The BoF VOICES 2023 global livestream will begin on Tuesday, November 28 at 3pm London time, 10am in New York with our first session on The Wider World including a rare public interview with the new global CEO of Chanel, Leena Nair.

Please find the full agenda for all sessions below.

SESSION 01: THE WIDER WORLD

Tuesday, November 28 (15:00-17:00 London | 10:00-12:00 New York)

From politics and the global economy to social issues and humanitarian crises, every fashion business is impacted by the wider world. Here we take a step back to understand the bigger picture.

THE AI DILEMMA

Aza Raskin

WHY SPACE IS THE NEXT FRONTIER FOR HUMANITY

Dana Baki and Hélène Huby

WE DARE TO DREAM: THE STORY OF THE REFUGEE OLYMPIC TEAM

Waad Al-Kateab with Joe Gebbia

THE COST OF BELONGING: NAVIGATING PRIVILEGE AS A TRANSGENDER MAN

Schuyler Bailar

RESPONSIBLE LEADERSHIP IN A CHALLENGING WORLD

Leena Nair with Imran Amed

SESSION 02: THE FASHION SYSTEM

Wednesday, November 29 (10:00-12:30 London | 05:00-07:30 New York)

The fashion industry is transforming before our eyes. Here we encounter the people who are asking questions about how it needs to change and imagining the exciting opportunities that could bring.

THE STATE OF FASHION 2024

Achim Berg with Imran Amed

QUIET LUXURY AND THE SEARCH FOR AUTHENTIC GENIUS

Brunello Cucinelli with Imran Amed

ENDING CLIMATE COLONIALISM

Sammy Oteng, Ayesha Barenblat and Vidhura Ralapanawe with Sarah Kent

OWNERSHIP INTELLIGENCE: THE TRANSFORMATIVE POTENTIAL OF DIGITAL PRODUCT PASSPORTS

Pierre-Nicolas Hurstel

FASHION ALCHEMY: CRAFTING THE IMPOSSIBLE

Matthieu Blazy with Tim Blanks

AFRICA’S FASHION YOUTHQUAKE!

Michelle Adepoju and Iretidayo Zaccheaus with Omoyemi Akerele

PERPETUAL RELEVANCE IN THE AGE OF DISTRACTION

Richard Dickson with Imran Amed

UNLOCKING CREATIVITY, PERFORMANCE AND THE ANCIENT CODE OF TOGETHERNESS

Tim Brown with Owen Eastwood

SESSION 03: TECHNOLOGY AND INNOVATION

Wednesday, November 29 (15:00-17:00 London | 10:00-12:00 New York)

We meet a daring group of scientists, technologists and entrepreneurs who are reshaping the world and, in the process, the way our industry will work in the future.

HOW AI IS TRANSFORMING FASHION AND LUXURY

Anca Marola

USING AI TO MEASURE AND CREATE BRAND MAGIC

Rahul Malik and Anurag Banerjee

AI AND THE FUTURE OF ADVERTISING

Rachel Higham, Roy Armale with Mariam Chahin

YOUR NEW CREATIVE COLLABORATOR: GENERATIVE AI

Kelly Wearstler and Andrés Reisinger with Imran Amed

AI FOR THE PEOPLE, BY THE PEOPLE

Manu Chopra

EARTH SPECIES PROJECT

Aza Raskin

ANCIENT ALGORITHMS AND THE MUSIC OF TOMORROW

Ali Sethi

SESSION 04: GLOBAL CULTURE AND CREATIVITY

Thursday, November 30 (10:30-12:30 London | 05:30-07:30 New York)

We are living in an era of global culture and creativity, fueled by the rise of technology platforms that connect us all to film, television, music, art, and fashion from across the planet. We take a tour around the world to meet inspiring creative leaders.

WE ARE ALL ARTISTS

Keith Yamashita

HOW CREATIVITY DRIVES CREATIVES CRAZY

Dan Levy and Jonathan Anderson with Tim Blanks

SMART OBEDIENCE: DECODING CONTEMPORARY ART IN SAUDI ARABIA

Abdulnasser Gharem, Halla Bint Khalid with Dr Ahmed Zaidi

FOOD IS CULTURE, AND CULTURE IS EVERYTHING

Shiza Shahid

BUILDINGS DON’T TELL STORIES ANYMORE

Thomas Heatherwick with Ross Bailey

WHY GOOD ENOUGH ISN’T GOOD ENOUGH

John C. Jay

HOW CREATIVITY CAN OPEN DOORS FOR WOMEN

Sharmeen Obaid-Chinoy with Diane von Furstenberg

SESSION 05: LIVE YOUR BEST LIFE

Thursday, November 30 (15:00-17:00 London | 10:00-12:00 New York)

Let’s put things into perspective. Listen to passionate individuals with inspiring stories and discover how to live a life with purpose and authenticity.

THE EBINUM BROTHERS

A special performance by Victory and Marvel Ebinum

THE PURPOSE OF LIGHT

Misan Harriman

BUILDING RESILIENCE: HOW TO THRIVE IN ADVERSITY AND UNCERTAINTY

Rita Ora

A BIG HUG: PROGERIA AND THE POWER OF POSITIVE THINKING

Sammy Basso with Annastasia Seebohm Giacomini

WHY I BUILD BRIDGES

Sumayya Vally

INSPIRATION, MANIFESTATION AND THE POWER OF LIGHT

Diane von Furstenberg with Deepak Chopra

SHAME AND VULNERABILITY: TAPPING INTO YOUR SUPERPOWER

Jonathan Mildenhall

For help with accessing the livestream, please contact our support team at: professional@businessoffashion.com

BoF VOICES 2023 is made possible in part by our partners Snapchat, McKinsey & Company, Porsche, Getty Images, Invisible Collection and Soho House.

Meet Our Speakers

BoF VOICES 2023 will showcase diverse speakers and moderators from the worlds of science, technology, health and wellness, food, film, politics, the arts, philosophy and philanthropy – and, of course, fashion.

