The story behind the Yeezy-Gap (GPS +1.09%) billion war is a beautiful dark illustration of cultural hype clashing with business. Kanye West, known as Ye, is alleging the retailer had breached the terms of their agreement. Wells Fargo stated initial estimates of Gap’s Yeezy line could bring in almost $1 billion in sales next year, far ahead of the $1 billion Gap was aiming for by 2025. The partnership between Gap and Yeezy that has now been terminated was set to continue through 2026.
For the first time in California and American history, the state will break down Black employee data by lineage. A historic and transformational leap forward for California residents and Americans descended from the progeny of the nearly 4 million African Americans enslaved in the U.S. who were designated the political status of American Freedmen after emancipation. Today, the average white family has roughly 10 times the amount of wealth as the average Black family and in recent years the state has been working to determine whether the state will pay reparations to Black Californians, particularly those who are descendants of slaves. California is taking steps to change that.
The hot topic this season: supply chain and the ongoing issues. Although the Labor Department released data proving consumer prices had already risen 8.6% over the past 12 months, costing the average American household $175 a month. Economists and analysts have started selling supply chain myths to keep consumers paying inflated prices right into the Christmas holiday, which could hit the Black community harder than others. Let’s dig into three supply chain myths.
By Brooke Sinclair Supply chain tech startups raised $24.3B in venture funding in the first three quarters of 2021 Funding for Black founders has not sustainably moved past the 2% mark Before Covid, there were only a handful of investors who understood logistics or were comfortable investing in supply chain platforms and now the tides
By Brooke Sinclair Ye’s high-end clothing companies Yeezy and Yeezy Apparel have just settled a $950K lawsuit for slow product shipping The Yeezy brand most likely suffered from the same supply chain delays as the rest of the world, but failed to communicate or accommodate its customers Billboard estimates rapper and fashion mogul Kanye West
By Brooke Sinclair Supply chain myths keeping consumers paying inflated prices right into the Christmas holiday, which could hit the Black community harder than others Consumer prices had already risen 5.4% over the past 12 months, costing the average American household $175 a month Seasons are changing as the sun has set on Hot Girl
By Brooke Sinclair Gap resorted to pre-orders to validate and capture customer demand while eliminating the risk of overproduction for Yeezy’s $200 puffer jacket The Yeezy line could bring in almost $1B in sales next year, far ahead of the $1B Gap was aiming for by 2025 It has been almost a year since The
By Brooke Sinclair Goldman Sachs $10B investment focuses on the intersectionality of Black women in the economy, business, and culture The fastest way to accelerate change and effectively begin to address the racial wealth gap is to listen to and invest in Black women Goldman Sachs is putting $10 billion behind the fight to equalize
By Brooke Sinclair Ulta pledges $25M to double the number of Black-owned brands in its stores Only 8 of nearly 300 brands (2.6%) sold by the Sephora are Black-owned In the latest game of ‘Follow the Leader’, Ulta Beauty (ULTA -1.06%) announced a $25 million initiative to reflect the country’s diversity by doubling the number
By Brooke Sinclair Bain Capital, GGV Capital and Kleiner Perkins have only invested in 1 Black-led company It takes a founder of color 12–36 months longer to raise capital than their white counterparts Venture capitalists advise portfolio companies not to spend too much time fundraising, but is that advice applicable to founders of color? Only