Diane von Furstenberg Will Sell a Purse that Charges Your Phone
Fashion mogul Diane von Furstenberg said she will launch a high-tech purse that automatically—and cordlessly—charges smartphones.
The purse, which does not yet have a price tag, will go on sale in limited edition this holiday season, before rolling out broadly next year. The designer is working with an undisclosed technology partner on the handbag.
"My role in fashion is really solution driven," von Furstenberg said. "I'm always on the go, so [it's important] you have everything at the right time."
The idea of creating a handbag that charges a smartphone isn't entirely new. Kate Spade recently announced that it will launch a similar product line this fall.
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Von Furstenberg, a regular in Sun Valley, Idaho, took the stage at this year's Allen & Co. conference for a panel on the future of fashion, along with Spanx founder Sara Blakely.
She's there to meet with technology companies as she works to bring fashion into the future.
"Technology is the biggest revolution," von Furstenberg said. "It's such a big part of our lives, we do everything with technology, so it's not even separate anymore. It just is."
Related: 10 Biggest Tech Flops of the Century
Though she doesn't wear an Apple Watch, the designer said she's also interested in wearable technology. At her New York Fashion Week show in September 2012, she sent models down the runway wearing Google Glass.
But von Furstenberg cautions the term "wearable tech" will soon become obsolete.
"Wearable technology won't even be a word anymore, because everything you do will have technology," she said.
Von Furstenberg added that technology isn't just important for the future of fashion products—it's already crucial to their marketing.
"If you're interested in millennials, everyone is on social media and everyone is a brand," she said. "It's very interesting to brands to see how they can work with a generation, who each of them is [their own] brand."
This article originally appeared on CNBC.
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Warren’s Taxes Could Add Up to More Than 100%
The Wall Street Journal’s Richard Rubin says Elizabeth Warren’s proposed taxes could claim more than 100% of income for some wealthy investors. Here’s an example Rubin discussed Friday:
“Consider a billionaire with a $1,000 investment who earns a 6% return, or $60, received as a capital gain, dividend or interest. If all of Ms. Warren’s taxes are implemented, he could owe 58.2% of that, or $35 in federal tax. Plus, his entire investment would incur a 6% wealth tax, i.e., at least $60. The result: taxes as high as $95 on income of $60 for a combined tax rate of 158%.”
In Rubin’s back-of-the-envelope analysis, an investor worth $2 billion would need to achieve a return of more than 10% in order to see any net gain after taxes. Rubin notes that actual tax bills would likely vary considerably depending on things like location, rates of return, and as-yet-undefined policy details. But tax rates exceeding 100% would not be unusual, especially for billionaires.
Biden Proposes $1.3 Trillion Infrastructure Plan
Joe Biden on Thursday put out a $1.3 trillion infrastructure proposal. The 10-year “Plan to Invest in Middle Class Competitiveness” calls for investments to revitalize the nation’s roads, highways and bridges, speed the adoption of electric vehicles, launch a “second great railroad revolution” and make U.S. airports the best in the world.
“The infrastructure plan Joe Biden released Thursday morning is heavy on high-speed rail, transit, biking and other items that Barack Obama championed during his presidency — along with a complete lack of specifics on how he plans to pay for it all,” Politico’s Tanya Snyder wrote. Biden’s campaign site says that every cent of the $1.3 trillion would be paid for by reversing the 2017 corporate tax cuts, closing tax loopholes, cracking down on tax evasion and ending fossil-fuel subsidies.
Read more about Biden’s plan at Politico.
Number of the Day: 18 Million
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Chart of the Day: Dem Candidates Face Their Own Tax Plans
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