Raphael Stevens

Maserati is an Italian luxury car brand with a rich heritage, Ferrari engines and, some would say, beautiful style.But its sales numbers pale in comparison to luxury competitors such as BMW, Audi, and even Porsche. Industry insiders also say Maserati suffers from a lack of consumer awareness and an unclear brand identity.Maserati’s parent Fiat-Chrysler completed its merger with France’s Groupe PSA in 2021, forming Stellantis. PSA didn’t have much in the way of luxury brands, with the exception of DS Automobiles. Fiat-Chrysler had some luxury trims on vehicles and premium brands such as Alfa Romeo, but Maserati might be the most exclusive name in Stellantis’ stable.However, the famed car maker needs new products that dazzle prospective buyers and lure eyeballs away from its competitors. More

LONDON, ENGLAND – APRIL 20: Fans hold banners opposing Chelsea signing up for the newly proposed European Super League ahead of the Premier League match between Chelsea and Brighton & Hove Albion at Stamford Bridge on April 20, 2021 in London, England.Chloe Knott – Danehouse | Getty Images Sport | Getty ImagesLONDON — Plans for a breakaway elite soccer league in Europe have already unraveled, following widespread criticism and even threats of government intervention.Announced on Sunday, the European Super League was designed to rival the UEFA Champions League format, which is currently Europe’s top annual club competition.Twelve of Europe’s wealthiest teams had signed up as founding members of the new league, and it was being backed with $6 billion in debt financing from JPMorgan. But the move sparked outrage among lawmakers, governing bodies, former players, fans, managers and pundits, with many concerned about the ramifications for the structure of domestic competitions.Many saw it as a cynical project and highly controversial, as the permanent members of the league could not be relegated.Chelsea became the first club on Tuesday evening to signal that it was jumping ship, with fans protesting against the plans outside its West London stadium ahead of a Premier League match.Manchester City quickly followed with official confirmation of their withdrawal, and then England’s other four clubs pulled out just hours later.John Henry, the principal owner of Liverpool and the Boston Red Sox, said in a video shared on Twitter on Wednesday: “I want to apologize to all the fans and supporters of Liverpool Football Club for the disruption I’ve caused over the past 48 hours.”Arsenal apologized in an open letter to their fans that was published on the team’s website on Tuesday.”The response from supporters in recent days has given us time for further reflection and deep thought,” the letter reads. “It was never our intention to cause such distress, however when the invitation to join the Super League came, while knowing there were no guarantees, we did not want to be left behind to ensure we protected Arsenal and its future.”It continues: “As a result of listening to you and the wider football community over recent days we are withdrawing from the proposed Super League. We made a mistake, and we apologize for it.”Spain’s Atletico Madrid and Italy’s Inter Milan abandoned the league on Wednesday but four teams (Barcelona, Real Madrid, AC Milan and Juventus) are still yet to pull out. However, Juventus Chairman Andrea Agnelli did say on Wednesday that the project cannot proceed. Shares of Juventus, one of the three Italian teams that would have been part of the new league, fell by as much as 12% in trading on Wednesday morning.”Despite the announced departure of the English clubs, forced to take such decisions due to the pressure put on them, we are convinced our proposal is fully aligned with European law and regulations,” the ESL said late Tuesday.It added that it is “convinced that the current status quo of European football needs to change.”UEFA President Aleksander Ceferin had condemned the project, describing it as “a spit in the face” of all soccer lovers. Meanwhile, British Prime Minister Boris Johnson vowed to “thwart” it, and likened it to a “cartel.”The teams that originally agreed to play in the ESL included:England: Manchester United, Manchester City, Liverpool, Tottenham, Chelsea and Arsenal.Spain: Barcelona, Real Madrid and Atletico Madrid.Italy: Juventus, AC Milan and Inter Milan.On Monday evening, the chairman of the European Super League, Florentino Perez, said the plans to form the new breakaway elite competition were designed “to save” soccer.He pushed back against the widespread criticism by claiming that change is necessary because young people “are no longer interested” in the sport.—CNBC’s Sam Meredith contributed to this article. More

