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How many times have you stared at your (sometimes overflowing) wardrobe in horror and yelled “I have nothing to wear”? Speaking for myself when I say this: way too many times. Have I bailed on plans for this reason? Also yes. And this is why when I first came across <keyword id="23077982" type="General" weightage="100" keywordseo="Slikk" source="keywords">Slikk</keyword>, I was more than a little intrigued. “If you can have groceries delivered to you in a few minutes, why shouldn’t the same apply to clothes?”, the app’s advertisement taunts. Slikk promises to deliver clothes in just 60 minutes in <keyword id="19895037" type="General" weightage="20" keywordseo="bengaluru" source="keywords">Bengaluru</keyword>, where it already operates. Today’s <keyword id="20246469" type="General" weightage="20" keywordseo="GenZ" source="keywords">GenZ</keyword> and young millennials are highly impulsive shoppers, making them a key target group for <keyword id="23077981" type="General" weightage="20" keywordseo="fast-fashion-brands" source="keywords">fast fashion brands</keyword>, says founder <keyword id="23077987" type="General" weightage="20" keywordseo="akshay-gulati" source="keywords">Akshay Gulati</keyword>. Their impulsiveness is fueled by the constant influx of new trends and designs, alongside faster delivery options. Slikk aims to address this by offering fresh collections from emerging fast fashion brands every week, along with a <keyword id="23077983" type="General" weightage="20" keywordseo="60-minute-delivery" source="keywords">60-minute delivery</keyword> window, providing a unique shopping experience compared to traditional fashion platforms, he adds. He did not have to call us out like that. <div type="Article" hostid="261" msid="112681980" title="Online vendors generated 15.8 million jobs in India: e-commerce report" mstype="2" mssubtype="0"></div>Anyways, I wasted no time in downloading the app and picking out some pieces of clothing. While the sizing charts weren’t as detailed as I would’ve liked and there weren’t too many options to choose from, it seemed to do the job — considering the <keyword id="19913824" type="General" weightage="20" keywordseo="startup" source="keywords">startup</keyword> began operating only recently. But what really caught my attention was that not only did Slikk offer a 7-day return, it also had a “Try and Buy” option. Here, the user would have to pay Rs 50 in addition to the standard delivery fee and Slikk’s delivery executive would wait for 10 minutes at your doorstep so you could try on the products and return what wasn’t to your liking immediately. Pretty neat, no? However, my love affair with Slikk ended sourly almost as soon as it began. After I’d added some pieces of clothing, selected the “Try and Buy” option and applied the first-timer discount coupon, it wouldn’t let me make the payment. I tried selecting both — the Cash on Delivery and Online Payment modes — several times. But the page wouldn’t budge. I even tried using the website, in case there was a glitch with the app, but that didn’t work either. While I was a little disappointed, the experience gave me the impression that Slikk needs a little more time to optimise its user interface and maybe collaborate with more brands before I can start relying on it as a chronic last-minute shopper. Meanwhile, reports suggest that Slikk has already raised $300K in its pre-seed round led by <keyword id="23077985" type="General" weightage="20" keywordseo="Better-Capital" source="keywords" meta.keywordsubtype="org" meta.entityname="Better Capital" meta.hostid="261" meta.entityid="Better Capital">Better Capital</keyword>, with participation from <keyword id="23077986" type="General" weightage="20" keywordseo="Untitled-Ventures" source="keywords" meta.keywordsubtype="org" meta.entityname="Untitled Ventures" meta.hostid="261" meta.entityid="Untitled Ventures">Untitled Ventures</keyword>. The startup will be using the sum to scale to over 100 brands, a dark store — a retail outlet or distribution centre that exists exclusively for online shopping, and expand delivery coverage to 70% of Bengaluru’s pin codes. Further, Slikk also aims to broaden its offerings to other metropolitan cities in the country and also include beauty, personal care and home decor to its collection. <div type="Article" hostid="261" msid="112444934" title="This new &amp;#39;Shazam&amp;#39; for fashion app could change the way the world shops online" mstype="2" mssubtype="0"></div>

Nothing to wear? Bengaluru-based startup promises to deliver clothes in just 60 minutes. Here’s my experience!

