• Ryanair's CEO slammed multiple parties during an earnings call on Monday.
• Michael O'Leary called a Spanish minister a "lunatic" over the country's stance on baggage fees.
• He also said some of Ukraine's airport directors were "very lazy."

Ryanair's CEO, Michael O'Leary, slammed several parties during the company's earnings call on Monday.

O'Leary first criticized the Spanish government for its stance on baggage fees.

"We have this lunatic Spanish minister running around trying to force all airlines to take unlimited bags on board free of charge," O'Leary said

O'Leary did not specify who the "lunatic Spanish minister" was. He has repeatedly criticized Spain's consumer rights minister, Pablo Bustinduy. In February, O'Leary brought out a life-sized cutout of Bustinduy in clown garb, with a red clown nose pasted on the minister's face.

In November, Bustinduy's Ministry of Consumer Affairs fined five budget airlines, including Ryanair, a combined 179 million euros, or about $187 million. The ministry said the airlines were conducting "abusive practices" like charging extra carry-on luggage fees.

In a statement relayed through his ministry, Bustinduy told Business Insider that the comments O'Leary made on Monday did not offend him.

"My obligation is to defend consumer rights. No campaign of insults or defamation will distract me from that objective," he said.

Later in the call, O'Leary slammed airport directors in Ukraine when asked whether Ryanair saw an opportunity in the Ukrainian market.

O'Leary said he was disappointed that Ukraine's airports have refused to engage with Ryanair in a "postwar marketplace," and have not offered airlines discounts to return. The war in Ukraine is ongoing.

"And there's a couple of very lazy airport directors in Ukraine, who need to get them off their fat arses and do a deal with us quickly if they want real radical growth and real radical economic rebuilding and development in Ukraine," he added.

On Monday, Ryanair reported yearly revenue of 13.95 billion euros, 4% higher than the previous year. It also reported profits of 1.61 billion euros, a 16% decline from the previous year.

Representatives for Ryanair and Ukraine's Ministry of Infrastructure did not respond to requests for comment from BI.

May 20, 4:01 a.m. — This story was updated to reflect comments from Spain's Ministry of Consumer Affairs.

• Birkenstock is raising the prices of its shoes to mitigate the effect of Trump's tariffs.
• Its finance chief said the company will implement a "low single-digit price increase globally."
• The company said hikes will be rolled out globally, not just in the US.

Birkenstock will be increasing the prices of its shoes globally to offset President Donald Trump's tariffs.

Representatives for the German footwear brand talked about price hikes in its latest earnings call on Thursday.

The company's finance chief, Ivica Krolo, said Birkenstock will need a "low single-digit price increase globally" for a "full offset of tariff impact."

She said the brand is less exposed to tariff impact "with 100% of our production and 96% of our materials sourced from Europe and no contract manufacturing from Asia."

Per Trump's announcement on April 2, 10% tariffs would be applied to goods from all countries entering the US. Goods from the European Union would be subjected to an additional 10% "reciprocal" tariff.

But on April 9, Trump announced a 90-day pause on the additional tariffs to allow room for trade negotiations.

Krolo said tariffs in the US would not change Birkenstock's global pricing structure. Its popular models, like the Arizona and Boston, are priced at around $150.

"We will be fully offsetting the effects from current existing tariffs," Krolo told Reuters in an interview. "We're not raising in one region only, we see it as a global exercise."

In addition to raising prices, the brand is also offsetting the impact of tariffs by making its production more efficient and negotiating with vendors, Krolo said in the earnings call.

In response to BI's query about how much the cost of the shoes would increase, when the hikes would be implemented, or which models would see hikes, a representative for Birkenstock said he could not provide further details.

Birkenstock posted a 19% increase its its latest quarterly revenue compared to the year before, reporting sales of 574.3 million euros, or $643.2 million.

The Americas accounted for a majority of Birkenstock's sales last quarter, with 312.5 million euros.

Its second largest market was Europe, the Middle East, and Africa, where it earned 212.8 million euros in sales. Finally, 47.8 million euros came from the Asia Pacific region.

May 16, 5.27 a.m. — This story has been updated to reflect comments from a Birkenstock representative.

• Some Starbucks workers are not happy about the new dress code.
• The Starbucks Workers United union launched strikes this week, protesting the new mandate.
• Starbucks made it compulsory for baristas to wear black tops and blue, black, or khaki bottoms.

Some Starbucks workers in the chain's largest union are objecting to the company's new dress code for baristas.

Starbucks Workers United said in a post on Tuesday that baristas around the US are protesting the chain's implementation of a standard dress code this week.

The union, which did not respond to a request for comment from Business Insider, told Bloomberg that walkouts have occurred at more than 50 stores. The union's website says that it represents more than 11,000 workers and more than 570 stores nationwide.

As of March 30, Starbucks had more than 17,000 stores in the US. The company did not respond to a request for comment from BI.

On April 14, Starbucks announced a standard dress code that all baristas must adhere to — a solid-color black shirt, paired with bottoms that are black, blue denim, or khaki.

The dress code, which went into effect on Monday, is meant to "allow our iconic green apron to shine and create a sense of familiarity for our customers," the company wrote in the announcement.

Starbucks would provide each barista two free shirts as part of the change, it said.

But three baristas BI spoke with said two shirts were not enough for those who work multiple shifts in a week, so they would have to buy clothing.

The workers' union also said Starbucks should focus on correcting operational problems like understaffing rather than enforcing a dress code.

Starbucks used to have a strict black and white dress code, which it relaxed in 2016 when it allowed baristas to wear shirts of different colors, paired with dark-wash jeans.

The new dress code comes as Starbucks struggles to pull itself out of the red, reporting five consecutive quarters of revenue declines.

CEO Brian Niccol has set up a game plan, which he dubbed "Back to Starbucks," to boost sales, attract customers to the cafés, and fix problems like long wait times.

This includes implementing a new mobile ordering system, slimming down the menu, and personalizing coffee cups with handwritten memos from baristas.

• Samsung is enlisting some star power to promote its new phone.
• Its latest ambassador is Felix Lee, a runway staple and one of KPop's biggest names.
• Samsung released the Galaxy S25 Edge on Monday, a 5.8 millimeters-thick phone priced at $1,099.

Samsung is bringing out the big guns to promote the launch of its slimmest phone to date.

The South Korean electronics company released the latest Galaxy S25 Edge on Monday — a $1,099 phone that is 5.8 millimeters thick and weighs 163 grams.

Samsung tapped Felix Lee, one of K-pop's biggest faces of the moment, to promote the phone.

Lee, an Australian-born singer from the South Korean boy band Stray Kids, made a joint Instagram post with Samsung Korea on Tuesday. The cinematic video shows Lee dressed in a black suit, his trademark blond hair slicked back.

Samsung's new phone is set to kick off a new era of skinny phones, with the iPhone 17 "Air" rumored to drop later this year. The Galaxy S25 Edge — advertised with the slogan "Beyond Slim" — is set to go on sale in the US on May 30. It has a 200-megapixel, wide-angle camera and is integrated with Samsung's AI suite, Galaxy AI.

Lee's fan base was quick to express excitement about the partnership. Reactions to the post included the comment "Who's getting this phone bcuz of Felix?" — which had been liked more than 1,500 times at press time.

Samsung first teased the partnership last week with a post showing the silhouette of Lee's face. It asked people to guess who the person might be and promised Starbucks gift cards to 25 people who guessed correctly.

