Gianna Haryanto

Tax Transparency Insights Welcome to Tax Transparency Insights from Project AITAX13 We are delighted to kick-off our first Tax Transparency Insight Report by reviewing Pandora Group 2023. As the world’s largest jewellery brand, Pandora also has a vision to be the most desirable jewellery brand in the accessible luxury market. Pandora Group is a leader in sustainability and their sustainability strategy is also reflected in their approach to taxes (including their transparent Pillar 2 Impact plans). They are open and transparent in terms of Public Country by Country Reporting - years ahead of their peers - and should be applauded for their commitment to Tax Transparency. The first Project AITAX13 Tax Transparency Insights Report covers Pandora Groups 2023 Report with comparatives from 2022 and 2021 * A Tax Overview - looking at the Group Effective Tax Rate and the material impact of the Thailand Incentive Programme * A Transfer Pricing Review - focusing on Denmark, Thailand, US, Germany and Mexico  * A Net Margin by Country Review - reflecting the potential risks associated with the application of Transfer Pricing in a number of countries * A Headcount by Country Review - reflecting significant headcount changes in Thailand, US and other countries. * An ETR by Country Review - highlighting potential post Transfer Pricing issues in Thailand, UK, Mexico, Italy, France and China * A Trading Performance by Country Review - focusing on post Transfer Pricing Losses recorded in 2023 in 8 of the 46 countries. We hope you enjoy our report - the first of our Tax Transparency Insights Reports. It is our intention to release 2 `Tax Transparency Insights` Reports each week (focusing on a specific company, industry or country). We welcome comments / feedback / recommendations for future enhancements to our Reports and our Knowledge Database (https://lnkd.in/eKtjicHg) Thank you, The Project AITAX13 Team

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🗞 The 15th Annual Global Fashion Summit in Copenhagen's iconic Concert Hall challenged attendees to move beyond presentations and into action. While some sessions felt like a retread of old ground, others offered fresh perspectives and a call to arms. On that note, I'm excited to share some interesting discoveries from the Summit. With a lens on Business & Technology, here are the things we are watching from the Global Fashion Agenda's GFS 2024. 🌿 We look at fresh ways of doing business as set forth by Ellen MacArthur Foundation The Fashion ReModel, collective financing in a partnership between The Fashion Pact Apparel Impact Institute DBS Bank on Future Supplier Initiative, and the gritty Collective Bargaining Agreement breaking new grounds in Cambodia on worker wages set into motion by IndustriALL Global Union 👏 💡 What's up in tech? We look at Worldly, helping brands get a better view of their value chain and prepare for better reporting, Hyran Technologies leveraging AI-powered tech with a mission to end oversupply, Hakio trying to revolutionise deman-forecasting model, as well. Reverse Resources aims to do more with textile waste and they're conquering the waste world quick. Lastly, we look at regenerative textiles from the lens of Bloom Labs and Modern Meadow. 👗 Hope you enjoy - do share your thoughts! 📩 #globalfashionsummit #sustainablefashion #businessmodels #tech

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The Secret Sauce // How did Pandora become the biggest jewellery brand in the world? For the second time this year Pandora is raising its revenue forecast for 2024, delivering 15% organic growth in Q2. It is another set of excellent financial results as the jewellery company's impressive growth journey continues. This comes off the back of a hugely successful 2023 which saw the stock price rise 66% and further establish Pandora as the world's largest jewellery brand. Pandora's growth story is testament to the value in investing in a deep understanding of consumers. As Pandora's CEO Alexander Lacik has previously said: “What is common for brands that are successful? What I have found is that you really need to get deep in understanding your consumer, understanding their needs and wants, and then figure out whether you have what it takes to serve them something that appeals to them.”   But Pandora's success today has its roots in years of soul-searching as a company. "Back in 2017, the company had some trouble, coming out of a wave of massive success," said Lacik. "People felt the brand had lost its clarity. They didn't really know what Pandora was standing for anymore. We had to ask ourselves if our proposition was still relevant."   In Lacik's words, the company needed to "remove a fog around the core". By reinvesting in its consumer and in understanding its core reason for being, Pandora has managed to clarify its value proposition and refocus its efforts on playing a meaningful role in people's lives. "If you think of healthy brands, the ones surviving our time, they all have a so-called 'human truth'. They live up to some things that resonate with us as humans," says Lacik. "The core of Pandora is the idea about expressing yourself." Pandora is proof that when brands have the courage to continuously interrogate that human truth and innovate on ways to deliver on it, they become culturally iconic. "Our strategy continues to take Pandora to new heights despite general consumer spending being somewhat sluggish," Lacik says about today's Q2 results.

