Shuffle Board: Poshmark CEO Transitions, Ex-Netflix Vet to Turnaround Funko
Valentino
Italian luxury house Valentino confirmed chief executive officer Jacopo Venturini stepped down earlier this week, SJ's sister publication WWD reported, after reaching a mutual agreement to terminate his employment and board positions, effective Aug. 13. Venturini cited personal reasons for his exit following a five-year tenure—during which Kering bought a 30 percent stake in Valentino from the majority holder, Qatari investment fund Mayhoola—in a cash deal valued at $1.54 billion. Venturini's successor will be announced 'in due course,' Valentino said.
Retail
Poshmark
Resale marketplace Poshmark announced that co-founder Manish Chandra will transition from chief executive officer to a strategic role on the company's board of directors. Namsun Kim, Poshmark's current executive chairman, will be appointed CEO, effective Oct. 1.
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Kim currently serves as president of investments at Naver Corp., Korea's largest internet company, overseeing Naver's global strategic and venture capital investments after a three-year stint as chief financial officer. Last April, Kim joined Poshmark's board as executive chairman to continue 'playing a pivotal role in the company's growth trajectory,' following Naver's acquisition of Poshmark in January 2023.
Funko
Pop culture lifestyle brand Funko has named Josh Simon as chief executive officer, effective Sept. 1, succeeding interim CEO Michael Lunsford and joining the board of directors, effective the same day, as well. Simon previously spent five years as vice president, consumer products of Netflix, where he oversaw live experiences, launched an inaugural e-commerce platform and developed an experiential business division. Before that, Simon held several senior management roles of increasing responsibility at Nike, most recently as vice president and head of global strategy for product, design, merchandising and categories.
Logistics
FedEx
Multinational delivery services firm FedEx has named Vishal Talwar as executive vice president, chief digital and information officer of FedEx Corp. and as president of FedEx Dataworks. As CDIO and president of FedEx Dataworks, Talwar will drive the company's strategic initiatives, focusing on digital solutions using data, AI and other advanced technologies alongside 'comprehensive cybersecurity measures. Talwar brings over 25 years of experience utilizing technology to drive growth and improve operational efficiency. He most recently served as senior managing director and chief growth officer of Accenture Technology, during which time he engaged with FedEx's digital transformation efforts for about two years.
Uber Freight
Uber Freight, a digital freight platform managing about $17 billion of the country's roughly $800 billion freight industry, has named Rebecca Tinucci as CEO. Tinucci succeeds founder and CEO Lior Ron, who will transition to chairman and join Uber-backed physical AI startup Waabi as COO. Tinucci has most recently served as Uber's global head of electrification and sustainability. She previously spent six years at Tesla in various roles, beginning as a senior product manager in March 2018 and ending as senior director of charging infrastructure in August 2022.
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2 Great Dividend Stocks for the Long Haul You'll Likely Wish You Bought 10 Years From Now
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Let's take a look at how each company's dividend stacks up today, consider the underlying business trends that support (or challenge) those payouts, and explore what income-focused investors should keep in mind before committing capital for the long haul. Choosing whether to invest in either of these companies isn't just about their dividend yield today. It's more complex than that. So, let's dig into what makes each of these dividend stocks unique and attractive in their own right. Tractor Supply: steady fundamentals and a sustainable payout Based on its stock price today, Tractor Supply offers investors a dividend yield of about 1.5%, paying $0.92 annually (the quarterly payment currently stands at $0.23). Importantly, the company has a payout ratio of just 44%, leaving plenty of room for the company to pay shareholders quarterly while reinvesting in its operations and repurchasing shares. In addition, a low payout ratio like this enables the rural retailer to maintain these practices while continuing to raise its dividend over time. Indeed, with 16 consecutive years of dividend increases, Tractor Supply has demonstrated a commitment to rewarding shareholders with a growing stream of cash in a disciplined fashion. Another key factor making Tractor Supply look attractive is its loyalty program, Neighbor's Club. The program now has 41 million members. Highlighting its importance, 80% of its sales come from members. This program drives repeat visits and helps the company better target promotions. It's a quiet advantage that supports the company's growth story and ultimately its dividend growth prospects. Tractor Supply's business has been resilient, benefiting from steady demand in rural and suburban markets. Its focus on rural lifestyle products, store expansion, and customer loyalty programs has provided a reliable growth engine. Starbucks: higher yield but more risk Starbucks pays a dividend yield of roughly 2.6% as of this writing. Its quarterly payments total $2.44 annually. While the payout is more generous than Tractor Supply's, there's more risk to it. This is evidenced by the fact that the company's payout ratio currently exceeds 100% of earnings. That means the coffee giant is currently paying more in dividends than it earns, raising questions about the dividend's long-term sustainability at this level unless profits improve. At the moment, the business doesn't look great on the surface. In its most recent quarter, Starbucks reported generally accepted accounting principles (GAAP) earnings per share of $0.49, compared with a quarterly dividend of $0.61. Management has also notably opted not to provide full-year 2025 guidance as it works through plans to revitalize its business. 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I'm a California landlord who bought my first rental property in Greece. It went so well, I'm already looking for more.