Michelle Adepoju is the visionary founder and creative force behind Kilentar, a captivating womenswear brand rooted in the cultural richness of West Africa. Inspired by the artisanal brilliance discovered during her travels across the region, Michelle, with a background in Art and Marketing, Established Kilentar in 2020. The brand’s name, derived from Yoruba, translates to “What are you selling?” embodying its commitment to storytelling through fashion. Michelle Adepoju, passionately champions artisanal excellence through collaborations with female weavers in Burkina Faso and tie dyers in Nigeria. The brand’s commitment to sustainability is evident in their use of natural cotton and tie-dye techniques to create contemporary pieces that seamlessly blend tradition with modern design, all while sharing the rich narrative of Michelle’s heritage. This harmonious fusion of diverse craftsmanship underscores Kilentar’s dedication to empowering female artisans, fostering inclusivity, and celebrating the cultural identity of West Africa. Since its inception, Kilentar has gained acclaim as an “One to Watch Emerging Designers” and has been featured in publications like Vogue, CNN, Cosmopolitan, and more. Michelle Adepoju’s distinctive vision has positioned Kilentar as a trailblazer, not only for its stylish creations but for its commitment to weaving narratives of tradition, innovation, and empowerment into every piece.

Omoyemi Akerele is the founder and CEO of Lagos Fashion Week, a multi-day platform that presents African designers in Nigeria and beyond, and Style House Files (SHF). She has worked in the international fashion industry for over two decades and is credited for contributing to the acceleration of the African creative economy. Her work is focused on delivering long-term solutions within the African textile and apparel ecosystem by empowering brands, creative businesses and communities with opportunities for growth. Since founding, Lagos Fashion Week has expanded its scope of work, advocating for the industry with governmental organisations and investors, offering support for emerging talent and supporting all parts of the fashion industry value-chain. She has pioneered initiatives like SHF Trains, Woven Threads and Green Access whose goal is to strengthen socioeconomic and environmentally sustainable business opportunities of the African apparel industry. Akerele has worked with United Nations agencies – United Nations Industrial Development Organisation, She Trades and UNESCO as well as non-profit agencies including The BritishCouncil and British Fashion Council.

Waad Al-Kateab is a Syrian activist and filmmaker, whose debut feature film, For Sama, won a BAFTA for Best Documentary and received a nomination at the Academy Awards in 2020. Waad’s new film, “We Dare To Dream,” follows the steadfast journey of athletes in the Olympic Refugee Team. The film premiered at Tribeca Film Festival in June 2023 and is set to premiere this November. “We Dare To Dream,” commissioned by IOC for XTR, received the Grand Prize Documentary Award at the Heartland International Film Festival. Waad lives in London with her family, and is also the co-founder of the Action For Sama advocacy campaign aimed at ending the targeting of hospitals in the war in Syria.

Jonathan Anderson is the creative director of both Loewe and his eponymous label JW Anderson. Since launching his career in 2008, Anderson has created collections with brands ranging from Converse and Moncler to Topshop and Uniqlo. In 2016, Anderson founded the Loewe Foundation Craft Prize, the world’s first international award for contemporary craft and in 2017 he curated “Disobedient Bodies,” an exhibition at The Hepworth Wakefield museum in West Yorkshire, England. In 2019, Anderson was appointed to the board of trustees at London’s Victoria & Albert Museum. In 2020, the British Fashion Council, appointed him as an honoree of the Creativity Fashion Award, having named him as its first Designer of the Year for both menswear and womenswear in 2015.

Schuyler Bailar is an educator, author and activist who made history as the first transgender athlete to compete in any sport on a National Collegiate Athletics Association (NCAA) Division 1 men’s team. Originally recruited to swim for the Harvard women’s team, Bailar made the difficult choice to transition while potentially giving up the prospect of being an NCAA Champion. Instead, he was presented with the Harvard Director’s Award and named LGBTQ Nation’s Instagram Advocate for 2020. In 2021, Bailar released his coming-of-age novel, “Obie Is Man Enough,” and in 2022, he established LaneChanger, a learning series that makes gender literacy education accessible to every team, school, and company.

Ross Bailey is the founder and chief executive of Appear Here, a leading marketplace for retail space. Named the “Airbnb of Retail” by the Financial Times, Appear Here has a global community of over 300,000 creative entrepreneurs and brands looking to access the physical world differently. At 16, Bailey started his entrepreneurial journey when he left school, determined to launch his own business. Prior to founding Appear Here, Bailey launched a series pop-up shops in destinations across London, including the Rock & Rule pop-up for the Queen. Bailey has been named one of Fast Company’s Most Creative People in Business, Forbes 30 under 30 and the Financial Times’ Top 100 young entrepreneurs’.

Dana Baki is the chief commercial officer of The Exploration Company, a firm building reusable space capsules and lunar landers, including the Nyx capsule, which will be the first to use green propellant globally. Prior to joining The Exploration Company, Baki was the co-founder & COO of Munch:On, a food technology platform based out of the Middle East that was acquired by Uber subsidiary Careem. Before starting Munch:On, Baki was a partner of business development at Aljal Capital, a financing and venture capital firm based in the United Arab Emirates. Baki has also worked for Procter and Gamble in the United States gaining expertise in corporate strategy, marketing and consumer insights. She holds an MBA from Georgetown University and B.A. in Economics and English Literature from The University of Michigan.

Ayesha Barenblat is a social entrepreneur and founder of Remake, a San Francisco-based non-profit dedicated to building sustainable supply chains and eradicating harmful labour and environmental practices in the fashion industry. Prior to Remake, Barenblat led brand engagement at Better Work, a World Bank and United Nations partnership focusing on safe and decent working conditions in garment factories, and ran the fashion vertical at Business for Social Responsibility, a sustainable-business network and consulting company.