<ul class="summary-list"><li>Independent luxury brands face pressure to sell or seek investment amid the market downturn.</li><li>Even the biggest and most successful independent brands with cult followings are under pressure.</li></ul>Sell up or get out.It's a decision some independent luxury brands are confronting amid an <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-sales-drop-bad-indicator-luxury-market-kering-hermes-china-2024-10">industry-wide downturn</a>.With smaller budgets and fewer resources than counterparts owned by conglomerates like <a target="_blank" href="https://www.businessinsider.com/lvmh-luxury-louis-vuitton-struggles-china-slowdown-2024">LVMH</a>, indie brands are feeling the heat of an increasingly challenging retail landscape.Even the biggest and most successful independent brands with cult followings are under pressure.Mere weeks after the grand opening of its first boutique in Soho, New York City, drew large crowds, the French-born indie luxury label <a target="_blank" class="" href="https://www.businessinsider.com/luxury-fashion-in-style-according-to-jacquemus-2024-1">Jacquemus</a> announced it's seeking outside investment."I value my independence," French designer Simon Porte Jacquemus told French outlet Le Figaro in October. "I want to pass down this company to my children, but I have to break through the glass ceiling by finding the right partner, who would only have a minority."<div type="image" title="Gigi Hadid walks the Jacquemus runway." height="2000" width="1333" msid="115416179" hostid="261" sizebytes="107156"></div>Founded by the French designer in 2009, his eponymous label has experienced a meteoric period of growth. The Business of Fashion reports its sales hit 270 million euros ($290 million) in 2023. Jacqumeus did not immediately respond to requests for comment.But as 2025 nears, the luxury landscape is proving to be more difficult to navigate, even for LVMH and <a target="_blank" class="" href="https://www.businessinsider.com/things-arent-looking-great-gucci-kering-apac-slump-to-blame-2024-10">Kering</a>, both of which reported weaker-than-expected third-quarter earnings in October."If all of these brands that are giant brands with gigantic budgets behind them are suffering this economic climate and this luxury downturn," Blanca Zugaza Escribano, a fashion and luxury consultant at Metyis, told Business Insider, "Imagine smaller brands that have way smaller resources."<h2 id="c138f4ef-aa24-4cfb-8439-dbf25775bf1a">Seize the moment or risk failure</h2>Escribano said there's been an uptick of independent brands seeking investors as a survival strategy.Earlier this year, a series of independent brands, including Vampire's Wife, a luxury British retailer beloved by Kate Middleton, Dion Lee, an Australian luxury brand that Taylor Swift has worn, and NYC-founded Mara Hoffman, found themselves on the chopping block.A combination of the slowing luxury market and the closure or decline of third-party retailers that these brands heavily rely on, took its toll.Others managed to survive by selling out, including Roksanda, the eponymous label of Serbian designer Roksanda Ilinčić, which was bought by The Brand Group in May.For independent brands, Escribano said, the thought process is "either we make it today or we're not here tomorrow."<div type="image" title="Kate Middleton departs a special reception hosted by the Gov. General of Belize in celebration of Her Majesty The Queen's Platinum Jubilee in March, 2022 in Cahal Pech, Belize." height="1838" width="1280" msid="115416180" hostid="261" sizebytes="272002"></div>"It's just a very, very competitive category," Milton Pedraza, CEO of the Luxury Institute, said, adding that independent brands often don't have the resources to scale their business by themselves."The margins are very low, and it takes a long time to achieve critical mass to have success," he said. "It's almost like a salmon swimming upstream in a very turbulent river."Successful marketing tactics, like Jacquemus's buzzy food-inspired beauty campaigns or its mini <a target="_blank" href="https://www.businessinsider.com/jacquemus-tiny-handbag-le-chiquiti-review-2020-1">Chiquito bags,</a> which the internet couldn't get enough of in 2019, can fuel brand momentum, but it takes more to make it last and compete against heavyweights.In his interview with Le Figaro, Jaquemus offered an example, saying its store in Paris' Avenue Montaigne saw a drop in visitors over the summer as some shoppers avoided the city during the Olympics Games, although he said they weathered it."In reality, we are doing quite well considering we're the smallest house on the avenue," he said.Nevertheless, being the smallest on the avenue means a drop in shoppers can hurt more if you don't have the resources in place."You have to feed this monster of growth to scale to achieve this critical mass," Pedraza said.It's no surprise that Jacquemus is seeking an investor as "they need fast money to capitalize on this momentum," Escribano added.But finding an investor post-COVID-19 is no walk in the park either, as many feel as though they "got burned" by brands "that were just asking for money and burning through it, not really achieving sales, not achieving results, and not having great products," Pedraza said."The consumers and the investors have so many choices out there that they can afford to be very picky," he added.<h2 id="98e6d44e-cb1f-47ae-a13c-19724d62dcc6">Safety in numbers</h2>Jaquemus may be relatively small, but its decision to seek an investor has some foreshadowing with bigger stand-alone brands.In the summer of 2023, Kering acquired a 30% stake in Valentino, a historically independent brand.Rumors have been squashed of a Moncler acquistion of <a target="_blank" class="" href="https://www.businessinsider.com/burberry-turnaround-plan-new-ceo-revenues-plummet-luxury-slowdown-2024-11">Burberry</a>, the beleaguered stand-alone British brand.Burberry, which reported a 22% sales decline in the six months ending in September, faces an uphill battle to regain a competitive position in the luxury market.Nonetheless, Pedraza believes that consolidation between brands and independent brands seeking outside investment will likely persist as they confront industry-wide issues, including the rise of artificial intelligence."It's going to be harder for new brands to penetrate into the life of the consumer, to get the attention, to get the eyeballs, to get the awareness," he said.<div type="image" title="Designer Simon Porte Jacquemus attends the opening of the Jacquemus' Boutique as part of Paris Fashion Week at 27 avenue Montaigne on September 26, 2022 in Paris, France." height="853" width="1280" msid="115416178" hostid="261" sizebytes="44988"></div>But going the safety-in-numbers route and doing so by being acquired by a conglomerate is a decision with consequences.Brands have historically feared certain acquisitions, Escribano said, as it can fundamentally impact brand identity and creativity.For Jacquemus to sell out, it could still lose what Escribano said its magic, which in her view, is its head designer's ability to do "whatever he wants without having to explain his decisions or his creative choices to a board of investors which, at the end of the day, is going to limit so much of his creativity because he's going to have to think purely about business."

