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Climate Action 15: 2024's top global innovators powering green solutions

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/china-luxury-retail-sales-slowdown-brands-fashion-2024-7">Luxury brands are struggling</a> due to economic pressures and high inflation.</li><li>Aspirational consumers have turned to midlevel brands like Zara and Pandora.</li></ul>Tanking share prices, excess stock flooding outlets, a slowdown in once-reliable China: 2024 has been a tough year for luxury brands. <a target="_blank" class="" href="https://www.businessinsider.com/gucci-sales-profit-reputation-falling-luxury-kering-michele-china-2024-5">Gucci</a> has become a fixture of discount racks, while <a target="_blank" class="" href="https://www.businessinsider.com/how-burberry-became-fashions-biggest-fail-stock-drop-ceo-ousting-2024-8">Burberry's</a> stock is at its lowest point in years.But where there are losers, there are also winners, and when consumers don't go high, they go low — or at least lower."Overall, especially at the aspirational level, some customers just can't afford to spend the way they have been the last few years due to the inflationary pressures on housing and groceries," Claire Tassin, a retail and e-commerce analyst at Morning Consult, told Business Insider.<a target="_blank" class="" href="https://www.businessinsider.com/lvmh-says-the-aspirational-customer-is-suffering-2023-7">Aspirational consumers</a> who used their extra pandemic cash to splurge four figures on handbags or branded jewelry are now being squeezed by prices spiraling upward. It's those middle-income shoppers whose consumer confidence has suffered the most and who are turning to more practical, cost-effective options, Tassin said.To find relief from high luxury prices, those consumers are turning to midlevel brands like clothing store Zara and jewelry brand Pandora, which are thriving."Brands that offer accessible luxury or affordable fashion are seeing success as consumers adjust their spending habits," Federica Levato, senior partner at Bain &amp; Company, told BI over email. "The ability to offer desirable products at various price points allows these brands to capture a broader audience, particularly in times of economic uncertainty."The stock of Zara's Spanish parent company, Inditex, and Danish Pandora are both up 26% this year. Quarterly revenues were up 11% and 15% year-over-year, respectively. Meanwhile, the Paris-listed stocks of Gucci-owner Kering and Louis Vuitton-owner LVMH are down TK and TK, respectively."For many years there has been a trend that the low end is growing, the very high end is growing, and the middle is shrinking and hollowing out," Jelena Sokolova, a senior equity analyst at Morningstar, told BI. "We have actually reached an inflection where people need some kind of brand that caters to people who are not exactly dumpster diving but also cannot afford luxury anymore."It's not the first time more midlevel players have benefited from a luxury downturn. Following the 2008 recession, brands like Michael Kors and Coach found themselves thriving.Both <a target="_blank" class="" href="https://www.businessinsider.com/urban-revivo-convert-but-experts-say-zara-shouldnt-worry-2024-7">Zara</a> and Pandora have taken advantage of the larger luxury slowdown to take market share from competitors, and both have room to continue to grow. But it's not just that the brands have lower price points — for years, they have been strategically setting themselves up to take over market share and maximize profits.<a target="_blank" class="" href="https://www.businessinsider.com/zara-founder-amancio-ortegas-life-and-houses">Zara</a> has established itself as a fashion-forward midlevel company. Thanks to its nimble supply chain, it quickly churns out stylish clothes based on runway looks. It produces its products — often versions of runway trends — in places like Morocco, Portugal, and Turkey, which are close to or in Europe, its largest market, and is the exclusive customer of most of its factories."Call it a value play, call it a dupe, but you are finding a similar style that is not as expensive," Tassin said. "You are still being able to scratch that itch of consumption and getting a stylish item that is speaking to the same trend or expressing a similar aesthetic."Its price points, which are lower than luxury but not so low that they alienate consumers into thinking they are poorly made (think Shein and Primark) have set it apart. There's a $349 leather jacket available amid the $70 blazers and a pair of $229 boots made of 100% cow fur."It has become very crowded on this very, very low end. Zara is pivoting to the higher end position, into having more designed items and playing on this fashion edge," Sokolova said. "It is acceptable for people to buy accessories with luxury brands and then buy apparel at Zara."<a target="_blank" class="" href="https://www.businessinsider.com/pandora-influencer-marketer-strategies-partner-creators-of-color-brand-deals-2024-6">Pandora</a>, known for its strong and steady charm bracelet business, has expanded beyond that niche to target a wide range of consumers looking for a lower-cost option. It bills itself as the "only global brand in the accessible luxury jewelry market."It's moved into lab-grown diamonds — recently seen on Pamela Anderson at the <a target="_blank" class="" href="https://www.businessinsider.com/met-gala">Met Gala</a> — and pearls, as well as silver, where it can grab market share from the likes of Tiffany and Co., which has leaned away from the highly profitable metal."With these other product ranges apart from charms, they think they are benefiting from the downtrading of consumers," Sokolova said.To be sure, those who would typically purchase a <a target="_blank" class="" href="https://www.businessinsider.com/cartier-van-cleef-richemont-winning-luxury-beating-lvmh-kering-2024-6">Cartier</a> engagement ring likely aren't shopping for one at Pandora. But for smaller gifts, the brand has successfully expanded its customer base thanks to its scale — it's three times as large as its main competitor, Swarovski, Sokolova estimated.Of course, what goes down likely comes back up. The trick for both Zara and Pandora will be maintaining their appeal when aspirational consumers can once again spend on luxury. As it is, <a target="_blank" class="" href="https://www.businessinsider.com/inflation-august-consumer-price-index-federal-reserve-rate-cuts-2024-9">US inflation is moderating</a> — but certainly not quickly."The question mark is really whether the consumers will stick," Sokolova said, "or whether their financial situation improves and they will move on."

