Business – Brev Magazine https://brevmag.com Where Culture Lives Thu, 19 Oct 2023 20:21:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.5 https://i0.wp.com/brevmag.com/wp-content/uploads/2021/08/image.jpg?fit=32%2C32&ssl=1 Business – Brev Magazine https://brevmag.com 32 32 196827943 Costco Accused Of Sharing Customers Health Data With Meta https://brevmag.com/costco-accused-of-sharing-customers-health-data-with-meta/ https://brevmag.com/costco-accused-of-sharing-customers-health-data-with-meta/#respond Wed, 11 Oct 2023 20:08:55 +0000 https://brevmag.com/?p=50368 Costco is facing a lawsuit in a Seattle federal court, which alleges that the company provided customer information to Meta (formerly known as Facebook) without obtaining customer consent. This alleged sharing of private data occurred through the installation of Meta’s analytical tool, Meta Pixel, on Costco’s website.

Meta Pixel is a technology that tracks website visitors and their activities. It provides businesses with insights into the effectiveness of their advertising efforts. In this case, the lawsuit claims that Costco used Meta Pixel in its healthcare section, where customers can order or refill prescriptions. This has raised questions about why this technology would be used in a healthcare context.

The lawsuit contends that through Meta Pixel, Meta gained access to customers’ prescription data, treatment information, health insurance details, and location information. As the story develops we will keep you updated.

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Tesla Cuts Prices On US Models After Missing Delivery Goals https://brevmag.com/tesla-cuts-prices-on-us-models-after-missing-delivery-goals/ https://brevmag.com/tesla-cuts-prices-on-us-models-after-missing-delivery-goals/#respond Sat, 07 Oct 2023 20:16:55 +0000 https://brevmag.com/?p=50373 Tesla has reduced the prices of its Model 3 compact sedan and the Model Y SUV in the United States. This price reduction is part of Tesla’s strategy to boost sales and maintain competitiveness in the market.

The standard Model 3 sedan is now priced at $38,990, which is $1,250 cheaper, and the Model Y long-range variant is now priced at $48,490, representing a $2,000 price reduction. These cuts range from approximately 2.7% to 4.2%. Tesla initiated a series of price cuts starting in January, aimed at supporting sales and staying competitive, especially against automakers like Ford and Chinese automaker BYD.

Tesla’s recent price reductions come after the company faced challenges in meeting market expectations for third-quarter deliveries. The automaker has set an ambitious target of delivering 1.8 million vehicles in 2023, which requires the delivery of a record 476,000 vehicles in the last three months of the year.

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Elon Musk Says He Will Be Implementing Paywall On Twitter https://brevmag.com/elon-musk-says-he-will-be-implementing-paywall-on-twitter/ https://brevmag.com/elon-musk-says-he-will-be-implementing-paywall-on-twitter/#respond Tue, 19 Sep 2023 14:54:54 +0000 https://brevmag.com/?p=37446 Elon Musk is reportedly considering a significant alteration to X, the platform formerly known as Twitter. During a conversation with Israeli Prime Minister Benjamin Netanyahu on September 18th, Musk mentioned that X was exploring the possibility of introducing a “small monthly payment” as a measure to combat bots on the platform. This move could potentially help reduce automated and spammy accounts on the social media platform.

“It’s the only way I can think of to combat vast armies of bots,” Musk explained, per TechCrunch. “Because a bot costs a fraction of a penny, call it a tenth of a penny, but even if it has to pay…a few dollars or something, the effective cost of bots is very high,” he added.

While Elon Musk did not provide specific details regarding the cost of the proposed monthly fee for X, he indicated that it would be a “small amount of money.” His interest in introducing paid subscriptions and exploring alternative monetization strategies for X has been evident since he acquired the platform last year. The existing X Premium, formerly known as Twitter Blue, is priced at $8 per month and offers subscribers access to various features, including a blue checkmark, post-editing capabilities, and prioritized visibility in conversations and searches, among others. It remains to be seen how this potential new subscription model would align with existing premium offerings on the platform.

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YoungBoy Never Broke Again Teases New Collaboration With Supreme https://brevmag.com/youngboy-never-broke-again-teases-new-collaboration-with-supreme/ https://brevmag.com/youngboy-never-broke-again-teases-new-collaboration-with-supreme/#respond Sun, 13 Aug 2023 13:11:32 +0000 https://brevmag.com/?p=27112 Streetwear brand Supreme has teased a potential collaboration with rapper YoungBoy Never Broke Again. The brand shared images on Instagram featuring YoungBoy wearing Supreme’s classic box logo tee and a black hoodie alongside a child. The caption read “NBA YoungBoy for Supreme, 2023,” suggesting a potential collaboration between the rapper and the streetwear giant. While no further details have been provided, the teaser has generated excitement among fans of both Supreme and YoungBoy Never Broke Again.