Sammy Basso is a biologist, spokesperson for the Italian Progeria Association Sammy Basso APS and global ambassador for the Progeria Research Foundation, playing a pivotal role in raising awareness of Hutchinson-Gilford Progeria Syndrome, a rare, progressive genetic disorder that accelerates the ageing of children, which Basso was diagnosed with at the age of two. In recognition of his commitment to inclusivity and inclusion with the help of scientific research, he was awarded the Knighthood of the Order of Merit of the Italian Republic in 2019.

Achim Berg is a senior partner in McKinsey & Company’s Frankfurt office. He is one of the co-founders of McKinsey’s Apparel, Fashion & Luxury group and was its global leader from 2016 until September 2023. With over 20 years of experience advising numerous leading brands, retailers, wholesalers and producers worldwide on a range of topics, he has deep expertise in the fashion and luxury goods sectors. Berg has advised on a broad range of topics, from full-scale transformations to corporate strategy, from merchandising improvements to buy-and-build programmes.

Halla Bint Khalid is an artist, children’s book author and illustrator based in located in Riyadh, Saudi Arabia. Bint Khalid is also a partner in Gharem Studio, a non-profit arts organisation that encourages self-expression, with artist Abdulnasser Gharem. The Museum of Modern Art in Tbilisi, Georgia hosted the artist’s first international solo exhibition “Tasleemah” in 2019. That same year, Bint Khalid also showcased her artwork at the Moscow Biennale of Contemporary Art.

Matthieu Blazy is the creative director of luxury fashion brand Bottega Veneta. Blazy started his fashion career as the men’s designer for Raf Simons and then joined Maison Margiela to design the Artisanal line and women’s ready-to-wear. In 2014, he became senior designer at Céline, before working again with Raf Simons at Calvin Klein from 2016 to 2019.

Tim Brown is chief innovation officer of Allbirds, the sustainability-focused footwear brand he co-founded in 2016 with Joey Zwillinger. As co chief executives, they led the start-up through global expansion from their base in California, taking the company public on Nasdaq in 2021. Brown stepped down from the co-chief executive role earlier this year as the brand continues its evolution from a direct-to-consumer pure play. Prior to Allbirds, Brown was a professional football player in his home country, New Zealand, helping his team to reach the 2010 World Cup. Over the course of these experiences, Brown has developed unique insights into teamwork, self-improvement and leading with a resilient mindset.

Mariam Chahin is the global director at Microsoft and is based in London, where she currently leads the Microsoft partnership with WPP aimed at bringing the best in technology to transform advertising. Originally from Beirut with two decades of global leadership experience across four industries including at consumer goods giant Procter and Gamble and Microsoft, Chahin champions diversity of thought and a culture of empowerment. She believes AI can be a superpower collapsing the gap between imagination and creation.

Deepak Chopra MD, FACP, is the founder of the Chopra Foundation, a non-profit entity for research on well-being and humanitarianism, and Chopra Global, a whole health company at the intersection of science and spirituality. Chopra is also the Clinical Professor of Family Medicine and Public Health at the University of California, San Diego, an Honorary Fellow in Medicine at the Royal College of Physicians and Surgeons of Glasgow and serves as a senior scientist with Gallup Organization. Chopra is a pioneer of integrative medicine and author of over 90 books published in more than 43 languages. Chopra has been New York Times bestsellers in both the fiction and nonfiction categories and is one of TIME magazine’s top 100 most influential people.

Manu Chopra is co-founder and chief executive of Kayra, an AI collective dedicated to providing vulnerable rural communities with sources of supplementary incomes. Before graduating from Stanford University with a degree in computer science in 2017, Chopra co-founded CS+Social Good — the university’s first student group focused on technology and social impact. Chopra has since launched a range of projects, including Project Mahatma, which provides students with leadership mentorship and training as well as Project Janta, which targets extreme poverty in India.

Brunello Cucinelli is the founder, chief executive and designer of his namesake luxury lifestyle brand. Born in Castel Rigone, he founded the Brunello Cucinelli brand in 1978 and captivated the market with his idea of dying cashmere. Over the next 15-20 years the brand remained entirely focused on one product category, until requests for a complete Brunello Cucinelli look expanded the brands product offering. Cucinelli took his business public in the Milan Bourse’s only IPO in 2012, and the company generated $444 million in revenue in 2013. Cucinelli built his company with a deep respect for his employees and the human impact of his business. In keeping with what he dubs a human capitalist philosophy, every stitch of clothing his company creates is made in Italy. Cucinelli has received a remarkable number of national and international recognitions for his philosophy and for his entrepreneurial business including nominations for a Cavaliere del Lavoro (Knight of Industry) by the President of the Italian Republic and a Cavaliere di Gran Croce al Merito della Repubblica Italiana (Knight of the Grand Cross of the Order of Merit of the Italian Republic). He has also received the 2021 Designer of the Year award from British GQ and the Neiman Marcus Award for Distinguished Service in the Field of Fashion in 2023.

Richard Dickson is president and chief executive of Gap Inc. having been a member of the board of directors of the company, whose portfolio includes Gap, Old Navy, Athleta and Banana Republic, since 2022. Before his appointment as Gap’s CEO in August 2023, Dickson was president and chief operating officer of Mattel, where he oversaw the company’s innovation strategy, design and development, brand marketing and franchise management. While at Mattel, he was also executive producer of the box-office hit, “Barbie.” He serves on the board of the UCLA Mattel Children’s Hospital, and the board of advisers for the University of Maryland’s Robert H. Smith School of Business.

Owen Eastwood is a performance coach and author. A former lawyer, Eastwood focuses on developing team and organisational strength for a lengthy roster of clients ranging from investment bankers to ballet dancers to football stars to global consultants. He is also a non-executive director of Harlequins Rugby Club in London. His first book, “Belonging: The Ancient Code of Togetherness,” was published in 2021 and is an international best-seller.