These mid-tier brands are winning in fashion while luxury struggles 

Few prints are as emblematic as the Burberry check. For more than a century, the black, white, red, and tan plaid has represented a certain level of British sophistication and, more practically, a defense against even the worst wet weather.But earlier this summer, the cracks in fashion powerhouse Burberry's foundations became very apparent. In July, after reports that it was cutting hundreds of jobs, Burberry said sales had fallen 21% year-over-year in the first quarter and that it would suspend its dividend. On the heels of earnings, the company also announced it was ousting its CEO, Jonathan Akeroyd.The market has not responded kindly. Burberry's stock is down 24% since the news and 49% so far this year.It's a strong about-face for the brand and has left many wondering what exactly went wrong.The answer is a combination of too-high prices and too-high fashion.Burberry has shifted away from its bestsellers, like the <a target="_blank" class="" href="https://www.businessinsider.com/guides/style/best-trench-coat-women">classic trench</a>, into avante-garde looks that don't appeal to a broad market. It's also pitted itself against bigger, more established luxe players — with limited success."They tried to be a major fashion player because fashion was back in fashion," Jelena Sokolova, a senior equity analyst at Morningstar, told Business Insider. "It was the same with boosting leather goods. Neither of these things, I would say, are extremely strongly in the brand DNA."Take handbags. Being an exclusive fashion name means playing in the <a target="_blank" href="https://www.businessinsider.com/luxury-handbags-most-fakes-counterfeit-how-to-tell-hermes-gucci-2024-7">competitive world of overpriced bags</a>, one of the most high-margin items a luxury house can sell. But Burberry hasn't been able to keep up with the likes of Louis Vuitton or Gucci.What's left is a confused brand with little direction and too many discounts and outlet stores. But things aren't hopeless at Burberry, which did not respond to a request for comment from Business Insider. A strategy that focuses on the brand's core products — its outerwear — and eschews a bloated price structure in favor of more broad appeal could help turn the company around.<h2>From technical fabric to a golden age</h2>Like many <a target="_blank" href="https://www.businessinsider.com/hermes-became-ultimate-status-symbol-2024-2">legacy brands — Hermès,</a> Louis Vuitton — Burberry was created for practicality, not for fashion's sake. Thomas Burberry, the founder, invented a proprietary fabric in 1879 with the goal of protecting customers from the notoriously poor British weather.The fabric was about performance, and the company's history boasts about explorers in the early 20th century wearing the gear to the Arctic Circle or on long-distance hot air balloon rides.It wasn't until 100 years later, in the early 21st century, that the brand really became a force in fashion.From 2001 to 2018, designer Christopher Bailey ran Burberry and turned it into a global name. While focusing its design on Burberry's heritage and its classic plaid, he also modernized the business, making runway collections available right after the show and building an online presence. It may not have been very high-fashion, but it worked."When things were good, the brand was outperforming the industry," Sokolova said.<h2>Trying to be a 'major fashion player'</h2>But every golden age comes to an end, and after Bailey was also <a target="_blank" class="" href="https://www.businessinsider.com/burberrys-new-ceo-christopher-bailey-2013-10">named Burberry CEO in 2014</a>, the brand started to decline.The company had begun to lag behind its peers, and a move to <a target="_blank" class="" href="https://www.businessinsider.com/burberry-new-ceo-marco-gobbetti-christopher-bailey-stays-on-as-president-2016-7">bring in new leadership in 2018</a> was lauded by industry watchers who had just seen <a target="_blank" class="" href="https://www.businessinsider.com/gucci-sales-profit-reputation-falling-luxury-kering-michele-china-2024-5">Gucci transform under Alessandro Michele</a>."We believe this is a necessary move to make Burberry exciting again," Luca Solca, then the head of luxury goods at Exane BNP Paribas, wrote in a note, The New York Times reported in 2017, when it was announced Bailey would be leaving. "Creative directors — like all artists (painters, composers, singers) — tend to produce variations on a theme. Most brands that have gone through a revival had to first find new creative resources.''Part of that revival was an attempt to go upmarket — both in terms of look and price.Burberry looks designed by Ricardo Tisci, who followed Bailey as creative director, leaned away from the traditional.<div type="image" title="Ricardo Tisci's Burberry collection on hangers" height="3187" width="4562" msid="112344418" hostid="261" sizebytes="537832"></div>"I wanted to celebrate the amazing brain of England," Tisci told <a target="_blank" href="https://www.vogue.co.uk/article/riccardo-tisci-burberry-interview">Vogue</a> in 2019. "The beauty, the avant-garde, the real individualism."But Burberry's sweet spot was never the avante garde but classic trench coats, a lesson Tisci's successor and Burberry's current designer, Daniel Lee, would learn when he leaned too heavily into leather goods.Over the past couple of years, Burberry has tried to become a player in the luxury handbag market, a high-profit opportunity, to little avail. The company started churning out bags that matched the prices of those from leather goods houses like Louis Vuitton, charging 58% more than its legacy leather goods products.It was a move that Solca, now at Bernstein, called "overambitious" in a June note. And customers weren't buying it — or the bags."They have been trying to boost their leather goods business, but of course it's a very uphill battle," Morningstar's Sokolova said. "They pushed the pricing where the brand didn't feel legitimate. I've heard from some people, with a $2,500 bag, you might as well just go for Louis Vuitton, you wouldn't buy Burberry."Designer Lee has also added to the brand's muddled image. He adopted a new signature color and a new logo, leaving consumers who wanted classic Burberry just as confused as they were with Tisci.The result is a series of contradictions: a British heritage brand known for its trench coats trying to become a high-end maison, and a label with increasingly expensive products that has had to turn to outlets and steep discounts when those products didn't move."Burberry was trying to expand into categories and price points where it did not have sufficient brand desirability or heritage," Adam Cochrane, an analyst at Deutsche Bank Research, told BI over email. "The combination of higher price points and more sales via outlet channels was always hard to reconcile, and the company never managed to navigate this well."Even chairman Gerry Murphy admitted things had "moved a bit too far, too fast with the new aesthetic" during the July earnings call."Convincing consumers that they need to spend more for its products would only be possible if Burberry became very hot and very desirable," Solca wrote in his June note. "This is currently not the case, and most likely will only change gradually."<h2>In the luxury trenches</h2>Not all of Burberry's problems are of its own making; the entire <a target="_blank" class="" href="https://www.businessinsider.com/luxury-goods-sales-slow-clothes-shoes-china-bain-company-travel-2024-6">luxury sector is facing challenges</a>."If the general sentiment is weak, the brands that have the weaker momentum, they get discarded first," Sokolova said. "They get the most hurt in a downturn."With <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-says-the-aspirational-customer-is-suffering-2023-7">inflation squeezing aspirational shoppers</a>, it's natural that if they are going to splurge, they will do it on a brand that's considered a good investment. Those are more likely to be iconic styles that have been in fashion for years — a Louis Vuitton Neverfull, say, or Chanel Flap bag — than a style from Burberry, a brand not known for its bags."It's been a tougher market where customers are more cautious, more conservative, not just about price but on style," Murphy said during the July call.There's also <a target="_blank" href="https://www.businessinsider.com/starbucks-lvmh-loreal-declining-sales-china-earnings-consumer-luxury-retail-2024-7">China, a difficult market</a> for the entire sector right now. Consumer sentiment in the region has fallen, and shoppers are choosing to take their money to Japan, where the yen has been weak.And Burberry is doing even worse than its peers there, which partially reflects Chinese customers' shift "to brands which have been able to better reflect heritage and desirability," Cochrane said.Burberry's comparable store sales in Mainland China fell 21% during the first quarter. Luxury bellwether LVMH's revenue in the Asia-except-Japan region dropped 13% in the first half of the year."It is difficult to reposition a brand in a challenging macro environment, and Burberry's high exposure to the slowdown in China does not help," Anne-Laure Bismuth, a director of luxury and sporting goods research at HSBC, told BI.In the region, <a target="_blank" href="https://www.businessinsider.com/luxury-brands-slash-prices-in-china-burberry-marc-jacobs-2024-7">shoppers associate the brand with discounts</a>, Bernstein research found, meaning its offerings are far from the investment pieces or "wear for five year" items that people typically want during tough economic times.<h2>Check, please!</h2>Industry onlookers seem to agree Burberry is at a crossroads and can go one of two directions, with one being substantially easier. The brand can continue its price hikes and attempt to go high fashion — plus close most of its 56 discount outlets, Bismuth said — or it can go back to basics and stop trying to compete with the Louis Vuittons and Guccis of the world.<div type="image" title="Burberry Outlet Store" height="650" width="1024" msid="112344416" hostid="261" sizebytes="83214"></div>The first would come with "the consequence of impairing its earnings significantly for at least three to five years," Bismuth said; most analysts BI spoke to see going back to basics as a more surefire way for Burberry to succeed.Part of a strategy of shrinking away from being a very upmarket high-fashion brand would be to lean into what works — namely, the trench.While Burberry was built as an outerwear brand, outerwear currently only makes up 30% of its revenue, and trench coats make up just about 10%, Sokolova said. Apparel, one of the slowest growing parts of luxury, makes up about 60%."I wish that they would focus on their iconic products," Sokolova said. "From an advertising and product perspective, that should be the focus to revitalize the brand."Outerwear makes up more than 70% of the revenue of Moncler, she said, a brand known for its winterwear. Moncler has outperformed Burberry year-to-date; by leaning on what it knows works — it doesn't even make handbags — the company has been less exposed to the squeezes facing the luxury sector.Just like Hermès needs the Birkin and the Kelly, Burberry needs the trench and the scarf, and even the brand admits it has strayed too far from its heritage. In a July <a target="_blank" href="https://www.burberryplc.com/news/financial/2024/first-quarter-trading-update">memo</a>, the company said it would "emphasise more of the timeless, classic attributes that Burberry is known for" and "a broader everyday luxury offer."Part of this would also mean reducing those sky-high prices of recent years, but in reality, the company was already offering steep discounts and <a target="_blank" class="" href="https://www.businessinsider.com/nycs-first-outlet-mall-has-an-uncertain-future-2019-9">selling at outlets</a>.It looks like management agrees that highbrow is not the way to go, given the new CEO, Joshua Schulman, is a veteran of Coach and Jimmy Choo, two upmarket brands that have iconic collections yet aren't exactly uber-luxury.Making Burberry a British Coach or Michael Kors "would possibly generate higher cash flows and profits," Solca wrote in a November 2021 note.Perhaps there is a way for Burberry to weather the storm after all.

