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12 hot new brands that millennials can’t get enough of – Strategy – Pulselive.co.ke

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  • Millennials are known for shopping around rather than sticking to one brand.
  • Their shopping habits have created an opportunity for emerging brands to enter the market.
  • In a recent survey conducted by Goldman Sachs and Conde Nast, a group of consumers between the ages of 13 and 34 were asked to list the new brands that they are hearing about or shopping at more now versus last year.

Millennials may have lots of good qualities, but brand loyalty isn’t one of them.

This generation is known for their tendency to shop around, and the rise of e-commerce and mobile shopping has given them the necessary tools to do so.

While this may have created a tougher environment for legacy brands, it has also given more opportunity for newer brands to enter the market.

In an annual survey conducted by Goldman Sachs and Conde Nast called the Love List, a group of consumers between the ages of 13 and 34 were asked various questions about their shopping habits and preferred brands. 1,489 US consumers, as well as 1,174 Conde Nast “It Girls” (a group of Conde Nast readers who tend to be more affluent), were surveyed for the report.

In one question, shoppers were asked to name the fashion, athletic, or beauty/grooming brands that they have bought from or are hearing about today but weren’t focused on last year. The results were then split out by established and emerging brands.

Here are the 12 up-and-coming brands highlighted by these consumers:

GlamGlow


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GlamGlow

(Facebook/Glamglow)

Skincare brand GlamGlow was originally created for professionals working with celebrities in the entertainment industry. It is now available for purchase online and in stores such as Macy’s, Nordstrom, and Sephora.

It’s best known for its mud masks, which cost between $59 to $79, depending on size.

Fenty Beauty


Fenty Beautyplay

Fenty Beauty

(Facebook/Fenty Beauty)

Rihanna’s beauty brand, Fenty, which is owned by the world’s largest luxury retailer, LVMH, only launched in 2017 but is already making waves in the beauty industry. Its products range from $19 for a lipstick up to $38 for powders. The collection is currently sold online and in Sephora stores in the US.

According to WWD, in its first month of operation, sales at Fenty were five times higher than Kylie Cosmetics, the $800 million beauty company owned by Kylie Jenner.

Glossier


Glossierplay

Glossier

(Facebook/Glossier)

Operating almost exclusively online, Glossier is leading the way in beauty products. It has attracted more than $86 million in funding since founder Emily Weiss began selling beauty products in 2013. Revenues reportedly tripled from 2016 to 2017.

According to Bloomberg, the company sells one of its popular $16 “Boy Brow” eyebrow shapers every minute, accounting for an estimated $8 million in sales per year.

ColourPop


ColourPopplay

ColourPop

(Facebook/ColourPop)

Known as “beauty that doesn’t break the bank,” ColourPop is an affordable makeup collection that sells lipsticks for as little as $5.50.

Fabletics


Fableticsplay

Fabletics

(Facebook/Fabletics)

This digitally native athletics wear brand, which was co-founded by Kate Hudson in 2013, generates more than $300 million in annual revenue, a company spokesperson told CNBC in July.

It now has plans to open 75 more stores around the world, bringing its total to 100.

Fashion Nova


Fashion Novaplay

Fashion Nova

(Facebook/Fashion Nova)

California-based label Fashion Nova is quickly becoming one of the most-talked-about brands on the internet. In 2017, it was one of the most-searched brands on Google, beating out well-known luxury brands such as Gucci and Louis Vuitton.

While the company actually started as a store, its success exploded when it launched on Instagram and was endorsed by celebrities like Cardi B. It now has over 13 million followers and posts new items several times a day.

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The Ordinary


The Ordinaryplay

The Ordinary

(Facebook/The Ordinary)

The Ordinary is a skincare brand that’s known for its affordable but high-quality products. It has risen to success by becoming the brand of choice for beauty editors, Instagram influencers, and celebrities like Kim Kardashian West.

Its parent company, Deciem, is partly owned by Estée Lauder.

Milk Makeup


Milk Makeupplay

Milk Makeup

(Facebook/Milk Makeup)

This 100% vegan beauty brand has shot to fame in just two years. The brand’s success is partly down to the fact that it was started by the founders of Milk Studios, a creative agency that has locations in New York and Los Angeles and is known for its buzzy fashion events. This gave the brand a head start in reaching the fashion crowd.

It has a mix of skincare and makeup products. Its best-selling mascara costs $24.

IT Cosmetics


IT Cosmeticsplay

IT Cosmetics

(Facebook/It Cosmetics)

IT Cosmetics is a skincare and makeup brand that has been developed with plastic surgeons. The products are designed to target wrinkles, blemishes, and redness.

Its best-selling CC cream costs $38 and is available at Sephora.

Drunk Elephant


Drunk Elephantplay

Drunk Elephant

(Facebook/Drunk Elephant)

Drunk Elephant is a synthetic-free skincare range that was created by Tiffany Masterson, a consumer who found herself disillusioned by what was available in the industry.

Since launching in 2013, it has gained a cult following, and many of its products have become Sephora best-sellers. Its serums cost between $52 and $134.

