Serena’s Style Changed the Game in Fashion, Business

Tennis - US Open - Flushing Meadows, New York, United States - September 2, 2022 Serena Williams of the US before her third round match against Australia's Ajla Tomljanovic REUTERS/Mike Segar
Tennis - US Open - Flushing Meadows, New York, United States - September 2, 2022 Serena Williams of the US before her third round match against Australia's Ajla Tomljanovic REUTERS/Mike Segar
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Serena’s Style Changed the Game in Fashion, Business

Tennis - US Open - Flushing Meadows, New York, United States - September 2, 2022 Serena Williams of the US before her third round match against Australia's Ajla Tomljanovic REUTERS/Mike Segar
Tennis - US Open - Flushing Meadows, New York, United States - September 2, 2022 Serena Williams of the US before her third round match against Australia's Ajla Tomljanovic REUTERS/Mike Segar

From glossy magazine covers to generation-defining on-court styles, Serena Williams took a bow at the US Open on Friday, having rewritten the fashion playbook for female athletes while building an empire of her own.

The 23-times Grand Slam winner chose the bible of women's fashion, Vogue, to announce she was "evolving away from tennis," before taking to the court in her bedazzling Nike sneakers at the US Open this week under the watchful eyes of the magazine's grand dame, Anna Wintour.

The fiercely competitive queen of Queens put on a gritty performance in what is widely expected to be her final tournament, losing in the third round 7-5 6-7 (4) 6-1 to Ajla Tomljanovic with her legacy as a cultural icon firmly in place.

"Style and sport have always been closely intertwined, but no athlete embraced the power of fashion like Serena Williams," Katie Abel, executive editor of Footwear News, told Reuters.

"She’s never shied away from boundary-breaking looks, on or off the court, and always knows how to send a message, even if it’s controversial."

She famously competed in Flushing Meadows in a denim skirt in 2004 and ruffled feathers at Roland-Garros in 2018, when she wore a black catsuit to keep her circulation going after developing blood clots in the days after giving birth.

After organisers said they would ban the catsuit from their clay courts, Williams' supporters cried foul. Williams quipped to the Associated Press: "When it comes to fashion, you don’t want to be a repeat offender."

The moment was an instant classic and showed she could harness fashion to disrupt the status quo, said Katie Lebel, a researcher of gender equity in sport and assistant professor at University of Guelph.

"Sexism has been pretty pervasive when it comes to women’s clothing... The expectations around what women athletes should look like that been particularly steeped in that," she said.

"Enter Serena and she pushed back against all this. I think she really rethought (the) uniform standards for women in tennis."

Serena and her sister Venus brought Black style to the overwhelmingly white sport when they first took the court as professionals in the 1990s, facing criticism for wearing beaded braids in competition.

Williams wore the style when she won her inaugural Grand Slam in New York. Photos of daughter Olympia in identical plaits in the stands at Flushing Meadows this year were an instant sensation.

"From the moment Serena and her sister Venus stepped onto the court in their signature braids... they have been role models for Black women and aspiring female athletes everywhere," said Abel.

Williams' friendship with late Louis Vuitton artistic director Virgil Abloh resulted in one of her most memorable US. Open ensembles, a ballerina-inspired Nike kit in 2018, when she got tantalisingly close to clinching a record-equalling 24th major title but came up short in the final.

While her run at the US Open is over, her work in New York has just begun, with a "Glam Slam" preview of new looks from her S by Serena brand planned for Sept. 12 to coincide with New York Fashion Week.

And her retirement from competitive sport is expected to have little to no impact on her brand value - with Nike planning to continue its partnership with the 40-year-old. read more

"Williams may be retiring from tennis, but I’m guessing her influence on fashion is just getting started. Without her gruelling training schedule, I’d think she would have even more time and energy to focus on this category," said W Magazine Fashion Director Nora Milch.

A bona fide fashion tycoon off the court, Serena was named to the board of shopping app Poshmark in 2019, opening her own closet alongside pieces from Olympia to customers on the fashion marketplace.

Manish Chandra, founder and CEO at Poshmark, said Williams has inspired several other female entrepreneurs to sell on the app by way of her unique voice and perspective.

