Coty wants Kylie’s color
Hey Snackers,
Bottle, draft, or almost 100? PBR is trying to make 99-packs of beer a thing.
Markets trickled higher to new record highs as T-Mobile's CEO put a date on his exit (May 2020) and Saudi Aramco stuck a price tag on itself ($1.7 trillion = Earth's most valuable company).
Biggest product unveil since the Model T... Ford needed something big. So it hired a former Michigan Wolverine football player to be CEO. That's when Jim Hackett ordered designers to build an electric SUV inspired by its iconic Mustang sports car. On Sunday, Ford unveiled that Mustang Mach-E. Shares barely budged because electric cars are just a rounding error for Ford, but this signals a new focus on electric.
Don't call it a "compliance car"... Don't. Car companies that didn't completely embrace electric (that's everyone except Tesla and maybe Toyota/Nissan/Honda) still offered electric or hybrid cars — but those were "compliance cars":
Competition in Elon's mirror is closer than it appears... Tesla's first "everyman" electric car kinda has a rival in the low-ish priced Mach-E. Ford's starts at about $44K, which falls to $37K after a federal tax credit — that's about the same price as Tesla's lowest priced Model 3. Plus, the Mach-E is 100% SUV, which Americans always call shotgun on.
That deal really makes your lips pop... Kylie Jenner is selling 51% of her Kylie Cosmetics beauty brand to old school icon Coty, and there's nothing Kris Jenner can do about it. That $600M splurge boosted Coty stock 2.6% and values Kylie's startup at $1.2B. But the viral number is 51% — it gives Coty control of the company, even if Kylie remains its face and 49% owner.
Maybe she's born with it... maybe it's actually Instagram. Coty dominates ancient brands stuck in your middle school bathroom from CoverGirl to Clairol (it even does Adidas' cologne) — and its stock has fallen over 60% in the last 4 years. The new generation of cosmetics was born on social media.
We’ve seen this face before... except in food, beverages, and razor blades. Older company's brands are out of style, so older company acquires upstart rivals.
Disclosure: Authors of this Snacks own shares of Tesla and Amazon
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