built<a target="_blank" href="https://www.businessinsider.com/youtube-beauty-everything-you-need-to-know-jeffree-james-nikkietutorials-2020-3"> on YouTube</a> — even when their careers were rife with scandal.<a target="_blank" href="https://www.forbes.com/pictures/gjdm45jih/7-michelle-phan-3-mil/">Forbes</a> reported Michelle Phan, who is widely credited as the first internet makeup influencer, as one of the top-earning YouTubers of 2015 with $3 million in annual revenue. Lucrative beauty businesses only exploded from there.YouTuber Jaclyn Hill famously collaborated with Becca Cosmetics on a glimmering highlighter in 2016, bringing the company <a target="_blank" href="https://wwd.com/beauty-industry-news/color-cosmetics/latest-becca-x-jaclyn-hill-collaboration-did-3-5-million-in-sales-with-online-launch-10438768/">$3.5 million</a> in online sales across five hours. Two years later,<a target="_blank" href="https://www.forbes.com/sites/natalierobehmed/2018/12/03/highest-paid-youtube-stars-2018-markiplier-jake-paul-pewdiepie-and-more/"> Forbes </a>said Star reached $18 million in annual earnings — partially because of one of his<a target="_blank" href="https://www.businessinsider.com/jeffree-star-made-20-million-on-eyeshadow-palette-shane-dawson-2019-10"> stand-out products</a> brought in $20 million when it first launched, as Star told fellow YouTuber Shane Dawson.Star then created a collaboration line with Dawson, who's best known for posting controversial comedy sketches and videos exploring conspiracy theories. Before it was released in 2019, Star's team estimated the makeup line would make<a target="_blank" href="https://www.businessinsider.com/jeffree-star-reveals-shane-dawson-palette-could-make-10-million-2019-10"> at least $35 million</a> if<a target="_blank" href="https://www.businessinsider.com/jeffree-star-shane-dawson-makeup-sold-out-2019-11"> it sold out</a>, which it did almost immediately.However, after years of influencer feuds, multiple cancellations, and the pandemic, beauty YouTubers found themselves floundering, Alex Rawitz, the director of research and insights at the influencer-marketing platform CreatorIQ, said.Stars like Charles went from earning tens of millions of views on YouTube videos to just over one million per post, and TikTokkers like <a target="_blank" href="https://www.businessinsider.com/mikayla-nogueira-background-controversy-feud-mascara-2023-1">Mikayla Nogueira,</a> with her nearly 16 million followers, stepped into their spotlights."They used to be at the top of our creator leaderboards, driving the most engagement for brands and being at the forefront of the industry," Rawitz told Business Insider. "They were replaced by people who still did tutorials but were doing very quick cuts and 20-second bite-sized things more adapted for modern attention spans."<div type="image" title="James Charles, Tati Westbrook, Jeffree Star" height="946" width="1887" msid="112708547" hostid="261" sizebytes="98822"></div>Some of YouTube's best and brightest<a target="_blank" href="https://www.businessinsider.com/james-charles-jeffree-star-comeback-canceled-youtube-over-2023-7"> attempted to resurface</a> in 2023, like Charles, who made a splash with a Cosmopolitan cover story, and Star, who opened his combination<a target="_blank" href="https://www.businessinsider.com/jeffree-star-store-grand-opening-review-photos-casper-wyoming-2023-7"> meat and makeup store</a> in Wyoming.But OG beauty influencers really cracked the comeback code when they entered the wild world of TikTok livestreaming, earning them revived reputations and revenue.Star began hosting virtual events on the platform in 2023, and Westbrook hosted<a target="_blank" href="https://www.tiktok.com/@tatiwestbrook/video/7354803488783715627"> her first livestream</a> in April of this year. Fellow beauty YouTubers James Charles and Laura Lee also followed suit. These creators have often taken an interactive sales approach with their streamed events.Star, for example, has hosted makeup masterclasses alongside professional artists so that viewers can learn how to use specific products from his brand, Jeffree Star Cosmetics, and then receive discounts on them via<a target="_blank" href="https://www.businessinsider.com/tiktok-shop-better-at-keeping-customers-than-temu-shein-2024-4"> TikTok Shop</a>.Charles, on the other hand, has focused his efforts on making his brand's cosmetic sponge the <a target="_blank" href="https://www.tiktok.com/@jamescharles/video/7403479049974205727?lang=en">top-selling makeup blender</a> on the platform.Westbrook and Lee have taken a different approach, seemingly partnering with companies to sell products for them on the TikTok commerce platform at discounted rates. Still, they've made their efforts personal.Lee, like Star, has packed orders by hand on camera during their livestreams, and Westbrook has demonstrated the tools and makeup she's promoted on herself.In doing so, Rawitz said that these creators merge the old-school ways of long-form YouTube content with the modern, quick-moving platform of TikTok."They don't necessarily have to learn new tricks or try to adapt with creators who are coming up within the short-form video ecosystem," he said. "Instead, they can have a more discursive stream with their followers where they're talking about whatever comes to mind, talking about their day, but also selling product."<div type="image" title="Influencer Laura Lee hosts a TikTok livestream." height="2600" width="1290" msid="112708545" hostid="261" sizebytes="138176"></div>Star, Westbrook, and Lee all go live at least once a week — with Star often streaming a few times weekly across two accounts: his personal and brand page. And when they do, it can last for hours. A TikTok live on the Jeffree Star Cosmetics page hosted on July 24 lasted around four hours, while Westbrook was live for eight hours straight on July 10.Leah Spector, the director of communications and content at CreatorIQ, said these lengthy livestreams are strategic for earning revenue, maintaining engagement, and attracting new fans."The longer you go live, the more likely you are to capture new viewers throughout," she told BI. "When I see that there's 20,000 people watching a live, I'm like, 'Oh, something interesting must be happening. Let me join in.' It's simply a numbers game of getting more people to join, even if they drop out pretty quickly."<h2 id="a8007cff-9f23-437a-8383-dbe38a08fe16">Influencers don't care if it's cringe — and they shouldn't</h2>Westbrook, in particular, has been inundated with criticism and cringe callouts each time she's promoted her livestreams on TikTok."This feels like HSN," one person commented on her page, while others joked she's in her "QVC era."Influencers, however, seem to be in on the joke. Westbrook posted a video on July 10 poking fun at her livestreams."Clearly, creators don't mind and are leaning into the potential cringiness of the format," Rawitz said. They can do so with the help of longtime fans standing behind them. Mazaiah Hutchinson, a 27-year-old from Pennsylvania, has watched beauty influencers for over a decade. She told BI that, naturally, she's followed stars like Westbrook to TikTok.She views livestreams as a way to connect with her favorite creators and finds the QVC style of selling to be nostalgic."We look up to these creators, so it's really nice to be in their presence," Hutchinson said. "You can send a comment and immediately get a response back. You can actually see in real time what they're doing."In some ways, I understand the appeal.While writing this analysis, I tuned into a livestream hosted on the Jeffree Star Cosmetics account. As random makeup artists loudly did product demos for two hours, I found myself wishing something more exciting would happen — like an appearance from Star himself.<h2 id="e3f6e400-9adc-4054-8222-87334c14392b">Beauty business moves</h2>TikTok livestreaming is a big business with big money attached.ASMR influencer Lucy Davis <a target="_blank" href="https://www.businessinsider.com/how-much-do-tiktokers-make">previously told BI</a> that she earns between $20 and $300 each time she streams, while Jakey Boehm, a TikToker who streams himself sleeping, said he's earned $34,000 in a single month.Rawitz said that while it's unclear exactly how much these beauty influencers are personally earning through these live streams, hosting them has obvious benefits. They have the potential to earn money through products they sell, donations sent by viewers, and new fans who become regular consumers.In the words of one fan who commented on a post from Star: "You bring the beauty, I'll bring the debit card.""If they're devoting this much time to it, then it is likely profitable for them and likely, in the end, profitable for the brand," he said.That's not to mention how crucial TikTok Shop has been to the success of beauty labels in 2024 — especially when influencers promote their products.According to CreatorIQ, Jeffree Star has generated at least $686,298 in<a target="_blank" href="https://www.creatoriq.com/blog/earned-media-value-emv"> Earned Media Value (EMV)</a> for E.l.f. Cosmetics via TikTok this year so far. EMV is a metric used throughout the social media industry — and analyzed with proprietary technology at CreatorIQ —to help determine the value of any creator's social-media content about different brands. Ultimately, the benefit of these lengthy live streams seemingly exceeds profit.Creators who once needed expensive lighting rigs, scandal-proof scripts, and hours to edit YouTube videos can now casually hop on live streams without any of that. Better yet, they can also have employees host for them.Live events, especially those that last hours, aren't always recorded, so the chances of becoming embroiled in a scandal are arguably less likely.But maybe most importantly, beauty influencers no longer need audiences to worship them, watching every clip they post across every social media platform. Instead, they just need us to stick around long enough to make a purchase.