How the British behemoth Burberry became fashion's biggest fail of the year 

<ul class="summary-list"><li>Capsule aims to revolutionize shopping with an interactive app for on-demand product discovery.</li><li>The app uses computer vision and generative AI to identify and recreate products globally.</li></ul>The way we shop is in for a revolution.Instead of walking into a store, browsing a catalog, or scanning the web for your favorite brands, imagine being able to shop just like you'd identify a song with the <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/what-is-shazam#:~:text=Become%20an%20Insider%20and%20start,short%20sample%20of%20their%20audio.">music discovery app Shazam </a>— on demand, whenever, and wherever you're located. That's the vision behind the interactive shopping app Capsule.The e-commerce world has seen this concept before. In 2019, Amazon unveiled <a target="_blank" class="" href="https://www.businessinsider.com/amazon-launches-shazam-for-clothes-2019-6">StyleSnap, an AI-driven tool</a> that matched fashion photos users uploaded with products on its site. Brands like Asos, Wayfair, and Target have launched similar tools that rely on computer vision and deep learning algorithms to identify styles, shapes, and patterns from pictures.But Capsule's goal is more ambitious and far-reaching: It aims to become the default destination for online shopping. Instead of relying on its inventory or partnerships with other brands, the company scrapes data from some 20,000 websites nightly, ingests it, and uses it to power its product index.Capsule cofounder and CEO Michele Van Ruiten told Business Insider that its mapping out women's fashion, intending to own the space within two to a half years. Its eventual goal is to "create a universal horizontal data layer of commerce that exists above the internet," Van Ruiten said. "This data layer understands products, every shoppable product globally, what it is, who sells it, what it's made of, and its resale value."So, consumers will no longer need to conduct laborious online searches for a specific pair of heels or a water bottle. "A single search considers everything online," Van Ruiten said.<h2 id="e53b8a84-5b1e-4da1-a726-2ace3df2072b">Snap a picture, buy the dress</h2><div type="image" title="Capsule user guide" height="1050" width="2478" msid="112444035" hostid="261" sizebytes="93000"></div>In practice, Capsule works a bit like a <a target="_blank" class="" href="https://www.businessinsider.com/google-images">Google reverse image search</a> on hyperdrive. Users simply take a picture of a product — whether that's an actor wearing a dress they like or a pair of shoes they've spotted in a store window — and upload it to the app, and it will show them the item, along with other, similar, shoppable styles.The company uses computer vision models to infer details about the items in its catalog, compare products to one another, and connect identical items.Beyond the image search, Capsule can also recommend a personalized color wheel for users based on their skin, eyes, and hair, using proprietary algorithms. It also allows users to augment their searches with generative AI. So, if they upload a picture of a white shirt but want to see it in colors not offered by the brand that makes the shirt, Capsule uses generative AI to recreate it in new colors, allowing users to search for options from other brands.Last month, Capsule also launched a new text search feature in beta that allows users to search for clothes based on a concept they have in mind — whether that's just a "simple white t-shirt" or "<a target="_blank" class="" href="https://www.businessinsider.com/sex-and-the-city-surprising-fun-facts">Carrie Bradshaw</a>-inspired dress" — rather than a specific picture.Eventually, Capsule plans to share data on what users are searching for or how they're augmenting products with brands to drive new product designs. It'll need to accrue a few million more users before then, but Van Ruiten said the company is already able to forecast trends before they hit apps like Pinterest or called out by fashion magazines like Vogue.It's paving the way for a new way of shopping that's driven by the consumer.Consumers are shifting away from "wanting to replicate things they see online in a one-to-one way," Van Ruiten said. The average Gen Z shopper, especially, finds fashion inspiration in tons of places across the virtual world — from brands to influencers to viral trends. So they're starting to see apps like Capsule as a place "where their own creativity could put them at the helm of product discovery," she said.

This new 'Shazam' for fashion app could change the way the world shops online

<ul><li><keyword id="20313645" type="General" weightage="20" keywordseo="retail-leasing" source="keywords">Retail leasing</keyword> in the sector is expected to sustain at 6-6.5 million square feet in 2024, says CBRE.</li><li>By the year-end, 5-6 mn. sq. ft. of investment-grade mall space will become operational in <keyword id="21259569" type="General" weightage="20" keywordseo="tier-I-cities" source="keywords">tier-I cities</keyword>.</li><li>Domestic brands are expected to turn cautious, but <keyword id="20322579" type="General" weightage="20" keywordseo="global-brands" source="keywords">global brands</keyword> are continuing to expand, according to the report.</li></ul><keyword id="20020606" type="General" weightage="20" keywordseo="Indian-brands" source="keywords">Indian brands</keyword> are turning cautious with their retail expansion. Hence, the leasing in the sector is expected to sustain at 6-6.5 million square feet in 2024, according to the latest report by the commercial real estate firm CBRE. The saturation follows the remarkable growth in 2023, as brands absorbed a little over 7 million sq ft. The supply environment in terms of retail space like malls and high streets is also expected to be stable in the current year. By the year-end, 5-6 mn. sq. ft. of investment-grade mall space will become operational in tier-I cities. “Retailers, including anchor tenants and established brands, are expected to proceed cautiously with expansion plans. They will prioritize locations with high visibility, strong foot traffic and favourable consumer demographics. As a result, rental growth is expected to rationalize across both primary and secondary locations,” the report says. But, there is a silver lining! Luxury and premium brands, especially global brands, are choosing to spread their wings in top cities despite the global macroeconomic and sectoral challenges. “Foreign luxury retailers are entering India through partnerships with local players. The upcoming launches of a few brands underline this trend. This reflects a renewed optimism in India's <keyword id="71937" type="General" weightage="20" keywordseo="retail-sector" source="Orion">retail sector</keyword>,” said Ram Chandnani, managing director, advisory &amp; transactions Services, CBRE India. Retail demand across investment-grade malls, prominent high streets and standalone developments has grown consistently since 2020. Tier-I cities remain key expansion hubs, and promising tier-II markets are attracting new players. Malls are transforming into experiential centres, offering a mix of entertainment, dining and shopping. “Fuelled by pent-up demand and strategic expansion, India's luxury retail sector is experiencing a leasing boom, attracting both established brands deepening their presence and new international players entering the market. This expansion reaches beyond Delhi and Mumbai to the newer markets like Hyderabad and Ahmedabad,” said Anshuman Magazine, chairman &amp; CEO of India, South-East Asia, Middle East &amp; Africa, CBRE. In 2024, the home décor segment is likely to expand in both online and offline formats, while fashion and apparel players will continue expanding in tier-I cities across malls and high streets, the report adds. It also sees good traction from domestic jewellery brands as well as the entertainment category.