"As a champion of female empowerment, Serena always leads with love and helps to ensure that our Poshmark community is front and centre in everything we do," Chandra told Reuters.

"Her achievements and vision across the worlds of business, fashion and entrepreneurship made her a perfect fit for our board... She leads with humility, kindness and authenticity."



Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
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Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)

Nike shares rose 5% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Cook, who has been on Nike's board since 2005, bought 50,000 shares at $58.97 ‌each, according to ‌a regulatory filing. As of December ‌22, ⁠he holds about ‌105,000 shares, which is now worth nearly $6 million.

It was the largest open market stock purchase for a Nike director or executive and possibly the largest in more than a decade, said Jonathan Komp, analyst at Baird Equity Research.

"(We see) Cook's move as a positive signal for the progress under CEO Elliott Hill and Nike's 'Win ⁠Now' actions," Komp said.

The purchase comes days after Nike reported weaker quarterly margins and weak ‌sales in China even as CEO ‍Hill tries to revive demand ‍through fresh marketing plans and innovation focused on running and sports, ‍while phasing out lagging lifestyle brands.

He has also attempted to mend Nike's ties with wholesalers such as Dicks Sporting Goods to increase visibility among shoppers amid stiff competition from newer brands.

However, the strategy has strained Nike's margins, which have been declining for over a year, while its efforts to win back its ⁠premier position in discount-friendly China appears to be faltering.

Nike's shares have slumped nearly 13% since it reported results on December 18 and are on track for the fourth straight year of declines. They were trading at $60.19 on Wednesday.

Cook has been a lead independent director of Nike since 2016 when co-founder Phil Knight stepped down as its chairman.

The Apple CEO "remains extremely close" with Knight, Komp said, adding that he has advised Nike through key strategic decisions including Hill's appointment last year.

Board director and former Intel CEO ‌Robert Swan also bought about 8,700 shares for about $500,000 this week.


Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
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Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters

The founding family of Italian fashion house Etro has sold the minority stake it still owned in the brand to a group of investors including Turkish group RAMS Global, the company said on Friday.

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner and "will continue to actively support the brand's long-term growth strategy," Etro added, according to Reuters.

The new investors comprise also Italian fashion group Swinger International and small private equity firm ⁠RSI.

In addition to buying the stake, they all subscribed to a capital increase that will lower L Catterton's holding in Etro to between 51% and 55% from around 65%.

When including both the acquisition and the capital increase, the deal is worth around 70 ⁠million euros ($82 million), two sources close to the matter said. Etro did not disclose financial details.

Chief Executive Fabrizio Cardinali will remain at the helm, while Faruk Bülbül, representing RAMS Global, will become chairman of the board.

L Catterton bought a 60% stake in the brand known for its paisley motif four years ago, and it slightly increased the holding over the years.

The company, founded by Gimmo Etro in 1968, has ⁠been struggling with its turnaround. Last year it posted a net loss of 23 million euros with net revenues declining to 245 million euros from 261 million euros, according to filings with the local chambers of commerce reviewed by Reuters.

Rothschild advised L Catterton and the Etro family on the deal.

Rothschild had been hired in 2024 to look for a new investor who could buy all or part of the Etro fashion group, sources had previously told Reuters.


Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
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Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo

A Paris court on Friday rejected a government request to suspend Chinese fast-fashion platform Shein in France after authorities found illegal weapons and child-like sex dolls for sale on the fast-fashion giant’s website.

Shein welcomed the decision, saying it remains committed to strengthening its control processes in cooperation with French authorities.

“Our priority remains protecting French consumers and ensuring compliance with local laws and regulations," the company said in an emailed statement to The Associated Press.

The controversy dates to early November, when France’s consumer watchdog and Finance Ministry moved toward suspending Shein’s online marketplace after authorities said they had found childlike sex dolls and prohibited “Class A” weapons listed for sale, even as the company opened its first permanent store in Paris.

French authorities gave Shein hours to remove the items. The company responded by banning the products and largely shutting down third-party marketplace listings in France.

French officials have also asked the European Commission to examine how illegal products were able to appear on the platform under EU rules governing large online intermediaries.