A newly-created South Asia Pacific and Middle East market will account for the majority of L’Oreal’s new business over the coming decade — with men making up a big part of that, the French cosmetics giant has said.The combined geographical zone — dubbed internally as SAPMENA — will cover 35 markets across South Asia Pacific, the Middle East and North Africa. Headquartered in Singapore, the new zone comes in response to shared consumer trends and growth opportunities, said the region’s president Vismay Sharma.”This region, or SAPMENA as we call it … is going to be a major growth engine for us. This is where we will acquire the most number of consumers in the coming decade,” he told CNBC Wednesday.The move also makes sense demographically, said Sharma. Collectively, the region is home to 40% of the world’s population with a median age of 28.”Over 40% of the consumers (in the region) are less than 25 years old,” he said. “That makes it extremely exciting for us and a very strategic market for the future.”The 112-year-old company is attempting to adapt to changing consumer habits and new markets despite holding up relatively well during the pandemic. Sales rose 10.2% in the first quarter of 2021, returning to near pre-pandemic levels.kyonntra | E+ | Getty ImagesHowever, Sharma said the coronavirus crisis had boosted certain categories including health and wellness and demand for sustainable products.Male cosmetics have also seen a surge in demand of late. Japanese beauty company Shiseido reportedly recorded double-digit growth of one of its male makeup lines in 2020, as male consumers became more conscious of their appearance during pandemic-induced video conference calls.Sharma said he expects the interest in male cosmetics to continue going forward, especially in the SAPMENA region.Particularly in Asia, we can see that men are much more discerning about their skin, about the fragrances that they wear, about their hairVismay Sharmapresident (SAPMENA), L’Oreal”In the past, men were not using enough beauty products — so penetration was much lower, the per capita consumption was much lower, the frequency of usage was much lower,” he said.Now, “particularly in Asia, we can see that men are much more discerning about their skin, about the fragrances that they wear, about their hair,” he continued.”This part becomes extremely interesting. In terms of growth percentages, we see significant growth coming from this part.”To be sure, however, in absolute terms, women will remain a significantly larger consumer base for beauty products for some time to come, he noted. More

In this articlePTONMaggie Lu uses a Peloton Tread treadmill during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada.Ethan Miller | Getty ImagesA public dispute with a federal agency over safety concerns and a chilling video of a child being dragged under a treadmill are threatening the community that Peloton has built.Time-pressed parents and workout addicts who own Peloton products are scratching their heads and taking to social media platforms and community chat rooms to discuss the fitness equipment manufacturer’s response to the U.S. Consumer Product Safety Commission. The agency is looking into the safety of Peloton’s high-end treadmill, which has now been linked to numerous injuries and one child’s death.Peloton has said it has no intent to recall its $4,300 Tread+, despite calls from regulators and politicians to do so.The back-and-forth further jeopardizes the launch of Peloton’s less-expensive treadmill machine in the U.S. later this year. Brand experts and attorneys caution that the longer this drags out, the greater risk Peloton runs of facing growing consumer backlash, requiring heftier damage control and costing more money.”There is a rule of thumb dating way back to the Tylenol case, where people were poisoned,” said Luc Wathieu, a professor of marketing at Georgetown University’s McDonough School of Business.Tylenol became a textbook crisis-management case in the 1980s, when someone tampered with capsules of Extra Strength Tylenol by adding lethal potassium cyanide, killing multiple people. Johnson & Johnson acted swiftly to develop a strategy to regain trust with Americans.”When there is a threat on the customer — one that becomes public like this — you have to overcompensate,” Wathieu said in a phone interview. “But, for some reason, companies have a tendency not to do this, even though it has been shown time and time again that you have to act quickly.”Over the weekend, the CPSC issued a statement saying consumers should stop using Peloton’s Tread+ machine when small children or pets are around. The move came after the organization’s investigation into the death of a child involving one of the Tread+ machines, as well as dozens of other reports of injuries.The commission simultaneously released a graphic video, captured by a home security camera, of a young boy being pulled under one of the Tread+ machines and struggling to free himself.The CPSC has further said that Peloton’s treadmills are designed differently