The luxe experience: Expanding global brands to drive retail leasing in 2024

Whenever <keyword id="2069863" type="General" weightage="100" keywordseo="Bhumi-Pednekar" source="Orion">Bhumi Pednekar</keyword> is mentioned, the image of strong female characters inevitably springs to mind. She has made her mark in films like 'Dum Laga Ke Haisha', 'Toilet: Ek Prem Katha' and 'Bhakshak', earning acclaim for her portrayals tackling social issues. It turns out her dedication to impactful roles extends beyond the silver screen — a commitment that has now earned her recognition as a <keyword id="120368" type="General" weightage="20" keywordseo="Young-Global-Leader" source="Orion">Young Global Leader</keyword> (YGL) by the <keyword id="69007" type="General" weightage="20" keywordseo="World-Economic-Forum" source="Orion">World Economic Forum</keyword> (WEF)! The Young Global Leaders community celebrates individuals under 40 who are actively addressing pressing global challenges. The program aims to empower these exceptional leaders shaping a more sustainable and inclusive future. The Bollywood star will join the prestigious YGL's class of 2024 in Geneva later this year, acknowledged for her efforts in promoting awareness of <keyword id="49089" type="General" weightage="20" keywordseo="sustainability" source="Orion">sustainability</keyword>, and climate change, and her significant contributions during the COVID-19 pandemic. As an ardent advocate for environmental conservation and sustainable living, Bhumi has effectively utilised her fame to champion causes like waste segregation, rainwater harvesting, recycling, and conscious fashion choices. Her role as a climate warrior has also seen her collaborating with activists nationwide, amplifying their voices and supporting initiatives focused on environmental preservation and <keyword id="299722" type="General" weightage="20" keywordseo="climate-action" source="Orion">climate action</keyword>. Expressing gratitude for being named a Young Global Leader, Bhumi shared: “I am deeply honoured and humbled to be recognised by the World Economic Forum as a Young Global Leader. Through my work, I have strived to ignite conversations, inspire action, and foster tangible change in the realm of sustainability and climate change. “I aspire to cultivate a diverse portfolio as both an actor and entrepreneur, and I look forward to realising these ambitions through the World Economic Forum's YGL program. This validation also reaffirms my belief in the power of collective action. I am committed to continuing my efforts and I look forward to collaborating with fellow Young Global Leaders to drive positive change.” In addition to Bhumi, the WEF has also acknowledged four other Indians for their significant contributions in their respective fields and their commitment to effecting positive change. These individuals, including <keyword id="2422251" type="General" weightage="20" keywordseo="Adwaita-Nayar" source="Orion">Adwaita Nayar</keyword> (CEO of Nykaa), <keyword id="4976567" type="General" weightage="20" keywordseo="Arjun-Bhartia" source="Orion">Arjun Bhartia</keyword> (Director at Jubilant Group), <keyword id="8656479" type="General" weightage="20" keywordseo="Priya-Agarwal-Hebbar" source="Orion">Priya Agarwal Hebbar</keyword> (Non-Executive Director at Vedanta Limited) and <keyword id="1011865" type="General" weightage="20" keywordseo="Sharad-Vivek-Sagar" source="Orion">Sharad Vivek Sagar</keyword> (Founder and CEO of Dexterity Global), join nearly 90 changemakers from various sectors in this year's YGL cohort. Together, they are dedicated to leaving a lasting impact on their communities and beyond.

Young Global Leader: World Economic Forum recognises Bhumi Pednekar for her role in promoting sustainability

<ul class="summary-list"><li>A startup founder credits Warren Buffett with boosting her business ambitions to another level.</li><li>Lola Banjo told the investor she aspired to be CFO of BMW, and he encouraged her to dream bigger.</li></ul>A word of advice from <a href="https://markets.businessinsider.com/news/stocks/who-is-warren-buffett-berkshire-hathaway-stocks-investing-wealth-philanthropy-2023-5">Warren Buffett</a> transformed how one startup founder saw herself, and boosted her ambitions to a global scale.Lola Banjo met the famed investor and <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> CEO while studying for a MBA from Emory University between 2009 and 2011. She entered and won a competition where the prize was meeting a business leader, who turned out to be Buffett."I freaked the f out and it was just incredible," she told Markets Insider in an interview this week.Banjo had read about Buffett's <a href="https://www.businessinsider.com/david-rubenstein-book-warren-buffett-carlyle-berkshire-key-investing-skills-2022-10">investment philosophy</a>, and the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-trillion-assets-big-tech-tesla-nvidia-2023-8">empire he'd built</a>, while she was working toward a master's degree in financial engineering at New York University a few years earlier. She respected his business principles, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-salary-compensation-berkshire-hathaway-stock-billionaires-wealth-munger-2023-3">frugal lifestyle</a>, and commitment to <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-philanthropy-gates-foundation-berkshire-hathaway-stock-shares-gifts-2023-6">give virtually all of his wealth to good causes</a>."He was almost a mythical character, the godfather of finance that doesn't exist," she recalled about her view of him at the time.Buffett paid for around 60 students from Emory and half-a-dozen other schools to visit his hometown of Omaha and learn about him and his company for a week. Their orientation was held at the Berkshire-owned Nebraska Furniture Mart, and Buffett joined them afterward for lunch in an unassuming cafe where the staff greeted him by saying, "Hey Warren!" The students also visited Buffett's home, seeing firsthand that he'd lived in the same house and driven the same station wagon for many years, Banjo said.Banjo seized the chance to speak with Buffett personally. The investor asked her about her ambitions, and she replied that she wanted to become the CFO of BMW — the most aspirational job she could imagine at the time.Buffett seemed disappointed. "Instead of just aspiring to be CFO of BMW, from the little I know about you, why not aspire to own BMW?" he asked, in Banjo's recollection. Buffett pointed out that a person had founded the German auto giant, and there was no reason why she couldn't build her own world-beating company too."I had never had that thought in my entire life," Banjo told MI. "The mindblown emoji — that was literally me.""That was one of the most monumental things anyone has ever said to me," she continued. "It's hard to quantify what impact that whole conversation has had on my life," she added, noting it "put the battery in my back about wanting to create a global enterprise."Banjo went on to launch a million-dollar fashion brand named Silver &amp; Riley, which specializes in stylish travel bags for businesspeople. The former strategy consultant at Accenture and Deloitte quit her job as vice president at Salesforce this month to run her company full time.Buffett, whom she counts as a mentor, has been very supportive of her plans. She's not only growing her business with a worldwide vision, but she also wants to build a legacy brand with lifetime customers, in line with Buffett's love of powerful brands like Coca-Cola and American Express.Banjo has also embraced Buffett's advice to do something she's passionate about, and to do it well, whether it's "selling widgets, paper clips, cars, or commercial real estate," she said.The founder balked at the idea of selling her company one day, but said she'd consider an offer if it came from Buffett.Banjo was a high flier before she met Buffett, but the simple act of him questioning her greatest aspiration made her realize she should aim even higher and dream even bigger.

