CBX Daily 8/9/2024

Author

CultureBanx Team
August 09, 2024

Today supply and demand in women’s sorts merch should be a no brainer, but let’s start with how SPILL has enlisted A-listers…

Cultural Intelligence Download

SPILL Brings Hollywood Investor Into Its Inclusive Social Media Conversation

CBX Vibe

Culture-focused social media has emerged as a powerful force, reshaping the digital landscape and giving voice to underrepresented communities. That’s where social media app SPILL, a culturally relevant fun, safe, rewarding way for people to connect online through visual conversations, and its co-founder Alphonzo “Phonz” Terrell, is setting his platform apart. SPILL is using its latest funding from serial investor and actress Kerry Washington to further show how cultural moments are leveraged to boost engagement, advertising revenue and inclusivity.

Supply Struggles To Keep Up As Women's Sports Merch Tops $4 Billion

CBX Vibe:

The women's sports market has come a long way with a remarkable surge of $4 billion. However, even with a burgeoning demand for women’s sports merch, the availability and variety of merchandise remain insufficient. The situation is dire as 60% of women expressed interest in purchasing merch but were unable to because of little to no inventory. This highlights a missed earning potential in the market.

Supreme's Big Sale: A Billion-Dollar Shift In Streetwear

CBX Vibe:

After 30 years in business, Supreme is moving house to EssilorLuxottica (EL.PA -1.61%). This represents a significant transition for the iconic streetwear brand. Although this marks a decrease of $600 million from its previous valuation under VF Corporation's ownership, it presents an opportunity for renewed growth and innovation. Despite facing declining sales and inventory struggles, Supreme's enduring cultural impact and global resonance indicate the potential for a successful turnaround.

How Inheritance Is Changing The Faces of U.S. Billionaires Wealth

CBX Vibe:

With the ever-evolving landscape of wealth amassment, we're witnessing a significant shift from entrepreneurial billionaires to those inheriting wealth. The number of global billionaires has seen a 7% increase, totaling 2,544 individuals, according to a report from Swiss bank UBS. Their combined wealth has also risen by 9%, approximating a colossal $12 trillion. The impact of this change on Black wealth is an intriguing subject that deserves thorough exploration.

Digital Divide Deepens Amid Affordable Connectivity Program Shutdown

CBX Vibe:

The U.S. Affordable Connectivity Program (ACP), a two-year initiative to make internet access more affordable, is on the brink of running out of funds, and Congress seems unlikely to intervene. The imminent end of the Affordable Connectivity Program (ACP) will leave an estimated 60 million Americans without subsidized internet access, significantly impacting the livelihoods of indigenous communities.

Vibes of the Week

Even the ”Little Things” matter big time in the socials. Tank and The Bangas and Yaya Bey closing in our week in our CBX Vibes!