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Self-made millionaire behind $4 billion Skims, Emma Grede says it all began with a cold call

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You’ve probably heard of the British Entrepreneur Emma Grede because of Skims, the $4 billion shapewear company she runs with Kim Kardashian. She’s also invested in other brands with the family, such as the cleaning products company Safely and Kylie Jenner’s clothing line, Khy. And the growing empire can all be traced back to one phone call she made to Kris Jenner that changed everything.

It was in 2015, and Grede had built her own entertainment and talent agency, Independent Talent Brand, which saw her jetting between London and LA.  “I knew every manager, agent, publicist, lawyer in Hollywood, that was my job,” Grede recalls in an exclusive interview with Fortune

And it put her in the perfect position for pitching her new idea: a radically inclusive denim brand tailored for women who’d been overlooked by mainstream fashion. In her mind, she’d already picked the perfect partner for the brand: Khloe Kardashian, who “embodied that idea right from the beginning.” The star had often been honest about her experience as the curvy sister. 

But here’s the catch: Grede hadn’t run a fashion business before, and the two had never worked together. Instead of waiting for an introduction, she boldly called the family matriarch and “momager”, Jenner herself. 

“I had an idea, and I formed the partnership in my mind,” the now 42-year-old self-made millionaire says. “The difference between me and someone else is that I made the phone call, I took the meeting, and I made it happen.”

“I have no imposter syndrome and no delusions of who gets to run a business,” Grede adds. “I just thought, if not me, then who?”

Jenner asked Grede when she’d next be flying to LA to discuss the partnership face-to-face. At the time, Grede was only flying that way once a quarter, but she quickly lied and said she was heading there the next week. So that’s exactly what she did—and the rest is history. 

When Good American denim dropped a year later, it made $1 million on day one, making it the biggest denim launch in apparel history. And since then she’s gone on to sit on the board for the Obama Foundation and become the first Black female investor on Shark Tank. Most recently, she’s teamed up with tennis champion Coco Gauff on a mentorship campaign with UPS.

Now, Grede says she’s always advising founders to copy her, be more bold and put themselves out on a limb: “An idea in your head is just an idea in your head—a lot of people talk and speak about things a lot, sometimes you just got to do.”

Emme Grede says she’s always been ‘audacious’

Grede’s confidence isn’t luck—or even something she developed alongside the billion-dollar success of her businesses. It’s a trait she was just born with. “I’ve got a lot of audacity and I think that you need that to get to where you want to go,” the East Londoner tells Fortune.

In her late teens, for example, Grede had aspirations of working in Britain’s equivalent of Broadway. When the theatre bosses ignored her handwritten notes asking for work experience, she stormed there in person.

“I remember pounding the pavement in the West End,” she recalls. “I just thought, because I didn’t get any answers, that maybe they weren’t getting my letters. So I took to hand delivering letters.”

Even when she was holding down a day job, she’d boldly ask customers with enviable careers for work experience—and it’d work.

“When I was working in a clothes shop, I would talk to everyone, I’d be like, ‘where do you work? What would you do?” If a stylist came in on a Friday and was doing a shoot on the weekend, I’d be assisting them on the weekend. I did that multiple times.”

She says she’d actively put herself into “situations”, versus passively waiting for opportunities to come to her. After finding out where customers worked, she’d follow up with: “Do you need some help? Can I come?”

Grede’s advice for jobless Gen Z: Kill your darlings

Millions of Gen Zers are currently unemployed—or rather, NEETs, not in employment, education or training. 

Grede, meanwhile, has been working since the start of high school.

“I have had a job since I was 12,” she says. “I started delivering newspapers, then I worked in a deli, then I worked in about four different clothing shops, then I spent a year and a half doing work experience in every small designer and PR agency in London. Then I worked for Quintessentially then I went to Inca productions, where I worked for a fashion show production company. And I changed my job after about three years there. So I went from being an event producer to running the sponsorship department, and then I started my own company.”

Essentially, each experience led to the next. She treated every role—no matter how unglamorous—as a way to collect skills, contacts, and credibility that stacked into her next move. Thanks to a habit of speaking up and standing out, she squeezed real, résumé-worthy experience out of even the most unassuming jobs.