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Creating a sustainable industry and offer is easy to talk about, but it is less easy to deliver - and the cost will always be an issue. But we, as an industry and as brands, must be looking at real solutions to ensure the cost is not lazily passed on to shoppers. With news that H&M, Gap, MANGO and BESTSELLER are seeking to deliver loans for decarbonisation by manufacturers we are seeing steps in the right direction, but more schemes - and ones which truly delvier in the eyes of consumers - are needed. #sustainability #fashion #transparency

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From Gretar Thorsteinsson, Lead Product Manager at Pandora #PIMpoint2024 Why does Pandora need PIM? To fulfill their mission of being (and remaining) the largest and most desirable brand in the accessible jewelry market.   They sell 3 pieces of jewelry every second. In 6500+ stores across 100+ countries they have 150M customers and 750M visitors in store and online inriver PIM provides the foundation they need to scale. To satisfy all customers, from the jewelry aficionado to the gifter. To standardize jewelry bundles. To track product data analytics. To reduce duplicate work. To create a consistent user experience. To promote its incredible sustainability story. (Did you know that in 2024, they aim to sell only recycled gold and silver?) #PIMpoint2024 #PIM #ProductInformationManagement inriver

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Pop-Up Extended due to great success! 🎉 One Month of Promoting alternative choices from the COSH! network at the P&C Conscious Fashion Store Berlin! 🎉 It’s hard to believe it’s already been a month since we opened our beautiful pop-up. This journey has been incredible, and we are immensely grateful for Thimo Schwenzfeier opening his doors for COSH! Conscious Shopping Made Easy members to come and test how their products would do in the German market. From post-consumer fibre recycled Be The Fibre laptop bags by social impact ngo Wereld Missie Hulp from Belgium, Handmade in Brugge bags from Leather Be - Jansseune Francine, Upcycled sails in 8beaufort.Hamburg sneakers, Owl Bee upcycled parachutes from Barcelona, PLA 3D-printed ear jewelry by GalloBuey from the Canary Islands, eyewear from 5Loops – sustainable eyewear or handmade soaps by Nature Bar from Amsterdam; The pop-up reflects citizens' many choices for adopting products made from upcycling waste streams. Considering no (more) circular fashion brand can thrive without a large enough consumer demand. Even though sales vary with absolute winners 💸 and brands learnings on pricepoint versus style 👩‍🎓, all entrepreneurs testify they saw an online traffic increase in their webshop. 🎉 In less then 1 month, 2 brands secured shop collaborations with other stores due to the pop-up 🥂 and many experienced a larger demand in their domestic market. So I am happy to announce we are extending the COSH! Conscious Shopping Made Easy pop-up with a summer and a fall edition with many new brands already signing to be part. We are eager to repeat this success formula in other cities: more traffic in department stores that see a decline and might have space to fill - offering visibility to brands looking to test new markets and ideally fostering new collaborations between multi-brand stores and brands who might not have sales agents or whom might not attend (all) trade fairs. Retail is changing, so let's find new ways to make the ecosystem thrive. 🙌 https://lnkd.in/esxXpAqq Please do reach out per DM if this resonates with you as a store or brand. Like, share, or love if you agree retail is in transition and new ways of doing business and fostering ecosystems must be tested.

