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Here's our weekly roundup of recent consumer and retail news. This week, Alo Yoga expands into Europe, Tesla moves forward with drive-in restaurant, and more.
WORDS FOR THE WEEK
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For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram.
M&A and INVESTMENTS
- Brazil’s Natura Sells The Body Shop to Aurelius in $254 Million Deal BoF
- PVH Selling Warners, Olga and True & Co. for $160 million WWD
- Investor Marc Lore’s Wonder Group closes its deal for meal kit service Blue Apron for $103 million Fortune
- Ahold Delhaize USA selling FreshDirect to Getir Grocery Dive
- Luxury design studio Vesta acquires furniture rental companies Fernish & Feather Modern Retail
- Sydell Group Weighs Sale of Boutique NoMad Hotels Brand Bloomberg
- General Atlantic takes controlling stake in Joe & the Juice Financial Times
INDUSTRY NEWS
CPG
Barbie who? Gen Alpha kids ‘obsessed’ with skin care could fuel holiday spending
In an age where TikTok and YouTube have replaced linear TV for America’s youngest consumers, kids are adopting skin-care routines like never before as they absorb content online. CNBC
Cookware brand Caraway is now selling all its products at The Container Store
Caraway’s full assortment — which includes pots, pans and bakeware — will now be available for purchase in about 80 The Container Store locations. Modern Retail
Pepsi Is On Its Way to Surpassing Coca-Cola’s Value Thanks to Snack Brands
PepsiCo Inc. is on course to take over as the biggest US beverage company by market value, supplanting rival Coca-Cola Co., which has held the spot largely uninterrupted for the better part of two decades. Yahoo
RETAIL
APL Invites Customers to Immerse Themselves in the Experience
The new SoHo flagship is only the second store for the Los Angeles-based luxury performance footwear brand. WWD
Target Tries to Find Its Mark After a Year of Misfires
The retail giant aims to move past its controversies and weaker performance by leaning into lower prices and products that drive traffic. WSJ
US retailers stuck with excess stock offer bargains as holiday season nears
As the holiday shopping season approaches, major U.S. retailers from Dollar General to Walmart and Macy's could be saddled with too much stock for a second straight year. Reuters
Alo Yoga takes on Europe, starting with the UK
LA-based activewear brand Alo Yoga lands in the UK this week as part of a major international retail expansion that will see it open a total of 100 stores across Europe, Asia and the US. Vogue Business
Toys R Us is opening in America’s biggest mall as part of its comeback
After disappearing from malls and shopping centers over the last few years, Toys 'R' Us is opening a new store at the Mall of America. CNN
MEDIA & TECH
Digital fashion is alive and well for Gen Z
A new report from Roblox finds that, just like in the physical world, Gen Z likes recognisable brand names and limited-edition items. The difference, for this generation, is that the digital counterparts are often more important. Vogue Business
Amazon Allies With Meta for Shopping Via Instagram, Facebook
Two of tech’s largest players, Amazon and Facebook parent Meta Platforms Inc., are testing a feature that lets shoppers buy Amazon products directly from ads on Instagram and Facebook. BoF
E.l.f. Launches Roblox Game Aimed Toward Entrepreneurial Consumers
"We didn't want to be a makeup company that came into the Roblox experience in a literal makeup way," said eGEN Sports cofounder Brad Timmins, who helped develop the game alongside Supersocial. WWD
How Shopify’s Celebrity Partnerships Are Changing E-Commerce
Drake, Bad Bunny, MrBeast and Taylor Swift have been using Shopify stores and the Shopify app to redefine retail. Forbes
Amazon cuts games unit jobs in broader restructuring
Amazon.com has cut around 180 jobs in its games division, at least the second round of layoffs in under a week by the online retailer and digital streaming provider in a broader restructuring. Reuters
J. Crew unveils holiday-themed virtual store
Appearing as a snow lodge for women’s apparel and a ski chalet for men’s, the experience includes a scavenger hunt and an AI holiday card generator. Retail Dive
RESTAURANTS & HOSPITALITY
Burger King closes 6 more restaurants amid plan to shut down up to 400 locations this year
Burger King plans to close up to 400 stores this year. More closures reported in Jacksonville, Florida, Long Island, New York, and Lincoln, Nebraska. Business Insider
RH Champagne & Caviar Bar Opens in New York
The newest edition to New York's caviar scene comes from the RH team in their first of several planned bars. WWD
Chipotle Founder Is Opening Robot Restaurants With Meat-Free Food
Steve Ells, Chipotle's founder and ex-CEO, is set to launch a new venture named Kernel in early 2024. Retail Wire
McDonald’s and Krispy Kreme are in talks to expand partnership
The two restaurant companies started working together more than a year ago to serve Krispy Kreme doughnuts at McDonald’s restaurants. CNBC
Tesla's drive-in restaurant is finally taking shape
Tesla is rapidly constructing a planned 1950s-style diner and drive-in movie theater in Hollywood that will also be a Supercharger station with 32 charging stalls. Axios
COMINGS & GOINGS
- Lea Rytz Goldman Named Tommy Hilfiger Global Brand President WWD
- Veronica Beard Taps Vincent Zanna as CFO WWD
- Stitch Fix hires former Amazon Fashion exec as chief product and technology officer Retail Dive
- Timberland President Susie Mulder Is Exiting the Brand WWD
- Former Harrods Fashion Director Lydia King Joins Liberty as Interim Buying Director WWD
- Kohl's board chair Peter Boneparth to retire Seeking Alpha
- Nike Hires Amazon Fashion Executive as New Tech Chief Bloomberg
- Insider Co-Founder Henry Blodget Steps Down as CEO Amid Strategy Shift WSJ
- LVMH-owned cosmetics brand Fresh names Ada Lien as CEO Fashion Network
GOOD READS