Why founders of some small luxury brands are eyeing exits        

<ul class="summary-list"><li>Luxury sales in Japan surged due to a weakened yen and increased tourist spending.</li><li>The luxury industry faced a decline in China, making Japan's market growth crucial.</li></ul>If you were looking to shop luxury in <a target="_blank" class="" href="https://www.businessinsider.com/japan-airlines-free-flights-initiative-could-backfire-experts-2024-10">Japan this summer</a>, you had to get in line.According to Amrita Banta, managing director of luxury insights firm Agility Research &amp; Strategy, luxury stores started admitting customers by appointment only to cope with the meleé of <a target="_blank" class="" href="https://www.businessinsider.com/things-american-wishes-she-knew-before-visiting-japan-mistakes-2024-9">tourists</a> flocking to Japan to take advantage of the <a target="_blank" class="" href="https://www.businessinsider.com/japan-weak-currency-yen-boosts-foreign-tourism-luxury-purchases-travel-2024-4">weakened yen</a> and cheaper prices on high-end products.The sales surge in Japan has been a much-needed boost for the luxury industry, which has been hard hit by <a target="_blank" class="" href="https://www.businessinsider.com/whats-behind-china-luxury-goods-slowdown-economy-changing-consumer-tastes-2024-10">a drop in demand in China</a>.In the second quarter of 2024, LVMH's sales in Japan were up 57%, far outpacing its other markets. Gucci owner Kering also saw a 27% uptick in sales in Japan in Q2, while its sales plunged in other markets.<div type="image" title="Shibuya Shopping District, Tokyo, Japan" height="3600" width="5400" msid="114913669" hostid="261" sizebytes="2019376"></div>But in Q3, both LVMH and Kering reported a slowdown in luxury spending in Japan.A mix of the strengthened yen due to Japanese government intervention and economic uncertainty abroad appears to have slowed Japan's shopping boom.Still, while the tourist spending may have faded somewhat, experts say Japanese consumers are emerging from a frugal era and spending on luxury themselves."There's a lot of optimism about Japan in the market," Jelena Sokolova, a luxury analyst at Morningstar, told BI.A combination of wage increases and the strengthening of the yen is driving consumer spending confidence in Japan, Daniel Langer, CEO of brand development and strategy firm Équité and a Pepperdine University luxury professor, told BI over email.But the Japanese aren't just splashing their cash anywhere — a bitter pill for some luxury brands to swallow.<h2 id="493fbccc-5f4a-41a5-8130-deff4524ff2f">Low-key luxury aligns with Japanese values</h2><a target="_blank" class="" href="https://www.businessinsider.com/hermes-escapes-luxury-industry-slump-lvmh-kering-struggle-2024-10">Hermès</a> is one example of a brand that continues to report strong momentum in Japan.This is partly because its image is in sync with core Japanese values, Martin Roll, global business strategist and senior advisor at consulting giant McKinsey, told BI.Consistency, craftsmanship, and "quality over loud branding" — attributes <a target="_blank" class="" href="https://www.businessinsider.com/hermes-became-ultimate-status-symbol-2024-2">the Birkin bag maker</a> is known for — align with "Japanese consumers' desire for subtle luxury that conveys a sense of heritage and exclusivity without overt showiness," he said."Hermès and similar brands appeal here because they prioritize quality, subtlety, and minimalism over ostentation, which is key to succeeding in the Japanese luxury space," Roll said.<h2 id="a1d7bb15-45d8-46a7-ae5e-65b8f931680d">The nuances of a Japanese audience</h2>While trend-forward brands have historically done well in regions like India and China with younger populations, "Japan is more of a stable, mature market," Banta said, especially given the country's <a target="_blank" class="" href="https://www.businessinsider.com/japan-company-shifts-adult-diapers-due-low-birth-rates-babies-2024-3">aging population</a>.Banta said brands like Prada, Louis Vuitton, and Hermès, which have long been seen as epitomizing luxury and have select products with cult followings, will maintain momentum with locals.Still, the young, affluent Japanese consumers — while more likely to self-indulge — retain many of the same values as their elders, Roll said."This group is more willing to invest in high-quality goods that blend tradition with modern self-indulgence, appreciating brands that offer a sophisticated but not overtly showy luxury experience," Roll added.<div type="image" title="The Chanel Store in Tokyo's Ginza district." height="853" width="1280" msid="114913672" hostid="261" sizebytes="149866"></div>Luxury brands that didn't participate in <a target="_blank" class="" href="https://www.businessinsider.com/recession-economic-outlook-greedflation-inflation-corporate-earnings-slowdown-societe-generale-2024-1">"greedflation"</a> and hiked prices after the pandemic have also fostered trust with Japanese consumers, Langer said.Although Japan has always been an important market for luxury brands, it was eclipsed by China as the world's largest in the early 2010s.But now that China is seemingly no longer the luxury cash cow it once was, brands looking to pivot their attention back to Japan will have to double down on respecting and understanding the locals."Cultural capital is the name of the game in today's world," Langer said."Brands need to be able to inspire Japanese audiences, and this means giving them something they desire," he added. "Brand storytelling, timelessness, and meticulous quality are critical in this market."