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Coach To Acquire Versace Ownership In $8.5 Billion Deal https://brevmag.com/coach-to-acquire-versace-ownership-in-8-5-billion-deal/ https://brevmag.com/coach-to-acquire-versace-ownership-in-8-5-billion-deal/#respond Fri, 11 Aug 2023 10:07:09 +0000 https://brevmag.com/?p=27062 Tapestry Inc., a luxury conglomerate based in New York City, has revealed its intention to acquire Capri Holdings, a fellow fashion company, in an $8.5 billion deal. This merger will unite well-known brands such as Coach, Kate Spade, and Stuart Weitzman from Tapestry with Versace, Michael Kors, and Jimmy Choo from Capri Holdings. Following the merger, all these renowned fashion labels will operate under the Tapestry umbrella. The announcement of the acquisition comes after approval from the boards of both companies and is expected to be finalized in 2024, pending approval from Capri’s shareholders.

The combined revenue of Tapestry and Capri Holdings stands at approximately $12 billion, spread across more than 75 countries. The proposed deal is expected to result in around $200 million in cost synergies within a three-year period. As per reports, on the day of the announcement, Capri’s stock price surged from $19.35 to $53.96, whereas Tapestry’s shares experienced a 12 percent decline, falling to $36.38. Shareholders of Capri Holdings are set to receive $57 per share in cash.

Both companies’ executives have indicated that the acquisition will bolster Tapestry’s competitive position against fashion giants like Kering and LVMH Moët Hennessy Louis Vuitton. Upon the successful completion of the merger, Tapestry will become the fourth-largest luxury company globally and the second-largest in North America, following LVMH.

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Elon Musk Confirms X Won’t Leave San Francisco Despite City Facing Challenges https://brevmag.com/elon-musk-confirms-x-wont-leave-san-francisco-despite-city-facing-challenges/ https://brevmag.com/elon-musk-confirms-x-wont-leave-san-francisco-despite-city-facing-challenges/#respond Mon, 31 Jul 2023 15:30:41 +0000 https://brevmag.com/?p=26753 Billionaire tech mogul Elon Musk has confirmed that Twitter, which he is rebranding as “X,” will keep its headquarters in San Francisco, despite the challenges the city is currently facing with major businesses leaving and the economy plummeting.

Musk, along with a group of investors, took Twitter private in a significant $44 billion deal last year. Despite receiving enticing offers from other locations trying to attract the company, Musk stated in a tweet on Saturday that Twitter, now known as “X,” will not be moving its headquarters from San Francisco.

The decision to remain in San Francisco showcases Musk’s commitment to the city, even amid concerns about a “doom spiral” as several companies have recently left or are leaving. By choosing to stay, “X” is signaling its determination to maintain its roots in the city and contribute to its economic and social landscape.

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Shark Tank’s Daymond John Granted Restraining Order Against Former Contestants https://brevmag.com/shark-tanks-daymond-john-granted-restraining-order-against-former-contestants/ https://brevmag.com/shark-tanks-daymond-john-granted-restraining-order-against-former-contestants/#respond Sun, 23 Jul 2023 16:33:20 +0000 https://brevmag.com/?p=26494 Celebrity investor and “Shark Tank” star, Daymond John, has been granted a temporary restraining order against three former contestants he partnered with on the show. The contestants, ex-NFL defensive end Al “Bubba” Baker, his wife Sabrina, and daughter Brittani, allegedly made disparaging remarks about their experience with John on social media, referring to it as a “nightmare.”

The court order, issued in New Jersey federal court, prohibits the Bakers from making any further public statements or comments about their interaction with Daymond John following their appearance on the ABC reality TV show in 2014. This restraining order aims to prevent any potential defamation or further damage to John’s reputation resulting from the negative comments made by the former contestants.

As per the court ruling, the Bakers, known for creating Bubba’s Q Boneless Baby Back Ribs and their appearance on “Shark Tank,” are required to take down any social media posts that are deemed “disparaging.” These posts include detailed accounts of their business relationship with Daymond John, accusing him of attempting to gain control of their business entity. US District Judge Robert Kugler noted that all of the Bakers’ posts were negative or disparaging, and such content has the potential to impact Daymond John’s reputation, goodwill, and credibility, as well as that of DF Ventures, the entity set up by John for conducting business with the family.

