--- title: Traub Weekly Consumer News // October 24, 2023 description: Here's our weekly roundup of recent consumer and retail news. This week, Macy's launches digital fashion platform, Goop announces an accessibly priced beauty and wellness line, and more.  image: https://wwd.com/wp-content/uploads/2023/10/Macys-mstylelab_Journee-fashion-metaverse_On-34th_Hero-Outfit-2.jpg?w=1000&h=563&crop=1 --- [![logo-vert-traub (2)](https://blog.traub.io/hs-fs/hubfs/TRAUB_September2019/Image/logo-vert-traub%20(2).png?width=456&height=312&name=logo-vert-traub%20(2).png "logo-vert-traub (2)")](http://traub.io/) - [Who We Are](https://www.traub.io/who-we-are/) - [What We Do](https://www.traub.io/what-we-do/) - [Meet Our Team](https://www.traub.io/our-team/) - [See Our Work](https://www.traub.io/case-studies/) - [Read Our Content](https://www.traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) # Traub Weekly News Roundup // October 24, 2023 By [TRAUB](https://blog.traub.io/blog/author/traub) On October 24, 2023 [![Share on facebook](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/facebook-color.png?width=24&name=facebook-color.png)](https://blog.traub.io/blog/linkedin.com/company/traub-consulting) [![Share on linkedin](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/linkedin-color.png?width=24&name=linkedin-color.png)](https://www.linkedin.com/company/traub-consulting/) [![Share on email](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/email-color.png?width=24&name=email-color.png)](mailto:info@traub.io) Here's our weekly roundup of recent consumer and retail news. This week, Macy's launches digital fashion platform, Goop announces an accessibly priced beauty and wellness line, and more.  --- **WORDS FOR THE WEEK** ![IMG_6781](https://blog.traub.io/hs-fs/hubfs/IMG_6781.jpg?width=320&height=328&name=IMG_6781.jpg) For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram.    **M&A and INVESTMENTS** - Campbell's closing of $2.33 billion Sovos deal pushed to 2024 [Reuters](https://www.reuters.com/article/sovos-brands-ma-campbell-soup/campbells-closing-of-2-33-bln-sovos-deal-pushed-to-2024-idUSL4N3BT42W?utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=bitcoin-is-back-on-the-menu) - P&G to Weigh **$1 Billion** Sale of **VS Sassoon**’s China Business [Bloomberg](https://www.bloomberg.com/news/articles/2023-10-18/p-g-said-to-weigh-1-billion-sale-of-vs-sassoon-s-china-business?srnd=deals&leadSource=uverify%20wall#xj4y7vzkg) - Kurt Geiger owner mulls £400m sale [Drapers](https://www.drapersonline.com/news/kurt-geiger-mulls-400m-sale) - Steve Madden Buys Almost Famous in $52 Million Deal[WWD](https://wwd.com/business-news/financial/steve-madden-buys-almost-famous-52-million-ceo-rosenfeld-1235886354/) - Automattic acquires Texts, a universal messaging app for $50M [The Verge](https://www.theverge.com/2023/10/24/23928685/automattic-texts-acquisition-universal-messaging) - JM Smucker selling 4 condiment brands to TreeHouse Foods for $20M [Food Dive](https://www.fooddive.com/news/jm-smucker-acquisitions-treehouse-Hostess/696934/) - **GameSquare** is acquiring peer **Faze Holdings**, an esports company once worth $1B, for an estimated $17M [Reuters](https://www.reuters.com/markets/deals/esports-group-faze-clan-bought-by-jerry-jones-backed-gamesquare-2023-10-20/?utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=big-tech-earnings-on-deck) - Farfetch to Sell Violet Grey [BoF](https://www.businessoffashion.com/news/beauty/farfetch-to-sell-violet-grey/) - Ferrara to purchase candy maker Jelly Belly for undisclosed amount [Food Dive](https://www.fooddive.com/news/ferrara-to-purchase-candy-maker-jelly-belly-for-undisclosed-amount/697006/) - Farfetch’s Acquisition of Yoox Net-a-Porter Stake Gets EU Approval [BoF](https://www.businessoffashion.com/articles/retail/farfetch-acquisition-yoox-net-a-porter-stake-e-commerce-approved-european-commission-antitrust-regulators/?utm_source=newsletter_breakingnews&utm_medium=email&utm_campaign=Breaking_News_231023&utm_term=SHMRIAJX3JAQ3F5RQ5VUXZIBQQ&utm_content=top_story_title)   ## **INDUSTRY NEWS** **CPG** Coca-Cola Company and Pernod Ricard partner on Absolut Vodka with Sprite The pre-mixed cocktail will be available in regular and Zero Sugar, with the initial launch planned for select European countries in early 2024. [Food Dive](https://www.fooddive.com/news/coca-cola-company-and-pernod-ricard-partner-on-absolut-vodka-with-sprite-molson-coors/696697/)   Those Doritos Too Expensive? More Stores Offer Their Own Alternatives. Retailers are expanding their own private-label food and beverage offerings, attracting customers looking for less expensive options. [NYT](https://www.nytimes.com/2023/10/17/business/private-label-food-groceries.html)   Goop Launches Mass Market Beauty and Wellness Brand Gwyneth Paltrow’s lifestyle label is introducing an accessibly priced beauty line at Target and Amazon. [WWD](https://www.businessoffashion.com/articles/beauty/goop-wellness-gwyneth-paltrow-skin-care-body-care-supplements-clean-beauty/)   ![](https://images.wsj.net/im-866800/?width=2000&size=2) Who Counts as a Disaster Prepper These Days? Lots of Us More people are prepping for a few weeks of flood, fire or other urgent situations by buying supplies to get them through. [WSJ](https://www.wsj.com/business/retail/emergency-preppers-disaster-kits-go-bags-9db4a9cf?mod=business_lead_pos1)   How toy and game companies are winning back their grown-up former customers Adults are increasingly shelling out for relics of their youth and for items, ranging from flip phones to film cameras to Tamagotchis, that evoke a late 20th-century or turn-of-the century nostalgia. That demand has created a treasure-trove of sales in particular for toys and products. [CNN](https://www.cnn.com/2023/10/21/business/adults-buying-toys-nostalgia/index.html)   Food Is on Sale Again. You Might Still Have Sticker Shock. U.S. food giants are back to pitching deals as consumers balk at high prices. [WSJ](https://www.wsj.com/business/retail/food-is-on-sale-again-you-might-still-have-sticker-shock-fea92d17?mod=business_feat2_retail_pos1)   How Gen Z’s ‘promiscuous’ relationship to beverages is changing the industry As alcohol moderation rises, a desire for drinks to fit a multitude of occasions drive the generation’s purchases, according to experts. [Food Dive](https://www.fooddive.com/news/gen-z-alcohol-consumers-nonalcoholic-damp-drinking-less-mocktails-RTD-coors/696996/)   Celebrity-Backed Baby Brand Hello Bello Files for Bankruptcy Baby products company Hello Bello, founded by actress Kristen Bell and actor Dax Shepard, filed for bankruptcy after it struggled to overcome high shipping and production costs. [Bloomberg](https://www.bloomberg.com/news/articles/2023-10-23/celebrity-backed-diaper-brand-hello-bello-files-for-bankruptcy?leadSource=uverify+wall&utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=bitcoin-is-back-on-the-menu#xj4y7vzkg)     **RETAIL** Walmart beefs up its third-party marketplace as it challenges bigger online rival Amazon Walmart is banking on its third-party online marketplace to boost holiday sales. Online sales for Walmart U.S. rose sharply recently, while other major retailers such as Macy’s and Target reported declines. [CNBC](https://www.cnbc.com/2023/10/18/walmart-beefs-up-online-marketplace-in-amazon-challenge.html)   HomeGoods Abruptly Closes Online Store, Focusing on Brick-and-Mortar Expansion HomeGoods, owned by TJX Companies, has announced the sudden closure of its online shopping platform, effective Oct. 21. [Business Insider](https://www.businessinsider.com/homegoods-shuts-online-shopping-store-tjx-gift-cards-10-2023)   Barnes & Noble Sets Itself Free As the bookstore chain mounts a comeback, it’s breaking a cardinal rule of corporate branding and store design: consistency. [NYT](https://www.nytimes.com/2023/10/17/style/barnes-noble-redesign.html)   Rite