In the wake of the Astroworld tragedy, Dior has opted to “postpone indefinitely” its Cactus Jack collaboration with Travis Scott.
Women’s Wear Daily (WWD) just recently reported on the partnership’s pause, which follows Travis Scott’s exit from the Coachella 2022 lineup as well as Nike’s shelving a planned sneaker release with the Texas-born rapper. According to a Dior statement disclosed by the fashion-industry trade journal (and Penske Media subsidiary) WWD, the luxury fashion house itself chose to indefinitely postpone the collaboration.
“Out of respect for everyone affected by the tragic events at Astroworld, Dior has decided to postpone indefinitely the launch of products from the Cactus Jack collaboration originally intended to be included in its summer 2022 collection,” said statement reads.
However, the same article relays that Travis Scott and Dior “mutually decided to postpone the collection’s January launch” – according to the Utopia artist’s team. But this information was integrated into the piece after publishing – an editor’s note acknowledges the “additional update from Travis Scott’s team” – while a different update yet was made “to reflect that the collection has been indefinitely postponed and not cancelled.”
In any event, the development represents the latest in a series of post-Astroworld setbacks for Scott, who, along with Live Nation, is facing a number of lawsuits over the deadly tragedy.
The Ticketmaster parent company and the 30-year-old artist have denied responsibility for the disaster, but additional controversy arose last week, when it came to light that Live Nation had allegedly called on certain Astroworld staffers to sign legal waivers in order to receive pay for their work. Members of Congress then referenced this alleged demand when announcing a probe into Live Nation.
Long term, the Astroworld tragedy could have a material impact upon Travis Scott’s earnings, which are seemingly attributable in large part to sponsorships and partnership agreements. A November of 2020 piece from Forbes, for instance, said the Houston native Scott had pulled down “around $10 million” per year from his Nike deal, with his Fortnite appearance having reportedly put a $20 million check in his pocket.
Lastly, the “Sicko Mode” rapper’s McDonald’s meal reportedly brought him a different $20 million payday, with about one-quarter of the figure having derived from upfront compensation and the remaining 75 percent having come from merchandise sales.
It remains to be seen when similar opportunities will return at scale for Scott, but investors’ confidence in Live Nation doesn’t appear to have waned – despite the aforementioned Astroworld tragedy, lawsuits, and congressional investigation. Live Nation stock (NYSE: LYV) was worth $120.09 per share when the market closed today, a slight decrease from yesterday, but about $8 away from the stock’s record-high value.