Alex Pettas bought property in Athens in 2024 to rent out on Airbnb. He has family in Greece and uses his property as a vacation home when visiting. Long-term renting was an option, but he prefers Airbnb's flexibility. This as-told-to essay is based on conversations with Alex Pettas, 54, an architect and a landlord in California since 1998. In April 2024, Pettas purchased an apartment in Athens, Greece, and has since been renting it out on Airbnb. The conversation has been edited for length and clarity. I'm from the Bay Area, and around 1996 and 1997, as the internet was a brand new thing, I could tell that it was going somewhere. So I felt that it would be a good idea to get a rental property in San Francisco. I approached my dad and suggested a deal in which he puts the deposit down and I do all of the work, and then we split the profits over time. Right now, I have a two-unit in San Francisco and a three-unit in Glendale, California, which is in Los Angeles. The San Francisco building was purchased in 1998, and the Glendale building in 2015. Each one brings in just around $9,000 a month. But even though we have owned property for a while, the barrier to entry is quite high in Los Angeles, with buildings that I might be interested in buying starting at about $1.5 million. So a decision was made to buy in Greece based on multiple things: My family is Greek, so we have a strong interest in it, and the dollar was very strong against the euro. The Greek crisis was ending, but I caught the last little bit of it, so I wanted an apartment in Athens. The dollar was doing great, so it was like everything was 20% off. The crisis had lowered prices, and I felt I could Airbnb it and it would cover itself. It's done far better than that. I could do a long-term rental, but short-term makes more sense Buying property in Greece is not harder, just different. I have Greek family, so I was assisted — and I do speak Greek, so it helped, but it is a complicated thing, more complicated than I'm used to. I gave my cousin power of attorney to purchase the property in my name, so she did some of the signing, which definitely helped. Particularly in Greece, the main issue has been that the land registry — we call it the recorder in America — has been going from paper to digital. At times, the paper can be 100 years old, so there are many issues with the title in Greece. Many people have been buying property for the Golden Visa in the last 10 years. [Ed note: In Greece's Golden Visa program, foreigners are granted a five-year residency visa in exchange for purchasing property in the country.] It's been a huge thing in Greece for foreigners buying properties because the prices were outrageously low. For me, buying was more about a family connection, a nostalgia connection. My father and I had always wanted an apartment in the center of Greece. He passed away a couple of years ago, but I finished the project and bought one. I bought in Athens near the Acropolis for 425,000 euros, or about $456,322 in April 2024, when I closed. In Athens, it's very typical to have an apartment. The one I bought is in a four-unit building. So, a small-scale apartment building, which is so ubiquitous in Athens. The building is from 1950, and it's an 84-square-meter two-bedroom. We started Airbnb-ing in mid-July of 2024. I made a few trips to furnish it — it was, of course, completely empty, needed paint, and some minor stuff. It's been on Airbnb just over a year now, and it's done quite well — better than I expected. The first year, which is not ever going to be the best year, has been as low as 1,300 euros a month. That's net for me after HOA dues, Airbnb manager fees, Airbnb fees, cleaning, et cetera. The highest, so far, was 3,300 euros. I probably could rent it for 1,400 or 1,500 euros a month long term, but I was one of the last people to get an Airbnb license in the historic center of Athens. They immediately suspended them a couple of months after we got our license. The government's trying to slow that down to encourage long-term rentals. Some apartment buildings have HOA laws restricting Airbnb use. Those are probably the tonier apartments in the area. You can no longer Airbnb in the historic center. It has become a housing issue for Greeks, with many properties downtown being used for Airbnb. But you can just make more money on Airbnb. We also want the flexibility of staying there. I just went for two weeks with my daughter. We go as often as we can. It's way easier getting paid in Greece One of the things that's different is I receive money digitally in Greece — that's actually easier than America. The International Bank Account Number (IBAN) that you have in Europe is much easier to convey money back and forth between people. In the States, I use Baselane. I used to use paper checks until someone did a change of address on me, and then that upended everything. In Europe, if they have your IBAN, which is basically your account number, they just send you the money. It's insanely easy. Leases in America, if done well, are much more thorough than in Greece. Our experiences with folks moving out of apartments is much different in America. I also manage two of my mom's units in Greece, and I've been dealing with those on and off for a long time. In Greece, they tend to leave apartments in a poor state. They've painted all the walls funky things, they don't paint things back, they leave trash. I went recently, and both tenants left my mom's two apartments a mess. In America, it's much tougher to do that kind of stuff. I've never had that really happen in 30 years in America. I think there's much more teeth in the leases in America. But I'm personally always looking at Greece, Italy, and Spain for more units — I like those countries. Ten years ago in Greece during the crisis, I would've bought everything I could lay my hands on. The return on investment that I've achieved on a 425,000-euro apartment has been great. Now, I'm a really picky buyer. I was really careful, and not everyone's going to have that same success. I went many times. I was very thorough in my selection of places, but having five units in America, I did want to diversify, and it gives me an excuse to travel to places that I like. If I could get a rental property in Italy, it is just a reason to keep going with my family. So I'm mixing business with pleasure in a way. Athens has been amazing. No one ever used to want to stay in Athens, now it's a year-round destination, and I did well in January, even. So for me, in that particular situation, I would've done it over and over if I could have. Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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42 minutes ago
