- #fashion. GAP recoupled with Old Navy
After 2 days announcing the separation, GAP took it back. Why? The break-up of supply chain is too expensive and too complicated. Another reason is, the strongest proponent of this decision, former CEO Art Peck left the company last November.
Tesla is on its road to steady profitability and the primary catalysts are the increase of production capacity and geographical diversification. Elon Musk will open a new Gigafactory in China, the country with the highest EV sales last year. This action will also reduce the impact of the trade world on the price of Tesla cars, making it more affordable for local people. Besides, the company announced that it will set up a new factory in Germany in 2021. The new one will increase Tesla production in this country, taking advantage of new EV subsidies from the government.
- #Hotel The world’s largest budget hotel chain: Oyo scaled back because of its investor, SoftBank (NYtimes)
Oyo’s losses mounted, and SoftBank demanded the company must be profitable, in EBITDA till the middle of 2020, which led to the company’s earliest action. Oyo has pulled out of a dozen cities (even a quarter of it in India), cut thousands of hotel rooms, slashing jobs to curb operating expenses as much as possible. This step contributes the heat to the steaming situation of SoftBank-backed start-ups (read more in my previous article)
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