Warren Buffett pushed a startup founder to dream bigger - and now she's dead-set on building a global fashion brand

New Delhi [India], December 21: While making significant strides in various sectors, there are leaders in India who are standing out for their work worldwide. The "Global <keyword id="397956" type="General" weightage="20" keywordseo="indian-leaders" source="Orion">Indian Leaders</keyword> 2023" list curated by World Brand Affairs has featured leaders from across the country who are known for their innovative, resilient, and persistent approach to functioning in their respective industries. These people are heading towards new heights and establishing standards for excellence. The list honors their outstanding efforts and accomplishments which have propelled their companies to unbound success. Their inclusion in the list highlights their exceptional abilities to navigate challenges, adapt to changing market trends, and consistently deliver groundbreaking results. Gaurav Munjal, CEO of Unacademy Gaurav Munjal is the co-founder and CEO of Unacademy, India's largest online learning platform. With a vision to democratize education, Munjal pioneered Unacademy's growth, transforming it into a leading ed-tech powerhouse. His innovative leadership has revolutionized accessible and quality education, empowering millions of learners across the globe. Kunal Shah, Founder of CRED Kunal Shah is the founder and CEO of CRED, a fintech startup revolutionizing credit card payments in India. As a serial entrepreneur, Shah previously founded FreeCharge, later acquired by Snapdeal. His innovative approach to creating rewarding credit experiences has helped CRED to redefine credit card usage while fostering financial literacy. Ashish Hemrajani, Co-founder and CEO of BookMyShow Ashish Hemrajis the co-founder and CEO of BookMyShow, India's leading online entertainment ticketing platform. Hemrajani's unique idea revolutionized the way people book tickets for movies, events, and live performances. His ingenious leadership transformed BookMyShow into a cultural phenomenon, reshaping the access to entertainment industry across the country. Fardin Sheikh, Managing Director at Wizence Group Fardin Sheikh is a seasoned professional with over 25 years of exemplary leadership experience, earning him recognition as a Distinguished Digital Transformation Leader. His dynamic career spans across various roles, showcasing a remarkable blend of strategic vision, project management acumen, and a strong commitment to driving digital innovation. Pariksha Rao, Founder of NuWe Starting as a Clinical Nutritionist, Pariksha Rao has morphed into various roles with the intent to help demystify and democratize healthcare. From maternal well-being to fetal health and tailored nutrition for weaning kids to teens, her work has helped impact over 200,000 lives over nearly two decades of her career. She continues to amplify her impact with NuWe. Poojaa Choprah, CEO and MD of Felix Impex Poojaa Choprah, a visionary CEO &amp; MD of Felix Impex Pvt Ltd., and founder of PNA ORIGINE, is renowned for strategic business acumen and market expansions. A trailblazer in entrepreneurship, her global fashion insights, artistic fervor as a Kathak dancer, and bespoke training expertise redefine success, weaving innovation and cultural fluency into her vibrant career. Amandeep Kaur Khangura, Director of Tru Prime Amandeep is a Canadian born entrepreneur who moved to India in 2011, and acquired Indian Citizenship to follow her passion to bring social empowerment in rural Punjab. During her time in Canada, Amandeep chaired HR &amp; Finance for a $500M project. Currently, in India, she operates Majara Dairy Farm which has 2,600 livestock and is the largest dairy farm operator in Punjab and one of the largest in India. Pt. Dr Sanjeev Kumar Srivastava, Nadi and Vedic Celebrity Astrologer Renowned globally as a luminary in Nadi and Vedic astrology, Pt. Dr. Sanjeev Kumar Srivastava is celebrated across 70+ nations for his remarkable precision in predictions &amp; teaching Nadi Astrology. With an illustrious career spanning 27 years, his astonishing success rate of 95-97% and expertise in Nadi Nakshatra Sutras exemplify his command in the celestial arts. Dr Prachiti Punde, Director of Proluxe Dr Prachiti Punde is a powerhouse in Integrated Medicine, Director of Proluxe Pvt Ltd, and Mrs. Universe Tolerance 2021. She transforms health and lifestyle with an exclusive GLAMOWELL multi-experience centre and revolutionizes wellness with patented tools and a unique mobile app. Along with being a spiritually blessed child, she is also an Anesthetist and mindskills Trainer with 15+ books published. Sanju Pudyandil, Founder of Whitespace Brand Consulting Sanju Pudyandil, a luminary in brand management and marketing, launched Whitespace Brand Consulting after honing his expertise at Ray+Keshavan, presently Super Union. Renowned for orchestrating transformative corporate revamps, he spearheaded impactful makeovers for illustrious brands like Canara Bank, Trident Hotels, J&amp;K Bank, Punj Lloyd, CEAT Tyres, and Fair &amp; Lovely, among others. Stuti Galiya, Partner at Khaitan &amp; Co. Stuti, an esteemed Advocate and solicitor, serves as a Partner at Khaitan &amp; Co., excelling in mergers &amp; acquisitions, private equity, corporate laws, commercial contracts, and foreign investments. Recognized as the "Luxury Retail Lawyer of the Year 2023" by APAC Insider, her expertise in the luxury retail sector marks her as an ingenious leader in the Asia-Pacific legal domain. Srividhya, Founder of HITECH Engineering Solutions (India) Srividhya, founder of HITECH Engineering Solutions (India) holds a deeply rooted legacy in Construction since 1998. Her indomitable optimism defied industry challenges, establishing a prominent platform despite male-dominated norms. Under her guidance, the company thrives as a certified SSI unit with ISO 9001:2015, ISO 14001:2015 &amp; OHSAS 4500: 2018 qualifications, renowned for cost-effective solutions nationwide and across Asia. Debabrata Sarkar, CMD at MicroAlgae Solutions Debabrata Sarkar is an agricultural innovator with 26+ years of global experience. Armed with a BCKVV agriculture degree and IIM Kolkata alumni status, he led strategic units for esteemed firms in Asia Pacific. He is currently serving as the CMD at MicroAlgae Solutions India Pvt Ltd, a subsidiary of AlgaEnergy Spain. Mogilipuri Krishna Chaitanya, Director at Wonder View Media As a Director at Wonder View Media Pvt Ltd, a CMPTL franchise specializing in IT services and Business Consulting, Mogilipuri Krishna Chaitanya facilitated substantial growth for his brother's business. With over 9 years of experience, he continues to excel as a Software Engineer at Tata Consultancy Services (TCS) and has made significant contributions to tech giants like Apple, Google, and more. Subhajit Banik, Founder of Birdlens Creation Subhajit ventured into photography in 2007 as a model, cultivating expertise in lighting and creative framing. Winner of the Glamhunt competition by ABP group in 2010, he founded Birdlens Creation in 2015. Specializing in wedding photography, Subhajit crafts timeless, emotive images reflecting couples' love and joy. Dr Rahul Mirchandani, Chairman &amp; Managing Director of Aries Agro Limited Dr Rahul Mirchandani, ranked among the 30 Most Innovative CEOs in India, has pioneered unique strategies to build 130+ Aries specialty crop nutrition brands. With a PhD in Management Studies, he teaches Marketing, Innovation, and Entrepreneurship across 50+ B-Schools. He plays key roles in CII's agriculture council, and key governmental panels and was the National Chairman of CII's Young Indians. Vinay Kumar Singh, Executive Director and CEO of Thomson Digital and Q&amp;I (India) Vinay Kumar Singh is the Executive Director and CEO of Thomson Digital and Q&amp;I, with over 30 years of industry expertise. He pioneered Thomson Digital in India and globally, founding associated companies and an education technology startup. Specializing in scientific and educational content, Vinay completed his Executive Training Programs at ISB Hyderabad. Saurabh Gupta, Founder &amp; CEO of Verismart.ai A 3-time entrepreneur and angel investor in 9 deep tech firms, Saurabh Gupta is now leading Verismart.ai which pioneer in blockchain-based Ad-tech/Data Interoperability platform with over 520M+ users data pipeline while ensuring privacy compliance. He also acquired dolphinchat.ai., and has been a speaker at 50+ global conferences talking about Blockchain and data privacy. Vikkas K Jha, Founder of Brand Kettle Vikkas K Jha, an ace marketing professional turned visionary entrepreneur, founded Brand Kettle amidst the pandemic. With expertise in Commercial Fitouts, Retail Roll-Outs &amp; experiential marketing, he expanded Brand Kettle's services, integrating 30+ brands, within 3 years. He is also driving impactful social change via the Brand Kettle Foundation's NGO initiatives. Atharva Bahadur, CEO of Drishti Pures Atharva Bahadur is the CEO of Drishti Pures in Lucknow. Under Atharva's leadership, Drishti Pures, a pioneering endeavor, engages abandoned, differently-abled children in producing Cold Pressed Oil and processing pure spices, aiming to foster self-reliance among them. Currently housing 260 abandoned children, Drishti remains the largest institution of its kind globally. Harsh Niwas, Manager Legal and Team Lead at Unitech Limited Harsh Niwas is an international consultant having more than 12 years of experience in the Real Estate and Mining industries. His expertise lies in project management, legal strategy, and stakeholder communication, delivering successful outcomes and operational efficiency. Known for strong leadership, negotiation, and collaboration skills, he ensures compliance and value creation within teams and organizations. Hussain Kalsekar, Founder and CEO of 366 DigitX Renowned for fostering enduring relationships with corporate decision-makers, Hussain Kalsekar has steered 366 DigitX to unparalleled heights. His client-centric approach has garnered him accolades globally. Recognized as one of the top 100 smartest digital marketing leaders by the World Marketing Congress, he was also recently honored among the Top 50 Global High Flyers and awarded as the Leader in Digital Marketing for 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