Japanese shoppers are entering their spending era. Not all luxury brands stand to benefit.

<ul class="summary-list"><li>New York low-key women's fashion brand Veronica Beard just launched a collaboration with the NFL.</li><li>The collab features 32 separate $1,000 jackets emblazoned with each NFL team's logo and colours.</li></ul>The lines between <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-fashion-outfits-details-2024-8">sports and fashion</a> are blurring.On Sunday, <a target="_blank" class="" href="https://www.businessinsider.com/tom-brady-nfl-approves-stake-las-vegas-raiders-2024-10">the NFL</a> announced a partnership with <a target="_blank" class="" href="https://www.businessinsider.com/best-jeans-for-tall-women-good-american-veronica-beard-2023-5">Veronica Beard</a>, a <a target="_blank" class="" href="https://www.businessinsider.com/quiet-luxury-explained-which-brands-will-benefit-2023-4">low-key luxury</a> fashion brand in New York founded in 2010 by sisters-in-law Veronica Miele Beard and Veronica Swanson Beard.The collaboration comprises 32 NFL-team branded blazers, retailing at $998 each, in the preppy style of Veronica Beards' signature Dickey Jackets."Partnering with women-centric brand Veronica Beard has allowed the NFL to create a sophisticated and contemporary touchpoint for female fans at the intersection of sports and luxury fashion," Renie Anderson, executive vice president of partnerships at the NFL, said in a press release shared with Business Insider.<div type="image" title="A model wearing a Veronica Beard NFL jacket." height="1920" width="1280" msid="114462483" hostid="261" sizebytes="280672"></div>"Women's sports and female sports fans are having an undeniable moment in the cultural zeitgeist, yet few luxury brands cater to this incredibly discerning and loyal audience," Veronica Beard said in a statement to BI.While the collaboration comes amid the surge in <a target="_blank" class="" href="https://www.businessinsider.com/nfl-commissioner-taylor-swift-unbelievable-artist-increased-game-viewership-girls-2023-11">NFL female viewership, thanks in part to Taylor Swift,</a> two luxury experts told BI it's just one example of how the fashion world, particularly the luxury sector, is looking to capitalize on sports as a largely untapped resource."The public has always been excited about sports, but sports have traditionally been seen as a workman's pastime, not a refined pastime," Thomai Serdari, a luxury marketing and branding professor from NYU's Stern School, told Business Insider.But that has changed, Serdari added. When tickets to games or races set you back thousands, and audiences include society tastemakers like Swift, sports have become an elevated arena — and fashion brands are taking note.<h2 id="42281355-e80a-4b81-9e8a-f49828633eb0">Sports are the new fashion frontier</h2>After a pandemic era boom, there are signs of struggle in the luxury world.<a target="_blank" rel="" href="https://www.businessinsider.com/lvmh-luxury-louis-vuitton-struggles-china-slowdown-2024">LVMH, the heavyweight champion of the luxury conglomerates</a>, announced its third-quarter earnings last week, and the results were <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-sales-drop-bad-indicator-luxury-market-kering-hermes-china-2024-10">significantly below expectations</a>.Earlier in October, LVMH announced a new 10-year deal with Formula 1. A few weeks later, Bloomberg reported that LVMH boss <a target="_blank" href="https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth">Bernard Arnault's</a> family is taking another step into sports by investing in the Paris FC football club alongside Red Bull.In the summer, the Paris Olympics were also seen as a major opportunity for luxury and aspirational brands, including Lululemon and Skims. LVMH spent a reported 150 million euros ($163 million) on its own Olympic and Paralympic Game collaboration, which included designing the medals and presenting them in Louis Vuitton-branded boxes and creating the French team's uniforms. The move was widely lauded, with one luxury expert telling Business Insider it was a <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-should-repeat-olympics-sponsorship-luxury-showcase-expert-paris-retail-2024-8">"masterclass" in brand engagement</a>.<div type="image" title="Left to right: Antoine Arnault, Bernard Arnault, Anna Wintour and Brian Roberts" height="683" width="1024" msid="114462771" hostid="261" sizebytes="53634"></div>Amid the luxury downturn, Milton Pedraza, CEO of the Luxury Institute, told BI that it's logical for some luxury and aspirational brands to attempt to cross-pollinate fanbases with sports teams and athletes as a means to stay relevant."It's an elevation and sort of a convergence of sports and fashion into making something bigger than the individual sum of the part," Pedraza said.For Serdari, it's a sign the fashion industry, particularly the luxury sector, is trying to engage with younger consumers — Gen Zers and millennials — who are <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-loves-expensive-groceries-snacks-erewhon-whole-foods-2024-10">redefining luxury</a> and placing greater value on experiences."They will think really twice about expensive items, but they're still spending money on experiences and events," she said of younger consumers.With the NFL and Veronica Beard, for example, merging the two is a "great opportunity of bringing a brand in front of that younger consumer who may now be tempted because now here is this brand who embraces their favorite NFL team," Serdari added.<h2 id="d3e8f772-481f-40a9-87e5-729c676ab8b6">The luxury fashion industry can't rely on sports to be its saving grace long-term</h2>However, Pedraza said, not all collaborations reap big rewards."Hail Mary passes are called Hail Mary passes for a reason," he said. "These are not make or break for the brands, but they're good experiments in the middle of the game of growth."While sports collaborations are exciting and a surefire way to create buzz for fashion brands amid the turbulence within the industry at large, Pedraza said it is unlikely to be the "long-term growth engine" luxury is in need of."There's a bit of a lack of innovation on the part of some luxury brands," he said. "These days, the belief is that getting attention is everything."Sports is a growth area, but, as Pedraza said, "there are limits to growth.""It's a phase," Serdari said. The strategy, she added, is always, "How can I make more money? Where can I look to make more money?"Right now, that answer is seemingly sports.