Joe Gebbia is an entrepreneur and designer. He co-founded Airbnb in 2007, the hospitality company that helped four million hosts welcome more than one billion across the globe. Gebbia’s contributions helped shape Airbnb’s brand to become a part of everyday life and common vernacular. Gebbia has also founded Airbnb.org, a community-powered non-profit, whose mission is to offer housing in times of crisis. Their emergency response efforts have housed over 300,000 people during natural disasters, the Covid-19 pandemic, and the global refugee crisis. Gebbia has recently departed his full-time operating role and has since transitioned to a strategic advisory position while serving on the board of directors of both Airbnb and Airbnb.org. His latest venture, Samara, specialises in factory-made homes designed to create rental income, house a family, or support work-from-home life. Gebbia is also a member of the San Antonio Spurs investor group and a Giving Pledge signatory where he backs the Eames Institute for Infinite Curiosity, The Ocean Clean Up, Malala Fund, and Kevin Durant Charity Foundation. Gebbia graduated from the Rhode Island School of Design (RISD) where he earned dual degrees in Graphic Design and Industrial Design. He serves on the RISD Board of Trustees, Olympic Refuge Foundation, and leadership council for the Malala Fund.

Abdulnasser Gharem is a former lieutenant colonel in the Saudi army, founder of non-profit arts organisation Gharem Studio. He is also the co-founder of the Edge of Arabia, an independent arts initiative focussed on appreciating Arab art and culture. In April 2011, his installation Message/Messenger sold for $842,500 at a Christie’s auction in Dubai. Gharem’s work is on display at the British Museum, the Victoria & Albert Museum, the Los Angeles County Museum of Art and the Saudi Arabian Ministry of Culture and Information.

Misan Harriman is a Nigerian-born British photographer and social activist. In 2020, he became the first Black man to shoot the September issue cover of British Vogue, with a spread featuring model Adwoa Aboah and English soccer player Marcus Rashford. During the Covid-19 lockdown in 2020, Harriman began his project “Lost in Isolation,” where he photographed neighbours in his hometown of Woking in Surrey, England. Harriman is also known for his images of the Black Lives Matter movement and Meghan Markle, the Duchess of Sussex’s 2021 pregnancy announcement.

Thomas Heatherwick is a UK-based designer. He founded his studio, Heatherwick Studio, in 1994 to bring together architecture, urban planning, product design and interiors into a single creative workspace. Working across multiple scales, locations and typologies, Heatherwick Studio has developed into a team of 200 makers and inventors with no signature style. With bases in London and Shanghai, the studio team is currently working on over 30 projects in ten countries, including Azabudai Hills, a six-hectare mixed-use development in the centre of Tokyo, the new headquarters for Google in Silicon Valley and London (in collaboration with Bjarke Ingels Group) and Airo, an electric car. The studio has also recently completed Little Island, a park and performance space on the Hudson River in New York; the Zeitz Museum of Contemporary Art Africa in Cape Town; and Coal Drops Yard, a major new retail district in King’s Cross, London. Heatherwick’s forthcoming book, Humanise, will be published by Penguin in October 2023.

Rachel Higham, is the chief information officer at advertising company WPP. Higham joined WPP in December 2020 to lead the creation of a new global IT organisation and a multi-year digital transformation programme. Over the past 25 years, Higham has served in technology leadership and transformation roles at major corporations and financial institutions including M&S Money, HSBC, ACE Group, and has worked across a number of geographies. Higham is passionate about building diverse teams and inclusive cultures and giving back through volunteering. She has been named as one of the top 30 global executives driving gender equality by Heroes, an organisation spotlighting women in the workplace. She has also been named one of the top ten inspirational leaders at the 2020 British LGBT awards. Higham serves as board chair of Fact, a digital and immersive arts charity in the United Kingdom, and is currently a trustee of cancer support charity Macmillan.

Hélène Huby is the co-founder and chief executive of The Exploration Company which builds reusable space capsules that carry goods and humans to space stations around the Earth and to the Moon. She has served as an executive at Airbus Defence & Space and ArianeGroup both in operational and strategic roles: from starting as head of innovation to leading major European space programs. She is the founder and chair of Urania Ventures, a deep tech investment company. She is the founder and chairman of The Karman Project, a non-profit foundation which fosters trust, independent dialogue and cooperation between the ones who shape the future of space. She graduated from ENS-Ulm, Sciences-Po Paris and ENA.

Pierre-Nicolas Hurstel is the co-founder and CEO of Arianee, a retail-focused blockchain project with a mission to enable brands to build a new user data infrastructure based on ownership and engagement through digital product Passports and digital membership cards. In his role, Hurstel has built Arianee into one of the leading digital product passport providers in the luxury industry, enabling major watch brands such as Breitling Richard Mille and IWC as well as fashion and beauty brands like YSL Beauty, Moncler, Mugler and Lacoste to employ the technology. Arianee has raised a total of $28 million in venture capital with global investors including Tiger Global, Commerce Ventures, Cygni Capital, BPI France, ISAI, Noia Capital and Mottier Ventures. Hurstel is highly involved in the French tech ecosystem, an active investor and advisor in several innovative tech companies. He is a permanent board member of NFT Paris and is also a frequent speaker at technology events such as Web Summit, NFT NYC, Ethcc, Premiere Vision, Who’s Next and BoF VOICES. Hurstel has lived in the US and in France. He is an alumnus of Toulouse Business School.

John C. Jay is the president of global creative for the retail holding company Fast Retailing, the parent company of international fashion brands such as Uniqlo, J Brand, Comptoir des Cotonniers and Theory. He’s worked across brands and agencies, including at creative agency Wieden + Kennedy, where he worked on Nike’s 1994 “City Attack” campaign.

Daniel Levy is an Emmy award-winning writer, producer, director and actor, best known for his work on the hit television show, “Schitt’s Creek,” which he co-created with his father. In 2022, his film and television production company, Not a Real Production Company, debuted its first series, “The Big Brunch,” on HBO Max. More recently, he wrote, produced and stars in “Good Grief,” a Netflix Original film, and plans to launch an adult animated comedy, “Standing By,” for Hulu, which he co-created with Ally Pankiw. In 2020, Levy re-launched a gender-fluid eyewear brand, DL Eyewear, which donates a portion of its profits to the Local Initiatives Support Corporation, a non-profit providing assistance to small businesses.

