Happy Friday! This week, we cover the UAW’s probable victory lap. But first:
📡ON OUR RADAR
Kim Kardashian's Skims, the shapewear company now valued at over $4 billion, has had a busy week. Not only did the brand become the official underwear sponsor of the NBA, but they also announced a Swarovski collaboration that will feature crystal-encrusted garments available online and in brick & mortar stores. The Kardashians are no strangers to strategic partnerships. This week’s moves prove the Skims brand is as pliable as its product.
Saudi Arabia will most likely host the 2034 World Cup after Australia withdrew its bid, leaving the Saudis as the sole remaining bidder. FIFA's accelerated bidding timeline and Saudi Arabia's strong backing from FIFA member nations contributed to this outcome. As Saudi Arabia's influence in sports and desire to alter global perceptions grows, human rights groups continue to criticize FIFA for not conducting due diligence in advance to avoid this situation.
Adidas is capitalizing on the revival of its retro Samba sneakers as it seeks to recover from the loss of its once-promising, now-shuttered Yeezy partnership with Kanye West. The classic Samba, which originated as a soccer shoe in 1950, is back en vogue—worn by celebrities and fashion icons alike. The company's shares have surged by 30% this year due to the shoe’s popularity, but maintaining the Samba's newfound traction will be the brand’s next challenge.
💡ON OUR MINDS: UAW Efforts Accelerate into Victory
Credit: Getty Images
Earlier this week, Ford, Stellantis, and General Motors all agreed to pay their unionized workers a 25% pay raise. While a few details are still being ironed out, it’s looking like these negotiations (and the six-week strike behind them) will result in a historic win for US labor.
PR Week rounded up the succinct, careful communications from each of the auto giants on the tentative deal. Both Ford and Stellantis noted that complete details on the deal would come from the union, who will share them directly with membership.
UAW and their leader Shawn Fain have successfully taken on the legacy automakers, but what about Tesla and Elon Musk? The Wall Street Journal notes that different executives require different tactics.
Even if UAW can’t crack Tesla, the New York Times argues that this win in Detroit could signal a sea change for labor movements across industries.
As labor relations evolve in the country, it’s important to have corporate messaging on lock. Perhaps take a lesson from Stellantis, who dedicated an entire website to union negotiations.
🥊QUICK HITS:
In case you missed these reads.
Food companies are expanding into beauty to spark new brand excitement (see: Kosterina’s body oil, Poppi’s lip oils, and Froot Loops’ scented nail polish).
BuzzFeed Inc. is in talks to sell Complex Media to ecommerce platform Ntwrk for $140 million.
Ethical concerns around deepfakes continue as ESPN falls under scrutiny for sharing a doctored video of Damian Lillard.
Thanks for reading,
HL
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