Three Things (9/13)

Tuesday, Sep 13th 2022

Commentary

The glitz and glam of NYFW

"If you can't be better than your competition, just dress better." - Anna Wintour


1) The glitz and glam of NYFW: Underneath the soles of Raf Simons shoes and in the inseam of Gucci pants, New York Fashion Week is far more than just a glitzy and profligate fashion show. Running from September 9th - 14th, the event is anticipated to drive over 240,000 visitors to the Big Apple and is expected to generate $900 million in revenue for the city's economy.

Titan's Takeaway: Despite the positive revenue influx created by fashion events like NYFW, the industry also must answer for the 92 million tons of textile waste it generates yearly. This fashion week, we wonder if solving luxury fashion's excess waste is top of mind for brands as consumers become more attuned to the climate impacts of products.

2) iOS 16 is out: Apple released its hotly-anticipated new iOS 16 software on Monday, allowing users to edit iMessages, customize iPhone lock screens, and schedule emails. The new software is available for any iPhone model 8 and on. The news comes on the heels of better-than-expected pre-order data where the iPhone 14 Pro Max is the best seller. 

Titan's Takeaway: The new upgrade is certainly comprehensive with changes ranging from Maps to the home screen, and speaks to Apple's unique understanding of user pain points. Despite its flashy products, Apple's true competitive advantage is, and has always been, its seamless operating system. 

3) Online prices surged in August: U.S. online prices rose 2.1% in August, driven by a surge in the price of groceries, according to Adobe's Digital Price Index. Food prices skyrocketed at an annual rate of 14.1% in August, offsetting declines in technology costs. Online retail spending constitutes 15% of all retail spending in the U.S. 

Titan's Takeaway: It's been a tough year for online retailers. Not only has the pandemic-induced e-commerce boom likely cooled, but now there is also concern that inflationary pressures are beginning to seep from goods into services. Online shopping, which once seemed safe from the claws of inflation-induced price hikes, may no longer be safe.

As of this writing, AAPL was a portfolio holding of Titan. This security may cease to be a portfolio holding at some point in the future.
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