Aid to Close 154 Stores Nationwide in Chapter 11 Restructuring This move is part of a broader strategy as Rite Aid adapts to evolving business conditions and aims to enhance store performance. [Business Insider](https://www.businessinsider.com/rite-aid-bankruptcy-closing-stores-2023-10)   Americans are planning to spend way more on holiday shopping this year Over one in five Americans are planning to spend over $1,000 on holiday shopping this year, exceeding last year's holiday spending. [Business Insider](https://www.businessinsider.com/holiday-christmas-shopping-americans-spending-more-gifts-this-year-2023-10)   How Walmart became America’s largest grocer The Arkansas-based retailer is America’s largest grocer, more than twice the size of its next-biggest competitor as it takes in more than one in four grocery dollars in the U.S., according to KeyBanc Capital Markets. [CNBC](https://www.cnbc.com/2023/10/22/how-walmart-became-americas-largest-grocer.html)   Kim Kardashian is making Skims for men The four-year-old shapewear brand is expanding beyond female clothing and into men’s products, with a new lineup launching Thursday that includes briefs, undershirts, boxers and leggings.[CNN](https://www.cnn.com/2023/10/23/business/kardashian-skims-men-underwear-launch/index.html)   Costume obsession fuels record Halloween spending Total Halloween spending is projected to reach $12.2 billion up from last year's $10.6 billion record. [Axios](https://www.axios.com/2023/10/19/halloween-costumes-2023-candy-spending)   How Nike Fell Behind in the Innovation Race The sneaker company faces stiffer competition in the running and lifestyle categories; ‘We need to raise our game’. [WSJ](https://www.wsj.com/business/retail/how-nike-fell-behind-in-the-innovation-race-83944224?mod=business_feat2_retail_pos2)   How retail brands are trying to cash in on ‘funflation’ While eight of 10 customers are cutting back on spending, 70% still say they will spend the same on events this year as opposed to last. [Modern Retail](https://www.modernretail.co/marketing/how-retail-brands-are-trying-to-cash-in-on-funflation/)     **MEDIA & TECH** Entrupy Becomes an Official TikTok Shop Authenticator The AI-powered technology will authenticate pre-owned luxury handbags for TikTok shop in the U.S. [WWD](https://wwd.com/business-news/technology/entrupy-official-tiktok-shop-authenticator-1235878727/) Why beauty brands are experimenting with Roblox' Roblox has captured the attention of traditional beauty brands that want to engage with a younger demographic. [Modern Retail](https://www.modernretail.co/technology/why-beauty-brands-are-experimenting-with-roblox/)   Amazon Confronts a New Rival: TikTok In the emerging business of ‘social shopping,’ TikTok dominates the social and is spending big to improve the selling. Amazon dominates selling, and is working on the social. [WSJ](https://www.wsj.com/tech/amazon-tiktok-online-shopping-rivals-5bf902c2)   ![Macy's new "mstylelab" digital fashion platform for immersive experiences.](https://wwd.com/wp-content/uploads/2023/10/Macys-mstylelab_Journee-fashion-metaverse_On-34th_Hero-Outfit-2.jpg?w=1000&h=563&crop=1) Macy’s Launches ‘Mstylelab’ Digital Fashion Platform The big retailer seeks to engage existing shoppers and hopefully new ones in a different, technology driven way. [WWD](https://wwd.com/business-news/technology/macys-introduces-mstylelab-digital-fashion-platform-1235881567/) Netflix Plans Price Increase as Password-Sharing Crackdown Boosts Subscriber Growth Netflix is raising the price of its basic plan in the U.S. to $11.99 and its premium plan to $22.99. The news comes after Netflix added 8.8 million subscribers in the third quarter. [WSJ](https://www.wsj.com/business/earnings/netflix-nflx-q3-earnings-report-2023-565748d5?mod=hp_lead_pos1)   On TikTok Shop, Any Beauty Product Can Be a Viral Star The platform’s freewheeling approach to e-commerce has opened the floodgates for established