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Nike to make a push into Fashion

Nikes joins rivals Adidas and Puma with big move into fashion via collaboration with Mathew Williams, the Alyx founder.

Nike is partnering with Matthew Williams, the founder of luxury streetwear brand Alyx, in a conscious move to make its performance category more fashionable. Matthew's work takes cues from the current youth culture and is recognised for his more practical approach to fashion, will launch his 18-piece fashion collaboration with Nike in mid July, which includes outerwear, monochrome leggings and a wide range of accessories such as logo-ed socks, face masks and towels.

Matthew's partnership with Nike, which has men’s, women’s and unisex collections, will be within Nike’s Training category, making this one of its first major collaborations with a fashion designer within the division. He founded Alyx in 2015 and has been working on the collaboration with Nike for the past year and a half.

He has a young fan base, and his brand's roots in merging street culture with practical garment construction, fits well with Nike’s Training division. But the collection also symbolises a wider strategic shift in the sport firm’s ambition to join its performance and lifestyle divisions, as it responds to the buying behaviours of young consumers, who often see less of a distinction between the two categories.

Nike still remains the world’s leading sportswear player in terms of revenue, but its performance-driven approach to apparel and footwear has lost some degree of “cool” in the eyes of young consumers, who often favour aesthetic and lifestyle features over performance and still make up a majority of the company’s clientele. Nike’s designer collaborations, including those with Kim Jones, Olivier Rousteing and Riccardo Tisci, also made a smaller cultural impact than those launched by Adidas.

( Photos Credit: Nick Knight )

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Tiffany Sold!

Luxury conglomerate LVMH Moët Hennessy Louis Vuitton SE has reached a $16.2 billion deal to buy American jewellery giant Tiffany & Co.

The companies announced that they had entered an agreement for LVMH to acquire Tiffany for $135 a share.

“We strongly believe that LVMH is not only an ideal owner for Tiffany but also that this iconic brand is a perfect addition to our portfolio and perfect complement to our existing model,” LVMH Chief Financial Officer Jean-Jacques Guiony.

The all-cash acquisition is one of the largest ever for the French conglomerate known for its hard-charging deal making and surpasses its $13 billion deal for Christian Dior in 2017.

The storied American brand has resisted acquisition for years, but as one of the few independent global jewellery houses remaining in the market, analysts had long speculated that it would make an attractive, if expensive, target.

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The deal will bring LVMH’s substantial financial and market clout to help support Tiffany’s ongoing transformation efforts. At the same time, it boosts the French company’s presence in the US market.

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