Of course, even Grede experienced her fair share of no’s along the way: “I got very, very, very comfortable with rejection. If I think about how many things didn’t work out for me, there are a lot more than the things that seemingly on paper did work out.”

But she dusted herself off and tried again. It’s why her advice for those struggling to break in is to look at every experience as a step forward—even if it’s not the dream role yet. 

“I would think about the idea of transferable skills,” she advises Gen Z job seekers. “We all set ourselves up to think about exactly what we might want to do. And the reality is that you can learn pretty interchangeable skills anywhere.” 

Growing up, Grede was fixed on the idea of working in fashion. “I could have got a lot of those skills in an advertising agency or working in another creative industry,” she explains. Gaining experience at an art gallery or boutique and then working your way up the ladder, is much easier than pining for a job at a fashion house straight out of college. You just have to put aside your ego and prioritise building momentum, over perfection.

“I’d do anything to get yourself going in forward motion,” Grede explains. 

“In England, we have that lovely saying, ‘killing your darlings’ and sometimes you just have to kill your darlings. You have to do whatever you’ve got to do to move forward. It’s better to just think about forward motion as opposed to being so fixated on what you’d originally imagined things would be like.”

Read more: Self-made multimillionaire behind $4 billion Skims empire says she was ‘using AI like a 42-year-old woman’—until Mark Cuban gave her a wake-up call.



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Trump administration waives part of a Biden-era fine against Southwest Air for canceled flights

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The U.S. Department of Transportation is waiving part of a fine assessed against Southwest Airlines after the company canceled thousands of flights during a winter storm in 2022.

Under a 2023 settlement reached by the Biden administration, Southwest agreed to a $140 million civil penalty. The government said at the time that the penalty was the largest it had ever imposed on an airline for violating consumer protection laws.

Most of the money went toward compensation for travelers. But Southwest agreed to pay $35 million to the U.S. Treasury. Southwest made a $12 million payment in 2024 and a second $12 million payment earlier this year. But the Transportation Department issued an order Friday waiving the final $11 million payment, which was due Jan. 31, 2026.

The department said Southwest should get credit for significantly improving its on-time performance and investing in network operations.

“DOT believes that this approach is in the public interest as it incentivizes airlines to invest in improving their operations and resiliency, which benefits consumers directly,” the department said in a statement. “This credit structure allows for the benefits of the airline’s investment to be realized by the public, rather than resulting in a government monetary penalty.”

The fine stemmed from a winter storm in December 2022 that paralyzed Southwest’s operations in Denver and Chicago and then snowballed when a crew-rescheduling system couldn’t keep up with the chaos. Ultimately the airline canceled 17,000 flights and stranded more than 2 million travelers.

The Biden administration determined that Southwest had violated the law by failing to help customers who were stranded in airports and hotels, leaving many of them to scramble for other flights. Many who called the airline’s overwhelmed customer service center got busy signals or were stuck on hold for hours.

Even before the settlement, the nation’s fourth-biggest airline by revenue said the meltdown cost it more than $1.1 billion in refunds and reimbursements, extra costs and lost ticket sales over several months.



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Trump slams Democratic congressman as disloyal for not switching parties after pardon

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Trump blasted Cuellar for “Such a lack of LOYALTY,” suggesting the Republican president might have expected the clemency to bolster the GOP’s narrow House majority heading into the 2026 midterm elections.

Cuellar, in a television interview Sunday after Trump’s social media post, said he was a conservative Democrat willing to work with the administration “to see where we can find common ground.” The congressman said he had prayed for the president and the presidency at church that morning “because if the president succeeds, the country succeeds.”

Citing a fellow Texas politician, the late President Lyndon Johnson, Cuellar said he was an American, Texan and Democrat, in that order. “I think anybody that puts party before their country is doing a disservice to their country,” he told Fox News Channel’s “Sunday Morning Futures.”

Trump noted on his Truth Social platform that the Democratic President Joe Biden’s administration had brought the charges against Cuellar and that the congressman, by running once more as a Democrat, was continuing to work with “the same RADICAL LEFT” that wanted him and his wife in prison — “And probably still do!”

