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- The barriers keep falling
The barriers keep falling
Football clubs turn lifestyle, athletes buy equity, beauty pops, Moncler outperforms, and luxury exits get harder.

As a runner — seven or eight marathons at this point — I've watched the world record inch closer to that magic two-hour mark for years. Every time, it was one second, one millisecond closer. The whole running world celebrated each attempt.
Today in London, all three podium finishers ran faster than the old world record. The unthinkable became routine.
It feels like the pace of the world has increased — in running, and everywhere else. What was once a ceiling is now a floor. Makes you wonder what other barriers are just waiting for someone to stop believing in them.
Trends — what’s bubbling underneath the headlines
The blurring lines between sports and lifestyle
I don't follow football — or soccer, depending on where you're from. But I keep hearing about this club, Como 1907. In 2019, Indonesia's Hartono brothers bought a bankrupt fourth-division Italian club for €850,000. Today it plays in the highest Italian league and has a partnership with Brioni.
But Como isn't trying to become the next Inter. It's building a lifestyle brand that happens to play football. Lake Como draws five million tourists a year. The club is leaning into that — VIP matchday experiences at lakefront villas, a "007 on Lake Como" Riva boat and fine dining escape, fashion collaborations with Rhude and Adidas, celebrities in the stands. 40% of ticketing revenue now comes from international visitors. Brand worlds used to start in fashion. Now they can start anywhere. The successful brand today isn't the one that dominates its category — it's the one capturing a larger share of wallet.
Is social media headed for a Big Tobacco moment?
I liked this FT piece. The parallel: in the 1950s, nearly half of American adults smoked. By 2020, it was 13%. But the decline wasn't even — college graduates quit first, picking up on the early research linking smoking to lung cancer. By the 1980s, giving up was a class marker. Today in the UK, people in the most deprived areas are more than three times as likely to smoke as those in the wealthiest.
The argument: social media might follow the same path. The push for smartphone-free childhoods and screen time limits is largely led by middle-class parents who are reading the emerging research on mental health harms. There's also evidence that young people from less affluent backgrounds have more negative experiences online.
The lesson for brands building on social platforms: your most valuable customers may be the first to leave. The reach stays. The purchasing power doesn't.
Business moves, big numbers & “wait, what?”
Athletes spent years promoting brands. Now they’re buying them. L Catterton is launching a $500 million fund with athletes as co-owners — not endorsers. The fund is called CHAMP. It's a partnership between L Catterton and Patricof Co, which advises athletes on investing.
The model: athletes invest their own money and get equity in portfolio companies. In return, they help those brands grow through their platforms and influence. Over 250 athletes have already signed on, committing more than 10% of the fund.
I think it's a smart evolution. Athletes have been lending their faces to brands for decades. Now they're turning influence into equity.
The lipstick effect is alive and well
L'Oréal posted its fastest quarterly growth in two years — sales up 6.7% to €12.2 billion. US, China, Europe all up. "Europe is the absolute demonstration of what we call the lipstick effect", CEO Nicolas Hieronimus said. "Consumers may cut on high-value items, but they use beauty to compensate." Dopamine in a tube.
Moncler found growth where others lost it. Both Moncler and Stone Island posted double-digit growth. Analysts expected €841 million. They got €881 million.
Asia was the engine. Moncler brand revenues in the region up 22% at constant currency, with China and Korea leading. Stone Island up 25% in Asia — third consecutive quarter of double-digit growth. Direct-to-consumer up 14% for Moncler, 17% for Stone Island.
In a quarter where most luxury names offered little to celebrate, Moncler looks like it's figured something out: own category, own customer, and don't rely on tourists to fill stores.
Wish I were there - pop-ups, collabs, etc.
Pencil in, book the ticket, or just follow on social media — choose your option and let’s discuss afterwards!
Ongoing | London - Queen Elizabeth II: Her Life In Style exhibition
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