News ⚡ — Friday, October 4
Nike claims Skechers’ entire business model is based on copycatting. Fashion leaders see the industry’s superficiality around race in BoF’s actions. Instagram launches the Threads app for your closest friends.
1. ⚖️ New Nike Lawsuit: Skechers’ entire model is based on “copying its competitors’ designs.”
In the past, Nike called foul on Skechers for allegedly knocking off its knitted Flyknit sneakers, and infringing on eight of its patents that protect those technology-driven shoes. This time around, Nike has taken issue with Skechers’ continued practice of manufacturing “Skecherized versions” of Nike sneakers, including blatant replicas of its VaporMax and Air Max 270 designs, and has filed a patent infringement suit as a result.
2. 😕 BoF wanted to celebrate diversity, but fashion leaders saw more of the industry’s superficiality around race.
At the BoF 500 gala, the theme was that fashion needs to prioritize diversity and not just treat it as the latest trend. But to some guests, including designer Kerby Jean-Raymond of Pyer Moss, The Business of Fashion was guilty of just that. In a series of Instagram Stories posted at the event and the following day, Jean-Raymond said that he was disassociating himself with BoF, accusing the publication and its editor-in-chief, Imran Amed, of cultural appropriation and exploitation. Here the BoF addresses the issue introduced by various influential players in the fashion space.
3. 📱 Instagram launches Threads, a Close Friends chat app with auto-status.
Launching globally on iOS and Android, the app is limited to your Close Friends list, although you can still just use Instagram Direct in the main app. It also uses Facebook’s “Your Emoji” status feature as well as and Auto Status to start conversations or give hints as to availability and reasons for not responding right away.
4. 📉 WeWork expected to announce major layoffs
News of potential layoffs come about two weeks after co-founder and chief executive officer Adam Neumann resigned and the company postponed its initial public offering. WeWork revealed an unusual IPO prospectus in August. Despite financials showing losses of nearly $1 billion in the six months ending June 30, the company still managed to accumulate a valuation as high as $47 billion, largely as a result of Neumann’s fundraising abilities.
5. 🖼️ Banksy’s Chimp Parliament painting sells for a startling $12 million, prompting both cheers and jeers
Among the early bidders were Warhol/Basquiat/Hirst trader-collector Jose Mugrabi and Turkish banker Halit Cingillioglu, who first took the price beyond the low £1.5 million estimate. But they were soon submerged beneath a torrent of telephone bids—and one persistent bidder at the back of the room—until the Banksy fell to the phone manned by Emma Baker, Sotheby’s head of sale.
6. 📷 Sony announces new ultra-fast A9 II camera for $4,500
The traditional mechanical shutter has doubled in speed and is now capable of shooting at 10 fps, which will be useful for photographers who rely on flash sync or find themselves under flickering lights. A few other specs have brought the A9 II in line with the higher-res A7R IV: 5.5-stop in-body stabilization, improved dust and water resistance, and the touchscreen interface should all now be the same across the two cameras. Sony also says the AF tracking has improved, thanks to a new algorithm. This is the camera few people will ever need and introduces itself as one extremely capable tool for those who work in the extremes of photography.
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