Global Indian Leaders of The Year 2023 as per World Brand Affairs

Meme stocks are back in fashion. Here's how to find one. 

<ul class="summary-list"><li>Lauren Sánchez may make her Met Gala debut on Monday, per reports. </li><li>An appearance at the bash would boost Sánchez's ascendance as a fashion figure.</li></ul>Lauren Sánchez is poised to walk the <a target="_blank" href="https://www.businessinsider.com/met-gala">Met Gala</a> red carpet for the first time on Monday — if media reports are to be believed.The Emmy-winning news anchor and philanthropist fiancée of Jeff Bezos will be in attendance at the preeminent fashion event, <a target="_blank" href="https://amyodell.substack.com/p/lauren-sanchezs-met-gala-debut">Amy Odell, a fashion journalist, reported</a>.Page Six also <a target="_blank" href="https://pagesix.com/2024/04/20/celebrity-news/anna-wintour-to-crown-jeff-bezos-lauren-sanchez-at-met-gala/">previously said</a> that Anna Wintour, the Met Gala host and Condé Nast's global chief content officer, was wooing Sánchez to attend.A representative for Sánchez declined to confirm to Business Insider if she'd attend.This year's Met Gala theme is "Sleeping Beauties: Reawakening Fashion," <a target="_blank" href="https://www.vogue.com/article/everything-to-know-met-gala">Vogue reported</a>, and the dress code has been dubbed "The Garden of Time."Bezos has appeared at the Gala in the past. It's one of the year's most important nights in fashion where celebrities mingle in outrageous outfits.Amazon was the sponsor of the 2012 Met Gala; Bezos <a target="_blank" href="https://www.businessinsider.com/met-gala-hosts-co-chair-list#2012-carey-mulligan-12">served as an honorary chair</a>. He also attended in 2019.As <a target="_blank" href="https://www.businessinsider.com/how-lauren-sanchez-style-has-evolved-2024-4">Business Insider's Amanda Krause previously reported</a>, Sánchez is a rising fashion star. Her style has evolved in recent years: While she leaned toward simpler outfits early in her career, Sánchez has brought bold choices to the red carpet since 2010.Semi-sheer and see-through dresses have become staples of her wardrobe. Last month, Sánchez and Bezos <a target="_blank" href="https://www.businessinsider.com/jeff-bezos-lauren-sanchez-white-house-state-dinner-japan-pm-2024-4#:~:text=Jeff%20Bezos%20and%20fianc%C3%A9e%20Lauren,a%20lavish%20White%20House%20dinner&amp;text=The%20former%20Amazon%20CEO%20joined,minister%20of%20Japan%2C%20Fumio%20Kishida.">turned heads</a> at a White House state dinner when Sánchez wore an off-the-shoulder gown with a corseted bodice.Another sign of her ascendance as a bona fide celebrity?After Sánchez was insulted by the New York City restaurateur Keith McNally on Instagram, <a target="_blank" href="https://www.businessinsider.com/lauren-sanchez-not-to-be-trifled-with-keith-mcnally-learned-2024-4">several high-profile friends</a> rushed to her defense, including Chrissy Teigen, Jessica Seinfeld, and Stephanie Ruhle.