Anca Marola is group chief data officer of LVMH, responsible for the group’s data strategy across value chains. Over the past 15 years, Marola has focused on developing and sharing insights into the power of data science and digital innovation, particularly in the luxury industry. She is also a board member of the French Tech Corporate Community, a Franco-European grouping focused on technological transformation.

Jonathan Mildenhall is the co-founder and chair of TwentyFirstCenturyBrand, a consulting company that helps founders and chief executives realise the full potential of their brands through purpose-driven brand positioning work and values-driven marketing. Mildenhall counts companies such as Pinterest, Instacart, Netflix, and the Duke and Duchess of Sussex’s company, Archewell, as clients.

Leena Nair is the global chief executive officer at Chanel. Prior to joining Chanel, Nair spent 30 years at CPG giant Unilever, including as the company’s chief human resources officer and a member of its executive committee from 2016 to 2021. Nair is a highly respected visionary leader whose ability to champion a long-term, purpose-driven agenda is matched with a consistently strong record of business outcomes.

Sharmeen Obaid-Chinoy is a journalist and filmmaker based in Karachi, Pakistan. She is a two-time Academy Award-winner for her documentary shorts “Saving Face” and “Girl in the River: The Price of Forgiveness.” In Hollywood, she has also directed two episodes of “Ms. Marvel,” a series about the Marvel Cinematic Universe’s first Muslim superhero, and she will be the first woman and person of colour to direct a “Star Wars” movie.

Rita Ora is a singer-songwriter with over 10 billion streams and four UK number-one singles and was among the first artists to receive 2023′s inaugural Brit Billion award in 2023 in recognition of her music reaching the milestone of one billion career UK streams. Ora’s acclaimed singles and star-studded collaborations have earned her seven top 10 hits on the Billboard Dance Club Songs Chart, five of which reached number one; six top 20 singles on the Billboard Hot Dance/Electronic Songs Chart and a number three Billboard Hot 100 song. In 2019, she launched Próspero Tequila alongside Conecuh Brands and currently serves as chief creator partner. In 2022, Ora founded sustainable activewear brand Humans Being, where she is now its chief creative officer. Her film and television credits include the “Fifty Shades of Grey” franchise, “The Voice Australia,” “The X-Factor UK” and the Netflix series “Kung Fu Panda: The Dragon Knight.” Ora will soon star opposite Jamie Foxx and Robert De Niro in the film “Tin Soldier.”

Sammy Oteng is the senior community engagement manager at The Or Foundation, a non-profit organisation set up to promote a circular textiles economy. From his base in Ghana, Oteng works with the local Kantamanto community to advocate for a more-just secondhand clothing ecosystem, while also overseeing The Or’s programme that provides local debt and crisis relief. Oteng has also been a participant in global platforms to voice support for policies that hold fashion supply chains accountable for end-of-life products. Prior to his work at The Or, Oteng trained and worked as a fashion designer, becoming a Gucci Design Fellowship finalist.

Vidhura Ralapanawe is executive vice president for innovation and sustainability at global apparel manufacturer Epic Group in Sri Lanka. During his tenure at Epic, the company has committed to reaching a range of climate and sustainability targets while establishing a sustainable facility to design and manufacture low-impact products. Prior to Epic, he worked at manufacturer MAS Intimates, developing its sustainability road map. Ralapanawe is a board member of the Sustainable Apparel Coalition.

Aza Raskin is the Center for Humane Technology’s co-founder and programme adviser as well as co-founder and president of the Earth Species Project. He also co-hosts the podcast, Your Undivided Attention, is a co-chairing member of the World Economic Forum’s Global AI Counsel and helped found Mozilla Labs. Raskin was the subject of “The Social Dilemma,” a 2020 Emmy award-winning documentary about the impact of social media on our lives. The Berkeley, California-based mathematician and physicist was named Fast Company’s Master of Design, and was on Forbes and Inc. Magazine’s “30 Under 30″ lists.

Andrés Reisinger is an Argentinian digital artist currently based in Spain. His works include “The Shipping” and “Arcadia.” Reisinger’s works have drawn interest from a number of collectors, brands, art galleries and museums alike. He has exhibited at leading institutions including the Moco Museum in Barcelona, Palazzo Strozzi in Florence, Design Museum Gent in Ghent, Belgium, Nilufar Gallery in Milan, Collectible Fair in Brussels, Faena Art in Miami and Christie’s in New York.

Annastasia Seebohm Giacomini is chief executive of the Brilliant Minds Foundation, a global platform for creative and influential individuals to share ideas and experiences, with participants ranging from former US president Barack Obama to activist and supermodel Naomi Campbell. Previously, Seebohm Giacomini was group CEO of Quintessentially, a luxury lifestyle management group. Her work in international business has been profiled in Forbes, Vanity Fair and Harvard Business Review, among other publications. In 2020, Seebohm was among British GQ’s 50 most influential people in the UK.

Ali Sethi is a Pakistani-American writer and musician whose work explores South Asian identity. As a queer artist, Sethi is known for marshalling tradition in ways that upend binaries. Since 2015, Sethi has made music that blurs the lines between traditional and modern, and East and West. He has been a fixture on Pakistan’s Coke Studio television programme, collaborating with the likes of Pakistani singer and composer Abida Parveen, and has contributed to movie soundtracks and genre-busting albums, including Riz Ahmed’s “Swet Shop Boys,” Nicolas Jaar’s “Intiha” and Carnegie Hall’s multimedia orchestral work “Where We Lost Our Shadows.” In 2022, his song “Pasoori” earned over a billion streams and was Google’s most “hummed-to-search” song in the world. That same year, Sethi was named to the Time100 Next list. He is a graduate of Harvard University.

Shiza Shahid is the co-founder and co-chief executive officer of Our Place, a mission-driven start-up reimagining kitchenware for the modern, multi-ethnic, global kitchen. Our Place was founded in 2019 on the belief that home cooking has the power to bring people together.