than those of its peers, with “an unusual belt design that uses individual rigid rubberized slats or treads that are interlocked and ride on a rail.” That’s instead of a thinner, continuous belt. There is also a large gap between the floor and the belt of the Tread+, leaving room for things to wiggle their way under.Peloton said its design is meant to make running easier on the knees and legs.For now, the company is declining to take the product off the market or to make design changes. Peloton said it was “shocked and devastated” to learn about the fatality last month. However, it also issued a statement this past weekend that called the CPSC’s press release “inaccurate and misleading.”Peloton CEO and Co-founder John Foley wrote in a separate letter to treadmill owners that the company is working on a new software-enabled backup code “that will provide an additional layer of protection against unwanted use of the Tread+.””The Tread+ is safe when our warnings and safety instructions are followed,” Foley said in the letter.A Peloton spokesperson declined to comment further.’I haven’t seen such a fight like this’The business is better known for its stationary bicycles and didn’t launch a treadmill until 2018. First called the Tread, it is now known as the Tread+, because the company is preparing to begin selling a less-expensive version in the United States later this year. The smaller, cheaper model is already on sale in the U.K. and doesn’t include the same rigid slats as the Tread+.The clash with the CPSC hasn’t been good for Peloton’s stock. Shares fell 7% Monday. The stock closed Tuesday afternoon at $106.50, down another 1.2%. Over the past three months, Peloton shares have tumbled more than 32%, off an all-time intraday high of $171.09 hit on Jan. 14. It follows a huge run-up in 2020, when investors viewed Peloton as a stay-at-home play and pandemic beneficiary, sending the stock up more than 400%. But as fitness centers begin to reopen, some of those gains have been given up.According to BMO analyst Simeon Siegel, Peloton’s share price has recently been “detached” from the underlying fundamentals and reported results.The stock seems “ruled by perception and hope,” he said. Siegel has an underperform rating on Peloton shares with a price target of $45.”Most of Peloton’s market cap has been created by its marketing department, rather than its equipment, engineers, or its instructors,” Siegel said. “They have been telling a story. … And that Peloton story is so much larger than the Peloton-paying member base.”Over the last six months or so, Siegel said, Peloton’s messaging has started to stumble, as the business grows exponentially during the pandemic.”Whether it’s Tread+, or whether it’s responding to customers about the supply chain, … at the end of the day, as companies grow, they face obstacles, and they can’t all be faced with force,” Siegel said.While Peloton doesn’t break out sales of its treadmills versus cycles, Cowen & Co. has estimated that the Tread+ will represent about 2.2% of unit sales in 2021. That’s out of about 1.633 million stationary bikes and treadmills combined, it said.In 2020, Peloton reported $1.8 billion in revenue, up from $915 million a year earlier.Cowen analyst John Blackledge said he anticipates the bulk of Peloton’s treadmill opportunity longer term will come from its upcoming Tread model, which is priced more affordably than the $4,300 Tread+. Hopefully, he said, the newer model will avoid similar issues with the CPSC, since its belt doesn’t wrap under the machine.Peloton has said it is open to working with the CPSC to further ensure that its customers are safe. It said its classes include safety messages from instructors to remind users to keep their children, pets and other objects clear of the Tread+ during workouts, and to remove a safety key after workouts so that children can’t activate the machines.Disagreements with the federal agency that is responsible for protecting U.S. consumers from dangerous products, though, are rare. The CPSC can’t force a recall but has sued businesses in the past to get them to comply.Peloton has complied with the agency before, too. Last fall, it issued a recall for a version of its clip-in bike pedals due to risk of the axle breaking and injuring users, affecting about 27,000 bikes. “To be frank with you, I haven’t seen such a fight like this going on here,” said Anthony Gair, a partner at  Gair, Gair, Conason, Rubinowitz, Bloom, Hershenhorn, Steigman & Mackauf, which specializes in trying personal injury cases tied to defective products.”The CPSC must have reason to believe that it wasn’t designed appropriately,” he said. “Warnings are the last resort. And so, the question becomes this: ‘Did they do a proper hazard analysis, either yes or no?’ And if they did a proper hazard analysis, ‘Did that hazard analysis identify this danger?'” More