Weekend briefing: From COP27, a terrible warning for the fashion industry

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The annual UN climate conference was held in Egypt last week, presenting a serious case for the need to reduce emissions in the fashion industry and around the world. Also: Looking at how Adidas was able to retain the design rights to the Yeezy sneakers and the likelihood of Estèe Lauder closing her deal to buy Tom Ford. Don’t forget to subscribe to the Glossy Podcast for interviews with brand leaders and Week in Review episodes, and to the Glossy Beauty Podcast for beauty industry coverage! –Danny Parisi, sr. fashion journalist

At COP27, fashion grapples with rising global emissions

A new report from the UN’s Intergovernmental Panel on Climate Change released at COP27 in Egypt last week found the world is not on track to meet the Accord’s goals. of Paris in 2015. Rather than reducing emissions from fossil fuels, countries like the United States and India are expected to increase their emissions next year.

I spoke to Dr. Amanda Parkes, Chief Innovation Officer of Pangaia, while she was in Cairo for the summit. She spends much of her time thinking about how Pangaia and the fashion industry as a whole can help protect the planet. His assessment was harsh.

“Fossil fuels are the No. 1 [issue],” she said. “Ending their use in any way possible is the biggest thing we have to do.”

How Adidas retained the rights to Yeezy designs

Adidas finally unveiled its concrete plans for Yeezy sneakers last week following the fiery end of its partnership with Kanye West earlier this month. As many suspected, the brand will continue to sell models from the Yeezy line but without the Yeezy name. This is only possible because Adidas has retained the design rights to each shoe.

Aaron Luo, founder of bag brand Caraa which has collaborated with brands like Athleta and Equinox, said it was actually common and standard practice to collaborate with an outside designer.

“Generally, the rights to any co-branded or co-designed product are defined based on who ultimately sells the product and how the collaborating designer is compensated,” Luo said. “For example, when a brand partners with an artist, it’s usually the brand that sells the product, and the artist receives a lump sum compensation, plus a reduction in the form of a royalty per item sold.”

Estée Lauder is close to a deal on Tom Ford
The beauty giant is set to strike a nearly $3 billion deal to buy Tom Ford, according to reports from the Financial Times. The deal will come at the end of a long and competitive process where, it seems, several major luxury groups were fighting to buy the brand.

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