Beauty YouTube creators turned TikTok into QVC

<ul class="summary-list"><li>Beauty brand Youthforia is facing backlash for selling a dark foundation shade comparable to "tar."</li><li>The brand was previously criticized for its foundation range being too light for deeper complexions.</li></ul>When content creator <a target="_blank" href="https://www.tiktok.com/@golloria">Golloria George</a> reviewed Youthforia's Date Night Foundation <a target="_blank" href="https://www.tiktok.com/@golloria/video/7283587716787211551?is_from_webapp=1&amp;sender_device=pc&amp;web_id=7289141024454592043">in September 2023</a>, she highlighted two major problems with the range's darkest shade.First, the beauty influencer noted that the product — and the rest of its then-15-count shade range — was too light for people with deep complexions like hers, which Youthforia CEO Fiona Co Chan <a target="_blank" href="https://www.nbcnews.com/tech/internet/youthforia-criticized-black-influencers-deep-makeup-shade-rcna150044">apologized for at the time</a>.Second, George said the shade was advertised to look much darker on its packaging and in online photos than it applied in real life.So, when Youthforia launched 10 new makeup shades in March, George gave the new darkest option — shade 600 — a chance.But this time, Youthforia's foundation looked too dark, almost like "tar in a bottle," <a target="_blank" href="https://www.tiktok.com/@golloria/video/7363386668264557867?is_from_webapp=1&amp;sender_device=pc&amp;web_id=7289141024454592043">according to George</a>. She proved her point by applying the brand's foundation on one side of her face and solid-black face paint on the other to show how similar they were.She also tried Youthforia's foundation in <a target="_blank" href="https://www.tiktok.com/@golloria/video/7363465609889434926?is_from_webapp=1&amp;sender_device=pc&amp;web_id=7289141024454592043">its second-darkest shade</a>, number 590, which was drastically lighter in tone and also didn't match her complexion."When we say that we want you guys to make shades for us, we don't mean to go to the lab and ask for minstrel-show black," the influencer said in her TikTok review shared on Monday, referencing 1800s theater productions in which actors wore blackface and perpetuated racist stereotypes. "What we mean is to take the browns that you have made, create undertones, and do what you need to do in the lab so it's a darker shade of brown."Representatives for George and Youthforia did not immediately respond to a request for comment from Business Insider. The California-based beauty brand was founded in 2021 and rose to fame after appearing on a 2023 episode of "Shark Tank," during which <a target="_blank" rel="noopener noreferrer" class="c-link c-link--underline" href="https://youtu.be/z7q4UHtn4qM?si=5gHm1h2MJ9P5S4ys">Mark Cuban</a> invested in the brand.The company also became popular on TikTok after its <a target="_blank" rel="noopener noreferrer" class="c-link c-link--underline" href="https://www.forbes.com/sites/forbes-personal-shopper/2023/08/23/youthforia-blush/?sh=252e442c34ce">color-changing blush went viral</a> in September of last year, and its products are now sold at Ulta Beauty. The beauty chain did not immediately respond to a request for comment from BI.<h2>Widespread beauty backlash</h2>Following George's video, beauty fans and creators across the internet have criticized Youthforia and its attempt to make its foundation range more inclusive."Unfollowing because of that malicious attempt at placating black consumers," one person wrote on the brand's Instagram page, where comments are now limited.Beauty YouTuber Jackie Aina also commented "deep heavy spiritual sigh" on George's review, and TikToker and cosmetic developer <a target="_blank" href="https://www.tiktok.com/@thelipsticklesbians/video/7363777532073643307?is_from_webapp=1&amp;sender_device=pc&amp;web_id=7289141024454592043">The Lipstick Lesbian</a> called it a "master class in what not to do when trying to be inclusive." Meanwhile, <a target="_blank" href="https://www.tiktok.com/@javonford16/video/7363463089880075562?is_from_webapp=1&amp;sender_device=pc&amp;web_id=7289141024454592043">Javon Ford</a>, a cosmetic chemist, explained the formulation of different shades in the line and said the darkest one was made with "pure black pigment."George posted <a target="_blank" href="https://www.tiktok.com/@golloria/video/7364077204130565419?is_from_webapp=1&amp;sender_device=pc&amp;web_id=7289141024454592043">another TikTok video</a> on Wednesday, which she captioned: "It's biologically impossible to be PURE black. there is no pigment in this foundation other than pure BLACK oxide. this was not a mistake." <h2>Problems from the start</h2>Weeks before George's TikTok review, Youthforia shared <a target="_blank" href="https://www.instagram.com/reel/C4WOLdzrL90/?utm_source=ig_web_copy_link">a video</a> about its struggles to find someone to model shade 600 of its foundation."We held a casting call open to the public, but didn't have any attendees who showed up that were within the 600 shade range, which is what led to this journey to find a 600 model!" the brand wrote on Instagram.So, Youthforia "street cast" two men and shared a video montage of their impromptu photo shoot.While some people in the comment section applauded the brand for its efforts, other beauty fans didn't believe the makeup matched their skin tones either."Hi! I don't think it matched them that well. Shade 600 seems to have no undertone, but it looks like they had more of a red undertone. In my opinion, I think there should be 2 or 3 shades between 590 and 600! " one person wrote in response to the video.Youthforia has yet to comment on this latest controversy publicly, and its founder has seemingly made her Instagram account private. Beauty brands have widely been working toward becoming more inclusive in recent years.Specifically, Rihanna's Fenty Beauty changed the game with its massive foundation range — it now boasts 51 shades — and the foundation from Halsey's brand About Face has become a new favorite. It offers 45 diverse shades.

A 'Shark Tank' beauty brand was criticized for lacking deep foundation shades. It tried to fix it and made it worse.

