How Ralph Lauren and Nike are Capitalizing off the Olympics
We're a week into the Olympics and by now most viewers have noticed that Ralph Lauren, Nike and Under Armour are the official sponsors of Team USA gear. Joining The Long and The Short to discuss the benefits of outfitting Team USA is Nick Martell and Jack Kramer, Co-Founders & Co-CEOs of MarketSnacks.
Ralph Lauren shocked many when it dressed Team USA in suede gloves during the opening ceremony. The internet was quick to point out they were reminiscent of a scene from "Dumb and Dumber." The gloves were on sale after the ceremony for $1,000 and are already sold out! Martell and Kramer say that Ralph Lauren really needs to capitalize on post-Olympic buzz and try to bring more people into their brick-and-mortar store, after a struggle with its online sales.
Plus, Nike may be outfitting the athletes when they receive medals, but it's also teaming up with Snap. The apparel company was the first non-Snap company to sell product on the platform, pushing its Air Jordan III "Tinker" shoes after the All-Star NBA game on Sunday night. Martell and Kramer say this was Nike's attempt at appealing to a younger, more millennial, audience.
Microsoft has announced that it's hired Sam Altman and another co-founder of ChatGPT maker OpenAI after they unexpectedly departed the company days earlier in a corporate shakeup that shocked the artificial intelligence world.
Many factors lie behind the disconnect, but economists increasingly point to one in particular: The lingering financial and psychological effects of the worst bout of inflation in four decades.
Advertisers are fleeing social media platform X over concerns about their ads showing up next to pro-Nazi content, hate speech on the site in general or billionaire owner Elon Musk’s own posts endorsing an antisemitic conspiracy theory.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
The board of ChatGPT-maker Open AI said Friday it has pushed out its co-founder and CEO Sam Altman after a review found he was “not consistently candid in his communications” with the board.