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“Global fashion brands Gap, H&M, BESTSELLER and Mango are putting aside business rivalry to take part in a global project aimed at financing decarbonisation of the sector.” 👏👏👏 One of our core visions is to help retailers become more sustainable. These retailers are approaching that at the factory. Dropit’s approach is to help retailers reduce waste from overbuying. When retailers make smarter decisions with our solution, stock is located where it’s most likely to sell. This is inventory optimization, contributing to less waste. It’s a win for sustainability and profitability. Learn more about what Dropit can do at https://www.dropit.shop/ https://lnkd.in/eXnuSF44 #inventorymanagement #dropit

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Did Rosalía just tease a collab with ZARA SA? She had the media buzzing with her surprise visit to Inditex's headquarters in March, generating over $2M in Media Impact Value™ (MIV®). Q1 is a crucial period for mass market fashion brands to make a strong impression and Zara definitely achieved this. Our new report ‘Mass Market Fashion: The Brands Embracing 2024 Opportunities and Navigating Uncertainty’ goes behind the scenes to analyze their performance and the bigger industry trends that could impact your own marketing strategies. But that's not all - we also dive deep into the state of the mass market fashion space, providing a competitive analysis of 10 top players and helping you get a 360-degree view of the industry landscape and where your brand stands. This report is a must-have for fashion marketers determined to stay ahead of the curve. Don't miss out now 🔗 https://bit.ly/3JofTw8 #FashionMarketing #MassMarket #FashionReport #DataInsights #BrandPerformance #MarketingTrends

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The fashion industry is facing enormous challenges, but with challenges come opportunities. After 15 years in the industry and many lessons learned from starting my own sustainable brand and consultancy firm, I've truly experienced both the hurdles and the potential for positive change. One of the biggest challenges is finding sustainable materials and ensuring that production is environmentally friendly. For example, the global market for organic cotton grew by 31% in 2020, reflecting a significant shift towards more sustainable raw materials, according to the Textile Exchange. It's not always easy, but by working closely with our suppliers and setting high standards, we can make a significant difference. Additionally, we need to get better at managing waste and overproduction. The fashion industry produces an estimated 92 million tons of textile waste annually, as reported by the Ellen MacArthur Foundation. Investing in recycling and creating circular business models is essential to reducing this waste. Transparency is another major issue; ensuring that materials are sourced responsibly requires a lot of effort and cooperation across the supply chain. Brands like Everlane, with their “Radical Transparency” campaign, show how detailed information about factory conditions and material sourcing can build consumer trust. The transportation of our products is also a significant challenge in terms of carbon emissions. The Global Fashion Agenda reports that transportation accounts for 10% of the fashion industry's carbon footprint. There's a lot we can do here to optimize and choose more eco-friendly options, such as carbon-neutral shipping methods. For me, sustainability in fashion is truly my passion. Running businesses that are not only successful but also good for the planet is what motivates me every day. I strongly believe in the power of collaboration and strong relationships within the industry and across industries. Building long-term relationships with suppliers who share our sustainability goals is key. By working together, we can reduce our environmental impact and create a more sustainable future for the industry. What challenges have you faced in making fashion more sustainable? If you're interested in talking more about sustainability in fashion or if you have any ideas on how we can collaborate, please reach out! I love discussing new opportunities and how we can make a difference together. #Sustainability #Fashion #BusinessDevelopment #Environment #Climate #CircularEconomy #SustainableMaterials #Recycling

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As the FW24/25 peak season approaches, fashion brands are gearing up for the busiest time of the year—Black Friday, Christmas, and January sales. However, alongside the potential for increased revenue comes a significant challenge: managing size & fit issues. Read the full article to see the 7 main challenges for the upcoming season >> https://lnkd.in/dcm6S42n #NaizFit #Sizing #Returns #SizeConsistency