The Met Gala could cement Lauren Sánchez's rise as a fashion star

<ul class="summary-list"><li>The fashion industry may soon face new legislation that requires sustainability transparency.</li><li>Cloud computing could allow fashion companies to share data and reduce production waste.</li></ul>Across the fashion industry, companies are steeling themselves for the potential passage of the <a target="_blank" href="https://www.ebu.ch/news/2024/04/new-edition-of-the-sustainability-rulebook-the-green-claims-directive">EU Green Claims Directive</a>, which could happen as early as next year.The directive would require brands making sustainability claims to back them up with evidence and to label products accordingly. The GCD would have global implications, as it would extend to all businesses advertising to EU consumers.The GCD still faces multiple hurdles, but if passed, it would force long-overdue change in the industry. Under the directive, consumers should be able to visit a website or scan a QR code to see proof of a garment's fabric composition or how it was created.But before that can happen, brands need to be able to source and share sustainability data internally and with retail partners. Cloud computing could be key to doing this in a detailed and efficient way.<h2 id="b940d494-436c-4b45-b035-fdf68c792ba5">Cloud computing is gaining traction</h2><a target="_blank" href="https://www.businessinsider.com/guides/tech/what-is-cloud-computing">Cloud computing offers on-demand services</a>, from storage to software, over the internet. It's been billed as a major cost-cutting measure for companies because they can pay for the services they need, rather than rely on in-house servers. It's also a way to streamline processes by collecting data into one easily accessible hub.The cloud-computing industry is growing rapidly, and analysts predict it could <a target="_blank" href="https://www.mordorintelligence.com/industry-reports/cloud-computing-market">more than double</a> in value between now and 2029. And the fashion industry has gradually been waking up to the <a target="_blank" href="https://www.businessinsider.com/artificial-intelligence-technology-sustainable-textile-recycling-solutions-2024-6">potential of cloud computing</a>. In recent years, heavyweights like Mulberry and Net-a-Porter have begun working with Eon, a cloud-powered tech company that specializes in <a target="_blank" href="https://www.eon.xyz/press/top-fashion-brands-introduce-digital-ids-powered-by-eon-to-unlock-intelligence-commerce-and-sustainability">Digital IDs</a>, QR-code labels that can be scanned for detailed information, product authentication, and customer-focused extras, such as suggestions on how to style the looks. Meanwhile, <a target="_blank" href="https://dressx.com/">DressX</a>, which allows users to "wear" digital garments in photos and videos, uses Google Cloud.Still, there's been little focus on cloud computing when it comes to sustainability data. Bharati Rathore, a management lecturer at the University of South Wales, is one expert who's spreading the word. In her report, "Fashion Transformation 4.0: Beyond Digitalization &amp; Marketing in Fashion Industry," she said that <a target="_blank" href="https://eduzonejournal.com/index.php/eiprmj/article/view/234">the fashion industry must embrace new technologies</a> in order to survive.Rathore said cloud computing is a way to "store and manage large volumes of data efficiently — everything from customer preferences and purchasing behavior to inventory levels and supply chain details." She added that it offered a <a target="_blank" href="https://www.businessinsider.com/amazon-google-microsoft-ai-future-data-centers-monopoly-tech-industry-2024-6">central place for data sharing</a>, making it easier for workers around the world — design teams and retail managers, for example — to stay up-to-date with each other.If <a target="_blank" href="https://www.businessinsider.com/cloud-industry-splitting-into-2-distinct-parts-2024-2">harnessed properly</a>, cloud computing is one of a handful of digital tools that could "revolutionize the way we design, produce, and consume fashion," Rathore said in her report.<h2 id="9e95c438-fbb2-4b1e-b73f-185219145eb5">Moving toward transparency</h2>It's no secret that the fashion industry has historically shied <a target="_blank" href="https://www.businessinsider.com/fast-fashions-mountain-leftover-clothes-chile-desert-seen-from-space-2023-5">away from transparency</a>. This is slowly changing, thanks partly to companies like Fashion Cloud, an insights platform that works with over 700 fashion brands and 25,000 retailers.Using cloud computing, Fashion Cloud collects data and insights, and then makes them easily accessible for all parties — from website designers, who upload and describe products onto brand websites, to retail managers, who handle shop-floor operations. The company works with brands from the mass-market online retailer Zalando, <a target="_blank" href="https://www.statista.com/statistics/370657/zalando-active-buyers/">which averages around 50 million customers per quarter</a>, to Studio Anneloes, a Dutch design house that features a "footprint" tab on every product that indicates its environmental impact."Fashion is a terribly old-fashioned industry," Alies ter Kuile, the cofounder of Fashion Cloud, said. "Every retailer has their own process, so nothing is standardized. What we do is ensure retailers are getting key product and sustainability data from brands, and we help brands on that journey, too."The GCD is intended to be a crack down on greenwashing and vague, hard-to-substantiate <a target="_blank" href="https://www.greenpeace.org.uk/news/fashion-greenwash-report-companies-hiding-true-environmental-costs-fast-fashion/">claims of "eco-friendly" clothes</a>, but it's a huge hurdle for brands accustomed to opacity. According to ter Kuile, only 50 of the brands that Fashion Cloud works with "share sustainability data in an automated way." Meanwhile, she added, "another 350 have the sustainability data, but they can't share it yet."Communication is a core issue when it comes to letting customers know exactly <a target="_blank" href="https://www.businessinsider.com/ai-fashion-trends-artificial-intelligence-style-brands-2024-2">where their clothes come from</a>. "Brands and retailers are asking for the same information," ter Kuile said, referring to where the clothes were made and how many units have been sold. "But they're currently doing that in different spreadsheets. We're trying to automate these processes."<a target="_blank" href="https://www.businessinsider.com/artificial-intelligence-helping-amazon-shopify-sellers-2023-11">Simplicity is key</a>, too. Ter Kuile said the average age of fashion buyers — retail reps who decide which pieces are stocked in department stores and online shops — is between 50 and 60. "Typically, the people using our tools are people who don't like software, so everything needs to be intuitive," she added. "You can't have five different brands with five passwords — forget about it! The process has to be the same, and it has to be simple."<h2 id="4dcaf6a8-3aaa-4f02-91c2-da9768b9bb56">Benefits for clothing retailers</h2>Cloud computing also provides key benefits for retailers. "For fashion retailers, quick, data-driven decisions are essential for inventory management, store expansion, and market adaptation," Alan Holcroft, the UK manager of Cegid, a cloud-computing business, told Business Insider. Cegid supports over 85,000 retailers, including the <a target="_blank" href="https://www.cegid.com/global/case-studies/how-french-fashion-house-cotelac-win-customers-with-omnichannel-across-all-touchpoints/">French fashion retailer Cotélac</a>.Easy access to buying data means retailers are more likely to purchase only what they can realistically sell. For example, if a dress has moved only 10 units in one location in a month, it's wildly unrealistic to buy 500 and expect them to be sold. With cloud computing, retailers can avoid overbuying stock — a key driver of <a target="_blank" href="https://www.businessinsider.com/fast-fashion-christmas-shopping-clothes-returns-shein-zara-waste-mountain-2022-12">fashion's textile-waste problem</a>. (It's no secret that brands would sometimes <a target="_blank" href="https://www.eea.europa.eu/publications/the-destruction-of-returned-and">rather set fire to unsold stock</a> than discount their prices.)None of this is to say that cloud computing is inherently sustainable. Steven Gonzalez Monserrate, a cloud anthropologist, said in a <a target="_blank" href="https://thereader.mitpress.mit.edu/the-staggering-ecological-impacts-of-computation-and-the-cloud/">2022 research report</a> that data storage has a "greater carbon footprint than the airline industry." Cloud computing is reliant on data centers, which require energy-intensive air conditioning to prevent servers from overheating. These centers also require irrigation, sometimes <a target="_blank" href="https://www.businessinsider.com/google-water-use-soaring-ai-make-it-worse-data-centers-2023-7">guzzling up water</a> resources needed by local communities.There are still many fashion brands that seem ill-equipped to address the GCD's requirements. Ter Kuile said part of the problem is that too many conversations in the fashion industry focus on abstractions rather than action.Data-sharing through cloud computing — while by no means perfect — is a practical step that allows information to be tracked at every level of product creation and, crucially, shared with customers who need it."We don't need inspiration to be more sustainable and transparent," ter Kuile said. "We need processes that enable us to actually do it."

