Sorry, Millennials. Boomers Are In at Gucci.
- Two years ago, Gucci emblazoned its clothes with the New York Yankees logo and the face of Bugs Bunny.
- Now, the Italian fashion house is embracing Princess Diana and Jackie O.
- Gucci is courting older, wealthier clientele to stabilize revenue as its five-year run of remarkable growth, fueled by younger shoppers, peters out.
- Executives at Gucci and its parent, Kering SA, say they are counting on the new aesthetic to broaden the label’s client base and drive growth, following a four-year run from 2015 when revenue more than doubled.
- That plan has grown more urgent since the pandemic, as revenue plunged and flocks of tourists from abroad—avid Gucci customers—stayed at home.
- When a second wave of lockdowns swept the West, brands across the luxury sector scrambled to replace the tourist revenue.
Salesforce beats growth expectations, as investors digest the Slack acquisition
- The CRM giant reported top-line revenue of $5.42 billion, up 20% from the year-ago period.
- Analysts had expected the company to earn $0.75 per share, off of revenues of $5.25 billion, according to Yahoo Finance.
- It was not clear if the company’s share price performance was due to its Q3 results, its raised Q4 guidance, or its new fiscal 2022 expectations, or the newly announced Slack deal.
- As TechCrunch reported moments ago, Salesforce will buy Slack for $27.7 billion, in a cash and stock deal that was fully priced into shares of the smaller company, which dropped a little over a point on the news, having risen by nearly 50% since the deal’s existence first leaked.
- Salesforce told investors today that it anticipates Q4 fiscal 2021 revenues of $5.665 billion to $5.675 billion, which works out to growth of around 17% from the year-ago period.
Slack stock hits record highs as traders buy the Salesforce rumor
- Slack stock closed at a fresh all-time high on Monday as traders continued to buy ahead of cloud kingpin Salesforce‘s rumored acquisition.
- Wind of the deal has now boosted Slack‘s share price more than 45% in just three days of trade.
- Slack stock even set a new record intraday high of $43.69 early Tuesday morning; in the green over 90% year-to-date, but only up roughly 12% since its IPO in June 2019.
- However, the company’s share price has fallen a few points since the Slack rumors began.
- If Salesforce is willing to pay more, it could push the company’s stock price higher.
- But, the opposite could occur if traders have already ‘priced in’ Salesforce’s potential valuation, considering its share price has already risen 40% in the past few days.
4 Keys That Make Your Data Presentation Beyond Expectation
- The presentation deck needs to be clear and precise enough to move forwards with any actions.
- In the past, we can put subjective things without underlying data together and use our speech to convince anyone in the room.
- It’s an informative presentation, not a sci-fi movie.
- When you start your presentation, list all of the things, you would like to carry on.
- Usually, I start the whole presentation with an outline—the comprehensive design for each page.
- If it’s too complicated, no one can carry all the things to the last page.
- I can put in my presentation and convince anyone to focus on what is matter the most.
- Honestly, ask them what do you think that I need to improve this presentation.
- Your supervisor might meet them in person or present something to them in the past.
Despite everything, Oyo still has $1 billion in cash
- India’s Oyo has been one of the worst impacted startups with the coronavirus, but it has enough cash to steer through the pandemic and then look at funding further scale, a top executive says.
- The revelation will reassure employees of Oyo, which eliminated or furloughed over 5,000 jobs earlier this year and reported in April that the pandemic had cut its revenue and demand by more than 50%.
- Oyo also reported a loss of $335 million on $951 million revenue globally for the financial year ending March 31, 2019, and earlier this year pledged to cut down on its spending.
- During the conversation, a transcript of which was shared with employees and obtained by TechCrunch, Agarwal was heard talking about making Oyo — which was privately valued at $10 billion last year when it was in the process of raising $1.5 billion last year — ready for IPO.
Qld faces credit downgrade as debt tops $130b
- Mr Dick said although debt levels were not as high as NSW or Victoria, the state's debt to revenue ratio of 133.6 per cent may put it on the radar of credit ratings agencies.
- The budget revealed the global pandemic had smashed coal royalties, which were down 45 per cent this financial year alone and were expected to deliver $4 billion less into state government coffers over the next four years.
- The grim coronavirus economic fallout was balanced by some better than expected growth figures as the state economy bounces back quicker than predicted in the September budget update.
- Queensland's unemployment rate is expected to peak at 7.9 per cent at the end of this year – lower than the 9 per cent predicted in the budget update in September.
ServiceNow to Buy Element AI in Artificial Intelligence Push
- Informa PLC's registered office is 5 Howick Place, London SW1P 1WG.
- Nico Grant (Bloomberg) -- ServiceNow Inc. will buy Canadian startup Element AI Inc., marking the software maker’s fourth acquisition this year to boost the artificial intelligence capabilities of its applications.
- The transaction is expected to close in early 2021, the Santa Clara, California-based company said Monday in a statement, without disclosing the terms of the deal.
- With the tie-up, ServiceNow is aiming to add technology innovations to its platform, instead of using deals to bolster revenue.
- ServiceNow made a bet that the best route to growth is ensuring that its tools can help companies organize their personnel, customer service and IT operations.
- Monday’s deal highlights the importance of automating some tasks for clients and bringing experienced AI engineers to ServiceNow. Earlier this year, the software maker said it had purchased Loom Systems, Passage AI and Sweagle to augment its AI ambitions.
Alexa von Tobel shares the startup plan that will impress investors - Business Insider
- When Alexa von Tobel was raising money for her startup LearnVest 11 years ago, she'd often tell investors that she dropped out of Harvard Business School during the recession to create the company.
- Show how you plan to develop revenue streams in the coming years so investors can see your quality of thinking, she added.
- When presenting to investors, founders should make sure their vocabulary and plans showcase their business knowledge, von Tobel said.
- Anticipate investors' questions by explaining your three- to five-year financial trajectory, revenue projections, and an understanding of what may cause the company to run out of money in the future, she added.
- Investors like von Tobel use these decisions to gauge an entrepreneur's judgement because a startup's team is the "biggest investment" a founder can make, she said.
- Investors also want to know how entrepreneurs plan on using the money they raise, von Tobel said.