Weekly News Update // October 25, 2022

Here's Traub's weekly roundup of recent consumer and retail news. This week, Amazon offers luxury, Disney launches Web3, RH is opening restaurants, and more.

 M&A and INVESTMENTS

• Natura Mulls US IPO, Spin-off of Luxury Aesop Brand BoF
• Nestlé to Acquire Seattle’s Best Coffee Brand From Starbucks WSJ
• Korean Luxury Platform Balaan Secures $17 Million in Series C Funding BoF
• Bucherer Acquires Leeds & Co., Adds Messika in Bid for U.S. Growth WWD 
• KKR Takes Minority Stake in SkinSpirit WWD
• Authentic Brands Group Finalizes Deal for Ted Baker WWD
  
• Mike Ashley’s Frasers Group Raises Stakes in Hugo Boss, Asos BoF
• Instacart Postpones IPO CNBC
• Bilt, Startup Turning Rent Into Points, Valued at $1.5 Billion Bloomberg

INDUSTRY NEWS

Retailers, Brands and Tech Platforms Bet Big on Live-Streamed Shopping in the U.S.

Despite becoming a major sales driver in China, live shopping has yet to break through in the West. But some predict that’s about to change. WSJ

Americans Cut Luxury Spending Ahead of Key Holiday Season

Americans have cut back on buying luxury goods like designer clothing and accessories over the past two months, according to data from three credit-card companies, raising questions over the sector’s resilience. BoF

Hasbro profit misses the mark as toy maker faces high inventory and inflation

Hasbro reported Q3 earnings that missed expectations and revenue that matched Wall Street projections. CNBC

Louis Vuitton, Chanel, Hermès Bags Hit Amazon Through Secondhand Distributor

Amazon has entered a partnership with What Goes Around Comes Around to sell pre-owned items from many of the luxury brands that declined to sell on the site. WWD

AI Is Designing Clothes Now

Companies are starting to pitch AI tools that can generate new clothing designs from something as simple as a text description. BoF

Circle K gas stations are adding a new product for convenient pickup – weed

Circle K, a Canadian convenience store and gas station operator, is teaming up with a leading cannabis packaged goods company, Green Thumb Industries, to sell marijuana at a limited number of locations in 2023. CNN

Netflix Wants You to Pay for Your Freeloading Friends

The streaming giant will start cracking down on password sharing in early 2023 by asking subscribers to add “extra members” to their plans. Vanity Fair

Lionel Messi Launches Investment Firm Targeting Sports and Tech

Soccer superstar Lionel Messi is creating a holding company to invest in sports, media and technology globally. Bloomberg 

What Simon Property Group’s latest move says about the future of malls

The giant shopping center REIT’s newly acquired 50% stake in mixed-use developer Jamestown suggests the traditional mall’s days are numbered. Retail Dive

Disney launches web3 experience to celebrate 100 years of Disney music

Disney collaborated with its Accelerator participant Obsess, an e-commerce platform known for creating interactive virtual storefronts, to release a new web3 experience for its Disney Music Emporium online store. TechCrunch

Zara Launches Repair, Resale in U.K.

As part of its 360-degree circularity and sustainability strategy, the fast-fashion brand is launching a three-pronged “Pre-Owned” pilot project. It aims to help customers repair, resell or recycle their clothing. WWD

Warby Parker, once online-only eyeglasses retailer, plans hundreds of more stores

The company is looking to open hundreds of stores in the next few years, according to co-CEO David Gilboa, but also sees a future tied to telemedicine. CNBC

Fashion Collabs Create Viral Moments for McDonald’s

The fast-food giant has teamed with Cactus Plant Flea Market, Eric Emanuel and other brands on special promotions. WWD

The Company Once Known as Restoration Hardware is Opening Restaurants. Why? 

The furnishings store has moved into the hospitality business -- but the food may not be the point. NYT

L’Oréal and Meta launch metaverse startup accelerator

L’Oréal, Meta and French business school HEC Paris are joining forces to launch a startup acceleration program dedicated to creativity in the metaverse. Vogue Business

Rising Shipping Costs Prompt Businesses to Get Creative With Deliveries

Rising shipping costs from UPS, FedEx, USPS are primed to squeeze profits for businesses of all sizes this holiday season, as business owners look to buy their own delivery vehicles. WSJ

Adidas Terminates Yeezy Partnership With Ye With Immediate Effect

The German sporting goods firm, which had come under growing pressure to renounce its seven-year partnership with the rapper; following in footsteps of Gap, Vogue and Balenciaga. WWD

COMINGS & GOINGS

• Peloton’s Chief People Officer Departs SGB Media
• Marc Jacobs Appoints Paul Brennan Managing Director EMEA Vogue Business 
• Sebastian Manes Steps Down from Selfridges, Heads to Chrome Hearts WWD
• Pilar Guzmán Named Editorial Director of Oprah Daily WWD
• Rodolphe Belmer Resigns From Netflix Board as French Business Exec Set to Join TF1 as CEO Variety
• Apple’s Industrial Design Chief Evans Hankey to Leave Bloomberg

GOOD READS

• Why Gen X Could Be Beauty’s Biggest Consumer Base WWD
  
• How to Plan Your Retail Footprint BoF