Weekly Consumer News Roundup // December 19, 2023

Here's our weekly roundup of recent consumer and retail news. This week, WeightWatchers launches  membership for Ozempic customers, Coupang acquires Farfetch, and more. 

WORDS FOR THE WEEK

For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram. 

M&A and INVESTMENTS

• Boots Owner In Talks to Offload £7 Billion UK Pharmacy Chain Bloomberg
• Chobani buys coffee roaster La Colombe for $900M Food Dive
• Coupang to Rescue Farfetch, Injecting $500 Million Into Troubled Firm WWD
• Unilever to sell Q-Tips maker Elida Beauty to Yellow Wood Reuters
• JVN Hair Sold at Auction WWD
• PE Firm MacArthur Beauty Acquires Uoma Beauty’s Assets BoF
• Sycamore Partners Exploring Bid For Macy’s SGB Media
• Amazon in Talks to Invest in Diamond Sports WSJ
• Rose Inc and Stripes Sold at Auction BoF
• Something Navy is reportedly being sold to IHL for $1 WWD

INDUSTRY NEWS

CPG

WeightWatchers launches a new membership for Ozempic customers

The “WeightWatchers GLP-1 Program” will give WeightWatchers members on semaglutide medications access to doctors who can prescribe these medications, as well as daily nutrition plans, insurance coordination, and other weight loss support programs. CNN

Why Tweens Can’t Live Without $62 Face Cream

Preteen girls are hooked on elaborate regimens, with lip masks, fruity mists and serums, to get ‘glowy skin.’ WSJ

How hand creams became the new status symbol

Dior, Chanel and Glossier are among the brands rethinking the classic skincare category by developing products that are more appealing, environmentally conscious and easy to use on the go. Vogue Business

RETAIL

Etsy Cuts 11% of Headcount as Competition From Shein and Temu Mounts

Etsy has seen revenue growth slow sharply over the past three years, as the pandemic’s e-commerce boom faded and customers flocked to sites offering cheaper alternatives. The Information

Long Island’s Out-of-the-ordinary New ‘Village’

Scott Malkin of Value Retail spells out the vision for Belmont Park Village, the 12th luxury outlet center in the company's portfolio and the first in North America. WWD

US retail sales rebound

Spending at US retailers rebounded in November after declining in the prior month, pointing to the continued resilience of the US consumer and a strong start to the holiday season. CNN

Fashion rental services are recalibrating their approaches in 2024

Fashion rental services are heading into 2024 with the goal of bringing more budget-cautious customers into the fold. ModernRetail

Eli Gindi Snags Tenants for Las Vegas Shopping Center Opening in 2025

The New York garmento turned real estate developer, whose family founded Century 21 department stores, believes mid-tier retail is alive and well in Las Vegas with the arrival of three sports teams and Formula 1 car racing. WWD

Zara Owner Wants to Sell More European Fashion in Middle America’s Malls

European clothing retailers Zara, Primark and Mango are making further inroads into the US interior via mall openings as they target areas with faster population growth than on the coasts. Bloomberg

Investor Appetite for Retail Real Estate Is Heating Up Again

Institutional buyers are snapping up grocery stores, pharmacies and other recession-resilient stores. WSJ

MEDIA & TECH

Pinterest will be a ‘crucial platform’ for luxury brands in 2024

As luxury brands become more strategic about their social media strategies and reprioritize resources, Pinterest is gaining new traction. Glossy

Retailers Enlist AI in Fight Against Returns

New AI tools can help retailers advertise more effectively by predicting the likelihood shoppers will return the products they buy. WSJ

RESTAURANTS & HOSPITALITY

Soho House has stopped accepting new members in some cities after getting too popular

The chain of private clubs aimed at creatives is halting the acceptance of new members in New York, Los Angeles and its city of origin, London. CNN

Cava’s Recipe for Success? Acquiring Other Chains to Expand

Cava has quickly grown to around 300 locations through an acquisition of another Mediterranean fast-casual restaurant chain. But can it continue to grow at a rapid pace when it has to start building new locations from scratch? WSJ

Fontainebleau Las Vegas Finally Opens After 16 Years

The Fontainebleau Las Vegas hosted a grand opening Wednesday night, completing years of development that have spanned more than 16 years. Retail Wire

COMINGS & GOINGS

• Chloé Names New CEO WWD
• Timberland Appoints Global Brand President SGB Media
• Tommy Hilfiger Taps Sophia Hwang-Judiesch as President, North America WWD
• P&G Appoints Ashley McEvoy to Board of Directors Happi
• Havaianas Brand Parent Alpargatas Taps Mondelēz International Exec as CEO SGB Media
• Gosha Rubchinskiy to Design Yeezy, Relaunch Namesake Label WWD
• HanesBrands Appoints Former Walmart U.S. CEO as Chairman SGB Media

GOOD READS 

• Is This How Amazon Ends? The Atlantic
  
• What Happens When the Travel Boom Ends? BoF
• Can Instagram Save the Department Store? The Information