Traub Weekly News Roundup // July 18, 2023

Here's our weekly roundup of recent consumer and retail news. This week, Babies“R”Us returns, DTC beverage startups like Sanzo & Poppi are sponsoring pickleball leagues, and more. 

WORDS FOR THE WEEK

M&A and INVESTMENTS

• French Billionaire Pinault Is in Talks to Buy CAA Talent Agency in $7 Billion Deal Bloomberg
• Wellington in talks to invest in Kim Kardashian's Skims at $4 billion valuation Reuters
• Il Makiage parent company Oddity aims for increased $1.92B valuation in IPO Reuters
• Cristiano Ronaldo Is Now an Investor in Billion-Dollar Watch Marketplace Chrono24 Yahoo
• Benihana's owner explores sale of restaurant chain for $600M Reuters
• Infant formula company Bobbie takes in $70M to acquire Nature’s One TechCrunch
• Subway reportedly failed to get a $10 billion bid Business Insider
• Liquid Death Hires Goldman Sachs, Aiming for 2024 IPO The Information

INDUSTRY NEWS

CPG

After a massive recall, The Laundress is set to relaunch

The Laundress is ready to sell products again more than six months after a widespread voluntary recall. The brand is coming back to the market with a new manufacturer, modified formulas and pharmaceutical-grade production guidelines. Modern Retail

DTC beverage startups like Sanzo & Poppi are sponsoring pickleball leagues

The paddle sport, where players hit the whiffle ball back to the opposing team’s side of the court much like tennis or ping-pong, has caught the attention of startups looking to leverage the growing attention Pickleball has been getting. Modern Retail

Back-to-school spending is forecast to drop 10% as inflation bites

Shopping for back-to-school essentials, such as clothes, shoes and electronics, will be a bigger struggle for families this year who are trying to manage their household budgets with less disposable incomes because of inflation. CNN

As competition stiffens, Claire’s unveils rebranded piercing studio Pierced

Claire’s has been in the business of ear piercing for 40 years. But as more competitors enter the market, it’s rebranding the service for the first time in its history. Modern Retail

Furby Return Sends Fans Into Frenzy As Nostaligia Dominates Toy Sales

The retro toy craze has officially become a Furb-nomenon, with two of the 1990s top-selling toys to officially launch July 15 as eBay reports surging vintage sales. Forbes

Consumer sentiment highest since '21

US consumer sentiment soared in early July to an almost two-year high, bolstered by easing inflation and a strong labor market. Bloomberg

Babies R Us Set To Arrive As Rival Buy Buy Baby Stores Bid Farewell

Reborn retailer slated to return with US flagship at American Dream Mall. CoStar

RETAIL

Shein is trying to broaden its appeal by luring luxury brands like Stuart Weitzman and Paul Smith to sell products on its marketplace

Chinese-owned fast-fashion giant Shein is stepping out into the wider world of e-commerce with a new third-party marketplace feature, and it's offering booming businesses big incentives to sell their items on its site. Business Insider

US e-commerce sales to exceed $1.1 trillion in 2023

Forecasting further growth in e-commerce, a new FTI Consulting report predicts that U.S. online retail sales will reach $1.14 trillion this year, up 10% year over year. FTI Consulting’s 2023 U.S. Online Retail Report projects that nearly half (42%) of retail sales growth this year will be e-commerce. Retail Dive

Store Traffic Gains Cooling Across Downtown America

Springboard's latest report predicts downtown store traffic won't return to pre-pandemic levels. WWD

Banana Republic Wants to Outfit Your Home, Too

Responding to a volatile market for work clothes, the retailer hopes that selling home goods will help stabilize its business. NYT

Why Kohl’s Has Big Plans For Small Sephora Units

All 1,100 Kohl’s stores will have Sephora beauty departments by the end of 2025. Forbes

Amazon Prime Day Leads Biggest Online Shopping Days Ever, Up 6%

Amazon announced the company had its biggest Prime Day event ever, driving consumers to spend online across all retailers. Forbes

Vuori continues its massive retail expansion as it targets around 25 new stores a year

While Vuori has a robust e-commerce presence, physical retail is “a very fast-growing channel” for the brand. We’re really focused on maintaining quality and really smart, paced growth in terms of our real estate decisions, our store locations, our teams." Modern Retail

Shoppers Increased Retail Spending in June

Retail sales—a measure of spending at stores, online and in restaurants—rose a seasonally adjusted 0.2% last month from the month before. WSJ

TECH

TikTok content to be featured on 3K+ Redbox kiosks

Redbox, the operator of DVD rental kiosks, today announced a new deal with TikTok that allows the company to feature popular content from the short-form video app on more than 3,000 Redbox kiosks nationwide. TechCrunch

RESTAURANTS & HOSPITALITY

Meet Autocado, Chipotle’s New Robot to Make Guacamole Faster

Chipotle has unveiled a new avocado processing cobotic (collaborative robot) prototype called Autocado that cuts, cores, and peels avocados before they are hand mashed to create the restaurant’s signature guacamole. Bloomberg

Domino's to allow food orders through Uber's delivery apps

Domino's Pizza customers can order its products through Uber's Uber Eats and Postmates apps, the pizza chain said on Wednesday, in a bid to boost sales amid a slowing delivery business. Reuters

'Ghost' menu massacre: Virtual brands face a reckoning as Uber Eats slashes 8,000 from its app

Uber Eats cuts 8,000 virtual brands from its app after rolling out strict quality-control requirements. Business Insider

America’s Foreign Vacations Tell Us Something About the U.S. Economy

Prices are high, but Americans are opening their wallets for international flights and hotels. It’s the latest evidence of consumer resilience. NYT

Chipotle Is Bringing Its Burritos to Small Town U.S.A.

Fast-casual Mexican chain plans to build hundreds of locations in smaller markets as part of growth strategy. WSJ

COMINGS & GOINGS

• Designer Brands names DSW president Retail Dive
• Stoli Group appoints new CEO, announces leadership changes FoodBev
• Marcus Wainwright to Step Down From Rag & Bone WWD
• Disney Extends CEO Robert Iger’s Contract Through 2026 WSJ
• Target names Lisa Roath chief marketing officer Fashion Network
• Lelio Gavazza Named Tom Ford Fashion CEO WWD
• Marco Bizzarri Is Exiting Gucci WWD

GOOD READS

• What If the Next Big Social Media App Is ... Nothing? Bloomberg
• What’s a zillennial, and why should you care? Retail Brew