The Samsung partnership comes in an exciting year for Lee, who walked the runway for Louis Vuitton's Fall-Winter 2025 show in Paris in March.

Lee was named the house's ambassador in 2023 and has become a personal muse of LV's artistic director, Nicolas Ghesquière.

Lee said in interviews with Vogue that Ghesquière personally invited him to walk the LV Fall-Winter 2024 show in Paris. Before the March show, the designer said it was a "big honor" to have Lee there.

This is not the first time Samsung has tapped K-pop talent to promote its products. In 2020, the brand released a special BTS Galaxy phone in collaboration with the Grammy-nominated band, and has featured members of the group in its ads too.

And in 2019, Samsung also released limited-edition black and pink products in collaboration with K-Pop girl group Blackpink.

Representatives for Samsung and Lee did not respond to requests for comment from Business Insider.

• Coach's bet on bag charms is paying off.
• The CEO of Coach's parent, Tapestry, said the brand's bag charms and straps contributed to its success.
• She said Coach's $95 Cherry Bag Charm was a "Gen Z favourite."

Coach is known for its handbags, but its little dangly keychains and trinkets are boosting its business, too.

The CEO of Coach's parent company, Tapestry, Joanne Crevoiserat, spoke in an earnings call on Thursday about the success of bag charms.

"Our bag charms and straps added to our success, providing consumers with further opportunities for self-expression, with the 'Cherry Bag Charm' remaining a Gen Z favorite," Crevoiserat said to investors.

Bag charms vary largely in size and form, from miniature stuffed toys and toy figurines to beaded chains. Style experts BI previously spoke with said charms function as a way to express the wearer's identity and personality.

Coach has a wide selection of charms, ranging from $20 for a simple bow charm to $195 for the spider bag charm. It also sells a collection of metallic chains that can be hooked onto bag straps.

The Cherry Bag Charm, which Crevoiserat called a "Gen Z favorite," retails on Coach's website for $95.

Crevoiserat's comments come as retail brands have been betting big on bag charms to win the support of younger customers. Brands from KFC to Balenciaga have released bag charms — either in the form of limited edition drops or permanent collections.

Crevoiserat said nearly 70% of Coach's 900,000 new customers in North America were Gen Z and millennials.

Representatives for Tapestry did not respond to a query from Business Insider on the amount of sales the bag charms brought in in the latest quarter.

Tapestry reported a 7% revenue increase in its latest quarter earnings compared to the year before, with $1.58 billion in sales.

Coach, in particular, saw a 13% year-on-year growth, with sales of more than $1.29 billion. The brand has 324 stores in the US and 599 internationally.

• While several K-pop stars attended the 2025 Met Gala, one came ready to serve some national pride.
• S.Coups, the leader of the boy band Seventeen, made his Met Gala debut in a Korean hanbok-inspired outfit.
• This comes a K-pop and Asian stars are having a moment in fashion on a global stage.

Several K-pop celebrities walked the red carpet at the 2025 Met Gala on Monday, but one came ready to serve up some national South Korean pride.

S.Coups, the 29-year-old leader of the boy band Seventeen, made his Met Gala debut in a gray Hugo Boss ensemble that looked like a modern take on a traditional Korean hanbok.

The outfit included a tailored jacket, flowy pleated pants, and a floor-length cape.

This year's Met Gala theme was "Superfine: Tailoring Black Style," and the dress code was "Tailored for You."

"Elegance. Innovation. Heritage. S.COUPS steals the spotlight at the Met in a custom BOSS creation that echoes a Korean hanbok jeogori jacket, paired with a stunning, floor-length coat," Hugo Boss wrote in an Instagram post on Monday.

The German fashion label announced on April 21 that the star, whose real name is Choi Seung-cheol, was its new global brand ambassador.

Choi went light on accessories, opting for a little bling with a diamond-encrusted Piaget watch.

"It felt like the perfect fusion of traditional Korean tailoring with elements of Black fashion and dandyism," said Zoë Hennessey, and LA-based fashion stylist.

"The oversized suit fits the theme, especially the pleated wide-leg pants. It brought a sense of volume and movement that felt fresh and expressive," she added.

Edith Chan, a Madrid-based stylist, said Choi's outfit fit the theme well, and "blends Asian history with modern style."

"When ethnic styles are done right, they can really elevate the conversation about inclusivity, diversity, and global traditions," Chan said.

Other K-pop stars who attended the Met Gala on Monday included Blackpink's Lisa, Jennie, and Rosé. Their outfits did not appear to contain Korean-inspired elements.

Rosé wore a black suit with a plunging neckline from Saint Laurent, paired with jewelry from Tiffany & Co.

Lisa sported a lacy bodysuit by Louis Vuitton, and Jennie wore a black tuxedo dress by Chanel.

Other Asian stars did bring some of their culture to the carpet, including Indian musician Diljit Dosanjh.

Dosanjh wore a regal South Asian-inspired outfit designed by Nepalese-American designer Prabal Gurung, complete with a turban and a sword.

K-pop is having a moment in high fashion

Choi's debut at the Met Gala comes as K-pop stars have become major draws for Western luxury brands.

Felix Lee, a singer from the band Stray Kids, walked the runway for Louis Vuitton's March Fall-Winter 2025 show in Paris.

Lisa from Blackpink, who was previously the face of Celine, joined LV as a brand ambassador in July.

And back in 2021, LV tapped BTS as house ambassadors.

"K-pop stars have been fashion trendsetters for several years, in my opinion, especially as the genre's global popularity has grown, but we are seeing more and more K-pop celebrities in Western media overall. Their style has always been daring, fashion forward, and consistently strong," Hennessey said.

Choi's Met Gala appearance comes shortly before the release of their fifth studio album, "HAPPY BURSTDAY," which is set to drop on May 26.

Representatives for Choi and Hugo Boss did not respond to requests for comment from Business Insider.

• Mattel said it may have to adjust toy prices because of President Donald Trump's tariffs on China.
• Trump hit China with a 145% tariff. The US imports nearly 80% of its toys from China.
• Mattel's CEO said he expects 40% to 50% of their products to be priced at $20 or less.

Mattel's iconic Barbies may be getting more expensive.

The California-based toy manufacturer said it may have to adjust its prices in the US to offset President Donald Trump's tariffs.

Mattel's CEO, Ynon Kreiz, said in a Monday earnings call with investors that the company was taking a three-pronged approach to offset the impact of Trump's tariffs.

"Accelerating diversification of our supply chain and further reducing reliance on China-sourced products, optimizing product sourcing and product mix, and where necessary, taking pricing action in our US business," Kreiz said.

Kreiz added that China, which Trump has hit with a 145% tariff, "continues to be an important sourcing country" for Mattel. However, the company is increasingly shifting its production to other countries, he added. Kreiz said that even with pricing adjustments, he expects the products to stay affordable.

"Under the current scenarios we are considering, we expect that 40% to 50% of our product will be priced at $20 or less," he said.

At press time, Barbie dolls listed on Target ranged from $6.99 to $174.99 in the US. The expensive dolls come with more accessories.

Last week, Trump was asked if his tariffs would result in empty store shelves. The US imports nearly 80% of its toys from China, per data from the Toy Association, a trade association for the US toy industry.

"Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls would cost a couple of bucks more than they would normally," Trump told reporters at the White House.

Trump repeated his opinion during an interview with NBC News' "Meet the Press," which aired Sunday.

"I'm just saying they don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five," Trump said.