<ul><li>The Beauty &amp; Personal Care market is thriving and one of the fastest-growing consumer markets, driven in particular by the Cosmetics and Skin Care segments, as per Statista’s latest report.</li><li>Myntra’s upcoming End of Reason Sale to offer 38,000 styles from over 750 brands in its Beauty and Personal Care segment.</li><li>On course to add 500 more brands and offer 50,000 style options by 2022.</li></ul>Myntra is witnessing strong growth in the Beauty and Personal Care segment on its platform. The category has registered over 2.5X YOY growth on Myntra and is expected to continue the growth momentum into 2022. Myntra is also betting big on the category for the upcoming edition of its marquee biannual event, EORS (End of Reason Sale), slated to be held this month. According to Statista, India's beauty and personal care market, estimated at $25.9 billion in 2020, is projected to reach $32.7 billion by 2023, growing at a CAGR of 8.1 percent. Revenue in the Beauty &amp; Personal Care market amounts to US$22,338 million in 2021. The market is expected to grow annually by 6.95% (CAGR 2021-2026). Beauty &amp; Personal Care is currently the fastest-growing category on Myntra, and is strategically showcased through platforms such as Myntra Studio and M-Live that drive engagement and build salience for brands in the category through DIY videos and live tutorials led by a charter of sought-after beauty influencers. For the upcoming edition of EORS, Myntra is gearing up for its largest-ever edition and in the last few months has added over 50 brands including Dermalogica, Anastasia Beverly Hills, W Beauty, Pilgrim, Swiss Beauty, and Syska Appliances, to participate in its flagship event. With never-before offers on brands, exciting propositions for all first-time beauty and personal care shoppers, and other interesting basket offers, shoppers have a lot to look forward to, in the upcoming EORS. Myntra continues to scale its Beauty and Personal care portfolio and currently houses 750+ brands and 38,000 styles, of which 400 brands and 15,000 styles were added this year alone. The emerging go-to BPC destination is aiming at adding another 500 brands in 2022, taking the total number of options to 50,000 styles. Myntra is witnessing a steady 3X increase in basket size. Myntra’s 15-day return policy has also enabled its consumers to have a smooth and hassle-free buying experience. In addition to this, the category is riding firmly on the back of its popular brand campaign led by Bollywood’s style icon, Disha Patani, who is the brand ambassador for this segment on Myntra. On the technology front, features such as AI-powered Skin analyser tool and virtual try-on are enabling consumers to undertake informed buying decisions on the platform. Some of the prominent international and domestic brands that were added on Myntra this year include Benefit Cosmetics, Bath &amp; Body Works, and Kora Organics among others. From a consumer demand perspective, Face Moisturizer, Kajal &amp; Eyeliner, Face Wash &amp; Cleanser and Lipsticks are some of the top selling items. Apart from these, fragrances and appliances, such as trimmers, are also some of the key categories that consumers flank the platform for. The top article types within categories such as make-up, are Lipsticks, Foundation &amp; Primer, Kajal &amp; Eyeliner, Eyeshadow, Highlighter &amp; Blush; Under skincare, the leading products include Face moisturizer, Face Serum, Mask &amp; Peel and Sunscreen; Under haircare, the leading products are, Hair Colour, Hair Oil, Hair Serum, Hair Cream &amp; Mask, while Body Lotion, Body Wash and Body Oil form an integral part of the Bath &amp; Body category. During EORS-15, shoppers can expect Buy 1 Get 1 on select brands and free shipping on orders above Rs 499. Ahead of the event, Myntra has also collaborated with some of India’s favorite celebrities, such as Salman Khan for Frsh, Virat Kohli for One8, and Sara Ali Khan for Maybelline to share special mentions from their social media channels to drive traction for the category.

Exclusive: Myntra to increase its focus on Beauty and Personal category; plans to add 500 brands and 50,000 styles by 2022

<ul class="summary-list"><li>Personalized skincare is popular with consumers who want convenient, suitable products. </li><li>Data-driven solutions for skin concerns can help customers see effective outcomes quicker.</li><li>AI can also help dermatologists detect skin abnormalities earlier than normal.</li></ul>Personalized skincare represents <a target="_blank" href="https://www.fortunebusinessinsights.com/beauty-and-wellness-products-market-108456">one of the fastest growing segments</a> of the beauty and wellness industry. In fact, a February report from Grand View Research estimates that the market will be <a target="_blank" href="https://www.grandviewresearch.com/industry-analysis/personalized-skin-care-products-market-report?utm_source=prnewswire&amp;utm_medium=referral&amp;utm_campaign=FMCG_22-Feb-23&amp;utm_term=personalized_skin_care_products_market_report&amp;utm_content=rd">valued at $48.65 billion</a> by 2030.Although consumers are buying into personalized skincare — which refers to products that are tailored to individuals based on their beauty goals, skin composition, age, and other factors — many struggle to find cosmetics that actually work for them.But emerging technologies like AI and 3D printing are helping create custom skin regimens that reduce the time spent searching for the perfect cleanser, moisturizer, or serum.They're also bridging the accessibility gap to more easily provide personalized recommendations to consumers who can't find or afford a nearby dermatologist.<h2>Tech can empower consumers to find effective products</h2>Consumers typically have a basic understanding of which skincare products they should and shouldn't purchase. Someone with sensitive skin, for example, probably shies away from using something with strong fragrances. But the average person doesn't always have the expertise to know what they need without a few rounds of trial and error.Tech-powered personalization is making this process easier."Personalized products for skincare are more beneficial," said Melissa Snover, the founder and CEO of <a target="_blank" href="https://us.get-nourished.com/">Nourished</a>, a nutrition company. She added that expecting everyone within a demographic, such as a certain age or gender, to need the same kind of skincare is "kind of crazy."