The fashion industry needs better sourcing and waste practices — fast. Cloud computing could be a long-term fix.       

Celebrity <keyword id="6355614" type="General" weightage="20" keywordseo="fashion-designer" source="Orion">fashion designer</keyword> <keyword id="121020" type="General" weightage="20" keywordseo="masaba-gupta" source="Orion">Masaba Gupta</keyword>’s <keyword id="1590914" type="General" weightage="20" keywordseo="podcast" source="Orion">podcast</keyword> on Luminary—the world’s leading subscription-based podcast and audio entertainment network—has been making waves. Titled <a href="https://luminarypodcasts.com/india&amp;country=IN">‘How I Masaba’</a>, the podcast is hosted by the designer-cum-actor-cum-entrepreneur and has conversations full of lessons, epiphanies, and fun stories. In the spirit of talking with badass entrepreneurs who’ve made it big, Masaba Gupta recently invited Anita Dongre—one of the biggest fashion names in the country—to her podcast. So, what happens when these two powerhouse designers sit down to talk? Masaba Gupta begins by commenting on how looking at young designers starting their journey today makes her take stock of how much the industry has evolved over the years. She is also quick to credit her peers in the fashion industry for laying the foundation, which is making it easier for the rising designers. <keyword id="407" type="General" weightage="20" keywordseo="anita-dongre" source="Orion">Anita Dongre</keyword> is one of the few who’ve done just that, and has managed to create a retail giant not just in India, but also in the US. From Priyanka Chopra and Kareena Kapoor to Kate Middleton and Beyonce, she’s dressed both national and international celebrities and is one of the early movers who raised institutional money at a time when it was unheard of for designers. India on my mind! Since Dongre forayed into the world of fashion, a lot has changed in the Indian fashion landscape, with new designers entering, old ones reinventing themselves, and the industry as a whole evolving. But most of what Dongre continues to do, Masaba points out, is done keeping India in mind. Masaba asks Dongre, “Why aren’t more Indian designers getting the recognition they deserve?” “It’s high time! So many designers have opened up their stores in New York or are in the process of doing so. A lot of my contemporaries have also told me that Indian designers are now looking to open their stores in other cities as well,” shares Dongre. She also adds that she expects the coming years to bring a lot of attention and acclaim to Indian designers. Anita Dongre says, “The next decade is going to be the India decade. For years, Indian fashion designers have been ignored in the international fashion scene. Today, I feel so proud looking at the plethora of talent in our country and the work that Indian designers are coming up with.” She believes that the setting up of NIFT 25 years ago is now coming to fruition with brilliant designers from India making their mark in the global fashion industry. Creativity and business Masaba questions Anita on how she ensures a balance between art, commerce and creativity, to which Dongre said: her consumer’s happiness is of utmost importance. She added that she designs clothes that would fit the consumer’s lifestyle and something which Dongre herself would be proud to wear. Discussing fashion in the Indian context, the two creative women share their views on how teaching more Indian designers at Indian colleges would be a good way of helping the next generation of the country which wants to be associated with fashion. They also ponder on the need for a change in the education sector to leverage the potential of the tonnes of allied professions, other than design, in fashion. Beyond perfectionism: Going inward Anita Dongre has been charting paths for designers, new and old. Citing Giorgio Armani as her inspiration for having an acute love for life, Dongre believes that with her, “the best is yet to come.” She also shares that when life seems chaotic or overwhelming, she likes to look inward and create boundaries. As someone who’s constantly pushing the ceiling for Indian designers, Dongre continues to unlock new frontiers in the country &amp; across the world, putting Indian fashion on the global stage. Disclaimer: <keyword id="10602581" type="General" weightage="20" keywordseo="luminary" source="Orion">Luminary</keyword> has partnered with Times Bridge to scale and expand its reach in India. Business Insider is a part of Times Bridge, a company of Times Internet Limited.

The India decade for fashion on the global stage: Anita Dongre in conversation with Masaba Gupta on a Luminary podcast

<keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> Limited (ABFRL), India's leading fashion company, today announced a partnership with Christian Louboutin, one of the world's most famous <keyword id="19734234" type="General" weightage="20" keywordseo="shoe-designers" source="Orion">shoe designers</keyword> known for his high-end <keyword id="23820" type="General" weightage="20" keywordseo="footwear" source="Orion">footwear</keyword> and iconic soles. This joint venture envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake. Founded in 1991 in the heart of Paris, Christian Louboutin is one of the leading names in global luxury, world famous for its signature red sole shoes. Christian Louboutin has successfully diversified its business into men's footwear, <keyword id="939668" type="General" weightage="20" keywordseo="leather-goods" source="Orion">leather goods</keyword> &amp; <keyword id="23964" type="General" weightage="20" keywordseo="accessories" source="Orion">accessories</keyword>, beauty and kids. Christian Louboutin has established its retail presence in over 30 countries. "We are excited to partner with ABFRL's team and look forward to working with them to manage and develop the business in India which is an extremely important market for us," commented Alexis Mourot, Christian Louboutin's Group CEO. Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Limited commented, "We are thrilled to announce our strategic alliance with Christian Louboutin, a true icon in luxury footwear. This partnership reflects our commitment to offering our discerning customers the very best in elegance and style. It also exemplifies our ambition to develop and shape the future of the luxury market in India." "We are excited to welcome Christian Louboutin into the ABFRL family and building a strong platform for the brand in India. The brand's distinctive style and craftsmanship appeals to a discerning Indian audience that is growing rapidly," Sathyajit Radhakrishnan, CEO of International Business, Aditya Birla Fashion and Retail Limited. Christian Louboutin established his business in the heart of Paris in 1991, first with a collection for Women followed by a Men's collection a few years later, both recognizable by the signature red lacquered sole. 2014 welcomed Christian Louboutin Beaute, while in, 2022 the House launched new categories dedicated to Kids and Pets. With a prolific collection of shoes, leather goods and accessories, Christian Louboutin now counts more than 150 points of sales around the world. ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 12,418 Cr. spanning retail space of 10.8 million sq. ft. (as on March 31, 2023), it is India's first billion dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. The Company has a network of 3,977 stores across approximately 33,535 multi-brand outlets with 6,723 point of sales in department stores across India (as on 31st March 2023). It has a repertoire of India's largest brands in Louis Philippe, Van Heusen, Allen Solly and Peter England, established over 25 years. Pantaloons is one of India's leading fashion retailer. The Company's international Brands portfolio includes - The Collective, Amongst India's largest multi-brand retailers of international brands and has long term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok and Galeries Lafayette. Van Heusen Innerwear, Athleisure and Active wear is establishing itself as India's most innovative and fashionable brand. The Company's foray into branded ethnic wear business includes brands such as Jaypore, Tasva &amp; Marigold Lane. The company has strategic partnerships with Designers 'Shantnu &amp; Nikhil', 'Tarun Tahiliani', 'Sabyasachi' and 'House of Masaba'. In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of Digital-first brands under its technology led 'House of D2C Brands' venture TMRW. TMRW is on a path to building a portfolio of Digital First brands in partnership with founders of emerging brands in the E-Commerce market. With a focus on Fashion &amp; Lifestyle categories, TMRW is building a portfolio of the most loved consumer brands that tap into the significant growth potential in India and globally.

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