The NFL's $1,000 branded designer jackets are the latest sign of fashion's newfound love affair with sports

<ul class="summary-list"><li>On Sunday, Stanley and Target released a collection of "Wicked"-themed Quencher cups.</li><li>Shoppers documented themselves waiting in line for hours to buy the pink and green cups.</li></ul>Target and Stanley released their latest limited-edition collaboration on Sunday, delighting water bottle enthusiasts and musical fans alike.<a target="_blank" class="" href="https://www.businessinsider.com/trader-joes-mini-tote-bags-stanley-cups-tiktok-consumerism-marketing-2024-3">Stanley's newest insulated cups</a> were inspired by the upcoming "Wicked" film, which will be released in theaters on November 22.The collection included the $55 40-ounce and $35 20-ounce Quenchers in <a target="_blank" class="" href="https://www.businessinsider.com/ariana-grande-cynthia-erivo-wicked-dresses-oscars-2024-3">Elphaba green and Glinda pink</a>. As of Tuesday, they were completely sold out on Target's website.Despite reports that <a target="_blank" class="" href="https://www.businessinsider.com/stanley-cup-trend-possible-peak-teen-survey-2024-10">customer interest in Stanely may be starting to wane</a>, shoppers flocked to <a target="_blank" class="" href="https://www.businessinsider.com/target-fall-clothes-shopping-on-budget-2024-9">Target</a> in hoards to get their hands on the cups before they sold out, indicating that Stanley should lean into buzzy partnerships to keep its momentum going.<h2 id="c2074deb-9175-403c-b75b-f75c8ee192c4">Hours of waiting</h2>After the Quenchers dropped, videos of shoppers lining up outside Targets and storming through stores to get the cups popped up on social media.The videos were <a target="_blank" class="" href="https://www.businessinsider.com/chaos-stampede-limited-edition-stanley-cups-target-vday-resale-2024-1">reminiscent of those</a> that appeared after Target and Stanley released their Valentine's Day collaboration in January.Some of those making videos appeared to be Stanley collectors, while others were made by "Wicked" fans. There were also shoppers who didn't fall into either category. <a target="_blank" class="" href="https://www.instagram.com/thebrownmamimelts">Alicia Briggs</a>, 36, has never seen "Wicked" or "The Wizard of Oz," but that didn't stop her from heading to Target at 5:20 a.m. on Sunday."I liked it because it didn't have anything overtly 'Wicked,'" Briggs said of the Quenchers, adding that she loves pink and green.Briggs decided to drive to two different Targets with her daughters on Sunday, waiting in line for two hours to get the cups. She secured the 40-ounce cup in both colors and the 20-ounce Glinda Quencher. Though she isn't familiar with "Wicked," Briggs said she loves the cups, sipping out of her Elphaba Quencher as she video chatted with Business Insider. They also made her more excited to see the film."The marketing, as well as the two leading actresses, are definitely making it something interesting that I want to see," she said.So far, the marketing for "Wicked" has been reminiscent of the strategies for projects like "<a target="_blank" href="https://www.businessinsider.com/how-much-did-barbie-spend-marketing-box-office-success-explained-2023-7">Barbie</a>" and "<a target="_blank" href="https://www.businessinsider.com/bridgerton-merch-brand-collaborations-netflix-marketing-regency-trends-2024-6">Bridgerton,</a>" with everything from suitcases and makeup to toys and, of course, cups promoting the film.<h2 id="17ae598d-26ae-4135-96be-3097a3f1a73d">Savvy marketing can help Stanley</h2>The enthusiasm over the "Wicked" Quencher collection comes after a banner year for Stanley.Love for its Quenchers has been steadily growing since 2020, with <a target="_blank" class="" href="https://www.cnbc.com/2023/12/23/how-a-40-ounce-cup-turned-stanley-into-a-750-million-a-year-business.html">CNBC reporting</a> that the cups made Stanley a $750-million-a-year business. The business seemed to reach a fever pitch in early 2024, with people <a target="_blank" class="" href="https://www.businessinsider.com/millennial-stanley-cup-wedding-day-harry-potter-books-quencher-collection-2024-1">collecting</a> and <a target="_blank" class="" href="https://www.businessinsider.com/woman-explains-why-she-collects-stanley-cups-2024-1">reselling the cups</a>.However, a new survey by Piper Sander found that some <a target="_blank" class="" href="https://www.businessinsider.com/stanley-cup-trend-possible-peak-teen-survey-2024-10">teens are losing interest in the cups</a>, opening the door for other buzzy water bottle brands like <a target="_blank" class="" href="https://www.businessinsider.com/stanley-cups-versus-owala-water-bottles-2024-1">Owala</a> to take its place.Owala and other Stanley competitors, like HydroFlask, have already capitalized on the momentum Stanley lost after some consumers grew concerned that <a target="_blank" href="https://www.businessinsider.com/stanley-tumblers-lead-owala-hydro-flask-seize-moment-2024-2">its bottles contained lead</a>, though experts said the amount of lead in the cups isn't a hazard to users.<div type="image" title="four stanley tumbler cups" height="887" width="1182" msid="114263132" hostid="261" sizebytes="36274"></div>But as the excitement around the "Wicked" collection indicates, Stanley can maintain its popularity with buzzy collaborations.For instance, in July, Stanley partnered with Olivia Rodrigo on a Quencher inspired by her album "Guts," and according to <a target="_blank" href="https://www.influencerintelligence.com/blog/TWR/how-olivia-rodrigo-caused-a-stanley-sell-out">Influencer Intelligence</a>, it sold out in a matter of hours.It also quickly sold out of the floral-patterned cups it made with LoveShackFancy in August and the eight cups it released in honor of Barbie's 65th anniversary in September. However, as of Tuesday, it was still releasing new batches of its hot-pink Barbie cup daily.By working with recognizable brands and public figures — particularly those that appeal to a female audience — Stanley can keep ahead of its competitors.

