🎙The Retail and product daily
Your daily resource for the retail, fashion and product business news and information. Three of the top retail, brand and fashion stories, about five minutes, every weekday. (3 - 5 - 5 ). We keep it short and insightful. Not every piece of news makes it in - only what's notable.
LVMH may be the bellwether for how unrest in Hong Kong will affect retailer results. Some estimate the protests could affect business of global brands by up to 2 percent this year. Fast Retailing reports strong results. Target leans into inclusive and adaptive kids wear, and partners with Disney, and Toys'R'Us.
Dick's Sporting Goods is weighing whether or not to make a strategic shift out of the gun business, after destroying $5 million in automatic weapons this last year. And teen spending is slowing, but footwear has peaked with Gen Z. And H&M buys Sellpy, a resale company, as it marches towards its goal of becoming a circular company.
Jetblack, the personal shopping service available to consumers via text, is losing $15,000 per member annually. But Walmart continues to invest in the company as an R&D expense as it looks to build its future capabilities. Target will have solar panels on more than a quarter of it's stores in a month. Shiseido acquires clean beauty and skincare Drunk Elephant, a brand that has grown to $100 million annually.
Marks & Spencer is consciously shifting its assortment to meet the market decline in suiting and changing menswear fashion preferences. Kardashian Kloset launches, and it's terribly done. Plant subscription services are launching across the globe - and doing well.
Google upgrades its shopping feature and Google Lens uses enhanced image recognition for better product recommendations. American Eagle Outfitters launches a genderless CBD beauty and wellness brand: Mood. And H&M delivered a great quarter, growing almost 20% in the US, and 30% in India.
Gap Inc wants to grow Hill City organically, and its developing its blueprint for incubating future businesses. Amazon will have grocery stores - separate from Whole Foods, by year's end. And Simon Property Group took a 50% stake in Gilt Groupe and launched ShopPremiumOutlets.com.
Grocery retailers are still relying on in-store pickup which is the wrong business to build out. They are leaving themselves open to new players in the delivery sphere. U.S. tariffs hit Britain's luxury market, and the timing couldn't be worse. Canadian altheisure brand RYU hosts pop-up brands in-store with Guesst.
There are three major reasons why Forever 21 went bankrupt - and it isn't because fast fashion is dead. A $500 a month membership for brands gives them access to an audience of stylists looking for product to pull. Levi's made big investments in the future with climate week announcements and in wearable technology.
The fragrance market's challenges and solutions, including distribution and finding the perfect "blend" of online and offline. Niche fragrance has the floorspace, but how will that affect distribution going forward? There are two good ways to do digital in-store: support online sales and make good offers for in-store shopping. A VidMob survey found that 1000 Instagram users purchased directly from the app. We tell you what drives the results.
Rent the Runway runs into trouble with it's supply chain and takes a breather until October 15. PayPal gets into the online purchase financing - offering 3 months to pay interest free, while merchants get paid upfront. And The Wall Street Journal tests "no-wash tees".
"Keeping labels out and inviting everyone in", Mattel, Barbie's maker, launches gender neutral inclusive dolls. StockX's co-founder Josh Luber talks supply and demand - and markdowns at WWD's Digital Forum, and Social Studies is the Rent the Runway of #tablescapes, and they are built to scale.
Nike, the athletic wear company, continues to drive significant increases in key businesses (international markets, ecommerce, and womenswear). Sephora expands its ingestible offering with Sakura Life. Australian company Designerex makes the luxury fashion rental market even more accessible to consumers.
Five trends brands and retailers can't ignore from packaging to playing the long-game. 7-Eleven is hosting their annual Brands with Heart event, inviting new companies to pitch to them for shelf space. Frank and Oak makes a legal commitment to their communities and environment, and achieves its B-Corp status.
KitKat goes luxury with new custom flavours, and a pop-up at John Lewis' London flagship. Amazon makes up a small percent of UPS and FedEx's business, but their logistics arm takes them on as competitors. American Eagle Outfitters is one mall brand that is doing well, with positive comp store sales driven by Aerie.
Spain is the second largest global exporter of fragrance, and an emblematic Spanish brand, Loewe's appeals to a diverse youthful audience. Print books also appeal to the under 45 crowd, and make up 87% of the total book sales in the US. And Revtown uses its Decades Denim to launch a womens collection.