"We don't have to waste money on a trade deficit with China for things we don't need, for junk that we don't need," Trump added.

In the same interview with NBC News, Trump said he would eventually try to resolve trade tensions with China.

"At some point, I'm going to lower them because otherwise, you could never do business with them. And they want to do business very much," Trump said.

Representatives for Mattel did not respond to a request for comment from Business Insider.

• The 2025 Met Gala took place in New York City on Monday.
• Billionaires pulled up to the year's biggest fashion event in tailored, monochrome outfits.
• Here are our picks for the best — and worst — billionaire outfits this year.

The Met Gala, arguably the biggest fashion event of the year, took place on Monday, and its A-list guests came dressed to impress.

Several billionaires attended the annual fundraiser event at the Metropolitan Museum of Art in New York City.

This year's theme was "Superfine: Tailoring Black Style," and the dress code was "Tailored for You."

In a sea of menswear-inspired outfits, some attendees stood out for the right — and wrong — reasons.

Here are the outfits we thought nailed the theme, and those that missed the mark.

Best: Grace Murdoch and Wendi Murdoch

Wendi Murdoch, entrepreneur and ex-wife of media mogul Rupert Murdoch, dazzled at the Met Gala with her daughter, Grace. They both wore fitted white ensembles.

Wendi's two-piece set featured gold embroidery and a high collar reminiscent of a Chinese Qipao. She completed the look with white lace-up boots, a white bag, and a gold headpiece.

Grace's look was simpler — a tight-fitted blazer-top, a pleated skirt, a feather brooch, and a white handbag.

Worst: Gustav Wizoe

Norwegian billionaire Gustav Witzoe arrived in an all-white ensemble and a clear briefcase that appeared to be filled with rose petals.

The sheer blazer-cape hybrid trailed behind him, and his look was topped off with accessories, including a white cowboy hat, boots, and gold jewelry.

The outfit looked a tad more whimsical than we would have liked.

Best and worst: Mo Pritzker (best) and John A. Pritzker (worst)

Billionaire investor John A. Pritzker and his wife, Mo Pritzker, arrived in matching full-black outfits.

John Pritzker's ultra-simple black tuxedo and tie combination seemed out of place at the fashion-forward Met.

He was also thoroughly overshadowed by Mo Pritzker, who wore a long, bedazzled blazer paired with a flared black tulle skirt.

Best and Worst: Mellody Hobson (best), George Lucas (worst)

Filmmaker and philanthropist billionaire George Lucas and Mellody Hobson, chairman of Starbucks' board of directors, came to the gala in vastly different suits.

Hobson's gray tweed suit sparkled as she walked, and she was blinged out with bejeweled brooches and chains.

Her husband, however, kept it as simple as possible in a no-frills navy-blue suit, which would look more at home on Wall Street than at the Met.

Worst: Kim Kardashian

Businesswoman and media personality Kim Kardashian stuck to her wardrobe of tight-fitting pieces. She also kept to her usual corseted silhouette, which she has sported at almost every Met Gala of late.

She wore a leather-textured two-piece set. The top had a low-cut sweetheart neckline and a corset shape, and featured an open back secured with a belt clasp.

She accessorized with diamond necklaces, earrings, chains, and rings, and sported a black top hat.

The outfit fit the theme, but felt unimaginative.

Worst: Tory Burch

Billionaire designer Tory Burch wore a simple white maxi dress to this year's gala. She layered it with black beaded chains, which gave the outfit a spiderweb-esque look.

She kept the rest of the outfit simple with a black and white handbag and diamond earrings.

The outfit did not lean into the "tailored" theme too heavily.

Worst: Anthony Pratt

Australian billionaire businessman Anthony Pratt was a sight to behold, standing out from the mass of black and white-clad crowd in his funky bright green suit.

The suit had the reuse-reduce-recycling logo stamped all over it. He accessorized it with a dark green bowler hat and a walking cane.

Our biggest qualm was the running shoes he wore under the suit.

• Trump said Jeff Bezos "immediately" agreed to remove the price of tariffs from Amazon product listings.
• He said he called Bezos up to talk about the issue, adding that Bezos was a "very nice guy."
• The White House last week called Amazon's plan to display tariff charges "hostile and political."

President Donald Trump said he called Amazon's founder, Jeff Bezos, who immediately agreed not to display tariff costs next to product prices after they spoke.

In an interview with NBC News' Meet the Press, which aired Sunday, host Kristen Welker asked the president about his call with Bezos.

This was shortly after media outlet Punchbowl News said in a Tuesday report that Amazon would soon start displaying tariff charges beside the product's price, a claim Amazon denied.

"He's just a very nice guy, we have a relationship. I asked him about it," Trump told Welker. "He said, 'Well, I don't want to do that,' and he took it off immediately."

Amazon and a representative for Bezos didn't immediately respond to requests for comment from BI about Trump's call with Bezos. In a statement last week, Amazon said one of its teams considered listing import charges on certain products, but that idea hadn't been approved and wasn't going to happen.

Welker asked if Trump would "take that same tactic with other CEOs."

"I'll always call people if I disagree with them," Trump replied.

Welker also asked Trump if he was punishing CEOs who passed tariff costs to consumers.

He said, "I want them to build plants in the United States. That way, they don't have any tariffs."

The White House slammed the retailer on Tuesday over the reported plan to display tariff charges. In a press conference, the White House's press secretary, Karoline Leavitt, called it a "hostile and political act."

In the first 100 days of Trump's second term, some of the richest people in the US have taken massive hits to their net worths.

Bezos's net worth has plunged by over $30 billion since January. On January 20, it was $245 billion, but as of May 5, according to the Bloomberg Billionaires Index, it had dropped to $212 billion.

This comes as the e-commerce giant is reeling from the impact of the tariffs.

Trump imposed a baseline 10% tariff on imports from all countries except China. His tariff rate for China now stands at 145%.

On Thursday, Amazon reported that it had taken a $1 billion hit in one-time charges in its latest quarter, linked to tariffs and customer returns.

Since Trump's tariffs have gone into effect, there have also been price hikes on some of its most popular items, including home appliances, snacks, and clothing.

Despite criticism of his tariff policies, Trump has held fast. In a Truth Social post on Easter, the president said businesspeople who have criticized his tariffs are bad at both business and politics.

"THEY DON'T UNDERSTAND OR REALIZE THAT I AM THE GREATEST FRIEND THAT AMERICAN CAPITALISM HAS EVER HAD!" Trump wrote.

Representatives for Trump did not respond to a request for comment from Business Insider.

• Trump said he would impose a 100% tariff on movies made outside the US.
• He said Hollywood was "dying a very fast death" because productions were shifting out of the country.
• This comes as the film industry has struggled with fallout from strikes and wildfires.

President Donald Trump plans to impose a 100% tariff on movies made outside the US.

In a Sunday post on Truth Social, the president said other countries are offering US filmmakers and studios incentives to draw them out of the country. He called this a "national security threat" and proposed his tariffs as a way to stop Hollywood from "dying a very fast death."

"Therefore, I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands," he wrote in the post.

He added, "WE WANT MOVIES MADE IN AMERICA, AGAIN!"

The US's commerce secretary, Howard Lutnick, reposted Trump's comments on X on Sunday with the caption: "We're on it."

Trump did not specify how the tariff would be implemented or when it would go into effect. White House representatives did not respond to a request for comment from Business Insider.

Trump's comments come as Hollywood grappled with numerous challenges from strikes to wildfires.