Target shoppers' excitement over the 'Wicked' Stanley cups shows buzzy partnerships are the way forward for the water bottle brand

<ul class="summary-list"><li>NEX creates "controllable and IP-consistent" image-generation models for creative tasks.</li><li>Foundation Capital led the company's $3.5 million seed round.</li></ul>Creating an advertising campaign is no easy feat. "It's a whole operation," said NEX CEO Darius Lam. To pull off a campaign, major brands fly celebrities and athletes to a studio, hire professional photographers, and shoot images with the product they're marketing, whether it's jewelry or a handbag, said Lam. "Gathering a set of images might cost thousands or tens of thousands of dollars."Lam aims to change that with NEX, which develops AI image tools for entertainment, gaming, and marketing. Founded in late 2023, the company recently raised a $3.5 million seed round led by Foundation Capital, with participation from Point72 Ventures.NEX creates "controllable and IP-consistent" image-generation models for creative tasks, according to its website. Instead of time-intensive and costly photoshoots, customers can automatically generate images for a fraction of the cost, Lam said.NEX does this by enabling users to generate images inspired by other images, not just text inputs, in a "real-time canvas." The platform gives users a high degree of control by enabling enhancements to image quality and adjustments to color, pose, or depth in the images.<div type="image" title="Set of three images generated by NEX model" height="1211" width="3431" msid="112834896" hostid="261" sizebytes="434608"></div>Additionally, NEX can integrate with customers' data to generate content consistent with their IP. The startup's tech can also tailor the AI models based on a customer's existing data, a process called finetuning, or even develop models from scratch. For example, "if you are a film studio that's been operating for decades and you have access to huge amounts of data," said Lam. "Then we could effectively build the model from scratch and it would be completely IP safe."NEX initially took a consumer-focused approach, attracting nearly 100,000 users within a few months of launching. But the company has since pivoted to targeting business users, selling to small businesses and enterprise customers. The startup now generates revenue by charging up to $50 a month per user for access to its platform and through fees for model development and maintenance.While models like OpenAI's Dall-E and consumer-focused Midjourney are popular, many don't offer the level of control and customization that design professionals require, said Lam. Some customers may seek to develop in-house models on top of open-sourced ones but it ends up being very expensive, he added.Setting up and onboarding machine learning engineers, GPUs, and infrastructure is very difficult and costly. "It's much easier to work with a provider like NEX that not only is building the models but can integrate the models directly with applications that their creative teams can use."Other visual AI companies include BRIA, which raised a $24 million Series A in March and targets enterprise users, and Cuebric, an early-stage company focused on the film production process.Lam leads a small team of four employees at the young startup. Before founding the company, he was the head of product for computer vision at Cerebras Systems, which develops AI chips and confidentially filed for an IPO earlier this year. While companies like Adobe and Autodesk thrived in the internet age, Lam expects AI to completely upend the software landscape for creative tasks. This transformation will extend to areas like 3D design for game development, product design for software development, and visual creation for entertainment. Lam's vision for NEX is to be the "visual media tool for the AI era."