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Alan King: The Gen Z Mastermind Behind AKINGS https://brevmag.com/alan-king-the-gen-z-mastermind-behind-akings/ https://brevmag.com/alan-king-the-gen-z-mastermind-behind-akings/#respond Wed, 19 Jul 2023 21:19:30 +0000 https://brevmag.com/?p=26274 Chinese American entrepreneur and fashion designer, Alan King has been taking the apparel world by storm with the success of his clothing brand AKINGS. With a resume spanning over 8 years, Alan has become a renowned individual in the field of garment manufacturing & distribution. So much so, that he would even earn a seat on the Forbes 30 Under 30 list alongside his co-founder, Bryan Leon.

Alan began his journey by creating clothes for himself because he was dissatisfied with wearing old hand-me-down clothing. Drawing inspiration from New York City culture and streetwear, Alan decided to infuse his designs with elements from urban style and a focus on delivering luxury elements to his works. His burning desire to pursue fashion ultimately led to Alan making the decision to drop out of college and officially launch his brand, AKINGS, in 2015. This move would prove to be vital for the young creative as he pushed to establish the platform he has today by showcasing his vision for the fashion industry.

King’s unique designs and innovative cuts of denim are ultimately what put the 26-year-old on the map. Inspired by New York City life, each pair of denim crafted by the AKINGS brand is designed to be reliable and withstand the test of time, accompanying individuals on their daily journeys. A significant innovation in the brand’s denim collections was the introduction of the J-shape cut. King envisioned creating jeans that would stack from the knee down. By curving both legs inward, resembling two Js, he achieved a unique silhouette where the jeans naturally stack at the legs. This innovation added a distinct aesthetic to the denim offerings.

As AKINGS experiences continued growth and success, the brand is actively seeking collaborations and partnerships with emerging creatives who share their core values. By aligning with like-minded individuals and organizations, AKINGS aims to foster mutual support and uphold the principles that have contributed to its current standing. King’s clothing has been worn by popular figures in entertainment such as Lil Baby, Kyle Kuzma, Steve Aoki, Tyga, Lil Nas X, and Jay Critch amongst many others.

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Kim Kardashian’s SKIMS Now Valued At $4 Billion https://brevmag.com/kim-kardashians-skims-now-valued-at-4-billion/ https://brevmag.com/kim-kardashians-skims-now-valued-at-4-billion/#respond Wed, 19 Jul 2023 17:05:04 +0000 https://brevmag.com/?p=26309 According to a representative from SKIMS, Kim Kardashian’s clothing brand, the company has recently completed a Series C funding round of $270 million led by Wellington Management. The funding round included participation from Green Oaks Capital Partners, as well as previous partners D1 Capital Partners and Imaginary Ventures. As a result of the funding, SKIMS has achieved a valuation of $4 billion. The total amount raised by SKIMS now stands at $670 million, which includes previous funding rounds of $240 million in Series B in 2021 and $154 million in Series A in 2020.

SKIMS has enlisted notable personalities such as Ice Spice, PinkPantheress, Carmen Electra, and SZA as stars for their campaigns. The brand, co-founded by Kim Kardashian and Jens Grede in 2019, has seen significant growth. A representative from SKIMS has stated that the brand is expected to achieve net sales of $750 million this year, indicating substantial revenue growth compared to the previous year when it was under $500 million. The increased sales reflect the brand’s success and growing popularity in the market.

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Shein Hit With Massive Lawsuit For Stealing Ideas https://brevmag.com/shein-hit-with-massive-lawsuit-for-stealing-ideas/ https://brevmag.com/shein-hit-with-massive-lawsuit-for-stealing-ideas/#respond Wed, 19 Jul 2023 16:55:18 +0000 https://brevmag.com/?p=26306 Shein, a fast fashion retailer based in China, is reportedly facing a lawsuit that alleges its aggressive copyright infringement practices amount to racketeering. The lawsuit, filed recently, claims that Shein’s actions violate the Racketeer Influenced and Corrupt Organizations Act (RICO), a law primarily designed to prosecute organized crime.

Shein’s alleged widespread and systematic infringement of copyrighted materials, such as designs and patterns owned by other individuals or companies. By invoking RICO, the plaintiffs are suggesting that Shein’s alleged actions resemble a criminal enterprise rather than mere copyright infringement.

According to the lawsuit, Shein allegedly employs a complex corporate structure to facilitate its large-scale production of up to 6,000 new items per day. The plaintiffs argue that this intricate setup allows Shein to engage in a coordinated and illegal operation that involves ripping off designers. They propose that RICO statutes are the most suitable legal framework to combat such activities. It’s important to note that the lawsuit and its claims have not been proven in court, and Shein will have the opportunity to present its defense against the allegations. The case will unfold through the legal process, determining the merits of the claims and the potential impact on Shein’s practices and reputation.

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