<div type="image" title="Photo of Melissa Snover, who has blonde hair and is wearing glasses. She is holding a small gummy vitamin toward the camera." height="1500" width="3000" msid="105240630" hostid="261"></div>Nourished partnered with Neutrogena earlier this year to create personalized skincare supplements, called Skinstacks.To get their personalized Skinstack, users can scan their faces using the <a target="_blank" href="https://skin360.neutrogena.com/">Neutrogena Skin360 application</a> on the company's website. The scan works by taking 100,000 skin pixels and registering over 20,000 different facial and skin attributes, Snover said.Once the scan is complete, AI uses dermatologist-analyzed photos to apply a score to the skin, based on factors like radiance level, wrinkles, blemishes, and more. From there, customers take a short quiz about their lifestyle and the site recommends a custom 3D-printed gummy that contains seven nutrients best suited for their skin.Snover said that 3D printers were chosen over traditional manufacturing equipment because the production of single-batch supplements requires small runs with high levels of customization."We want to be a companion for our consumer because it's stressful picking out the products that are right for your skin," said Logan McGill, the global director of skin tech at <a target="_blank" href="https://www.kenvue.com/">Kenvue</a>, the parent company of Neutrogena. "Your skin isn't like your friend's, your mom's, your influencer's."<div type="image" title="Headshot of Logan McGill, who has brown hair and is standing in front of tree roots." height="661" width="881" msid="105240632" hostid="261"></div>The Skinstacks are primarily made of pectin, a gelling agent found in fruits like apples and lemons. The pectin is combined with skin-suited nutrients like selenium, vitamin A, and silica.McGill said consumers are increasingly receptive to data-driven solutions."It's the age of the internet, and data is power," said McGill. "And we're able to give them quantifiable reasons for why a product might work for them."While Neutrogena's Skin360 analysis tool launched in 2018, new AI innovations have made the tool more accessible. The company updated the software this year to integrate skin tone, for example, to ensure consumers get the right recommendations based on their complexion.Snover told Business Insider that this emerging technology can help create a better experience and produce better outcomes for users.<div type="image" title="A woman scans her face on her phone as a digitally inserted scan grid appears." height="800" width="530" msid="105240633" hostid="261"></div><h2>More companies are leaning into custom skincare</h2>Companies that sell more generalized skincare products are hopping on the personalization trend. Cetaphil, a brand popular for its sensitive skincare line, launched its skincare digital-assistant tool and AI skin analysis in March."It's a comprehensive, holistic approach, and really personalized," said Silvina Nordenstohl, the head of Galderma US, Cetaphil's parent company. "Every consumer will go through one unique experience, and we have a unique solution."<div type="image" title="Photo of Silvina Nordenstohl, who is wearing a white sleeveless top and a green patterned skirt." height="3600" width="4800" msid="105240635" hostid="261"></div><a target="_blank" href="https://www.cetaphil.com/us/cetaphil.com/skin-analysis.html">Cetaphil's AI software</a> works similarly by having users snap a selfie and upload their photo to the Cetaphil website. The photo is then assessed based on a database of over 70,000 images, Nordenstahl said. The AI software recommends which Cetaphil products the user should try based on their skin composition.Nordenstahl said she believes consumers are responding positively to the emerging technology because it makes it easier for them to take care of their skin in the best way possible.<div type="image" title="A woman looks at an AI-scanned image of her face as it detects skin qualities and features" height="495" width="566" msid="105240636" hostid="261"></div>Neutrogena's Skin360 tool can also be used to find recommendations based on the brand's products. McGill said that these tools can reduce the amount of time customers spend searching for their perfect product."Tools like this can help you stand at that shelf and realize which products will work for your skin," McGill said.<h2>Tech-driven skincare personalization helps dermatologists, too</h2>AI and information technology also has the potential to help dermatologists better serve their patients.Dermatologists are largely concentrated in urban areas and well-resourced communities, leaving people in many rural regions without access to skincare professionals. Moreover, the US is facing <a target="_blank" href="https://www.aad.org/dw/monthly/2021/december/feature-running-dry">a shortage of dermatologists</a> to care for an aging population.Dr. Scott Walter, a dermatologist based in Denver with over <a target="_blank" href="https://www.tiktok.com/@denverskindoc?lang=en">1 million followers on TikTok</a>, told BI that dermatologists can leverage AI to see more patients quickly.<div type="image" title="Photo of Dr. Scott Walter, wearing light blue scrubs and a white coat." height="1093" width="1457" msid="105242920" hostid="261" sizebytes="32616"></div>"AI is definitely here and came in with a bang," Walter said. "Because dermatology is such a visual field and can be very image-based, I think there's a huge potential for it."Primary-care physicians without advanced dermatology training can input photos of their patients' skin irregularities into AI software that has been trained on a large database of benign and malignant skin lesions, Walter said. Physicians can triage which patients have an irregularity that might be a symptom of a more serious condition.Because AI can recognize skin qualities like redness, brown spots, or pigmentation, Walter also said the technology could help dermatologists tell patients which products they should and should not be using and create a personalized routine.<h2>Using technology in skincare comes with a caveat</h2>Still, as the industry continues adopting new AI technologies, Walter warned against over-relying on the software, because it can still make mistakes.For example, when a ruler is included in the picture of a skin abnormality for scale, AI might identify the lesion as malignant when it's actually benign, Walter said. The tool needs to be trained using a more expansive image database, he added.Despite its drawbacks, experts like Snover and Walter said that information technology has the potential to help consumers become more knowledgeable about their skin and purchase products accordingly."All kinds of tech-empowered health solutions are trained to make that kind of expertise more accessible to the average consumer so that they can also educate themselves while getting products, which are going to result in the outcome that they're looking for faster," Snover said.Correction: November 15, 2023 — An earlier version of this story misspelled Dr. Scott Walter's name. It is Walter, not Walker.

