Edition #31: Pop Mart’s Crash, the Oscars’ Shift to YouTube & Why Sneakers Still Run the Culture

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Retail this week is a study in capital, culture, and consumer confidence. Activist investors circle global brands, luxury reshapes portfolios, sneakers continue their march from subculture to status symbol, and consumer sentiment sends mixed signals across the US, UK, China, and India. We have everything you need to know — plus a Deep Dive into how sneakers went from Jordans to On to India’s own Gully Labs.

🌍 World Retail Headlines

Elliott takes over $1B stake in Lululemon

Activist investor Elliott Management has built a stake worth over $1 billion in Lululemon and is reportedly pushing for leadership and strategic changes.
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AmEx CEO says Thanksgiving consumer spending rose 9%

American Express data shows strong US holiday spending, offering a bright spot amid broader economic uncertainty.
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Chinese consumer giants push into the US despite tariffs

With domestic demand slowing, Chinese brands are accelerating US expansion even as trade barriers remain high.
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US unemployment ticks up, raising economic caution flags

A rise in the unemployment rate is being viewed as an early warning sign for consumer spending and retail demand.
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UK consumer spending and confidence remain muted

UK retailers continue to face weak demand as shoppers cut discretionary spend amid economic pressure.
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Elliott prepares listings for Barnes & Noble and Waterstones

The activist fund is exploring IPOs or listings for the iconic book retailers in London or the US.
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Diageo sells East African Breweries stake to Asahi for $2.3B

Diageo continues portfolio reshaping, exiting part of its Africa exposure in a major deal with Asahi.
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Pop Mart stock plunges 40% amid Labubu demand worries

A sharp correction reflects fears that demand for viral collectible characters may be peaking.
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Campari sells Averna and Zedda Piras brands in €100M deal

The Italian spirits group continues to prune its portfolio to focus on core global brands.
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Kering sells 60% stake in Fifth Avenue property

The luxury group is monetising real estate assets to manage debt and strengthen its balance sheet.
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Warner demands Larry Ellison’s personal guarantee in Paramount bid

The high-stakes media deal highlights growing caution around leveraged acquisitions.
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The Oscars to move exclusively to YouTube from 2029

In a landmark shift, the Academy Awards will abandon broadcast TV, underlining streaming’s dominance.
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📰 India Retail News

Gold prices in India may hit ₹1.9 lakh per 10 gm

Rising global uncertainty and demand could push gold prices to record highs.
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Haldiram’s enters strategic partnership with L Catterton

The deal marks a significant private equity endorsement of India’s leading snacking brand.
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Indian workers may be impacted by Amazon layoffs in Luxembourg

Amazon’s 8.5% workforce reduction could disproportionately affect Indian professionals abroad.
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First Miss India and fashion icon Meher Castelino passes away at 81

A pioneer of Indian fashion and beauty, Castelino leaves behind a lasting legacy.
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Tata Group invests ₹1,500 crore more in iPhone-led electronics push

Tata continues to double down on electronics manufacturing and Apple partnerships.
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💻 Tech Headlines

TikTok owner signs agreements to avoid US ban

Fresh agreements aim to address national security concerns and keep TikTok operational in the US.
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Instant house-help demand triples as platforms chase scale

On-demand domestic services are booming, though profitability remains a challenge.
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OpenAI in talks to raise $10B+ from Amazon, use its AI chips

The move could deepen OpenAI’s reliance on Amazon’s cloud and silicon ecosystem.
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Coursera and Udemy agree to $2.5B merger

The consolidation signals a maturing online education market focused on scale and profitability.
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UPS deploys AI to detect fakes amid holiday returns surge

AI-driven inspection tools aim to reduce fraud during peak returns season.
🔗 Read more

🔥 Top Funding, IPO & Earnings

• Pronto eyes $25M fundraise at $100M valuation

• MUFG to invest $4.45B in Shriram Finance in largest FDI in Indian financial services

👔 Key Retail Appointments & Exits

• Amazon announces departure of senior AI executive after 12 years

• Bulgari appoints Laura Burdese as Chief Executive Officer

• BP names new CEO as current chief exits after less than two years

• Pieter Mulier set to join Versace as creative lead

🤖 Deep Dive: From Jordans to On to Gully Labs — Why Sneakers Still Run the Culture

From Sports Gear to Cultural Currency

Sneakers didn’t become powerful because of performance alone — they became powerful because they absorbed culture. What began on basketball courts and running tracks evolved through hip-hop, street style, celebrity endorsements, and rebellion against formal fashion norms.

The Air Jordan era set the template: shoes could carry identity, aspiration, and storytelling. That model still holds — but the culture it created has evolved. Sneakers are no longer just about who wore them first; they’re about what they signal today.

In 2025, sneakers sit at the intersection of sport, music, wellness, design, and self-expression — making them one of the most culturally resilient categories in retail.

A Fragmented Market, Not a Fading One

Sneaker culture hasn’t cooled — it has fragmented.

• Hype-driven collectors chasing scarcity

• Everyday consumers prioritising comfort and versatility

• Design-led buyers seeking new silhouettes

• Local-brand loyalists backing authenticity and origin

This fragmentation is healthy. It has reduced dependence on one hero brand or silhouette and created space for multiple winners at different price points and scales. Scarcity still matters — but only when it’s intentional. Oversupply is quickly punished, while thoughtful drops regain desirability.

The Shift From Hype to Personal Relevance

The biggest change in sneaker culture today is who decides what matters.

Consumers are no longer waiting for consensus. Resale charts, expert picks, and community favourites often contradict each other — and that’s the point. Sneakers are moving from mass validation to personal alignment.

Nostalgia continues to drive volume, but innovation drives relevance. Retro silhouettes provide comfort and familiarity, while new designs signal progress. Brands now walk a fine line: honour the past without getting stuck in it.

This is why both ultra-limited hype drops and widely available “aspirational everyday” sneakers can succeed simultaneously.

What This Means for Brands & Retailers

Sneakers today are not just products — they are identity platforms.

The brands that win are not necessarily the biggest or loudest, but the clearest about who they are for. This opens the door for regional and cultural originals — like India’s Gully Labs — to compete not on scale, but on story, community, and credibility.

Key implications:

• There is no single playbook anymore

• Scarcity must feel earned, not manufactured

• Comfort and wearability are now table stakes

• Storytelling is the connective tissue in a fragmented market

• Local relevance can beat global hype

Sources:

Business of Fashion | Encyclopaedia Britannica – History of Sneakers | Sneaker Culture in 2025: Industry Research

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