Sunday Riley


Sunday Rileyplay

Sunday Riley

(Facebook/Sunday Riley)

Sunday Riley is a product formulator who set up her namesake brand after being frustrated by the selection of skincare products on the market.

Her products are designed to treat signs of aging, acne, dehydration, and dryness in the skin. They are currently sold through beauty companies such as Sephora and BirchBox and in department stores across the US.

Everlane


Everlaneplay

Everlane

(Facebook/Everlane)

Direct-to-consumer brand Everlane, which prides itself on being transparent about its pricing and manufacturing, is quickly becoming one of millennials’ favored brands.

While the company does not disclose sales numbers, according to Privco, a firm that analyzes private companies, Everlane hit $100 million in revenue in 2016. It was founded in 2010.

The brand now has two stores in the US, in New York and San Francisco.



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Sordid tale of the bank ‘that would bribe God’

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Bank of Credit and Commerce International. August 1991. [File, Standard]

“This bank would bribe God.” These words of a former employee of the disgraced Bank of Credit and Commerce International (BCCI) sum up one of the most rotten global financial institutions.
BCCI pitched itself as a top bank for the Third World, but its spectacular collapse would reveal a web of transnational corruption and a playground for dictators, drug lords and terrorists.
It was one of the largest banks cutting across 69 countries and its aftermath would cause despair to innocent depositors, including Kenyans.
BCCI, which had $20 billion (Sh2.1 trillion in today’s exchange rate) assets globally, was revealed to have lost more than its entire capital.
The bank was founded in 1972 by the crafty Pakistani banker Agha Hasan Abedi.
He was loved in his homeland for his charitable acts but would go on to break every rule known to God and man.
In 1991, the Bank of England (BoE) froze its assets, citing large-scale fraud running for several years. This would see the bank cease operations in multiple countries. The Luxembourg-based BCCI was 77 per cent owned by the Gulf Emirate of Abu Dhabi.  
BoE investigations had unearthed laundering of drugs money, terrorism financing and the bank boasted of having high-profile customers such as Panama’s former strongman Manual Noriega as customers.
The Standard, quoting “highly placed” sources reported that Abu Dhabi ruler Sheikh Zayed Sultan would act as guarantor to protect the savings of Kenyan depositors.
The bank had five branches countrywide and panic had gripped depositors on the state of their money.
Central Bank of Kenya (CBK) would then move to appoint a manager to oversee the operations of the BCCI operations in Kenya.
It sent statements assuring depositors that their money was safe.
The Standard reported that the Sheikh would be approaching the Kenyan and other regional subsidiaries of the bank to urge them to maintain operations and assure them of his personal support.
It was said that contact between CBK and Abu Dhabi was “likely.”
This came as the British Ambassador to the UAE Graham Burton implored the gulf state to help compensate Britons, and the Indian government also took similar steps.
The collapse of BCCI was, however, not expect to badly hit the Kenyan banking system. This was during the sleazy 1990s when Kenya’s banking system was badly tested. It was the era of high graft and “political banks,” where the institutions fraudulently lent to firms belonging or connected to politicians, who were sometimes also shareholders.
And even though the impact was expected to be minimal, it was projected that a significant number of depositors would transfer funds from Asian and Arab banks to other local institutions.
“Confidence in Arab banking has taken a serious knock,” the “highly placed” source told The Standard.
BCCI didn’t go down without a fight. It accused the British government of a conspiracy to bring down the Pakistani-run bank.  The Sheikh was said to be furious and would later engage in a protracted legal battle with the British.
“It looks to us like a Western plot to eliminate a successful Muslim-run Third World Bank. We know that it often acted unethically. But that is no excuse for putting it out of business, especially as the Sultan of Abu Dhabi had agreed to a restructuring plan,” said a spokesperson for British Asians.
A CBK statement signed by then-Deputy Governor Wanjohi Murithi said it was keenly monitoring affairs of the mother bank and would go to lengths to protect Kenyan depositors.
“In this respect, the CBK has sought and obtained the assurance of the branch’s management that the interests of depositors are not put at risk by the difficulties facing the parent company and that the bank will meet any withdrawal instructions by depositors in the normal course of business,” said Mr Murithi.
CBK added that it had maintained surveillance of the local branch and was satisfied with its solvency and liquidity.
This was meant to stop Kenyans from making panic withdrawals.
For instance, armed policemen would be deployed at the bank’s Nairobi branch on Koinange Street after the bank had announced it would shut its Kenyan operations.
In Britain, thousands of businesses owned by British Asians were on the verge of financial ruin following the closure of BCCI.
Their firms held almost half of the 120,000 bank accounts registered with BCCI in Britain. 
The African Development Bank was also not spared from this mess, with the bulk of its funds deposited and BCCI and stood to lose every coin.
Criminal culture
In Britain, local authorities from Scotland to the Channel Islands are said to have lost over £100 million (Sh15.2 billion in today’s exchange rate).
The biggest puzzle remained how BCCI was allowed by BoE and other monetary regulation authorities globally to reach such levels of fraudulence.
This was despite the bank being under tight watch owing to the conviction of some of its executives on narcotics laundering charges in the US.
Coast politician, the late Shariff Nassir, would claim that five primary schools in Mombasa lost nearly Sh1 million and appealed to then Education Minister George Saitoti to help recover the savings. Then BoE Governor Robin Leigh-Pemberton condemned it as so deeply immersed in fraud that rescue or recovery – at least in Britain – was out of the question.
“The culture of the bank is criminal,” he said. The bank was revealed to have targeted the Third World and had created several “institutional devices” to promote its operations in developing countries.
These included the Third World Foundation for Social and Economic Studies, a British-registered charity.
“It allowed it to cultivate high-level contacts among international statesmen,” reported The Observer, a British newspaper.
BCCI also arranged an annual Third World lecture and a Third World prize endowment fund of about $10 million (Sh1 billion in today’s exchange rate).
Winners of the annual prize had included Nelson Mandela (1985), sir Bob Geldof (1986) and Archbishop Desmond Tutu (1989).
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Monitor water pumps remotely via your phone