Beauty brands are combining AI and 3D-printing tech to make personalized skincare products that target your specific needs

<ul class="summary-list"><li>In February, <keyword id="19979673" type="General" weightage="20" keywordseo="Chanel" source="keywords" meta.keywordsubtype="org" meta.entityname="Chanel" meta.hostid="261" meta.entityid="Chanel">Chanel</keyword> opened a watches and fine jewelry boutique on Fifth Avenue in New York City.</li><li><keyword id="2626762" type="General" weightage="20" keywordseo="peter-marino" source="Orion">Peter Marino</keyword> designed the store with nods to <keyword id="21401692" type="General" weightage="20" keywordseo="coco-chanel" source="keywords">Coco Chanel</keyword> in mind. </li></ul>As I walked down Fifth Avenue, I was surrounded by the hustle and bustle I've come to expect from one of the most famous streets in New York City. Home to an abundance of luxury stores like <a target="_blank" href="https://www.businessinsider.com/meghan-markle-favorite-restaurants-bergdorf-goodman-photos-2023-3">Bergdorf Goodman</a> and <a target="_blank" href="https://www.businessinsider.com/list-top-watch-brands-in-silicon-valley-tech-elite-2023-7">Tiffany &amp; Co.</a>, the avenue is constantly flooded with shoppers from far and wide, and the day I headed to see one of its latest additions was no different. My destination was Chanel's watches and fine jewelry flagship, dedicated to exclusive and vintage jewelry from the brand. According to <a target="_blank" href="https://robbreport.com/style/watch-collector/chanel-opens-first-watch-and-jewelry-nyc-boutique-1235502214/">Robb Report</a>, it's only the fourth <keyword id="21401691" type="General" weightage="100" keywordseo="Chanel-store" source="keywords">Chanel store</keyword> in the world like it, and renowned architect Peter Marino designed the boutique. <a target="_blank" href="https://www.businessinsider.com/chanel-ceo-trailblazer-every-job-leena-nair-2023-8">Chanel</a> celebrated its grand opening with a star-studded event in February, joining other luxury brands like Saint Laurent and Gucci's parent company Kering in <a target="_blank" href="https://www.businessinsider.com/luxury-brands-billion-dollar-investment-real-estate-retail-store-shopping-2024-4">investing in physical retail spaces for high-end clientele</a>. I wanted to see what the boutique was like without all the celebrity glitz and glamour, so I used a free Monday to head to the store. <div type="image" title="A Chanel store in New York City." height="2667" width="2000" msid="109511697" hostid="261"></div>It was hard to miss the two-story boutique thanks to its asymmetrical checkerboard look made of black and textured gold paneling in massive windows. Jewelry sat on busts in the bottom corner under a gold <a target="_blank" href="https://www.businessinsider.com/signs-hermes-bag-fake-purse-resale-counterfeit-2024-2">Chanel</a> sign. The store looked luxurious even from a distance, and I felt eager to go inside after I spotted it. <div type="image" title="A close-up of the window display at Chanel." height="2546" width="2000" msid="109511699" hostid="261"></div><h2>Stepping inside was like being transported to another world</h2>When I entered the store, the sounds of chattering tourists and honking cars immediately disappeared. Two doormen lingered by the entrance while several other employees waited nearby to assist shoppers. An employee immediately welcomed me inside as I took in my surroundings, and when I asked for a tour of the space, he seemed more than happy to help. The boutique was mostly empty, with just a few shoppers milling around and another sitting with an employee discussing watch options. I got the impression most people came to the store with an appointment in place, though the workers I interacted with were welcoming of me even though I didn't have one. The exterior color scheme continued inside, with black floors, gold walls, and rugs blending both colors. The ceilings stretched high, adding to its spacious feel that contrasted with the stores I typically frequent in New York. <div type="image" title="Anna Weyant and Eileen Kelly at the opening of Chanel's Watches &amp; Fine Jewelry store in February 2024." height="3000" width="2000" msid="109511701" hostid="261"></div>Between the gold detailing and sparkling chandeliers, I felt like I had stepped inside a bottle of Chanel No. 5 as I wandered through the store. Every inch of the place seemed to sparkle. The boutique's distinct scent helped to create the perfume bottle illusion, which an employee told me was unique to the store and couldn't be bought. Marino told <a target="_blank" href="https://www.hollywoodreporter.com/lifestyle/style/chanel-watch-jewelry-flagship-store-new-york-1235819710/">The Hollywood Reporter</a> that texture and luxury were crucial to the store's aesthetic. "Everything is tactile and gold and special; even the carpets are three-dimensional, a mixture of silk and wool, while the stucco texture on walls was made with people's hands — including my own, you'll find that in the elevator," he told the outlet. Marino also looked to <a target="_blank" href="https://www.businessinsider.com/signs-hermes-bag-fake-purse-resale-counterfeit-2024-2">Coco Chanel's</a> interior design aesthetic for the store's design, which blended the simplicity of black and white decor with "ornate Venetian mirrors," he said to The Hollywood Reporter. <h2>The boutique emanated luxury</h2>As an employee showed me around, my eyes were drawn to the jewelry arranged in free-standing cases and glass displays built into the walls of the store's first floor, which was split into three spacious rooms. Of the three rooms on the main floor, one held watches, one had more accessible pieces from Chanel's jewelry line, and the third held rarer pieces from its collection. Workers were waiting to help shoppers in each room, and they all offered me a friendly greeting as I walked by them. <div type="image" title="Amandla Stenberg at the Chanel Watches &amp; Fine Jewelry opening in February 2024." height="3000" width="2000" msid="109511702" hostid="261"></div>The space felt more like a cozy gallery than a store. Bottles of Chanel No. 5 were displayed alongside jewelry pieces, some of which aren't for sale. According to <a target="_blank" href="https://www.wmagazine.com/fashion/chanel-watches-jewelry-store-new-york-fifth-avenue">W Magazine</a>, several historic Chanel pieces are currently exhibited in the boutique, like the 55.55 necklace. I was reminded of hours spent at museums with priceless art as I took it all in. The second floor featured private VIP rooms where buyers could meet with Chanel staff for more intimate appointments. They were just as lush as the first floor, with built-in TV screens for remote meetings and plush furniture. As I turned to walk back downstairs, a group of shoppers were settling into one of the rooms with an employee, appearing at ease in the luxe space. I didn't know if they were used to being in high-end stores or if the staff just made them feel comfortable, but I could see either being true because the space was somehow both luxurious and inviting. Chanel's careful curation of its new space — from a custom scent and attentive staff to the shades of gold bathing the property — made it feel comfortable and inviting. Visiting Chanel's watches and fine jewelry boutique is an experience, which you just can't get online. So, if you plan to walk down Fifth Avenue anytime soon, it's worth popping into Chanel for the look of the store alone.

