The Bloomberg Businessweek – Day 5
May 21, 2021
In a first-of-its-kind event experience, we bring the magazine to life. Over the course of five days, the Bloomberg Businessweek will explore the HOW TO’s of technology, culture, creativity, entertainment, global affairs, health care and science.
We concluded the event on Friday with a focus on luxury, highlighting areas of our Bloomberg Pursuits coverage. From trends in beauty and luxury real estate to demand for beer and premium tequila, we discuss how brands are seeing a surge in demand as the economy reopens. We also discussed the efforts to boost spending with Black-owned media companies.
Click here to view video of today’s event.
- Byron Allen, Founder, Chairman & CEO, Allen Media Group
- Carlos Brito, CEO, Anheuser-Busch InBev
- Deepak Chopra, MD, Founder, The Chopra Foundation and Chopra Global
- Nick Jonas, Co-Founder, Villa One Tequila
- Miki Naftali, Chairman & CEO, Naftali Group
- Donna Olshan, President, Olshan Realty Inc.
- Peter Pennoyer, Founding Partner, Peter Pennoyer Architects
- John Varvatos, Co-Founder, Villa One Tequila
- Emily Weiss, Founder & CEO, Glossier
The Bloomberg team included:
- Shartia Brantley, Deputy New York Bureau Chief; Senior Editor, Bloomberg Live
- Emily Chang, Anchor, Bloomberg Television
- Jason Kelly, Chief Correspondent, QuickTake, Bloomberg
- Carol Massar, Anchor, Bloomberg Businessweek TV and Radio
- Claire Suddath, Senior Writer, Bloomberg
- James Tarmy, Arts Columnist, Bloomberg News
- Joel Weber, Editor, Bloomberg Businessweek
Emily Weiss, Founder & CEO, Glossier and Emily Chang, Anchor, Bloomberg Television opened the day with a conversation on the beauty industry during the pandemic. Weiss discussed how the industry evolved over the past year and the role of social media such as TikTok. “Skincare was huge. Last year was really a year in beauty for skin.” Despite the rise in e-commerce during the pandemic, consumers still want an omnichannel shopping experience, she said. She added their store design addresses needs for the new generation. “We have taken a very Apple-like approach to helping people remove the barriers of confusion when it comes to beauty shopping.”
In conversation with Jason Kelly, Chief Correspondent, QuickTake, Bloomberg, Carlos Brito, CEO, Anheuser-Busch InBev discussed trends in hospitality and retail. Demand for their products are nearing pre-pandemic levels. Consumers’ palettes desire beverages not consumed at home over the past year. “In Europe what we see in a traditional pub, consumers are doing much more pints. Draft beer over bottles as compared to before,” Brito said.
As he prepares to retire in June after 32 years with the company, he is proud of the talent in place. “In order to have big dreams and deliver you need to have very talented people that behave as owners,” he said.
Our stress has reached new levels during the pandemic. Deepak Chopra, MD, Founder, The Chopra Foundation and Chopra Global spoke with Claire Suddath, Senior Writer, Bloomberg, and offered this advice when feeling stressed. “Observe what is happening in your body, pause for a second, take three deep breaths and proceed with awareness and compassion. S – Stop, T-Take three deep breaths, O – Observe and P – Proceed,” he urged. He also provided tips on meditating: “Sit quietly, close your eyes, and don’t do anything for 5, 10 minutes. Your mind will get silent.”
Byron Allen, Founder, Chairman & CEO, Allen Media Group discussed his recent $10 billion racial discrimination lawsuit against McDonald’s Corporation with Shartia Brantley, Deputy New York Bureau Chief; Senior Editor, Bloomberg Live. The media mogul said that McDonald’s advertising spend with Black-owned media companies is not proportionate to their presence in the Black community and sales with Black consumers. “They bring in over $100 billion in revenue – a lot of that coming from African American consumers. But out of their $1 billion advertising budget less than $5 million is going to Black-owned media.”
He spoke passionately about economic inclusion and how transparency is critical to closing the trade gap between Black America and White corporate America. “When we are able to show the books, the contracts. Show how much you are spending and how little you are spending with Black-owned media, it says it all. The numbers don’t lie,” Allen warned.
In today’s How To session, Villa One Tequila Co-Founders Nick Jonas and John Varvatos showed Carol Massar, Anchor, Bloomberg Businessweek TV and Radio how to make a Bloody Maria and they talked about why they joined forces to launch a premium tequila brand. With a crowded tequila market, the co-founders sought ways to differentiate themselves from other brands in the distilling process. “We combined the lowland agave which gives it a very unique combination of the earthier notes from the lowland and sweeter notes from the highland,” Jonas explained.
And you can not make a drink without giving a toast. “Better times are ahead, but let’s support the others that aren’t in the same place we are right now,” Varvatos said.
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