Tracking and monitoring motor vehicles is not new to Kenyans. Competition to install affordable tracking devices is fierce but essential for fleet managers who receive reports online and track vehicles from the comfort of their desk.

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Agricultural Development Corporation Chief Accountant Gerald Karuga on the Spot Over Fraud –

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Gerald Karuga, the acting chief accountant at the Agricultural Development Corporation (ADC), is on the spot over fraud in land dealings.

ADC was established in 1965 through an Act of Parliament Cap 346 to facilitate the land transfer programme from European settlers to locals after Kenya gained independence.

Karuga is under fire for allegedly aiding a former powerful permanent secretary in the KANU era Benjamin Kipkulei to deprive ADC beneficiaries of their land in Naivasha.

Kahawa Tungu understands that the aggrieved parties continue to protest the injustice and are now asking the Ethics and Anti-corruption Commission (EACC) and the Directorate of Criminal Investigations (DCI) to probe Karuga.

A source who spoke to Weekly Citizen publication revealed that Managing Director Mohammed Dulle is also involved in the mess at ADC.

Read: Ministry of Agriculture Apologizes After Sending Out Tweets Portraying the President in bad light

Dulle is accused of sidelining a section of staffers in the parastatal.

The sources at ADC intimated that Karuga has been placed strategically at ADC to safeguard interests of many people who acquired the corporations’ land as “donations” from former President Daniel Arap Moi.

Despite working at ADC for many years Karuga has never been transferred, a trend that has raised eyebrows.

“Karuga has worked here for more than 30 years and unlike other senior officers in other parastatals who are transferred after promotion or moved to different ministries, for him, he has stuck here for all these years and we highly suspect that he is aiding people who were dished out with big chunks of land belonging to the corporation in different parts of the country,” said the source.

In the case of Karuga safeguarding Kipkulei’s interests, workers at the parastatals and the victims who claim to have lost their land in Naivasha revealed that during the Moi regime some senior officials used dubious means to register people as beneficiaries of land without their knowledge and later on colluded with rogue land officials at the Ministry of Lands to acquire title deeds in their names instead of those of the benefactors.

Read Also: Galana Kulalu Irrigation Scheme To Undergo Viability Test Before Being Privatised

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“We have information that Karuga has benefitted much from Kipkulei through helping him and this can be proved by the fact that since the matter of the Naivasha land began, he has been seen changing and buying high-end vehicles that many people of his rank in government can’t afford to buy or maintain,” the source added.

“He is even building a big apartment for rent in Ruiru town.”

The wealthy officer is valued at over Sh1.5 billion in prime properties and real estate.

Last month, more than 100 squatters caused scenes in Naivasha after raiding a private firm owned by Kipkulei.

The squatters, who claimed to have lived on the land for more than 40 years, were protesting take over of the land by a private developer who had allegedly bought the land from the former PS.

They pulled down a three-kilometre fence that the private developed had erected.

The squatters claimed that the former PS had not informed them that he had sold the land and that the developer was spraying harmful chemicals on the grass affecting their livestock and homes built on a section of the land.

Read Also: DP Ruto Wants NCPB And Other Agricultural Bodies Merged For Efficiency

Naivasha Deputy County Commissioner Kisilu Mutua later issued a statement warning the squatters against encroaching on Kipkuleir’s land.

“They are illegally invading private land. We shall not allow the rule of the jungle to take root,” warned Mutua.

Meanwhile, a parliamentary committee recently demanded to know identities of 10 faceless people who grabbed 30,350 acres of land belonging to the parastatal, exposing the rot at the corporation.

ADC Chairman Nick Salat, who doubles up as the KANU party Secretary-General, denied knowledge of the individuals and has asked DCI to probe the matter.

Email your news TIPS to [email protected] or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

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William Ruto eyes Raila Odinga Nyanza backyard

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Deputy President William Ruto will next month take his ‘hustler nation’ campaigns to his main rival, ODM leader Raila Odinga’s Nyanza backyard, in an escalation of the 2022 General Election competition.

Acrimonious fall-out

Development agenda

Won’t bear fruit

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