I visited Chanel's watches and fine jewelry boutique in NYC and saw why the brand is betting on in-person shopping

Donald Trump is running for president for the third time. Here's the lowdown on his personal life, career, and politics.

<ul class="summary-list"><li>"Arcane," a television adaptation of Riot Games' "League of Legends," is back on Netflix.</li><li>The series was created by Christopher Linke and Alexander Yee, two Riot vets with no TV experience.</li></ul>In 2010, "Arcane" co-creator Christian Linke needed to make a change.The German-born musician had spent years playing bass in the German rock band Panik and working as a songwriter and producer. But by 2010, he was starting to have doubts about the music business — and in turn, the longevity of his career — as he observed musicians using personal computers to produce their own tracks.So he left music, packed up his life, and moved to Los Angeles. When he arrived, he landed a customer support job that he had found on Craigslist. Though he didn't know it at the time, that job set him on a career path that would lead to his first Emmy award 12 years later.The gig was at Riot Games, a young video game company founded in 2006 that had launched its debut title "League of Legends" the year before. These days, "League" is one of the most-played PC games in the world, with Riot announcing it had hit 180 million monthly active players in 2021. But back then, Riot was small, and "League" was still a fresh title. And luckily for Linke, an early "League of Legends" player, it had thousands of unanswered German-language customer support tickets languishing in the queue."Somehow they hired me," Linke told Business Insider. "I think because, of all the people that interviewed, I was the only one that actually spoke German."Fourteen years later, the now-creative director has graduated from answering tickets to running one of TV's most successful video game adaptations. "Arcane," which Linke created with fellow long-term Rioter Alexander Yee, premiered on Netflix in November 2021. By the time its first season finished airing, it had <a target="_blank" href="https://www.businessinsider.com/netflixs-league-of-legends-series-arcane-surges-in-popularity-2021-11">racked up millions of viewing hours</a> and <a target="_blank" href="https://www.netflix.com/tudum/top10/tv?week=2021-11-21">hit No. 1</a> on Netflix's global top 10 English-language television list.It wasn't much of a surprise when Netflix announced it had renewed "Arcane" for a second season the minute season one wrapped. Aside from winning <a target="_blank" href="https://www.emmys.com/shows/arcane">four Emmy Awards</a>, including outstanding animated program, it had <a target="_blank" href="https://www.rottentomatoes.com/tv/arcane_league_of_legends/s01">near-universal critical acclaim</a>. For good reason: its focused, character-driven story and distinct visual identity, courtesy of French animation studio Fortiche, make it accessible and riveting television for newcomers and longtime "League" fans alike.But before the show was a hit, it was a passion project that Linke and Yee started working on in 2015 — one borne out of their tenures at Riot and the relative creative freedom they were afforded during the company's ascension."When we started the project, there was no adaptation that had ever succeeded," Linke told BI of his and Yee's plan to create a series based on the game. "But it didn't really matter because the desire was always very clear. It was like, 'We want this to exist.'"<div type="image" title="jinx in season two of arcane, her hair colored blue and purple and with colorful graffiti behind her. she has on a purple hood with white markings reminiscent of teeth" height="2149" width="2865" msid="115116333" hostid="261" sizebytes="105082"></div><h2 id="3016a99c-a885-4a65-a92c-7c1a760500e3">Linke has worn a lot of hats at Riot and grew his career with the company</h2>When Linke started at Riot in 2010, his remit quickly expanded past customer support. After a stint in the billing department, he eventually moved over to data analysis, working cross-functionally across different teams.But in 2011, he noticed an opportunity for the company to invest more in music projects — think <a target="_blank" href="https://www.youtube.com/watch?v=18yK0G9hHts">character theme songs</a>, <a target="_blank" href="https://www.youtube.com/watch?v=0nlJuwO0GDs">music videos</a>, and "League" inspired bands — and in turn, to leverage his own creative background."No one was asking for it," Linke said, but no one was stopping him either. By 2015, Linke had built a team underneath him, and had proven himself within the company. What he lacked was a challenge.The same was true of Yee, who had pivoted to creative design at the company. Together, after years of playing in different creative sandboxes within the "League" universe, they began conceptualizing the television show that would become "Arcane."It was unprecedented work at Riot, which at the time had yet to expand into any traditional television or film projects."We had to really take baby steps," Linke said. "We had to not just build the creative, but also, the way to convince leaders who have never worked on a TV show and invested in a TV show. So a lot of it was just starting with the basics."<div type="image" title="ekko in season two of arcane, sitting on a hoverboard and holding a golden weapon in his left hand. he's looking forward intently" height="818" width="1091" msid="115116338" hostid="261" sizebytes="24570"></div>That included animation and dialogue tests — "We had never heard our characters talk," Linke said — in addition to crafting the show's story. After about a year and a half of work, the company committed to making a pilot episode in 2016 — and clearly, it worked out well for them in the end.Still, Linke and Yee took risks along the way, chief among them betting on the French production studio Fortiche. Prior to "Arcane," the studio had worked on music videos and promotional materials for Riot and artists like the Gorillaz, as well as some television projects. But none matched the scale of what "Arcane" would become: nine episodes in its first season, animated at a quality reminiscent of film rather than television."People were very concerned about it, but what Fortiche had that you cannot fix with money is passion," Linke said. "I knew they would put their life on pause to make the greatest thing of their career with this project, and I worked with other animation studios where that's simply not the case. It's a gig, but Fortiche had something to prove."<h2 id="78b8acb1-059c-4fb7-8d4e-7f15172f982b">'Arcane' was an expensive labor of love that Riot hasn't yet replicated — but it's a great proof of concept</h2>Nine years after Linke and Yee began to work on "Arcane" in 2015, the series is ending after two nine-episode seasons. The project didn't come without significant expenses: Fortiche's feature-quality animation meant that production moved at a slower pace more typical of animated film rather than animated television.Citing sources familiar with production, <a target="_blank" href="https://variety.com/2024/gaming/news/riot-games-arcane-hollywood-netflix-most-expensive-animated-series-ever-1236196655/">Variety</a> recently reported that the show's first season cost upward of $80 million to make, and its second close to $100 million. (Riot didn't immediately respond to BI's request for comment regarding the reported cost of "Arcane.")Even if Riot doesn't directly turn a profit on the series, that may not be the company's chief goal, anyway. Film and television isn't Riot Games' primary business; video games like "League of Legends" are. A genuinely good television series like "Arcane" not only engages current players who may spend money on in-game cosmetics, but brings new eyes to the franchise. The real-life cosmetics, like the <a target="_blank" href="https://www.businessinsider.com/rihanna-fenty-beauty-netflix-arcane-vault-makeup-collaboration-2024-10">"Arcane" season two drop with Fenty Beauty</a>, probably don't hurt either.<div type="image" title="vi in arcane, the animated series. her pink hair has been colored partially black, and there's black paint smeared over her face with andages. she has a lip and nose piercing, and a tattoo with the roman numeral VI on her cheek" height="2160" width="2880" msid="115116335" hostid="261" sizebytes="103128"></div>"Arcane" remains Riot's shiniest and sole successful adaptation. By putting the first major "League" adaptation in the hands of people who knew it best and cared about getting it right, "Arcane" sets a precedent for how to make something beloved by fans and critics alike. Reportedly steep production costs and a lengthy timeline gave them the time and space to do so — even if, as Linke told <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.washingtonpost.com/video-games/2021/11/06/arcane-netflix-league-legends/">The Washington Post</a> ahead of season one, it meant burning a "massive hole in Riot's wallet."Ultimately, Linke says the show was a product of "selfish desire." The fact that it's motivated by passion, and not pragmatism, is why it's so good."For us, we love the game," he said. "We wanted to see those characters come alive. That's it. That's enough to say this should exist for ourselves.""Arcane" season two, "Act One" is currently streaming on <a target="_blank" class="" href="https://www.netflix.com/">Netflix</a>. Part two premieres on Saturday, November 16.

