Wednesday Newsrush Featuring Kering Group Donations To BLM
It’s CULTED with your NEWSRUSH for this Wednesday Morning.
First up, fashion is finally beginning to take BLM support action, and the Kering group is leading the way. In addition to Kering’s commitments to the NAACP, both Gucci and Alexander McQueen will also be donating to the organisation and Campaign Zero, with Gucci also donating to Know Your Rights.
Balenciaga has also set up an annual donation to the NAACP and has created a fund in France “to support local actions against racism”. Balenciaga has made a commitment of continued donations in support of the #BlackLivesMatter movement and we hope to see more brands follow.
Next up, LVMH’s $16.2Bn offer to acquire Tiffany’s is now uncertain due to the deteriorating U.S market, and current global situation. LVMH board members met last night and while they didn’t reach a conclusive decision, they made it clear that the deal is on the rocks.
In other news, Boohoo is facing a $100M lawsuit after US lawyers have claimed the brand is misleading shoppers by creating “sham sales”, using fake original prices to make the new sale prices appear greater.
That’s all for this morning it’s Sam with CULTED. We will be joining the BLM protest in London today. Follow from 1pm BST for coverage.
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