Good morning.
Layoffs:
Barstool laid off 25% of their employees (around 100 people) last week. This makes sense given the separation from Penn Entertainment, which was a much larger cash source than Barstool alone.
LVMH-backed Hodinkee cut 20% of jobs (about 25 people). The watch retailer and news site counts John Mayer and Tom Brady as investors, and acquired watch dealer Crown & Caliber in 2021 during a frenzied surge in prices for used luxury timepieces. The pandemic commodification of everything as “investing” activity was a pan flash — monkeys and shitcoins were being pitched as alt investments, which kind of helped move the window on what we accept as an investing asset.
ALL EYES ON GABBRIETTE: The California native has walked for Diesel and starred in campaigns for Bottega Veneta and Skims. She’s also one of the most beloved chefs on TikTok. I like her look, a lot of girls are copying it, and she seems very NICE. Excited to see where her career goes — both fashion and her cooking ASMR thing.
She’s the current face of Betsey Johnson (this come back makes so much sense considering my Depop feed)
She’s the current face of Miaou (if anyone employees read this, please send me hot shit to wear)
She was in a recent Rhode campaign
She’s on the cover of this fall’s Purple Magazine
She’s in this month’s issue of Vogue Mexico