How a former data analyst turned his 14-year career at Riot Games into 'Arcane,' a beautiful, expensive Netflix hit

<ul class="summary-list"><li>Elon Musk's X lawsuit led to the closure of the Global Alliance for Responsible Initiative.</li><li>Conservatives see this as a win for free speech against liberal media watchdog groups.</li></ul>High-profile conservatives took a victory lap this month after an antitrust lawsuit filed by Elon Musk's X, which alleged an ad trade group and its members illegally conspired to shift dollars away from the platform, resulted in the <a target="_blank" href="https://www.businessinsider.com/ad-group-to-suspend-garm-initiative-following-elon-musk-lawsuit-2024-8">closure of the advertising initiative the Global Alliance for Responsible Initiative</a>.For many of these high-fiving observers, the triumph wasn't merely that GARM — a two-person operation whose mission was to create common definitions around areas like hate speech and misinformation — had been toppled. It was a victory for free speech and, ultimately, a <a target="_blank" href="https://www.youtube.com/watch?v=0kY8BRI0sks">win</a> for right versus left.Since at least the 2016 election of President Donald Trump, conservative outlets have argued that liberal-leaning activists have pressured advertisers to boycott their sites. But the rise of the marketing practice known as "brand safety" hasn't just hit conservative outlets. It's dealt a revenue blow to publishers across the political spectrum.Initially fearful of inadvertently funding hate speech, terrorism, or online piracy, many advertisers' brand safety strategies now involve avoiding news and politics altogether."The left recentered the ad market," said Alex Marlow, the editor in chief of Breitbart News, in a recent <a target="_blank" href="https://www.prageru.com/video/elon-musk-takes-down-garm-and-why-it-matters">video interview</a> with the conservative media and advocacy group PragerU. "The positive, the silver lining, is that they ended up doing far more damage to themselves than they ever did to Breitbart."Now, as advertisers grow evermore fearful of appearing next to anything controversial, many ad industry insiders, as well as publishers on both the left and right, feel there's something fundamentally broken about the system."Whether you're X, or a liberal publisher, or <a target="_blank" class="" href="https://digiday.com/marketing/lawsuits-against-garm-call-into-question-the-politics-behind-brand-safety/">News Corp</a>., this thing just got out of hand," said Mark Penn, chief executive of the marketing company Stagwell Group.<h2 id="f94af8c2-5ed7-4b52-b6ef-69597c952279">The shift from advertising across 20 publishers to 44,000</h2>It wasn't always this way.When Rishad Tobaccowala, a former top Publicis Groupe executive and <a target="_blank" class="" href="https://rishadtobaccowala.com/bio">40-year ad industry veteran</a>, first began buying advertising in the 1980s, there were only around 20 media owners to purchase from, across TV, radio, print, and billboards.With a limited number of outlets, mostly producing professional content, controversies about ad placements were rare. If problems did arise, there'd be a person at the end of the phone to negotiate with."The biggest thing there was airlines taking down all their advertising if there had been an air crash," Tobaccowala said.The landscape today is dramatically different. Marketers now spend the majority of their budgets on digital advertising, and the average campaign runs across 44,000 websites, according to a December study from the Association for National Advertisers. Marketers don't self-select these websites, but instead instruct their ad vendors to target specific audiences, wherever on the web they may be browsing.It opened up a world where every ad impression was treated equally, regardless of where it appeared. As the use of automated ad buying grew, major advertisers began finding their ads in the murkiest corners of the web — porn sites, illegal torrenting services, videos depicting gratuitous violence, and more.This led to the rise of the brand safety industry. Companies promised to reduce marketers' risk by using software to scan a webpage's content and prevent their ads from appearing on anything unsuitable. Marketers created blacklists of sites they wanted to avoid and whitelists of sites they approved.But it wasn't until Trump's 2016 election that brand safety really entered the mainstream marketing vernacular — and the culture wars.<h2 id="63a5328f-ca44-4476-9d6f-d1c6e2f8aeaf">Sleeping Giants, YouTube advertiser boycotts, and the rise of keyword blocking</h2>"@sofi Are you aware that you're advertising on Breitbart, the alt-right's biggest champion, today? Are you supporting them publicly?" read the first tweet of Sleeping Giants, a then-anonymous social-media account in November of 2016.Sleeping Giants soon morphed into an <a target="_blank" class="" href="https://www.businessinsider.com/execs-solving-digital-advertising-problems-2018-8#matt-rivitz-and-nandini-jammi-freelance-copywriters-who-run-the-twitter-account-sleeping-giants-18">activist organization</a>, encouraging its ballooning Twitter following to pressure companies to stop advertising from other conservative outlets, such as Fox News' "Tucker Carlson Tonight" and "The Ingraham Angle," having accused them of peddling misinformation and hate speech.<div type="image" title="Tucker Carlson" height="1540" width="2836" msid="112840629" hostid="261" sizebytes="110448"></div>At around the same time, YouTube was facing a major advertiser boycott after a series of news investigations found their ads appearing alongside videos containing hate speech and terrorist content.The furor put marketers on high alert, terrified of an embarrassing screenshot that could land their brands in front-page news articles about funding extremism. Enter the brand safety industrial complex, which offered to quell CMO anxiety with sophisticated technology that promised to save their blushes. Platforms like Google and Facebook partnered with those firms and offered advertisers sharper brand safety controls.With each news cycle, advertisers added new terms to keyword blocklists, designed so their ad campaigns would avoid articles about uncomfortable topics. It presented a difficult paradox for publishers: High-traffic news cycles like the <a target="_blank" class="" href="https://www.businessinsider.com/integral-ad-science-doubleverify-help-brands-avoid-coronavirus-news-2020-3">COVID-19 pandemic</a> and <a target="_blank" class="" href="https://www.businessinsider.com/advertisers-are-avoiding-hard-news-during-russia-ukraine-war-2022-2">Russia's invasion of Ukraine</a> resulted in <a target="_blank" href="https://digiday.com/media/publishers-continue-to-see-coronavirus-coverage-blocked-by-advertisers/">ad revenue plunges rather than the expected spikes</a>.The topics getting blocked have sometimes reached absurdist levels. In April, Time CEO Jessica Sibley revealed that its Taylor Swift "Time Person of the Year" cover feature was deemed brand-unsafe because it contained language related to feminism and Swift's album "The Tortured Poets Department."<div type="image" title="Taylor Swift singing into a mic and wearing a white high-low gown onstage at the Eras Tour." height="2570" width="3427" msid="112840643" hostid="261" sizebytes="254122"></div>All this, and heavy competition from social-media giants and others, has contributed to a challenging ad market that has left the news industry scrambling. In 2023, more than 21,400 jobs were cut in the US media industry, according to the employment agency Challenger, Gray &amp; Christmas.<h2 id="e4ed5fc3-fd97-458a-a611-b9189cba3920">'You can't force brands to change their risk profile'</h2>Some advertising insiders say that while the concept of brand safety is sensible, the efforts have become too focused on policing what content ads appear next to (known in the industry as "content adjacency").When Mark Penn became Microsoft's chief strategy officer in 2014 and took on responsibility for its $2 billion ad budget, he was surprised that many companies shied away from advertising on news sites. He rejiggered the media plan and found that ads on news sites actually performed best for technology companies, as readers used them for research.<div type="image" title="mark penn" height="683" width="1024" msid="112840639" hostid="261" sizebytes="44626"></div>Penn is now the CEO of the marketing group Stagwell, which this year published a study that indicated the type of story an ad was placed next to didn't appear to affect the reader's favorability toward the brand. (Business Insider participated alongside other publishers with Stagwell's study by giving it access to the company's articles and some free advertising space, but otherwise had no influence over its process or findings.)"We don't want to be in the position of demonetizing one perspective or another," Penn said. "We want advertisers to feel like it's part of their civic responsibility to be advertising behind all perspectives."But some industry experts think it's too late to put the "content adjacency" genie back in the bottle."You can't force brands to change their risk profile," said Richard Raddon, CEO of Zefr, a software company that assesses brand suitability within content on platforms like YouTube, TikTok, Facebook, and connected TV. "No matter how much you pound your fist on the table saying that brands shouldn't care what they're adjacent to, it's just not going to change."<h2 id="50d9a7c4-5db5-4002-bebf-04e42953869f">A divisive election year and a challenging future for news brands</h2>Publishers are attempting to diversify through subscriptions, optioning their content for film and TV, launching commerce and events platforms, and signing AI licensing deals. But for most media companies, advertising remains the biggest source of income.Ben Shapiro, cofounder and editor emeritus of The Daily Wire, said he has proposed to some advertisers that they buy a mutual fund of advertising, where their ad dollars are split between shows like his on the right and podcasts like "Pod Save America" on the left."If you're an advertiser and want to advertise across a broad range of political shows that you think are not obviously violative of your core principles, then I think that also happens to be a pretty good defense" against online criticism and groups that advocate boycotts, Shapiro said.<div type="image" title="Ben Shapiro headshot" height="1000" width="1000" msid="112840634" hostid="261" sizebytes="35210"></div>"I think that would also be, by the way, a good way of helping the news industry generally. I think that would be good for debate. I think it's good for the public discourse in general," he added.(The Daily Wire is a joint plaintiff on an <a target="_blank" class="" href="https://news.bloomberglaw.com/litigation/daily-wire-censorship-claims-survive-against-state-department">active lawsuit</a> — alongside the State of Texas and The Federalist — that accuses the US Department of State of funding news rating and disinformation technologies they say censored conservative news.)In a highly charged US election year, marketers are more risk-averse than ever, especially when it comes to culture-war topics.Tractor Supply, John Deere, and Harley-Davidson <a target="_blank" class="" href="https://www.cnn.com/2024/08/19/business/harley-davidson-dei-john-deere-tractor-supply/index.html">recently ended</a> their diversity, equity, and inclusion initiatives after coming under activist pressure. And who can forget the image of Kid Rock shooting Bud Light cans with a rifle after the beer brand featured a transgender influencer in one of its social-media posts? A huge boycott of the brand saw Bud Light slip from being the top-selling beer in America to the No. 3 spot in the space of months.<div type="image" title="Bud Light beer bottles and Dylan Mulvaney" height="3000" width="3000" msid="112840641" hostid="261" sizebytes="252998"></div>"When I was working with clients and brands the people who were running marketing and advertising tended to be true decision makers and said, 'This is what we think,'" Tobaccowala said. "Now most people are really scared for their jobs, so their whole stance is, 'I'm not going to take a point of view on anything.'"The result, Tobaccowala fears, is a further winnowing of the media industry where only the biggest platforms and individual content creators survive."The ecosystem will look like whales and plankton," Tobaccowala said. "They feed off each other, but anyone in between won't have a future."