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If you're trying to expand your brand's reach and break into new markets, take a look at these Scandi brands for inspo. Our new blog examines the Scandinavian fashion brands that have become a staple in every style icon's wardrobe worldwide while exploring how to expand into different regions successfully. This expansion requires a well-considered, carefully planned Voice approach that caters to the nuances of modern audiences in today's marketing landscape. We break down the effective marketing strategies NA-KD, Cos, and Ganni used to forge deeper connections in various regions. As well how to leverage a multi-tier influencer strategy. Additionally, we explain how to track your brand's impact and benchmark it against your biggest competitors, allowing you to make data-backed decisions. Read it now 🔗 https://bit.ly/3y0ltmD #ScandinavianBrands #FashionMarketing #InfluencerMarketing #CelebrityMarketing #MarketingStrategy #DataDrivenInsights

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Copy, Paste, Profit: The Steve Madden Method Steve Madden has built a billion-dollar brand on designer-inspired looks without the designer price tag. However, his "inspired by" strategy often lands him in legal hot water. Recently, a Danish court ruled that Madden’s Grand Ave shoe too closely resembled Ganni’s Buckle Ballerina, adding to a growing list of lawsuits from brands like Valentino, Dr. Martens, and Converse. Is Madden a savvy businessman meeting consumer demand, or does he take "inspiration" too far? Check out the story for an in-depth look at whether his quick-settlement approach is a smart strategy or a risky gamble. In fashion, the line between inspiration and imitation is razor-thin, and the stakes are high. Don’t miss out on this article.

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🎁 Thank you Fashion Network for covering International Association of Department Stores - IADS latest findings in loyalty and rewards! (link in comments, French, paywall) 💘 Loyalty is key, and not only in retail. However, retail is very much aware of its power: to paraphrase Euripides, "one loyal customer is worth ten thousand occasional shoppers". But what is loyalty? Points on a card? For a long time, yes. Points-based programs are easy to implement and to understand... in theory. It is proven that actually many customers feel frustrated as they are under the impression they do not master these enough to make the most of them. Also, they expect discounts... which is costly for the retailer and dangerous in terms of image. This is why many IADS members are now considering a new approach, based on "what money can't buy". And it does not have to systematically be something out of this world: at El Palacio de Hierro, perks include a range of things from free parking lots just near the store, to a special meal in their gourmet restaurant. The Mall Group offers its most loyal customers a range of perks going from access to pre-sales to exclusive use of special lounges. ➡ The key behind that is the use of data, as Boyner Buyuk Magazacilik A.S., a leading department store in that field thanks to their Hopi loyalty program, points out: it is all about making the right choices when it comes to segmentation and profiling, and being able to use it properly. For instance, Manor SA has already started to address its customers through personas which are defined by a myriad of data points including demographics, affinities, regional clustering... Going further, others are considering giving access for free to third party services such as Spotify or even teaming up with airports to create VIP lanes for their top spenders. A well-segmented customer is a happy customer. And happiness, through loyalty, leads to advocacy. What else? ☕

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How do we love thee, Pandora jewelry? Let us count one more way. Pandora A/S issued EUR500 million in Sustainability-linked notes. The 6-year notes carry a coupon of 3.875% per annum and will be listed on Euronext Dublin. The issue has a Baa2 rating from Moody's Ratings’ and a rating of BBB from Standard & Poor’s. The sustainability targets in this bond issuance are: (1) a 36% reduction of Scopes 1, 2, and 3 emissions by 2028 versus 2019 levels, and (2) at least 44% women in corporate leadership at the vice-president level and above (including board) by 2028. If the targets are not met, there is provision for up to 1% of additional repayment of principal, with 60% of the penalty tied to the emissions target and 40% tied to the gender equality target. Sustainability-linked bonds, which have terms tied to corporate performance around stated targets, are one of four types of sustainable debt available to investors. This is a good example of how gender equality targets can be included in a corporate bond issuance. We publish quarterly updates on gender equality focused fixed income, including several types of Gender bonds, a sustainable debt asset class. See here for our latest quarterly review of equality focused investing at bit.ly/GLIQ. S&P Global #SustainabilityLinkedBond #SustainableInvesting #Environmental #Social #WomenInLeadership #GenderEquality