labels, grey-market sellers and influencers to entice beauty shoppers to buy. But with little oversight over fake product listings, brands must negotiate how much control they want to give over to the app. [BoF](https://www.businessoffashion.com/articles/beauty/tiktok-shop-beauty-e-commerce-social-commerce-influencers-grey-market/)   Amazon adds social shopping features, including a way to ask friends for product feedback Amazon is launching a social shopping feature that will allow consumers to ask trusted friends for advice while they shop online through the app. The feature, dubbed “Consult-a-Friend,” lets shoppers send a message to people whose advice they want to receive. [TechCrunch](https://techcrunch.com/2023/10/19/amazon-adds-social-shopping-features-including-a-way-to-ask-friends-for-product-feedback/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAAEM5jvkVzV1P4hDTotMgkHDz4lw_pYKNCQQ3pgAQGk5pfkbe-tvhlLBtDU_WbEmh75AvVLnKtIEuZbLYlD8pkRJC7MBDVyBYgQYpPVnnB8HvKouiJvOndhxfptD4ndFyJ0PBAsyqnGycrmXAjews1V2eCfl7bx8wjUjSiv7x81O)   H&M Group Is Using AI to Let Anyone Design Merch Creator Studio, a platform for producing merch on demand from H&M Group, is using generative AI to try to make it so anyone can make and print professional-looking designs to order, no artistic ability required. [BoF](https://www.businessoffashion.com/articles/technology/hm-group-is-using-ai/)     **RESTAURANTS & HOSPITALITY** It’s Getting Too Expensive to Have Fun Prices for concert tickets and amusement-park entries have ballooned. [WSJ](https://www.wsj.com/economy/consumers/its-getting-too-expensive-to-have-fun-a59e9df8?cx_testId=3&cx_testVariant=cx_170&cx_artPos=4&mod=WTRN#cxrecs_s)   Pret A Manger Aims For A Bigger Bite Of The U.S. Sandwich Market U.K.-based fresh sandwich and coffee chain Pret A Manger is to triple its U.S. footprint over the next five years as part of a deal with franchisee Dallas International.[Forbes](https://www.forbes.com/sites/markfaithfull/2023/10/23/pret-a-manger-aims-for-a-bigger-bite-of-the-us-sandwich-market/?sh=4ea092755638)   Food Halls, a Hot Real-Estate Investment, Conquer the Suburbs Explosion of variety-filled, modern food courts follows pandemic’s city exodus. [WSJ](https://www.wsj.com/real-estate/commercial/food-halls-a-hot-real-estate-investment-conquer-the-suburbs-d89f3608?st)     COMINGS & GOINGS - Tupperware appointed Laurie Ann Goldman as its new CEO [CNBC](https://www.cnbc.com/2023/10/17/tupperware-replaces-ceo-shares-surge.html) - Costco’s longtime CEO Craig Jelinek steps down, Ron Vachris to step up [CNN](https://www.cnn.com/2023/10/18/business/costco-ceo-steps-down/index.html) - Durand Guion Joins Burlington Stores as Senior Vice President [WWD](https://wwd.com/menswear-news/mens-retail-business/durand-guion-burlington-stores-fashion-1235884933/) - Puma Hires A$AP Rocky as Creative Director of Formula 1 Partnership [BoF](https://businessoffashion.com/articles/retail/formula-one-asap-rocky-puma-creative-director/)   GOOD READS - Are Too Many Retail CEOs Too Old? [Forbes](https://www.forbes.com/sites/walterloeb/2023/10/20/are-too-many-retail-ceos-too-old/?sh=25e0a5e01e19) - Welcome to the age of the hermit consumer [The Economist](https://www.economist.com/finance-and-economics/2023/10/22/welcome-to-the-age-of-the-hermit-consumer) - Investment Bankers on the Future of Fashion Dealmaking [WWD](https://wwd.com/business-news/financial/fashion-investment-bankers-dealmaking-future-goldman-1235884628/) ### Subscribe Here! 477 Madison Avenue, 18th Floor New York, NY 10022 (646) 723-2990 [info@traub.io](mailto:info@traub.io) ![TRAUB](https://blog.traub.io/hubfs/TRAUB_September2019/Image/traub-logo.png) - [Who We Are](http://traub.io/who-we-are/) - [What We Do](http://traub.io/what-we-do/) - [Meet Our Team](http://traub.io/our-team/) - [See Our Work](http://traub.io/case-studies/) - [Read Our Content](http://traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) Traub © 2023