Brands are so scared of culture wars and controversy that it's ripping apart the media business

This article is part of "<a target="_blank" href="https://www.businessinsider.com/build-it-series">Build IT</a>," a series about digital-tech trends disrupting industries.Generative AI is on the tip of everyone's tongue this year, and marketers are eager to embrace it. In a survey from Salesforce, <a target="_blank" href="https://www.salesforce.com/news/stories/generative-ai-for-marketing-research/">51% of marketers said they were using generative AI</a>, with another 22% saying they planned to do so. The benefits could be significant: McKinsey has projected that generative AI could <a target="_blank" href="https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/how-generative-ai-can-boost-consumer-marketing#">increase marketers' productivity</a> by 5% to 15%, adding up to $463 billion in value annually.The financial upside of adopting generative AI in marketing and sales is pushing companies to rapidly adopt it. Understanding how AI works and how to deploy it is now a focus of many marketers.The focus is driven by a desire to deliver more-personalized messages that encourage consumers to buy. Self-preservation is a motive, too: Developing AI proficiency could help bolster job security, as some marketers worry the technology might replace them if their expertise doesn't evolve."For those who are jumping on the bandwagon and really understanding it works, it gives them a competitive advantage," Tom Krutilek, the chief marketing officer at the fintech marketplace InvestHub, told Business Insider.<h2>AI can enable personalization at scale</h2>InvestHub, founded in 2021, aims to help startups raise capital by matching them with investors. While the goal is as old as markets themselves, InvestHub is taking a novel approach: It's constructing an AI-powered platform designed to use data about startups, such as the industry a company is in and the size of the investment it needs, to connect them with befitting investors. It works in reverse, too, helping investors find startups that align with their interests. "Personalization is important to us," Krutilek said.Krutilek also uses AI internally to conduct market research that could help the company attract clients — and tweak its marketing for different audiences. "We have to ask, how do we speak to the CTO or the person in charge of revenue operations?" he said. "That's different from how we speak to a venture capitalist."This isn't to say InvestHub uses AI to generate marketing copy and ships it as is. Krutilek described AI as a "starting point for our team." It can suggest an effective marketing message, but his team still needs to "add the human touch" by determining whether the AI's suggestions are suitable and making the call on which marketing strategy to pursue. Marketers can also use AI's efficiency to deploy personalized messages at scale. Bob Hutchins, the founder of the AI marketing consultant Human Voice Media, said long-tail marketing content, like product description pages, or PDPs, was ripe for disruption.PDPs are a critical component of modern e-commerce marketing strategies. If you search for a product on Google or Bing and then click on a link, or if you click on a product recommendation on Instagram or TikTok, the page you'll land on is most likely a PDP.Ideally, PDPs should be personalized; a recently retired 65-year-old in Arkansas is likely to have different priorities than a 20-something student in Spain, and a product page should reflect that. But in practice, this type of personalization is unwieldy, since it involves creating numerous iterations of one product page. Many e-commerce sites find that task beyond what even a well-staffed marketing team can handle, but AI could change the equation."If I want to add 5,000 products next quarter, who is going to write that? Who is going to make sure it follows brand guidelines?" Hutchins said. "If AI can reduce what would take three or four months down to a few days, then all of a sudden that changes the economics of my business."As marketers become more experienced in using AI, Hutchins said, more companies will be able to tap into real-time analytics and personalization that present customers with buying suggestions based on their shopping history with the company.<h2>Authenticity with AI means using it in the right place at the right time</h2>AI's promise of efficiency is clear, but marketers often find their attempts to deliver personalized messages stymied by the industry's <a target="_blank" href="https://www.forbes.com/sites/forbesbusinesscouncil/2023/01/09/authenticity-in-marketing-why-brands-must-lead-with-why/">most prolific buzzword: authenticity</a>. While marketers dream of AI-driven personalization, consumers say they like brands that feel more human.Uber Eats found itself on the wrong side of this problem in December. A person on X found that the Uber Eats page of one pizza restaurant in New York, where pizzas are often called pies, had appeared to replace blank menu images, which can sink sales, with AI-generated images of thick, bready pastries filled with odd meats.But Greg Kihlström, the owner of the marketing consultancy The Agile Brand and an instructor at the Association of National Advertisers' School of Marketing, is skeptical that authenticity will prove a barrier for long. "Consumers are pretty pragmatic about a lot of things," he said. Kihlström and Hutchins argued that if brands ensure their AI's results are accurate and follow the brand's marketing guidelines, consumers are unlikely to object to the AI or, in many cases, even notice when it's used.Research seems to support this belief. A <a target="_blank" href="https://www.sciencedirect.com/science/article/abs/pii/S2772766123000289?dgcid=author">study published in December</a> found that even trained linguists had difficulty distinguishing text generated by AI from text written by a human. Other studies have found that, in many situations, <a target="_blank" href="https://link.springer.com/chapter/10.1007/978-3-031-50072-5_34">people can't tell AI-generated images from real photos</a>.While Kihlström advised marketers to remain mindful of AI's nuances and limitations, he said that "if it serves a practical need, I don't think most consumers, in a year or two, are going to care." But he added that there were still "many years to go" before AI could create something like a sentimental Super Bowl ad.<h2>Will AI replace marketing jobs?</h2>While some marketers wonder how consumers will react to AI, many fret about something closer to home: their jobs.Kihlström said industry professionals were worried that AI might reduce or eliminate the need for certain roles — fears that go hand in hand with the technology's promise of efficiency."The senior-level marketers are less concerned about losing their jobs, but they are worried about getting headcounts cut," he said. "Because their bosses are saying, 'If 30% of anybody's job can be replaced by AI, let's cut 30% of the workforce.'"Marketers with creative tasks might be the first to feel this pain. "The lowest-hanging fruit is obviously content creation," Hutchins said. He recommended companies looking to get started with AI in marketing take a hard look at repetitive creative tasks, like writing and editing ad copy, that generative AI could handle.Opinions vary, however, and Krutilek was optimistic about marketing's future. "I don't think it's going to change the number of jobs," he said of AI, though he added that he thinks marketers with AI experience will have an indispensable, advantageous skill set.Krutilek said AI had radically changed how he incorporated market research into positioning InvestHub against its competitors. He said he could now knock out in a few hours a competitive analysis that once required a solid week of research.It's not just analysts who benefit. He said AI tools let creative-team staffers more quickly imagine and iterate on assets like graphics for a marketing campaign. The time saved could be used to consider a greater number of creative assets or to scrutinize a creative strategy."Before AI, it was like, 'How can I minimize? I only have X staff and X capability and X budget,'" Krutilek said. "But what it's allowing me to do is really hone in on which tactics will work for us and how we can make them better."

AI is ushering in a new era of personalized marketing

<ul class="summary-list"><li>Bernard Arnault's net worth has soared by $24 billion in four days to $201 billion.</li><li>The LVMH CEO is set to leapfrog Mark Zuckerberg and become the world's third-richest person.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth">Bernard Arnault</a> has grown $24 billion richer in four days — and looks set to overtake Mark Zuckerberg as the world's <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-wealth-billionaires-net-worth-meta-ai-musk-bezos-2024-9">third-richest person</a>.The luxury tycoon's fortune ballooned from $177 billion to $201 billion between Monday and Thursday. The surge was fueled by a 13% rise in shares of LVMH, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/china-economy-stimulus-bernard-arnault-6-billion-richer-lvmh-stock-2024-9">galvanized</a> by China outlining a raft of measures to stimulate its ailing economy this week.Shares of LVMH — <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-brands-iconic-luxury-goods-bernard-arnault-2019-10">home to around 75 brands</a> including Dior, Sephora, and Tiffany &amp; Co. — climbed another 2% on Friday morning after the company announced its purchase of an indirect stake in Moncler, the Italian label famous for its ski jackets.Arnault, LVMH's founder and CEO, is now poised to leapfrog <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg">Zuckerberg</a> on the rich list. That's assuming Friday's stock move holds and the Meta CEO, worth $202 billion at Thursday's close, doesn't notch a significant wealth gain before the weekend.The "Wolf in Cashmere" has seen quite the turnaround in his fortune. He was the <a target="_blank" class="" href="https://www.businessinsider.com/bernard-arnault-lvmh-worlds-richest-person-overtakes-jeff-bezos-2024-3">richest person on the planet</a> with a $231 billion net worth in late March. But his wealth <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-bernard-arnault-wealth-rich-list-billionaires-luxury-musk-bezos-2024-9">crashed by $54 billion</a> over the next six months to $177 billion last week, landing him in fifth place on Bloomberg's list.His massive gain over the last four days has propelled him into fourth place, with a $20 billion lead over Oracle cofounder <a target="_blank" class="" href="https://www.businessinsider.com/larry-ellison">Larry Ellison</a>, who is <a target="_blank" class="" href="https://www.businessinsider.com/larry-ellison-oracle-wealth-tesla-stock-billionaires-rich-list-ai-2024-9">worth $181 billion</a>.Arnault's wealth decline this year has also shrunk from $30 billion to below $7 billion at Thursday's close. He's now the fourth-biggest wealth loser among the world's 500 richest people, instead of no.1 on the unflattering list.Even so, Arnault remains the only one of the top 18 wealthiest individuals who's seen their net worth drop this year: all of the others are up at least $17 billion and as much as $73.5 billion in <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-meta-net-worth-wealth-rich-list-musk-bezos-2024-9">Zuckerberg's case</a>.The decline in LVMH stock this year has narrowed from about 20% to 5%, meaning it's no longer languishing at a two-year low. Arnault and his family own about 245 million shares, or about 49% of the company, a July filing shows.The beauty and fashion powerhouse has faced pressure on its revenues and profits this year, with Arnault warning of economic and geopolitical uncertainty in its second-quarter earnings release. That's especially true in China, a key market for LVMH, which garners about 30% of its sales from Asian countries excluding Japan.The stock has rallied this week as <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/china-stock-market-rally-economy-stimulus-liqudity-overwhelm-system-2024-9">investors wager</a> China's stimulus measures — which <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9">could include</a> rate cuts, liquidity support, reduced bank reserve requirements, and a stock stabilization fund — will juice demand for high-end items such as Louis Vuitton handbags and Dom Perignon Champagne.

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