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A little bit about us - We are SUBTLEGEND. Fashion & luxury business consulting for the next generation of brands. We are focused on getting brands closer to their customers. Our results-driven, customer-centric approach has rightsized DTC, B2B, e-commerce, brick & mortar, and legacy brands across North America, Europe, Asia, & Australia. A note on the founder, GRACE LANE Having been a resource to thousands of businesses across North America, Europe, Australia, & Asia, Grace is known as a strategist, fixer, podcast host, & founding member of a growing private portfolio of businesses. Sick of unnecessary red-tape & excuse-filled corporations, Grace founded SUBTLEGEND in 2019, a bespoke consulting firm focused on nothing other than getting results for it's clients. SUBTLEGEND prides itself on long-term client relationships. “Our clients are often with us for years. The majority of those that worked one-on-one with us at our founding, still do today. But businesses change and flow,” says Grace.   When asked about what happens when clients don’t take her advice, Grace’s perspective is enlightening. “Our goal isn’t to have the best advice or the most right answer for our clients. Our job is to give them solutions to problems that we know they can carry out. It’s not about being right. It’s about getting it done.” We are focused on our clients. Just ask them, we are who you call.

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STORY3 INVESTS IN LUXURY ECOMMERCE PLATFORM SAKS.COM FashionUnited STORY3 Capital Partners has announced a significant new investment in luxury ecommerce destinations Saks.com. Commenting on funding in Saks, Peter Comisar, founder and managing partner of STORY3 Capital Partners and former Goldman Sachs Partner, stated, "We believe we are at the early innings of powerful global growth and penetration for luxury brands. As new international regions become enchanted with the culture of fashion, no one is better positioned to be the beacon of taste and omni-channel excellence than Saks." The company said in a statement that the new investment provides liquidity for Saks' next wave of growth including support for its distinguished product curation driven partnerships with the world's leading luxury brands. "Saks has exponential growth potential empowered by the tipping point of AI, personalization and resultant cohort monetization. As such, Saks is well positioned to be the leading global voice and influencer in luxury," added Samir Shah, Story3 partner. https://lnkd.in/gAm_E6Rn #ai #ecommerce #investment #fashion #btc #metaverse

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Why Renting is the New “It” Way to Wear ASK Scandinavia Bags At ASK Scandinavia, we’re all about thoughtful choices and making fashion better for you—and for the planet. Our rental program is designed to let you experience the joy of our premium, responsibly made bags without the full commitment. And the benefits? They’re something we’re excited to share. ✨ A Style for Every Story Why limit yourself to just one look? Special event? Business trip? Weekend away? Rent the perfect bag for each occasion. 🌿 Make a Minimal Impact, Make a Big Difference When you rent, you’re saying yes to extending the lifecycle of our bags and reducing fashion waste. 💚 Sustainable Luxury, Accessible to All Experience the quality and craftsmanship of our bags at a fraction of the purchase price. And if you fall in love with a bag, you can always make it yours for good. Let’s redefine fashion, together. Rent. Reuse. Refresh. The future of style is responsible—and we’re so glad to have you with us. Explore our rental program here 👉 https://lnkd.in/ddkiNaP3 #RentResponsibly #ASKScandinavia #SustainableFashion #CircularEconomy #FashionWithPurpose

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It’s time to accelerate the future of fashion - but what does that look like? 🔮 We asked Zalando, H&M Group, Primark and Arc'teryx, some of the participants of our latest demonstration project - The Fashion ReModel, to describe what the future of the fashion industry looks like to them. Today, the fashion industry operates under a take-make-waste model, meaning millions of tonnes of clothing are produced, worn, and discarded every year. We must reinvent this wasteful linear system and fundamentally transform the way we design, make, and ultimately enjoy our clothes. The Fashion ReModel aims to identify solutions and unlock barriers in order to scale circular business models and begin to decouple revenue from production - and the participants have begun their journey to get there. Learn more here: https://lnkd.in/e2qCTVE2

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