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Met Gala 2023: Pearls, diamonds and felines

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Stars have arrived at New York’s Metropolitan Museum of Art for the annual event, honouring Karl Lagerfeld

The last of the Met Gala attendees have arrived on the red – or cream – carpet for fashion’s biggest night of the year.

The annual charity event is hosted at the Metropolitan Museum of Art in New York.

This year’s hosts are Penelope Cruz, Roger Federer, Dua Lipa, Michaela Michaela Coel and Chairwoman of the Met Gala, Anna Wintour.

The event raises money for the Museum, and tickets are rumoured to cost upwards of $50,000 per head.

Dua Lipa spoke to Variety about the significance of her look and, more importantly, the diamond hanging around her neck.

It’s a Tiffany diamond, which Lipa says “hasn’t been seen before”.

The 2023 theme is “Karl Lagerfeld: A Line of Beauty” and guests honoured the iconic designer with pearls, chic dresses and capes.

Lagerfeld was a German fashion designer, creative director, artist and photographer.

He was known as the creative director of the French fashion house Chanel, a position held from 1983 until his death in 2019.

Some celebrities have criticised the Lagerfeld theme – calling attention to the many controversies he was involved in.

Lagerfeld frequently offered unsolicited critiques of other public figures like Adele, who he called “too fat,” and Heidi Klum, who he called “too heavy.”

The late designer’s cat did not make an appearance tonight, as some had hoped, but that didn’t stop several of the Met Gala guests adding a feline element to their outfits in the cat’s honour.

Jarred Leto took this a step further, wearing a full cat costume.

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Streaming service shift and the award season snubs

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Netflix Introduces Changes to Subscription Model, Academy Award Nominations Spark Cinematic Buzz, and the Doomsday Clock Continues its Ominous Ticking.

Netflix is set to discontinue its ad-free Basic subscription in select countries, commencing with Canada and the UK in Q2 2024.

This strategic shift introduces a significant price increase for the baseline entry, signalling potential adjustments to Netflix’s global pricing structure.

Simultaneously, the 96th edition of the Academy Award nominations has stirred cinematic debates, with the prevailing question being whether the upcoming season will be dominated by “Barbie” or “Oppenheimer.” These contrasting narratives set the stage for a fierce competition, highlighting the diverse and compelling offerings in this year’s film industry.

Beyond the realm of entertainment, the Doomsday Clock, a symbolic representation of the likelihood of a human-made global catastrophe, continues its ominous countdown.

Maintained since 1947 by the Bulletin of the Atomic Scientists, the clock serves as a metaphor for threats arising from unchecked scientific and technological advances. As global tensions, environmental challenges, and technological risks persist, the ticking of the Doomsday Clock serves as a poignant reminder of the urgent need to address multifaceted threats to humanity.

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Adidas faces potential $320M Yeezy shoe write-off post-Kanye split

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Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.

The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.

The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.

However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.

The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.

Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.

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Warner Bros discovery warns of Hollywood’s ‘real risk’ post-strikes’

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Warner Bros Discovery, has issued a stark warning regarding the ‘real risk’ that Hollywood faces in the aftermath of the recent strikes that have taken a considerable toll on the industry’s financial health.

The strikes, which disrupted film and television production for several weeks, resulted in substantial financial losses for studios, production companies, and countless industry professionals.

Warner Bros Discovery emphasised the necessity for a resilient and adaptable approach to navigate the ongoing challenges and uncertainties facing the film and television sector.

The conglomerate stressed the importance of implementing measures to mitigate such risks in the future, which include fostering better labour relations and contingency planning to safeguard against potential disruptions.

The message underlined the need for the industry to adapt to the evolving landscape of content creation and distribution, particularly in the digital era.

This warning from Warner Bros Discovery highlights the need for the entertainment industry to recognise the ever-changing dynamics and economic challenges, and the importance of preparedness to maintain its prominent position in the global market.

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