Sumayya Vally is founder and principal of Counterspace, an architecture and research practice searching for expression for hybrid identities and territory, particularly for African and Islamic conditions—both rooted and diasporic. Vally been recognised as a World Economic Forum Young Global Leader and is Time100 Next list honoree. She sits on several boards, including the World Monuments Fund and is interested in supporting new networks of knowledge in the arts.Vally designed the 20th Serpentine Pavilion in London, making her the youngest architect to receive the commission. She was the artistic director of the inaugural Islamic Arts Biennale in Jeddah, Saudi Arabia. Vally has been praised for putting forth a decolonial definition of Islamic art, one that is resonant with the lived and embodied practices and experiences of the Islamic world. Practising adjacent to the academy, Vally has received numerous awards and institutional honours for her contributions to the field, including an Honorary Professorship from University College London and a gold medal from the Royal Architectural Institute of Canada.

Diane von Furstenberg is a fashion designer, philanthropist, author and businesswoman. Launching her luxury fashion house DVF and designing her now-iconic wrap dress in the 1970s, von Furstenberg has long been a supporter of female leadership, establishing the DVF Awards to honour, and provide grants to, women pursuing their dreams as leaders. Von Furstenberg has received numerous awards herself, including the Chevalier de la Légion D’Honneur and the Justice Ruth Bader Ginsburg Woman of Leadership Award. She was chair of the Council of Fashion Designers of America from 2006 to 2019 and continues to sit on its board, while also serving on the board of non-profit Vital Voices Global Partnership. She is the author of several books, including most recently, “Own It: The Secret to Life.”

Kelly Wearstler is an American interior designer and founder of her namesake design firm, Kelly Wearstler Interior Design. The 55-year-old designs high-end residential, commercial, retail and hospitality spaces. Her clients have included American musician Gwen Stefani, American actress Cameron Diaz and American film industry executive Stacey Snider. Wearstler is the author of five design books, and has been named to Architectural Digest’s 2021 Hall of Fame, the AD100 and a AD Spain Top International Designer.

Keith Yamashita is an artistic director and designer and is one of the founders of SYPartners, a design, communications and consulting firm. He is also the founder of the Kyu collective, a group of companies dedicated to using creativity to solve the world’s challenges. He has worked with Oprah Winfrey to launch The Life You Want tour—an eight-city stadium tour to help her followers build better lives. Yamashita collaborated with Steven Spielberg and Kate Capshaw to launch their philanthropic foundation — the Hearthland Foundation. He has worked with Laurene Powell Jobs on reimagining public education in America and has hosted gatherings to bring mindfulness to the realm of business with His Holiness the Dalai Lama. He is a frequent writer, commentator, and is the creator and host of This Human Moment, a series focused on art and renewal. Yamashita holds a Master’s degree in Organisational Behaviour and a Bachelor’s degree in Quantitative Economics from Stanford University.

Iretidayo ‘Ireti’ Zaccheaus, is the founder of Street Souk, the largest streetwear convention in Africa. Zaccheaus is also a creative and culture consultant, and has worked with brands such as Homecoming, Native, Nike, Fear of God, and Apple as well as artists including Davido, Tiwa Savage, and Odumodu Blvck. She also holds the position of creative director at Native Records, a British independent record label. Zaccheaus launched Street Souk in 2018 when she spotted a gap between the burgeoning streetwear scene and the avenues to nurture, grow and access these brands. She hopes to pioneer a movement and bridge the gap between the African and global streetwear community. Zaccheaus holds a Master’s degree in Marketing Strategy and Innovation from Bayes Business School (formerly CASS Business School) and a Bachelor’s degree in International Business Finance and Economics from the University of Manchester.

Dr Ahmed Zaidi is chief executive officer and co-founder of Hyran Technologies, an AI platform that helps brands and suppliers respond to consumer demand, increase profitability and reduce waste. Zaidi’s passion for solving the fashion industry’s overproduction problem, derived from his first-hand experience with his family’s knitwear manufacturing business in Pakistan.

BoF’s Marc Bain and Daniel-Yaw Miller unpack the findings from our case study Fashion’s New Rules For Sports Marketing.

Created by BoF’s journalists and editors, in conjunction with our wider network of leading fashion creatives, thought-leaders, and innovators, Masterclasses are in-depth webinars with supporting resources, designed to deliver key learning outcomes on critical industry topics.

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Background:

South Sudanese model Adut Akech has made her mark on fashion, having appeared on countless international magazine covers and on the runway for brands including Chanel and Prada. But Akech’s story begins worlds away from fashion shows and Vogue cover shoots: The model was born while her family was fleeing war in South Sudan and spent her early years in a Kenyan refugee camp.

“I will always be a refugee, because that’s who I am,” she told BoF’s editor-at-large Tim Blanks on stage at BoF VOICES in 2018. “No amount of money or my status or how famous or whatever the case is... I’m always going to be a refugee and I’m proud of who I am.”

This week on The BoF Podcast, revisit Akech and Blanks’ conversation, where they discuss Akech’s childhood and journey to the fashion industry.

Key Insights:

• Though she spent part of her childhood in a refugee camp, Akech recalls those years being mostly happy. “I didn’t know I was in a refugee camp, I had cousins there, I had friends… some of the best memories are just running around and playing,” she says.
• Her first experience modelling was in a small fashion show put on by her aunt, who was a fashion designer. That moment made her realise she wanted to model professionally. “I just fell in love instantly,” she says. “When I’m on the runway, I’m a whole different person.”
• Growing up, Akech idolised Black models Naomi Campbell and Alek Wek. Now, she serves as a source of inspiration for the next generation of Black models. “I have people messaging me saying I inspired them to love their Black skin, that I inspired them to chase their dreams,” she says.

BoF VOICES, our annual gathering for big thinkers, returns from November 28 to November 30, 2023, uniting the movers, shakers and trailblazers of the fashion industry with the thought leaders, entrepreneurs and inspiring people shaping the wider world. The entire event will be livestreamed for BoF Professional All-Access members. Register now to join us.