According to Film LA data, the number of film productions in Greater Los Angeles in the first quarter of the year dropped 22% compared to last year.

The report said the decline was partly due to the devastating wildfires that ravaged LA in January, which affected about 550 unique filming locations in the city.

The domestic film industry was also affected by monthslong strikes in 2023, during which writers and actors demanded increases in wages and benefits and protested the use of AI in filmmaking.

A July report by tracking company ProdPro said the number of productions being shot in the US was down 37% in the first half of 2024 compared to the same period in 2022.

In October, California's governor, Gavin Newsom, announced a proposal to increase California's Film & Television Tax Credit Program from $330 million to $750 million yearly.

This proposal aims to incentivize production houses to keep their work in California instead of moving elsewhere.

Besides the movie industry, Trump has imposed a baseline 10% tariff on imports from all countries except China. His tariff rate for China now stands at 145%.

• Singaporean businessman Eric Saw bought a century-old ship in 2010 with big hopes for it.
• Over the next nine years, he struggled to find a place to berth it.
• Now, the ship has been transformed into a beachfront hotel on its own reclaimed island in Indonesia.

This as-told-to essay is based on a conversation with Eric Saw, the 73-year-old founder of Doulos Phos The Ship Hotel, in Bintan, Indonesia. It has been edited for length and clarity.

I used to bring my children aboard the MV Doulos, a 430-foot-long ship belonging to a Christian missionary, when it would dock on Singapore's shores. It had spent 33 years as a floating library sailing around the world.

Never in my wildest dreams did I ever think that one day we would become owners of this vessel, or that I would convert it into a hotel on the shores of Indonesia.

In 2010, I bought the MV Doulos, which had earned the Guinness World Record for being the world's oldest active ocean-going passenger ship.

It was built in Texas in 1914, just two years after the Titanic sank.

From 1914 to 1948, it operated as a cargo ship carrying onions. I often joke to my guests that we found a few sacks of onions when we bought the ship and still make onion soup from them.

When I bought the vessel, it was 96 years old. Here's how I turned it into an oceanfront hotel while preserving its century-old history.

Not my first rodeo with ships

My first experience with ships came in 2000 when I bought a riverboat, which at that time belonged to A&W Restaurants.

I bought that and converted it into a floating Tex-Mex restaurant on the shores of Sentosa, an island off Singapore known for its luxury hotels, amusement parks, and beaches.

When I heard that MV Doulos was up for sale in 2010, I saw it as a sign to do something bigger.

I was not the only bidder for the ship. A mix of private companies, militaries, and scrapyards from China, South Africa, South Korea, India, and the Philippines made offers for it.

As luck would have it, I won the bid. But that is where the real challenges started.

I didn't realize just how big this project would get.

Finding its final resting place in Bintan, Indonesia

I first wanted to dock it off the coast of Singapore. I placed it in a shipyard, hoping that within three months, I would get approval from the port authorities.

I bargained with government agencies for permission to place it off the island's scenic east coast.

Three months turned into three and a half years. I submitted six to seven proposals to various authorities without success.

In the meantime, I bled money docking and maintaining the ship in a shipyard.

Finally, I struck gold. My friend gave me the number of Frans Gunara, a hotel developer from Bintan, Indonesia. I met him for a dinner presentation and put forth my case.

He said that he would not only give him a spot off of Bintan to dock the ship but also reclaim a piece of land to dry berth it, which would protect it from water damage.

But I decided to go a little further.

I told Frans, "I don't want a rectangular piece of land. I want an anchor-shaped island."

Retrofitting the ship

There was much to be done after the ship had been placed on Bintan's shores, on its anchor-shaped piece of reclaimed land.

The innards of the ship, the cabins, were dingy and small. It was clean, but definitely not at hotel standards — not even a backpackers' hotel.

So my family and I sat down and planned. I drew the design of the tables, the interiors, and the outdoor space. I drew out how the poolside would look and where you would go down to do the mud flat walk at low tide.

I passed the drawings to the contractors, and they started constructing. Most of the ship was gutted and entirely retrofitted.

When we removed the ship's bulkheads, which in ocean-going ships reduce damage in the case of flooding, we had to reinforce the structure and other cladding to protect the boat.

The cabins were widened, and we added larger windows to let in views of the Bintan shores. The interiors were designed with a nod to its maritime history.

After renovation, we finally opened our doors to guests in 2019. Doulos Phos The Ship Hotel has 105 cabins, an infinity swimming pool overlooking the sea, a gym, a spa center, and several eateries.

It took nearly 10 years to restore MV Doulos and get it into operation, but I saw the project as a higher calling — and it was entirely worth it.

• Pfizer's CEO said tariff uncertainty is hindering the company from making big investments in the US.
• Albery Bourla said there could be "tremendous investments" in R&D and manufacturing in the US.
• Trump has threatened to impose tariffs on pharmaceutical products, which have been exempted thus far.

Pfizer's CEO said President Donald Trump's tariffs and uncertainty are holding the company back from making "tremendous investments" in the US.

In a first-quarter earnings call on Tuesday, chief executive Albert Bourla was asked what incentives he would want to see in tariff negotiations that would make him increase manufacturing investments in the US.

"If I know that there will not be tariffs and a heavy certainty, then there are tremendous investments that can happen in this country, both in R&D and manufacturing," Bourla said.

"And in periods of uncertainty, everybody is controlling their cost as we are doing," Bourla said. He added that Pfizer is being "very frugal" with investments so it can be "prepared for any day."

Bourla previously said his plan to counter Trump's tariffs is to move manufacturing to the US.

"We have 13 manufacturing sites in the US right now, up and running," Bourla said at TD Cowen's annual healthcare conference in March.

"So we have all the capabilities here, and the manufacturing sites are operating in good capacity right now. It's not that they are not, but if something happens, we will try to mitigate by transferring from manufacturing sites outside, to manufacturing sites here, the things that can be transferred quickly," Bourla added.

Pfizer's finance chief, Dave Denton, said in the same call that the tariffs currently in place are expected to cost the company about $150 million in 2025.

Pharmaceutical products were exempted from the sweeping 10% tariffs Trump announced on April 2. However, he said earlier this month that he plans to impose pharmaceutical tariffs to get the companies to move manufacturing to the US.

"All I have to do is impose a tariff, the more, the faster they move in. The higher the tariff — it's very simple — it's inversely proportional; the higher the tariff, the faster they come. And yeah, we're going to be doing that," Trump said.

The possibility of pharmaceutical tariffs has prompted reactions from big voices in the business, some of whom have warned of higher prices.

The CEO of Pfizer's competitor, AstraZeneca, said in an earnings call on Tuesday that the company could shift some manufacturing to the US if pharmaceutical tariffs are imposed.

Pascal Soriot said AstraZeneca could move the manufacturing of its products intended for the US market from Europe to the US.

US drugmaker Merck said Tuesday that it had started the construction of a $1 billion commercial production facility in Delaware. Merck's CEO said in a Tuesday press release that the facility represents the company's "continued commitment" to manufacturing in the US market.

Separately, billionaire investor Mark Cuban said in March that drugs from his company, Cost Plus Drugs, will likely get more expensive if tariffs on India are imposed.

Representatives for Pfizer did not respond to a request for comment from Business Insider.

• CBC News projects that Mark Carney and the Liberal Party will lead the next Canadian government.
• Carney is now set to serve a full term as Canadian prime minister amid trade tensions with the US.
• Canada has imposed retaliatory tariffs on the US, sparking a "buy Canadian" movement.