Visual AI startup NEX raises $3.5 million seed round led by Foundation Capital  

<ul class="summary-list"><li>Lucia Polverino landed a coveted role as a venture capital analyst in London in her early 20s.</li><li>She said her experiences in PR and product management were instrumental in this transition.</li></ul>This as-told-to essay is based on a transcribed conversation with Lucia Polverino, a 24-year-old analyst at a venture capital firm based in London. Business Insider has verified her employment. The following has been edited for length and clarity.I was always passionate about getting into the workplace as quickly as possible after university. After graduating, I dabbled in a career in public relations and product management before landing my role as a venture capital analyst — but my varied experiences helped me get to this point.My first office job was a placement in my first year at university, where I studied for a degree in business administration. I worked at Piper Sandler, an American investment bank. I spent six months in their healthcare M&amp;A division. It was a really good first formative experience, but it was challenging.My next placement was in my third year of university. I worked at KKR in their private credit team. But because this happened during the COVID-19 pandemic, I had to be proactive as <a target="_blank" href="https://www.businessinsider.com/recent-college-grad-quit-dream-job-work-from-home-2024-4">we weren't in the office</a>, and try to get my colleagues to give me more work to do. It was a really valuable experience.After graduating, I was adamant I wanted to try something less corporate. My first job out of university was at a tech PR firm. I've always been interested in entrepreneurship, media, and communications. It was a 15-person team when I joined, which made for a startup-like environment — very entrepreneurial and dynamic. I worked with eight clients across AI, cyber security, e-commerce, and business-to-business sectors. That was an inflection point because it diverted my career toward the tech world.I loved working with tech companies and startups, so after nine months, I decided to go in-house and work at a tech company. As a recent graduate, I was still eligible for roles targeted toward recent university graduates which provide a structured career path into a particular sector. I loved the sound of product management. You can work with a bunch of different teams, such as engineering, marketing, and UX; this was similar to the way I worked in PR with different clients. I was lucky enough to secure a grad job in the product team at ICIS, which is a data team within LexisNexis, a software company.My job in product management was instrumental in leading me to venture capital. I understood the key levers in a tech company that influence its growth. I've always liked wearing different hats, and these threads led me to join Playfair, a generalist VC fund.<h2 id="371fbf1a-872d-41fd-a6a6-311ea68a2add">I was so surprised at how relevant my PR experience was</h2>I was so surprised at how relevant my PR experience was because so much of VC is investor relations. It's really important to form friendships with investors, not just transactional relationships. Equally, because I was working with tech companies in my PR role, it was easy to verbalize and justify why I loved tech companies and working with startups in my interview. It's really important for young people in interviews to bring in their past experiences and talk about how it will help them be good candidates.For <a target="_blank" href="https://www.businessinsider.com/day-in-the-life-of-gen-z-vc-in-london-2022-7">young people who want to apply to VC</a>, it's really important to figure out the kind of fund you want to apply for. If your background is generalist and diverse, that kind of VC fund would likely suit you. But if you started your career with a technical background, you'd perhaps be suited to a deep tech fund. You should understand where you will add the most value.Being a pandemic graduate also made me less worried about finding a linear career path and sticking to it for five years. During the pandemic, I thought, who knows what will happen in six months? Nothing was certain — it seemed like the pandemic would never end. This impacted my mindset, and I was more willing to take risks and figure out what I actually liked. I think it's also more of a Gen Z trend because we are <a target="_blank" href="https://fortune.com/2024/04/23/gen-zers-millennials-job-switching-accelerating-pros-cons-careers-employment/">more likely to job-hop</a> than previous generations.<h2 id="a0326792-b564-4676-ac2d-e5686145c0cd">You don't need a background in investment banking to get into VC anymore</h2>It may have been true in the past that you need an investment banking background to get into VC, but that's not the case anymore. I've met more people that don't come from banking than do. In my case, at a pre-seed fund, making a financial model from scratch would be less useful a skill to have.VC is such a broad industry — and your experience will be shaped by what stage your fund invests in. The hiring managers usually like young people who have had startup experience, such as being an operator. I've also met so many people who come from software engineering and technical backgrounds and work at deep tech funds. I've also met a lot of people coming from NGO and charity backgrounds. This ultimately speaks to the sector you may want to specialize in once you get into VC.You could also show you have an entrepreneurial mindset to some degree. My hiring managers loved that I had a fashion blog when I was at university and that I would reach out to brands to partner with for my videos. It's really important to show that you love entrepreneurship and working with founders.Try to <a target="_blank" href="https://www.businessinsider.com/top-recruiters-hiring-staffing-tech-job-wall-street-headhunters-2024-4">leverage recruiters</a> if you can. At Playfair, we have a very transparent hiring process, and the fund markets the position as much as possible — but that's not the same for all VC funds. I found my job through a recruiter called JumpStart, and it's a very helpful avenue for younger grads.

I landed a job in venture capital at 24 after changing my career path twice. Here's how I got the coveted job with a varied résumé.  

