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Weekly News Update // Week of July 22, 2019

By TRAUB

Here's TRAUB's roundup of recent retail news. Henkel takes majority stake in ESalon, Outdoor Voices launches storytelling platform, the 1972 Nike "Moon Shoe" hits record auction price for sneakers and more! 


 M&A and INVESTMENTS

  • Henkel Buys 51% of ESalon, a custom hair color business WWD
  • Etsy to acquire music gear marketplace Reverb for $275M Retail Dive
  • Coca-Cola invests $20M in Health-Ade Kombucha Food Dive
  • Oat bar maker Bobo's raises $5.5M to double capacity Food Dive
  • VMG takes minority stake in prestige hair-care Briogeo WWD
  • Vera Bradley acquires a majority stake in online jewelry store Pura Vida Bracelets CNBC
  • EBay buys minority stake in Paytm Mall Retail Dive

INDUSTRY NEWS 

Barneys Scrambles for Financing, Bankruptcy Seen Nearer

The delicate dance between Barneys New York and its bankers has become a sprint for cover. Barneys secured additional funding from its lead lender, Wells Fargo, this spring to help cover rent at the Madison Avenue flagship, which jumped dramatically to $30 million from $16 million. But when the tony retailer still didn’t have enough to make ends meet and returned to the bank recently to ask for the money needed to go through the bankruptcy process, Wells Fargo is said to have passed. WWD

 

outdoorv

 

Outdoor Voices Launches Storytelling, Marketing Platform 'The Recreationist'

Active clothing line Outdoor Voices is launching a new storytelling and marketing platform with a seasonal zine component called The Recreationist. The Recreationist features a collection of curated content, including product recommendations, playlists, city guides and profiles, marked by a focus on community, culture and recreation.  The first issue of the zine includes an interview with illustrator, animator and curator Joey Yu, a meditation on Angela Lansbury’s exercise VHS tape and the book Positive Moves, a city guide to Austin, Texas, and a piece about CliniqueFIT Workout 24-Hour Mascara. Each issue will also include an in-depth profile and dedicated photo shoot and video of an inspiring person, called “Doing Things With,” and a feature called “Take Ten,” in which editors ask a subject 10 questions across a variety of topics. Media Post

 

nike-7

 

Nike shoes race to $437,500 world record auction price for sneakers

A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 on Tuesday, shattering the record for a pair of sneakers at public auction. The so-called Nike “Moon Shoe,” designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby’s auction house in New York. Sotheby’s said the price was a world auction record for a pair of sneakers. The buyer was Canadian investor and car collector Miles Nadal, who had previously paid $850,000 for 99 other pairs of rare or limited collection sneakers offered by Sotheby’s. The highest previous price fetched at public auction for sneakers was $190,373 in California in 2017 for a pair of signed Converse shoes said to have been worn by Michael Jordan in the 1984 Olympic basketball final, Sotheby’s said.  Reuters

 

thirdlove

 

A Look Inside ThirdLove’s First Brick-and-Mortar Shop

The San Francisco-based lingerie start-up’s first brick-and-mortar shop opens in New York’s SoHo neighborhood on Wednesday. But cofounders Heidi Zak and David Spector were onsite earlier in the week for a quick tour, even allowing a few eager shoppers in for a first look. The digitally native brand has made a name for itself as the bra business for every woman. Now ThirdLove is moving into the physical space, promising to deliver a whole new type of shopping experience. One that includes adjustable lighting, digital measuring systems, three different types of dressing rooms and 78 bra sizes to choose from. WWD

 

Caleres to produce Veronica Beard footwear

Footwear industry leader Caleres and American ready-to-wear brand Veronica Beard have announced an exclusive partnership. Caleres will produce the Veronica Beard women’s footwear collection, beginning with the spring 2020 season. Caleres is the home of leader footwear brands and represents a diverse portfolio spanning all of life’s styles and experiences. Fibre2Fashion

 

QVC Pulls Beauty iQ Off-Air, Makes Subscription Box the Next Millennial Play

QVC is making some updates to its Millennial strategy. Most notably, the multiplatform retailer in April quietly pulled the Beauty iQ channel from cable networks in favor of shifting focus to its digital and app presence. Also, during its Black Friday in July digital event today, QVC will launch a subscription beauty box — the Try It Love It, or TILI, box — that will be promoted by influencers. WWD

 


COMINGS & GOINGS 

  • Head of Gap's Athleta Nancy Green takes on exec role at Old Navy Retail Dive
  • Best Buy taps new CFO from within Retail Dive
  • EBay announces Mazen Rawashdeh new technology chief Retail Dive

GOOD READS

  • How Fashion Brands Strike Gold Outside NY and LA BoF
  • Contact Lens Start-Up, Big on Social Media, May Be Bad for Eyes, Doctors Say NY Times
  • b8ta Drives New Approach to In-Store Product Innovation US Chamber of Commerce
  • Peak startup culture is here—and it draws blood Fast Company 
  • Rent the Runway Is Growing Fast, and Struggling to Keep Up WSJ

Tags: News

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