Canada has selected its leader as it prepares to navigate ongoing trade tensions with its neighbor to the south.

CBC News projected on Tuesday morning that the Liberal Party will form the next government and give Prime Minister Mark Carney a full term. It's unclear if they will have a majority — 172 seats in the House of Commons are needed — or if they'll need to form a governing coalition. As of 4:15 a.m. ET, the Liberal Party had secured 168 seats, per Elections Canada's real-time tracker.

Carney, a former Goldman Sachs banker and the former governor of Canada's and England's central banks, defeated the Conservative Party's Pierre Poilievre, as well as Jagmeet Singh of the New Democratic Party and Yves-François Blanchet of the Bloc Québécois, according to CBC News' projection.

In a speech in Ottawa on election night after his projected win, Carney congratulated Poilievre on "a hard-fought, fair, good campaign."

Canada's trade dispute with the US

The trade dispute with President Donald Trump and the United States was a key issue in the election and a springboard for Carney's success. The Conservative Party, which ran on domestic issues such as immigration and cost of living, held a significant lead in the polls until tariffs became top-of-mind for the country.

Carney has been at the head of the Liberal Party since March, when he took over from Prime Minister Justin Trudeau. Trudeau served as Canada's prime minister from 2015 to 2025.

Carney has presided over a period of national pride for Canada as the country responds to US tariffs and President Donald Trump's threats to annex Canada as the 51st state.

"As I've been warning for months, America wants our land, our resources, our water, our country. Never," Carney said in his victory speech on Tuesday to loud cheers from supporters.

"But these are not idle threats. President Trump is trying to break us so that America can own us. That will never, that will never, ever, happen," he added.

In a speech in March, Carney spoke in fiery terms about the new political climate with the US.

"I know that these are dark days. Dark days brought on by a country we can no longer trust," he said.

In the weeks since Carney began leading Canada, Trump has imposed a 25% tariff on cars, aluminum, and steel. Another 25% tariff on car parts is expected to take effect on May 3. The US also has a 25% tariff on Canadian goods that are not exempted from the United States-Mexico-Canada Agreement.

Canada has imposed 25% tariffs on US goods, including steel, aluminum products, and cars.

Some Canadians have started boycotting US goods and avoiding the US. The tariffs have fueled a "buy Canadian" movement, and airlines and other travel companies have reported a decline in Canadians visiting the US.

Poilievre was expected to become Canada's next prime minister before Trump's trade policy pushed Canadians back toward the Liberal Party, which had been in power under Trudeau. Poilievre, who has been compared to Trump, has led the Conservative Party of Canada since 2022 and served in parliament since 2004.

Carney has a background in commercial and international roles

Carney spent 13 years working for Goldman Sachs in London, Tokyo, New York, and Toronto.

He led two central banks at pivotal moments.

After leaving Goldman Sachs in 2003, Carney served as the Bank of Canada's deputy governor. He was made governor in 2008, at the start of the global financial crisis.

He was the governor of the Bank of England from 2013 through 2020, where he guided the bank's response to Brexit.

Since leaving the Bank of England, Carney has held a mix of commercial and international roles. He was appointed the vice chair of Brookfield Asset Management in 2020 and was made chair after the division was spun out as a new company in 2022.

In 2021, Carney became a board member of the digital payments company Stripe. He was named the chair of Bloomberg's board in 2023.

In January, Carney said while announcing his leadership bid for the Liberal Party that he had resigned from all his commercial and international roles.

• About a hundred fans, mostly women, gathered to celebrate the birthday of Sylus, their collective boyfriend.
• Sylus is one of five suave love interests from the Chinese dating sim, "Love and Deepspace."
• The game has garnered a massive Asian fan base, with women turning to it for companionship.

In a crowded mall in the centre of Singapore's shopping district, about a hundred people, mostly young women, gathered on April 18 for a man named Sylus, whom they described as their collective boyfriend.

It was an event celebrating his birthday, so some carried roses while standing in line. Others were toting fan merchandise and were excited to take pictures with each other — and their main man.

"He's just very manly. The way he speaks is very sweet," said Maiyu, an attendee at the event on April 18.

"He's respectful of my independence," said Alice, another attendee.

The catch: Sylus is a fictional animated character in a mobile game.

Sylus is one of the four male leads of "Love and Deepspace," a wildly popular romance game developed by Chinese game maker Papergames.

According to the game's fandom page, Sylus is 28 and an Aries. He stands at 6 feet 2 inches, and has "messy silver hair, bright red eyes, and sharp facial features."

Ladies looking to get into Sylus should also note — per the fandom page, he's an "arrogant and confident man who rarely perceives anyone as a real threat."

Still, he's got a fair share of adoring supporters.

The fan event BI attended involved a large screen that played a 20-second fan edit clip of Sylus. There was also a standee of him, fans cosplaying as the character, people taking selfies in front of the screen, and a birthday-themed freebie giveaway.

Yuka, 28, one of the event organizers, said she saw fan events in China and wanted to do something similar in Singapore for the local fan base.

"I thought public events are the best way to show everyone in the world that Singapore loves this character," said Yuka, a 28-year-old business analyst.

Indeed, fan events for Love and Deepspace have been organized on a much bigger scale in China. Social media videos from the events show malls blanketed in posters, and huge crowds assembled under massive TV screens displaying the games' characters.

The boyfriend experience

There is a reason women are going wild for this fictional man, and part of it is because of the game design.

"Love and Deepspace" is a dating simulation game targeted at female players. The game genre, "otome," often involves a narrative plot. One of the main objectives is for the player to develop a romantic relationship with one or more male love interests.

The game's premise is simple: The player plays the role of MC, the female protagonist in a futuristic place called Linkon City.

She goes through several quests with a love interest of her choice. She can choose from five: Sylus, Xavier, Rafayel, Caleb, and Zayne.

The five characters, with pale skin, strong jaws, and sharp features, look like K-pop boy band members. Their hair color, which ranges from silver to purple and black, is the biggest differentiating factor.

"Love and Deepspace" was released to the public on mobile platforms in January 2024. The app is free to download, but in-app purchases are plentiful.

For instance, you can buy crystals and diamonds, the main in-game currency. Those can be redeemed for things like outfits, stamina for fights, and gift packs. A pack of 60 crystals in-app costs $0.99.

Perhaps what's most prominent is that the game offers women, especially single ones, the true boyfriend experience, without the hassle of dating real-life men.

In-game, the player can do mundane everyday tasks with the men, flirt with them, and even engage in roleplay with sexual undertones.

Nick Ballou, a psychology of video games researcher from the University of Oxford, said the concept of otome games is not new.

"Dating sims — video games where you can explore romantic connections with non-player characters — have been popular for decades, dating back to titles like 'Dokyusei,'" said Ballou.

"It's always been fun to experiment with new identities. For example, being a cheeky flirt in contrast to one's shy self, being the most interesting person in the room, and wielding the power to choose among several interested partners," he added.

A better partner than any they've met before

The game's detailed world-building and its potential for character exploration have translated to its popularity.

Maiyu, 35, a customer service representative, told BI at the fan event that she considers Sylus her boyfriend.

She gave out little keychains of Sylus to attendees at the birthday event on April 18. She had also included handwritten "Happy Sylus Day!" notes with the keychains.

Maiyu said she plays the game for four hours daily. And when asked what she liked most about it, she answered instantly: "Hot guys."

