Prehistoric ‘hashtag’ may be world’s oldest drawing: study

1 / 2
This undated photo provided by Magnus M. Haaland in September 2018 shows researchers in the interior of the Blombos Cave east of Cape Town, South Africa. (AP)
2 / 2
This undated photo provided by Craig Foster in September 2018 shows a drawing made with ochre pigment on silcrete stone, found in the Blombos Cave east of Cape Town, South Africa. (AP)
Updated 13 September 2018
0

Prehistoric ‘hashtag’ may be world’s oldest drawing: study

  • The design pre-dates previously identified abstract drawings from Africa, Europe and Southeast Asia by at least 30,000 years
  • It was found by researchers inside the Blombos Cave, around 300 kilometers (185 miles) east of Cape Town

PARIS: It may be a symbol of the Internet age but scientists in South Africa have found an ancient hashtag scrawled on a piece of rock that they believe is the world’s oldest “pencil” drawing.
The design, which archaeologists say was created around 73,000 years ago, pre-dates previously identified abstract drawings from Africa, Europe and Southeast Asia by at least 30,000 years.
It was found by researchers inside the Blombos Cave, around 300 kilometers (185 miles) east of Cape Town, a site that contains evidence of some of the earliest instances of what humans today would call culture.
Previous expeditions to the cave found shell beads, engraved pieces of ochre and even tools manufactured from a rudimentary cement-like substance.
Among the artefacts was a small flake of silicate rock, onto which a three-by-six line cross-hatched pattern had been intentionally drawn in red ochre.
“Our microscopic and chemical analyzes of the pattern confirm that red ochre pigment was intentionally applied to the flake with an ochre crayon,” the team wrote in a study published Wednesday in the journal Nature.
They said the pattern appearing on the fragment may have originally extended over a larger area and could have been “more complex in its entirety.”
Although there are far older known cave engravings, including one in Java that is at least half-a-million years old, the team of researchers said the Blombos Cave hashtag was the oldest known drawing.
“This reinforces the idea that drawing was something that existed in the minds of the hunter-gatherers,” Francesco d’Errico, a director of the National Center for Scientific Research at the University of Bordeaux, told AFP.
While drawings such as the one unearthed in South Africa undoubtedly had a “symbolic meaning” d’Errico said early humans “probably didn’t consider them as art.”


Michael Kors snaps up Italy’s Versace — sources

Updated 24 September 2018
0

Michael Kors snaps up Italy’s Versace — sources

  • Donatella Versace called staff meeting for Tuesday - source
  • Family to retain a role, Blackstone will fully exit - sources

LONDON: US fashion group Michael Kors Holdings Ltd. has agreed to take control of Italy’s Versace in a deal that could value the company at $2 billion, sources familiar with the matter said on Monday.
The deal comes as budding luxury conglomerates, including Michael Kors’ US rival Tapestry, owner of Coach and Kate Spade, are trying to make in-roads into an industry still dominated by major European players, including Louis Vuitton owner LVMH.
Michael Kors, whose namesake label is best known for its leather handbags, has made no secret of its ambition to grow its portfolio of high-end brands after swooping on British stiletto-heel maker Jimmy Choo for $1.2 billion last year.
Versace is one of a clutch of family-owned, independent Italian brands that have regularly been cited as attractive targets at a time when the luxury industry is riding high on strong demand from Chinese consumers.
But not all brands have benefited equally, with some struggling to refresh their image or products to capture a younger audience, and some fashion groups are looking to diversify with more labels to face such challenges.
The deal gives Michael Kors a mega-brand and red carpet favorite that is among the most recognizable and followed fashion labels in the world. Two of the three sources who spoke to Reuters said the company had agreed to pay a large premium for Versace, known for its Medusa head logo.
Michael Kors could not immediately be reached for comment. Versace declined to comment.
Donatella Versace, sister of late founder Gianni who doubles as artistic director and vice president of the Milan-based group, has called a staff meeting for Tuesday, according to a person who was briefed by a company employee.
The Italian fashion icon has been considering a market listing after US private equity group Blackstone bought a 20 percent stake back in 2014 to fund overseas expansion, although Chief Executive Jonathan Akeroyd told Reuters earlier this year there was no rush for a market debut.
After investing in Versace at a high multiple, Blackstone found the fashion group’s performance disappointing and not sufficient to justify a market listing, said one of the sources, who is close to the family.
“They gradually persuaded the family to look into a possible sale and introduced them to a series of buyers, including Michael Kors,” the person added.
“Blackstone wasn’t going to put any more money into it. They needed a buyer who could make heavy investments.”
“OVERPRICED“
French fashion houses including Paris-based Kering were among those holding talks with the Versace family, the sources said, but considered the price too expensive.
“They didn’t feel the need to invest so much money into another Italian fashion brand. It was overpriced,” the source said.
Kering declined to comment.
As part of the deal, Blackstone will fully exit the Italian company, while the Versace family, which owns the rest of the fashion house, will keep a role, the sources said.
Blackstone declined to comment.
An official announcement is expected this week, the sources said.
Versace does not disclose its financial details, but documents deposited with the Italian chamber of commerce show the Milan-based group last year posted sales of 668 million euros ($786 million) and earnings before interest, tax, depreciation and appreciation (EBITDA) of 44.6 million euros.
The group last year returned to a net profit of just under 15 million euros compared with a net loss of 7.9 million euros the previous year. ($1 = 0.8499 euros)