Additional Resources:

This article first appeared in The State of Fashion: Beauty report, co-published by BoF and McKinsey & Company.

Barring a financial market meltdown, beauty M&A is unlikely to lose its sheen any time soon. Both corporate and financial investors have good reason to gravitate towards beauty, a consumer category that continues to prove its attractiveness thanks to hefty amounts of resiliency and strong gross margins, despite economic headwinds. But competition for the most attractive assets will likely be intense. Deal partners on both sides of the table will need to recalibrate their expectations for deal success.

In many respects, the recalibration began in 2022. The onset of economic volatility and uncertainty last year impacted M&A: the average beauty M&A deal value in 2022 was less than half that of 2019 despite a similar number of deals taking place. Industry observers expect deal volume and average value to tick downwards in the short term, from the post-pandemic high when competition for sought-after challenger brands drove up valuations to record multiples. For example, Shiseido bought skin care brand Drunk Elephant in 2019 for $845 million, at least eight times its annual revenue of just over $100 million. The same year, Coty paid $600 million for a 51 percent stake in Kylie Cosmetics, with estimated annual net revenue of $177 million, which implied a 6.8 times revenue multiple.

Even as market uncertainties persisted in the early months of 2023, beauty’s attractiveness to deal-makers remains steady. EBITDA margins are averaging around 15 percent to 25 percent and, globally, McKinsey estimates that skin care, hair care, cosmetics and fragrance will see a compound annual growth rate of 6 percent through 2027.

Private equity and other financial investors will likely fuel deal-making as they look to add beauty brands to their portfolio companies or offload previous beauty acquisitions. These range from private equity players Advent International and TSG Consumer Partners to venture capital investors such as VMG Partners, Forerunner Ventures and Lerer Hippeau.

But it’s among beauty conglomerates that M&A will continue playing a particularly prominent role. Acquisitions are a necessary part of their strategy to increase growth and maintain their competitive edge. Of the 139 beauty deals that closed in 2022 to acquire stakes of 30 percent or more, conglomerates accounted for about 90 percent. Several of these conglomerates have also established their own early-stage investment arms, which include The Estée Lauder Companies’ New Incubation Ventures and L’Oréal’s Circular Innovation Fund.

It’s among beauty conglomerates that M&A will continue playing a particularly prominent role. Of the 139 beauty deals that closed in 2022 to acquire stakes of 30 percent or more, conglomerates accounted for about 90 percent.

For instance, Puig, owner of Paco Rabanne and Jean Paul Gaultier, announced plans in May 2022 to buy a majority stake in Byredo — the luxury fragrance brand founded in Stockholm in 2006. Though Puig did not disclose the agreed price, press reports at the time said Byredo’s valuation could be as high as $1 billion. A few months later, The Estée Lauder Companies announced its $2.8 billion acquisition of Tom Ford.

Discerning Deal-Makers

Recent earnings have provided evidence of how acquired brands can give their new owners a boost. In the second half of 2022, for example, The Estée Lauder Companies reported skin care sales declined 20 percent year on year, which was largely attributed to two of its oldest brands, Estée Lauder and Clinique. But The Ordinary, a brand The Estée Lauder Companies bought in 2021 which is known for its lower prices and ingredient-centric philosophy, offset category declines.

Conglomerates are also leaning into M&A to stay relevant and nimble in today’s market that requires innovation and novelty to capture consumers’ share of wallet. “M&A fills and accelerates the development pipeline. It’s critical to have what will appeal to the next generation,” said Nini Zhang, managing director at Bank of America’s consumer and retail investment banking group.

In return, corporates can facilitate global expansion by providing access to foreign distribution networks and leveraging relationships built over decades with partners. These investors also typically already have — or possess the expertise to build — infrastructure and systems that can reduce costs, streamline processes and provide economies of scale when, for instance, negotiating with suppliers or landlords.

According to Zhang, buyers and sellers need to ask themselves, “Where can corporates take the brand using their footprint, commercial structure, capabilities over the next five to 10 years?”

Sometimes, if the answer to that question doesn’t come easily, it may be better to reconsider a deal, even if it has long closed. In 2021, Shiseido carved out and sold colour cosmetics brands Laura Mercier, BareMinerals and Buxom to Advent International as part of a global strategy rethink to realign its focus on skin care, despite having acquired the brands only in the 2010s. Similarly, The Estée Lauder Companies closed makeup brand Becca Cosmetics that same year, less than five years after acquiring it for a reported $200 million. While Becca was once a beauty favourite, post-acquisition it struggled to cultivate a loyal consumer base and suffered as colour cosmetics sales declined even further during the pandemic.

And as proven all too often in the past, timing is critical — as in the case of L’Oréal’s April 2023 announcement of its $2.5 billion acquisition of personal care and grooming brand Aesop. Following the announcement, industry watchers observed that the deal would give L’Oréal a brand that has both luxury and mass appeal. The deal took place at a critical moment in Aesop’s journey to cult favourite, which The Business of Beauty likened to The Estée Lauder Companies’ acquisition of Le Labo in 2014, just when the perfumer’s Santal 33 was riding a wave of popularity.

What’s on the Horizon?

Where does this leave target brands? While a focus on revenue generation once sufficed to make a buzzy start-up attract suitors, evidence of sustainable profitability will be front of mind for investors. Meanwhile, the strength of intangible (and sometimes hard-to-value) assets such as strong brand identities, visionary leadership or loyal customer communities could make or break a deal. Targets will also need to indicate that they have the potential to scale in new markets or categories, using storytelling or product development strategies that can resonate across markets regionally or even globally. Due diligence will also need to sense check for any incompatibility between buyers and their targets.

Meanwhile, acquirers’ post-merger plans must address and mitigate common risks in such deals — like the acquired brand losing longtime loyal customers. Whether they are long-term or short-term buyers, acquirers must also incentivise management teams to stay engaged and ensure the continuity of the brand DNA as it scales.