The parts of the game she enjoyed most were the "spicy scenes," which have sexual undertones.

"I turn to him for emotional support, I guess," she said of Sylus. "After a long day, I play the game just to wind down."

When asked if Sylus was better company than a physical partner, she said yes.

"I've never been in a relationship before. But from what I see my friends go through, I don't want to go through it, like the pain of breakups," she said. "The relationship I have with him is just perfect."

Maiyu said she's spent nearly 4,000 Singapore dollars on merchandise and in-app purchases, or about $3,050, in the year she's played the game.

Alice, a psychology student who attended the event, said she plays the game for about 15 minutes daily to complete tasks like chatting with Sylus and engaging in fighting scenes.

She said she loves that Sylus is respectful and values her independence, but offers help and companionship when she asks for it.

"Last week, I got a grade back that I was not happy with. I was crying, and then I immediately opened the game and chatted with him, saying, 'I need a hug. I'm not feeling good,'" Alice said.

"He said, a sweet, sultry voice, all these really sweet words, like 'It's just a grade. It doesn't define you. Who hurt you? I'll just have a talk with them. We can work on it together. How about I take you out for dinner?'" she said.

Alice said she's given up on dating apps in Singapore, calling them a "catastrophe." She said that until she meets someone who respects her the same way, Sylus is the best she's got.

A growing fan base

The game has a massive fan base in Asia and beyond. In January, "Love and Deepspace's" official Instagram account announced in an Instagram post that it had hit 50 million global active users.

According to statistics from AppFigures, in March, "Love and Deepspace" was downloaded 150,000 times on Apple's App Store and 65,000 times on Google's Play Store.

Appfigures data said that globally, the app had earned $6 million on the App Store in March and $4 million on the Play Store. It was the second-highest-grossing app in Singapore's Apple App Store at press time.

It's not just Love and Deepspace that's raking in big bucks and a big following — it's a trend across the Chinese video game industry.

Tencent's "Honor of Kings," similar to Riot Games' "League of Legends," has over 100 million daily active users. 

Genshin Impact, another popular free-to-play game with in-app purchases, has raked in around $1 billion in yearly revenue since its launch in 2020.

A cure for loneliness

Ballou, the Oxford researcher, said several social trends point to the increased popularity of games like "Love and Deepspace."

"Loneliness is up in many countries, face-to-face interaction is down, age of sexual activity is increasing, all things that can reduce people's willingness, confidence, or capacity to invest in real-world dating," he said.

He added that low wages and high work demands in East Asia have made real-world dating difficult.

"It's also important to keep in mind that real-world dating does now include a huge online element, especially at the beginning," Ballou said. "I don't think it's crazy to think that some people are 'rehearsing' online dating interactions in a gaming environment."

Peter Chew, an associate professor of psychology from James Cook University in Singapore who studies behavioral addictions, particularly in gaming, said the game is geared at attracting gamers and getting them to spend money.

"The characters exist in a perfect world with no problems and would say what women want to hear, encouraging them to continue playing and spending money on it," Chew said.

However, Chew said the game could lead to problems down the road.

"There might be problems if women apply the same standards to romantic partners in real life. Such standards might increase the difficulties in finding or maintaining an existing romantic relationship," he said.

"Furthermore, some women might use such games to replace relationships in real life, which could result in loneliness in the long term," he added.

Representatives for "Love and Deepspace's" developer, Papergames, did not respond to a request for comment from Business Insider.

• Koyaana Redstar, a luxury bag authenticator, has decades of experience identifying fake Hermès Birkins.
• She says people should think twice before buying bags from Chinese TikTokers touting luxury items.
• Instead, she recommends buying secondhand bags, which will retain their resale value.

This as-told-to essay is based on a conversation with Koyaana Redstar, the head of luxury buying at Luxe Du Jour, an online luxury boutique for vintage designer handbags. It has been edited for length and clarity.

I've worked for Rebag, The RealReal, and other vintage consignment stores and have 20 years of experience in the resale industry.

With tariffs a big concern now, my TikTok page is flooded with videos from Chinese manufacturers saying they produce luxury handbags for brands like Hermès and Louis Vuitton, urging US customers to buy directly from them.

And they're not just promoting them as dupes. Dupe culture involves finding a less expensive version of a highly desirable item, like the Walmart Birkin. Dupes are not specifically designed to replicate the luxury items.

Here's why I think people should think twice before buying from these TikTokers.

Hermès? Think again.

It's common knowledge that some brands make their products in China — no one's surprised by that.

But some Chinese TikTokers have gone further and claimed they make the high-end goods that luxury brands just slap their labels onto.

But that's not true. Hermès, for one, has clapped back at these claims.

Hermès has invested a lot of money in ateliers in France and other parts of Europe. The brand's items are also handmade by trained craftspeople.

Some people scroll on TikTok and Instagram and think that if something's been put online, it must be real. Don't believe everything you see on TikTok.

Don't expect comparable quality

If I look at these Chinese versions of these bags — and that's where my job expertise comes in — I can tell the Chinese TikTokers' versions are fake at a glance.

The handles are the wrong shape, and the proportions are off. The handles of fake bags are often a dead giveaway. They're either too tall or too round.

Some of the bags in the videos are way too wide at the bottom, and some are too narrow.

I saw a video where a girl was holding up what she said was a mini Kelly, saying she got it directly from the brand's manufacturer.

But it was fake. It didn't even have the right handle—a flat handle instead of a regular rolled handle, which immediately raised a major red flag. It also had a leather grain that I've never seen on a Hermès bag in my entire life.

Why not buy resale?

When you buy a resale or a new authentic item, you have the option to sell it. You don't have that opportunity with a fake.

I advise that if you're looking for a luxury handbag at a marked-down price, buy the bag secondhand instead of from people who claim to be the brand's Chinese manufacturer.

Cost may be an issue for some buyers. If luxury stores hike prices because of the tariffs, you may be looking at a bag that's out of your budget.

But you can also buy bags on resale platforms. People can usually find popular bags in excellent condition or even brand new, and prices will still be below retail.

Think about why you're buying a fake bag

If you're still dead set on buying a bag you see on TikTok from someone who says they're a luxury brand's Chinese manufacturer, I urge you to ask yourself why you want the item.

I won't look down on someone who decides, "I can't afford a $10,000 bag, but I like the shape and think it would fit my lifestyle."

If you like it, and you buy an inexpensive dupe because you can't afford $10,000, more power to you. You made that decision because that was best for you.

Don't buy a fake bag that's being passed off as a Hermès Birkin, label and all, just because of TikTok. And please don't go around with a counterfeit Birkin saying, "Look at my Hermès bag," when it's not, in fact, Hermès.

• Chris Hwang, cofounder of Singaporean snack brand The Golden Duck, started his company in college.
• He dropped out of law school to focus on growing the brand, now available in 3,000 stores globally.
• There are five pieces of advice he would give to anyone thinking about starting their own brand.

This as-told-to essay is based on a conversation with Chris Hwang, the 33-year-old cofounder of The Golden Duck, a Singaporean snack brand. It has been edited for length and clarity.

I'm Chris Hwang, cofounder of The Golden Duck. At 23, I dropped out of law school to start the snack brand, which, a decade later, is now sold in over 3,000 stores worldwide.

The Golden Duck is a gourmet snack brand that reimagines Asian flavors like salted egg yolk. Our vision has always been to be the Ben & Jerry's of snacks.