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Gen Z was growing obsessed with luxury watches. New tariffs on Switzerland could cool the expensive hobby
Gen Z has become one of the largest consumer bases for luxury Swiss-made watches. Now the Trump administration's 39% tariff on Switzerland may change price-sensitive consumer behavior. But experts tell Fortune top watchmakers like Rolex and Patek Philippe may not see much of a demand shift as young luxury watch buyers crave the social currency that comes with the brands. Gen Z's fascination with luxury watches has been one of the more surprising consumer trends of the last few years. But a steep tariff hike on Switzerland could threaten its market: American youth. Gen Z—alongside younger millennials—have embraced luxury timepieces as status symbols, posting them on TikTok and Instagram and helping reshape an industry long dominated by older collectors. A recent BCG survey found 54% of Gen Z respondents had increased their spending on luxury watches since 2021, and Sotheby's estimated nearly a third of its watch sales in 2023 went to buyers 30 and under. But a new 39% U.S. tariff on Switzerland could make this hobby more expensive, and potentially less attainable for first-time buyers. The duty, imposed during President Donald Trump's latest round of tariffs, hits the world's most important market for Swiss watch exports. From January to June, the U.S. overtook Japan and China as the top destination, with $3.17 billion ( 2.56 billion Swiss Francs) worth shipped, according to the Federation of the Swiss Watch Industry. 'Companies cannot realistically absorb the tariff, which means retail prices in the U.S. will rise sharply,' Marcus Altenburg, managing partner at Swiss law firm Goldblum & Partners, told Fortune. For American buyers, especially younger ones, the math is straightforward: prices are going up, Anish Bhatt, a millennial 'watchfluencer' with 1.6 million followers on Instagram told Fortune. While the 39% levy applies to an importer's cost, not full retail, industry analysts predict a 12%-14% increase in store prices if brands pass on the cost to consumers. 'For many American collectors, the 39% tariff instantly turned new releases from Swiss brands into a luxury few can justify,' Joshua Ganjei, CEO of European Watch Company in Boston, told Fortune. 'The pre‑owned market is now the best option for value and immediate availability—no import headaches and no sticker shock.' That shift to secondhand is already underway, since availability in the primary market is so limited, Bhatt said. Still, a 2024 report by Watchfinder & Co. found 41% of Gen Z aged 16 to 26 came into possession of a luxury watch the previous year—and individuals in this age bracket who are ready to buy a luxury timepiece said $10,870 would be the starting point for their next purchase. The same report found that Gen Z watch enthusiasts acquired an average of 2.4 first-hand watches and 1.43 pre-owned in 2023, with over half buying for themselves. Altenburg expects Gen Z and millennial buyers, who tend to be more price‑sensitive than older collectors, to gravitate to domestic pre‑owned and grey‑market sellers to sidestep tariffs. Ganjei said his company has 'seen a dramatic increase in purchasing volume over the past few months as U.S. buyers shy away from international sellers.' On the other hand, watchfluencer Bhatt said younger consumers still crave the 'social currency' that comes with a Rolex, Patek Philippe, or Audemars Piguet, even if they pay more to get it. 'They also understand the status that it gives them,' Bhatt said. The social cachet of a Swiss-made watch plays out daily on social media platforms like TikTok, Instagram, and influencer channels, boosting aspirational demand, he said. Bhatt doesn't expect demand for the most coveted brands to vanish, but says mid‑tier Swiss names without top brand prestige could see sales slow. The added cost may also push Americans to buy while traveling in Europe—where they can sometimes reclaim value added tax (VAT)—and bring pieces back themselves, potentially avoiding tariffs altogether, Bhatt said. 'It could be that allocation of pieces is shifted toward other territories over time,' he added, 'because they see demand increase in Europe or the Middle East and diminish a bit in the U.S.' For the Swiss industry, the stakes go beyond sticker prices. Altenburg warned that sustained U.S. weakness could pressure employment and supply chains in watchmaking regions, while forcing brands to rethink distribution, pricing, and even corporate structures to blunt the tariff's impact. Bhatt thinks marketing to younger generations will also matter more in a cooling market. 'When the market's high, they rely just on brand value and brand name,' he said. 'When the market is low, they need people to understand the rarity and complexity and difficulty in producing these rare watches.' All said, the tariff probably won't kill Gen Z's fascination with luxury watches—but it could redraw the roadmap for how and where they buy them. The social media posts of vintage Daytonas and Nautiluses are unlikely to disappear. What may change is that, for many young Americans, the product may increasingly be secondhand, and possibly stamped by a boutique in Paris or Milan. This story was originally featured on Sign in to access your portfolio