“Such a lack of LOYALTY, something that Texas Voters, and Henry’s daughters, will not like. Oh’ well, next time, no more Mr. Nice guy!” Trump said. Cuellar’s two daughters, Christina and Catherine, had sent Trump a letter in November asking that he pardon their parents.

Trump explained his pardon he announced Wednesday as a matter of stopping a “weaponized” prosecution. Cuellar was an outspoken critic of Biden’s immigration policy, a position that Trump saw as a key alignment with the lawmaker.

Cuellar said he has good relationships within his party. “I think the general Democrat Caucus and I, we get along. But they know that I’m an independent voice,” he said.

A party switch would have been an unexpected bonus for Republicans after the GOP-run Legislature redrew the state’s congressional districts this year at Trump’s behest. The Texas maneuver started a mid-decade gerrymandering scramble playing out across multiple states. Trump is trying to defend Republicans’ House majority and avoid a repeat of his first term, when Democrats dominated the House midterms and used a new majority to stymie the administration, launch investigations and twice impeach Trump.

Yet Cuellar’s South Texas district, which includes parts of metro San Antonio, was not one of the Democratic districts that Republicans changed substantially, and Cuellar believes he remains well-positioned to win reelection.

Federal authorities had charged Cuellar and his wife with accepting thousands of dollars in exchange for the congressman advancing the interests of an Azerbaijan-controlled energy company and a bank in Mexico. Cuellar was accused of agreeing to influence legislation favorable to Azerbaijan and deliver a pro-Azerbaijan speech on the floor of the U.S. House.

Cuellar has said he his wife were innocent. The couple’s trial had been set to begin in April.

In the Fox interview, Cuellar insisted that federal authorities tried to entrap him with “a sting operation to try to bribe me, and that failed.”

Cuellar still faces a House Ethics Committee investigation.



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Jerome Powell faces a credibility issue as he tries to satisfy hawks and doves on a divided Fed

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With the Federal Reserve split between increasingly hawkish and increasingly dovish policymakers, Chairman Jerome Powell is due to perform some serious log-rolling when the central bank meets this week.

Another rate cut is a near certainty after the Fed meeting ends on Wednesday, but the main question is what Powell will say about the prospects for more easing next month.

Wall Street expects a hawkish cut, meaning Powell is likely to avoid signaling a January cut to appease Fed hawks, after joining doves to lower rates this month.

“Chair Powell is facing the most divided committee in recent memory,” analysts at Bank of America said in a note on Friday. “Therefore, we think he will attempt to balance the expected rate cut with a hawkish stance at the press conference, just as he did in October.”

But at the same time, the Fed chief has also been insistent that policymakers are not on a pre-determined course and that rate moves depend on the data that come in.

As a result, BofA is doubtful that he can pull off a hawkish cut so easily, considering all the market-moving data that will come out between the two meetings, with some delayed due to the government shutdown.

The week after the Fed meeting, for example, jobs numbers for October and November, October retail sales, and the consumer price index for November will come out. And December readings for those indicators are likely to be released before the next meeting on Jan. 27-28.

“It will be difficult for Powell to send a credibly hawkish signal at the press conference,” analyst said.

BofA still sees a way for him to thread the needle. One option is for Powell to suggest that “significant further weakening” in the jobs data will be necessary to trigger a January cut.

Another option is to argue that 3.5%-3.75%—where benchmark rates would be if the Fed cuts again this week—isn’t restrictive after accounting for inflation, meaning the central bank is no longer weighing on the economy as much.

Similarly, JPMorgan chief U.S. economist Michael Feroli said he expects Powell to stress that after this week’s cut, rates will be close to neutral. So any additional easing would depend on meaningful deterioration in the labor market and not be predicated in risk management.

For now, Wall Street doesn’t expect a January cut, with 25% odds currently being priced in on CME Group’s FedWatch tool. But BofA thinks Powell will likely leave the door open for one.

“We wouldn’t be surprised if markets start pushing more aggressively for a Jan cut in the near term,” analysts predicted. “And the anticipation of this outcome might raise the probability of more dissents in Dec, since hawks might be inclined to dig their heels in instead of compromising.”



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