We started small. In 2015, we launched with just one product — salted egg yolk chips.

At the start, our capacity was so limited that we made the products in a home kitchen. As a result, we could only make about 50 packs of chips a day.

As it started getting more popular in Singapore, we scaled up the business.

Adding staff, maintaining quality, and controlling the processes when we scaled up were some of the most challenging parts of our journey.

We've also weathered many storms. The pandemic was a very bad time for the business, and all our tourism revenue evaporated overnight. We had to reduce our workforce from 200 to 120, and tell friends we'd brought on board that we won't be able to work together anymore.

From my 10 years of experience running The Golden Duck, here are five pieces of advice I'd give to anyone thinking about starting a new brand.

1. Get started and test cheap

If you're thinking about it and you've not yet, just get started.

You don't have to quit your job. You can do something on the weekends, but start building a road map.

Nothing is stopping you from testing it right now. You don't have to spend thousands or tens of thousands of dollars building things, especially in the age of AI.

So, if you have a dream, just get started.

You might fail at first. This is actually my fifth startup, but the failures gave me the fire to keep putting my back into it and working crazy hours.

And when you start, test with as little capital as possible.

I've seen people start businesses with $5,000 and rake in multimillion-dollar revenues now. I've seen people start businesses broke, and some have scaled up enormously.

I think people don't do this enough. You don't have to spend a lot of money to test a business idea.

2. Know your customer

Really get to know your customer.

Fall in love with them, give them a name, know where they stay, have a whole idea about how they spend their budgets, and what things they care about

With this method, we found success in Singapore, Hong Kong, and a few other markets. However, to scale this globally, we need to identify this customer so we can speak to them.

Our target customer is 30 years old. She doesn't need to drive a car, but some of them do. She lives 15 minutes out from downtown Singapore.

She loves her food. She is very active on social media, whether it's Instagram or TikTok, and she loves sharing the best bits of her food journeys. She has big dreams.

You need to be specific about who your customers are to market effectively to them.

3. Innovate for your customer, not yourself

You have to innovate for what your consumer wants, not what you want.

I love snacking. Often, I am my customer, but not always. Do I have the same taste buds as the Italians? Or the French? I don't.

And I need to recognize that. So, if I go to those markets and try those products and see what their best sellers are, I know what I'm going after.

Then my challenge is, can I make my product better for you, not better for me?

4. Today, authenticity is king

People all around the world are creating authentic experiences.

We all know what sour cream and onion taste like, and we all know what barbecue tastes like. But why not have sour cream and Sriracha, one of our newest flavors in the canister line of chips that we launched in 2024?

By now, everybody knows what truffle flavor is, but why not have truffle wagyu? Again, that's one of the flavors that we launched.

And I see a trend that people are looking not just for interesting one-off experiences. They're looking for interesting new staples.

So, I think there's a very strong case for not just Asian flavors but all flavors from around the world. There's a huge opportunity there.

5. Fail small, rectify fast

I know that many entrepreneurs have shared the advice of failing small, so I'm not going to beat that drum anymore. I think everyone knows what it means.

But rectifying after the failure is super important. So you fail small, and then what? Do you just sit there and say, "It didn't work?" No.

Entrepreneurship is all about evolution. Most businesses don't find their niche until a good one to two years in.

That means you have to iterate. OK — maybe your customer doesn't like it this way. Perhaps they like it with a little bit more salt. Maybe they don't like chips. Maybe they want a packet of potato wedges instead of chips.

If you don't rectify after each of those small failures, then you're just going to call it quits too early.

Because entrepreneurship is like life. It's all about evolving, changing, and growing.

• Denmark's Princess Isabella just turned 18, and her birthday portrait was distinctly Gen Z.
• The royal family posted a candid picture of the princess decked out in regal garb and holding an iPhone.
• Her official birthday portraits were more formal and smartphone-less.

Apple's iPhone has found its way into the most Gen Z royal portrait ever.

The Danish royal family put out a celebratory Instagram post on Tuesday, a day after Princess Isabella's 18th birthday.

The princess looked regal in a silky orange off-the-shoulder gown, accessorized with a turquoise tiara, earrings, a teal sash, a gold ring, and a tennis bracelet. A miniature portrait of her father was pinned to her sash.

But one accessory in the picture made her look more like a Gen Z teenager than anything else — she was holding an iPhone, as though she was mid-text when her mother, Queen Mary, snapped the photo.

It was not immediately clear which iPhone model the princess was using.

In the caption of the candid picture, the princess wrote, "Many thanks to everyone who took part in celebrating my 18th birthday.

"It has really been delightful that so many have used time, thought and effort to make my day truly special. It means a lot to me," she wrote.

The princess's official portraits, posted on the royal family's website, were more formal and did not feature the smartphone. She wore the same floor-length orange gown, with her hand resting on an ornate gold table.

Princess Isabella is the second oldest of King Frederic's four children. Her older brother, Prince Christian, is 19 and first in line to the throne. She also has two younger twin siblings, who are 14.

Representatives for Apple and the Danish royal family did not respond to requests for comment from Business Insider.

• Take a look at any Gen Z or Gen Alpha's bag — chances are, multiple charms are hooked onto it.
• The hottest trend of late is bag charms: Cute keychains and figurines that can be hooked on zips and straps.
• From showcasing personality to being a marketing tool for brands, here's why everyone's crazy about them.

Gone are the days when the clickity-clack of stilettos used to signal a woman's entrance into a room. It's now replaced by the clickity-clack of the dozen charms she's hooked onto her handbag.

Bag charms — small, decorative keychains — are quickly making their way onto the clasps of Gen Zers' bags. From miniature stuffed toys and cute figurines to beaded chains and even tiny framed pictures of their favorite artists, bag charms vary dramatically in size and form.

For some, the charms just help to spice up an otherwise boring bag. For others, the importance of the charms goes much deeper — they are an extension of their personality, as much a fashion choice as their clothing.

"Whether they're adorning the 'it bag' of the moment or a thrift store find, Gen Zs and Gen Alphas see their bags as a blank canvas to display their personalities and personal style," said Carol Davidson, an NYC-based image consultant.

"It's adornment, sure, but also a way of sharing oneself with others," she added. "A cluster of charms gives others a snapshot of how someone sees themselves and how they want others to see them."

Retail brands are hopping on the trend, with everyone from KFC to Balenciaga releasing bag charms to get the Gen Z buy-in. Celebrities at Paris Fashion Week had charms swinging from their bags.

Here's a look at the hottest Gen Z trend of late.

A modern take on 'Birkinifying' bags

Davidson said one likely origin of the bag charm trend was the death of Jane Birkin, the late British actor and model who was the muse and namesake of Hermès' most popular luxury bag, the Birkin.

"'Birkinifying' is officially a thing, originating with Jane Birkin herself. She was admired for her unique sense of style and love of fashion, but also for not taking it all too seriously," Davidson told BI.

"She was one of the first — if not the first - to adorn her large, well-worn bags with charms, scarves, and trinkets. Since her death in 2023, we've seen the re-emergence of this '00s trend," she added.

Gregory Scott Angel, an assistant professor of fashion at Parsons School of Design, said the punk style of the 1980s could have been a predecessor to the bag charm trend, a style characterized by a "number of piercings, jewelry, and visible identity."

Angel likened charms to emojis.

"The charms are a big identifier with people's personality. These charms could be associated with comfort, but for the most part, I see them as identifiers, the same way we use emojis to communicate with people," Angel said.