Deal-making is at an inflection point. Ongoing economic and geopolitical uncertainties underscore how buyers and sellers must anticipate different approaches to M&A as market conditions change. Industry observers expect fewer, higher quality deals in the near term. Increasing challenges in acquiring larger brands are expected to result in a greater focus on targets earlier in their lifecycles than their predecessors. Over the longer term, beauty deal activity is likely to continue at pace or increase due to the sector’s attractiveness.

“I don’t think we will go back to the high-volume environment of 2021, but it will continue to be reasonably robust with a steady flow of brands coming to the market,” said Cosmo Roe, partner at Goldman Sachs. “I don’t see a change in valuations in the near term. Even if cost of capital is up, the truth is these categories are super competitive and there are many well-capitalised buyers.”

Skin care, niche fragrance and hair care will be closely watched by buyers, due to those categories’ expected growth, increased premiumisation and potential for product innovation. Private equity investors will also look beyond brands for opportunities to participate in beauty’s growth, considering contract manufacturers, turnkey solution providers or ingredient suppliers.

For their part, conglomerates will seek to bring more brands into their fold, much along the lines of what L’Oréal has already been doing: prior to its acquisition of Aesop, it purchased clean skin care brand Youth To The People in 2021, and Skin Better Science in 2022, to further fill out its Dermatological Beauty division.

“We see a relatively solid pipeline of assets and in terms of size,” said Goldman Sachs managing director Jelena Djuric. “The majority of businesses that get sold in the category are within $75 million to $200 million in sales; we would expect that the majority of activity will be in this range.”

Overall, M&A is expected to continue with fewer, higher-quality deals at high multiples in the near term. In this environment, acquirers will need to become more sophisticated, building on experience from previous deals and sharpening their ability to identify long-term winners through increasingly stringent due diligence processes. This will require zeroing in on the few differentiated and scalable businesses and having the conviction to back them.

For a deeper look into the report, join us for the global livestream of The Business of Beauty Global Forum on May 30 and 31, 2023. Click here for all the details on how to sign up.

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Background:

At BoF VOICES 2022, fashion model Dennis Okwera spoke about his childhood in Uganda, fleeing home to avoid the violent life of becoming a child soldier in the rebel group Lord’s Resistance Army, coming to the UK as a refugee at the age of nine.

Though he was scouted multiple times while living in the UK, it wasn’t until he was attending university that Okwera decided to pursue modelling.

This week on the BoF podcast, model Okwera discusses his childhood escaping a guerilla army in Uganda, his adult life as a model in the UK and how he used his success to give back to his community.

“Let’s just be a little bit kinder to each other, especially to refugees. Just see them with an open mindset; we’re just looking for security and freedom, that’s it really,” said Okwera.

Key Insights:

• After Okwera was scouted he said at first his father objected to the idea of him modelling. “The first time I got scouted, my dad was like; ‘No, no, you’re not doing it.’ You know, this is an African dad who thinks anything outside of education is a complete failure,” he says
• When Okwera first started his modelling career he had the opportunity to work with designer Grace Wales Bonner when she was still a student attending Central Saint Martins.
• Thanks to his career in modelling, Okwera was able to put his cousins through school and support his aunt who was diagnosed with HIV. Okwera says the “sole purpose” of him pursuing a modelling career was to support his family.
• After travelling back to Uganda to donate sanitary essentials like diapers and formula, Okwera reunited with his mother after 24 years of being away. “I didn’t know what it was like to have your own mum,” said Okwera.

Additional Resources:

• BoF VOICES 2022: Live Your Best Life: During last year’s BoF VOICES model Dennis Okwera discussed his childhood escaping the rebel group, Lord’s Resistance Army and fleeing Uganda to live in the UK.

Subscribe to the BoF Podcast here.

Background:

Starting in 1999, Larry Miller worked alongside Michael Jordan to build the Jordan brand, which does more than $5 billion in revenue. But his journey to the C-suite was a unique one.

Growing up in West Philadelphia, Miller joined a gang, which led him to serve multiple prison sentences for a series of crimes, including the second-degree murder.

Through a rehabilitation programme, he was able to begin his college education while in prison, and upon release, he was able to start his career with an accounting job at the Campbell Soup Company. In 1997, Miller started working for Nike under founder Phil Knight, and became the first Black vice president in apparel at the company before going on to become president of the Jordan brand in 1999.

But it wasn’t until years later that he went public about his backstory with the publication of his book, “Jump: My Secret Journey From the Streets to the Boardroom.”

At BoF VOICES 2022, Miller sat down with UTA executive Darnell Strom to share his story, talk about the power of second chances and explain how he found redemption.

“I’ve come to the realisation that a lot of times we are afraid to talk about the obstacles that we overcome. But in reality there’s no shame in overcoming obstacles,” said Miller.

Key Insights:

• “When I was 16, I shot a kid and he died and I was charged as an adult at 16 years old… pleaded guilty to second-degree murder, was sentenced to four and a half to 20 years,” Miller revealed at BoF VOICES 2022.
• Once he had revealed his story, Miller says Michael Jordan and Phil Knight were supportive and encouraged him to share his story. “It’s been amazing to me the response that I’ve gotten from people who I’ve known and worked with and who have just encouraged me and embraced the fact that I’ve got this past.”
• Following the release of his book, Miller apologised to the family of Edward David White, the man he killed. In White’s honour Miller created a foundation for his descendents to attend university or trade school.
• “I think I’m a perfect example of the fact that a person can change if given the right opportunities… the right chance. But it starts inside of you. You have to believe that you can change,” said Miller.

Additional Resources:

23rd February at 15:00 GMT / 10:00 EST

Featuring Florian Heubrandner, vice president of global textiles business, Lenzing and Nina Marenzi, founder and director of The Sustainable Angle & Future Fabrics Expo, in conversation with BoF’s senior content strategist Alice Gividen.

This #BoFLIVE is brought to you in partnership with Lenzing.

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