B9 Beverages Ltd, Bira 91's parent company, on Wednesday said it is raising $25 million in new funding from <keyword id="20841250" type="General" weightage="20" keywordseo="tiger-pacific-capital" source="keywords">Tiger Pacific Capital</keyword>, an Asia-focused fund headquartered in New York and Hong Kong. The new investment is part of a $50 million round raised by the company, with participation from its existing investor, <keyword id="20635955" type="General" weightage="20" keywordseo="kirin-holdings" source="keywords">Kirin Holdings</keyword> of Japan, and Tiger Pacific Capital from New York, it said in a statement. "As Bira 91 takes next steps to drive growth across markets and strengthen its supply chain, this new partnership will strengthen the company's balance sheet considerably," said <keyword id="20841253" type="General" weightage="20" keywordseo="ankur-jain" source="keywords">Ankur Jain</keyword>, Founder and CEO, Bira 91. With this capital, "we will expand our manufacturing footprint to new regions, including Uttar Pradesh," he added. The company has six large-scale manufacturing plants in the country. Bira 91 is now the fourth largest beer company in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, behind only multinationals like Heineken, AB-Inbev and Carlsberg, and has experienced strong double-digit growth since its inception 9 years ago. The company also owns the country's largest beer-focused pub chain, The Beer Cafe. "We are excited to partner with emerging companies in India, especially brands like Bira 91 with a unique understanding of the new Indian consumer, and a strong local manufacturing footprint," said <keyword id="20847970" type="General" weightage="20" keywordseo="run-ye" source="keywords">Run Ye</keyword>, Founder of Tiger Pacific Capital. Founded in 2015, B9 Beverages is backed by leading investors including Japan's leading beer company, Kirin Holdings, Japan's largest bank, MUFG Bank, Sofina of Belgium, and Peak XV Partners (formerly Sequoia India). SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms">Nothing Phone (2a) smartphone debuts in India, priced starting at ₹23,999</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms">Xiaomi 14 to launch in India on March 7, to take on the Galaxy S23 and OnePlus 12</a>

Bira 91 raises $25 mn to expand manufacturing footprint

The long, strange decline of one of America's most influential brands

<ul class="summary-list"><li>Ed Sheeran branded the entirety of London as "sketchy."</li><li>Sheeran made the comments in an episode of "This Past Weekend w/ Theo Von."</li></ul><a target="_blank" href="https://www.businessinsider.com/ed-sheeran-ai-music-warn-tech-chatgpt-generative-ai-2023-8">Ed Sheeran</a> branded the entirety of London as "sketchy" in a recent episode of Theo Von's <a target="_blank" class="editor-rtfLink" href="https://www.youtube.com/watch?v=Guspc7G92Gs">"This Past Weekend" podcast</a> — despite the pop star reportedly owning more than 20 properties in the UK capital.Asked about the most dangerous part of the UK, Sheeran, 33, said: "Here? I'd say every area of London. Literally, every area is sketchy.""The nice areas are sketchy, the bad areas are sketchy. But you just have to not do stupid shit," he told Von. "If you wander around with, I dunno, like a Louis Vuitton duffel bag and a 200 grand watch, you are going to get robbed.""But just don't do that," he added.According to the website <a target="_blank" href="https://crimerate.co.uk/london">crimerate.co.uk</a>, the crime rate in London over a 12 month-period ending April 2024 was 106 crimes per 1,000 people.The site says that Hackney in east London is the city's most dangerous borough based on Crime Risk Scores, which it says are calculated by taking the severity of crimes into account, while the safest borough is Richmond upon Thames in the southwest of the capital.Sheeran's apparent reserves about London's safety haven't stopped the singer from investing in the city, however.The MailOnline <a target="_blank" href="https://www.dailymail.co.uk/tvshowbiz/article-11292129/Builders-work-Ed-Sheerans-20-million-West-London-mansion.html">reported</a> in 2022 that the Grammy-award-winning artist had built up a portfolio of 22 properties in London, including two spots in Covent Garden in the city's West End.Nevertheless, Sheeran spends most of his time residing on a 16-acre estate in Suffolk, in the east of England.The lavish estate reportedly has a barn that Sheeran renovated into a private pub, <a target="_blank" href="https://www.architecturaldigest.com/story/ed-sheeran-has-the-spookiest-thing-in-his-backyard">as well as its own chapel</a> — where the singer even added a crypt.A representative for Sheeran did not respond to a request for comment from Business Insider.While Sheeran is now one of the biggest names in music, he started out as a struggling artist who spent some nights sleeping rough in London as he attempted to make it big.Writing about the early days of his career in his 2014 autobiography, <a target="_blank" href="https://businessinsider.com/millionaires-billionaires-who-came-from-nothing-rags-to-riches-stories-2019-7">"Ed Sheeran: A Visual Journey,"</a> Sheeran recalled: "There was an arch outside Buckingham Palace that has a heating duct and I spent a couple of nights there. That's where I wrote the song 'Homeless' and the lines 'It's not a homeless night for me, I'm just home less than I'd like to be.'"Per the book, it was <a target="_blank" class="editor-rtfLink" href="https://www.songfacts.com/facts/ed-sheeran/the-a-team">while performing at a local homeless shelter</a> that Sheeran met a sex worker and drug addict named Angel, who inspired his debut 2011 single "The A Team."The song catapulted Sheeran into the limelight, and he has since gone on to amass a fortune of around £300 million (roughly $384 million), according to the <a target="_blank" href="https://www.thetimes.com/culture/music/article/ed-sheeran-net-worth-sunday-times-rich-list-9rnnlm8hb">Sunday Times Rich List 2023</a>.

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