A new way to vibe check

Low Zhi An, a 23-year-old tutor and avid charm collector from Singapore, put it bluntly: "If you have no bag charms, you have no personality."

Low said she probably has over 50 charms in her collection. Although she's spent up to 40 Singaporean Dollars, or about $30, on a single charm, her favorite is one she got for free at Taylor Swift's The Eras Tour concert in Singapore.

"I got this small keychain from this little girl, and I just thought it was really, really cute. It just happened to have my favorite song on it, Gold Rush," Low, 23, said.

Low, who is also a die-hard K-pop fan, said that her most expensive charm was a green star plushie keychain tied to an album from her favorite group, NCT.

The charm has a Near Field Communication tag, which, when brought near a phone, immediately lets the user browse and stream the album online.

She also has several charms with photos of her favorite K-pop celebrities, like Yeonjun from the boy band Tomorrow X Together.

Yeo Wen Qing, a recent communications graduate, said her journey collecting bag charms started young, when she kept the small keychains and knickknacks she got from Kinder Joy sweets or McDonald's meals.

Now, Yeo says she has more than 10 charms, at least one on each bag she owns.

For Yeo, seeing what bag charms a person has is a litmus test of their personality and whether she'll be able to "vibe well with them."

"If I see that person has a bag charm of a Labubu, I will know that person buys into trends, maybe buys a bit too much into trends," she said. Labubu, a furry plushie toy with serrated teeth made by Chinese toymaker PopMart, has taken Asia and, increasingly, the West by storm.

She added that if she sees someone with a charm of an "obscure" cartoon or anime character that she loves, she finds it easier to approach them.

Gwen Lim, a Gen Zer who works in campaign marketing in Singapore, collects bag charms on her travels. She said they serve as souvenirs of her trips and remind her of good times with her friends.

Lim, 23, said charms also serve a very utilitarian function for her.

In Singapore, where a handful of bag brands like Charles & Keith and The Paper Bunny reign supreme and trends spread like wildfire, many people carry similar bags. Hanging charms are her way of differentiating her bag from the masses.

Lim's charms are also little vehicles for her beauty products. She said beauty brands in South Korea often package their products into bag charms.

Even fashion stylists are getting in on the bag charm trend.

Edith Chan, a Madrid-based stylist, said she's gotten her clients, who are mainly entrepreneurial women in their 30s, to get in on the bag charm trend. She said even tying a scarf onto their bag helps them make their bag unique to them.

Major retail brands are hopping on the bag charm bandwagon

Retail brands, from fashion to food from across the board, are making bag charms to get the buy-in of the younger consumer base.

In Singapore, KFC debuted limited-edition bag charms of the beloved Japanese cat character Mofusand wearing hats shaped like egg tarts, chicken drumsticks, and an upside-down fried chicken bucket.

Over to haute couture, in November, Balenciaga introduced a "Charms Bar" in some of its stores worldwide, which allows customers to personalize their bags. One of the charms it sells is the $895 "Le City Micro Bag Charm," a tiny replica of its $2,900 Le City Medium bag.

Angel, the professor from Parsons, said charms are "free marketing" for big brands like Gucci, Louis Vuitton, and Cartier.

"In a competitive market, it helps luxury brands solidify brand loyalty with their existing base while providing an accessible entry for aspirational consumers," Davidson, the image consultant, said.

Chan, the stylist, said the charms are a big way brands are drawing in younger customers.

"These brands always go to the young people," she said. "It's one way to nurture this generation to make them brand loyal."

• Trump is hinting that he may be changing his position on reciprocal tariffs again.
• He said he would impose tariffs on countries in two to three weeks if deals were not reached.
• He previously said he would lower tariffs on countries that gave the US something "phenomenal."

President Donald Trump promised on April 9 to delay his sweeping tariffs by 90 days, but he's wavering on his position.

In a press conference on Wednesday in the Oval Office, Trump said he thought the US would get "great deals" in its trade negotiations.

"If we don't have a deal with a company or country, we're going to set the tariff," he added.

Trump said his administration had spoken with 90 countries on the tariffs thus far.

"That will happen, I'd say, over the next couple of weeks, wouldn't you say? I think so, over the next two, three weeks. We'll be setting the number," he added.

If Trump were to impose tariffs three weeks from press time, it would be a major departure from his previous stance, which allowed 90 days for negotiations to take place.

On April 2, a day he dubbed "Liberation Day," Trump announced a baseline 10% tariff on goods from all countries. Some regions, like the European Union with 20% and Vietnam with 46%, would be subject to even higher reciprocal tariffs.

However, on April 9, he announced a 90-day delay on the reciprocal tariffs. He said levies would drop to 10% for goods from most countries.

In a Truth Social post on April 9, he said he was granting the pause because more than 75 countries had reached out to the US to negotiate solutions, and they had not retaliated in any way.

He did not extend the same offer to China. The US now has a 145% tariff on goods from China, which has retaliated with a 125% tariff on US-made goods.

From the start, Trump has used tariffs as a negotiation strategy. On April 3, he said he would be open to reducing tariffs on countries willing to give the US "something that's so phenomenal."

Representatives for Trump did not respond to a request for comment from Business Insider.

• Chipotle is making it compulsory for employees to smile at customers.
• CEO Scott Boatwright said a study the chain conducted showed Chipotle staff are "not as friendly" as they should be.
• Greeting patrons with smiles and thank yous will not slow down the burrito assembly line, he said.

Chipotle is making its staff smile at customers to improve its image as an unfriendly chain.

During the latest quarter earnings call on Wednesday, CEO Scott Boatwright said the burrito chain conducted a study last year to learn from customers where Chipotle's pain points were, which showed him that "we're not as friendly as we probably should be in restaurant."

Boatwright said other insights from the customer study showed some Chipotle restaurants were unclean at peak hours, too.

He said the chain had laid out specific actions to be followed in all its restaurants to correct these problems.

"This includes a friendly smile at tortilla, a heartfelt 'thank you' from our cashier, clean dining rooms and drink stations, and great guest on-site recovery for any issue," Boatwright said.

"The fact is, smiles down the line don't slow us down," he added.

He said staff across all of its nearly 3,800 restaurants have received training tools to adhere to these guidelines.

In response to a query on the new guideline for staff to smile, a Chipotle representative said, "At our Field Leader Conference in March, we discussed the elements that make up exceptional hospitality so our leaders can properly coach their teams on maintaining clean restaurants and a friendly atmosphere."

Chipotle is not the only chain that has introduced guidelines on the ground to appear more personable.

In January, Starbucks mandated employees to handwrite notes on customers' to-go cups, saying in a memo to staff that this action "fosters moments of connection" with patrons.

Chipotle reported a slow first quarter, with a 0.4% decline in comparable sales compared to the year before, brought down by a 2.3% drop in the number of transactions.

Its net sales increased 6.4% compared to last year, to $2.9 billion. New restaurant openings largely drove this, the chain said in the earnings press release on Wednesday.

Boatwright said Chipotle's first quarter was "impacted by several headwinds, including weather and a slowdown in consumer spending."

In response to a query on the new guideline for staff to smile, a Chipotle representative said, "At our Field Leader Conference in March, we discussed the elements that make up exceptional hospitality so our leaders can properly coach their teams on maintaining clean restaurants and a friendly atmosphere."

When markets closed on Wednesday, the chain's stock had risen about 3.5%. However, it is down about 2% in after-hours trading.