Black consumers who drive more than $9 billion in beauty product spending annually these tariffs are having a major impact. Many of the beauty brands they shop with rely on affordable packaging, containers, and raw materials from abroad, and these new cost burdens threaten to push smaller players out of the market.
Hip-hop icon Eve is parting ways with her music catalog for an eight-figure deal, in the ballpark between $25 million and $50 million
Art collectors are adjusting their investment strategies downwards because of the unpredictable and ongoing economic changes. 2023 saw them slash their investment portfolios to 19% from 24% in 2022. This takes a toll on the already declining Black artists’ representation in global auction sales which currently stands at at 1.9% from 2008 to mid-2022.
Black individuals consistently account for the share of America’s sneaker sales each year. However, Black retailers hardly profit from the industry’s increasing valuation that pulled in $88.9 billion in 2023, as a result of being boxed out of the sneaker market by traditional establishments.
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