Prom Perms and Cash Grabs
"lattes & leases"
Blackpink’s Jennie Kim — who, it’s worth noting, has 76 million followers on Instagram — is the face of the new campaign for Chanel’s 22 bag; Bella Hadid is bringing back the ’80s prom perm; Parade makes a splash with first-ever swim collection; and Sofia Coppola’s daughter is the latest main character of TikTok.
DO CONSUMERS STILL CARE ABOUT BRANDS BACKED BY BIG NAMES?, adweek
Short answer, no. With consumer interest in influencers and celebrities on the decline among Gen Z, brands fronted by A-listers need to prove it’s not just a “cash grab” (not easy!) and differentiate themselves beyond the founder’s star power (extremely not easy!).
VANS KNOWS YOU’RE SICK OF THEIR SHOES, bof
After enjoying double-digit growth every year between 2004, when VF Corp. acquired the brand for $396 million, and 2019, the charmed run came to an abrupt halt during the pandemic. Not only had Old Skools become ubiquitous, but consumers didn’t want classic silhouettes in new prints anymore. They wanted Hokas. Now Vans is hoping to stage a comeback.
GEN Z IS COMING FOR THE HOUSING MARKET, insider
Interesting follow-up reading to yesterday’s article about Gen Zers’ paying their rent via credit card.
Soli Cayetano, 25, parlayed that initial purchase into partial or full ownership of 36 units in Ohio and Georgia, including a small apartment building, a couple of duplexes, and single-family homes. She and her business partners have financed most of their purchases by raising debt from individual investors and hard-money lenders. And she continues to document her investments on Instagram, where she has more than 100,000 followers, as well as her website, Lattes & Leases, where she offers courses for other investors to follow in her footsteps.
FEAR THE WRATH OF THE TIKTOK VOTER, tnr
TikTok serves as the primary source of news for a significant number of Gen Z; as Congress and the Biden administration consider banning the app over national security concerns, there will likely be significant political repercussions, potentially alienating young voters ahead of the critical 2024 elections.
THESE PEOPLE AVOID THE TIKTOK APP, NOT THE TIKTOK VIDEOS, wsj
Though Carla Birnbaum banned her daughter from downloading TikTok, “friends had been sending the tween screen recordings of TikTok posts as a way to get around the Birnbaum household’s no-TikTok rule. Her iPhone’s storage was so full of recorded videos—a few hundred, Ms. Birnbaum estimates—there wasn’t enough space to update the software.”
PEPSI GOES ALL IN ON TIKTOK FOR ITS CHAMPIONS LEAGUE FINAL KICK-OFF, thedrum
For Pepsi’s Uefa Champions League Final (“Europe's most prestigious and elite club football competition,” the internet tells me) kick-off, they launched a three-month fan engagement TikTok campaign and will be broadcasting live from the platform. I suspect we’ll soon see fewer months-long “TikTok engagements” from brands of Pepsi’s magnitude, though I guess in this case it doesn’t totally matter since Uefa is a global thing.
One last thought:
I still like Vans and I will never get sick of them. But what do I know, I'm a geriatric millennial. 🤫