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Here's our weekly roundup of recent consumer and retail news. This week, Mytheresa and J.Crew launch apps for the Apple Vision Pro, Walmart plans to open 150 large-format stores, and more.
WORDS FOR THE WEEK
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M&A and INVESTMENTS
- Allen Media Group Makes $14.3 Billion Offer for Paramount Global WSJ
- Unilever Ventures leads $6 million series A investment in Perelel Health vitamin company Glossy
- Manzanita Capital Acquires D.S. & Durga WWD
- Amazon aggregator Forum Brands acquires organic period care brand Lola Modern Retail
- Yeti Holdings to Acquire Mystery Ranch SGB Media
- Marcolin prepares for sale as PAI Partners looks to exit Reuters
- Jackson Hole Mountain Resort Sold to Local Investors SGB Media
- Alibaba considers sale of consumer assets including Freshippo, RT-Mart Reuters
- Blackstone Said to Consider Bid for Skincare Company L’Occitane BoF
- Adam Neumann is trying to buy bankrupt WeWork CNBC
INDUSTRY NEWS
CPG
Drugs like Ozempic may transform industries we're not even thinking about
As weight loss drugs like Ozempic continue to rise in popularity, economists are looking at their potential to disrupt the market. CNN
Robert Downey Jr and CPG exec enter $28B coffee category with Happy
The growing popularity of the beverage has brought smaller players into the space and prompted large manufacturers to bulk up their presence through acquisitions. Food Dive
Cannabis beverage brands capitalized on Dry January interest
One of the biggest selling points of cannabis-infused drinks is that they allow people to socialize with a drink in hand while they’re abstaining from alcohol. Modern Retail
Activist pushes Mattel to fix American Girl, Fisher-Price brands or sell them off
Activist investor Barington Capital is pushing Mattel to consider selling off its American Girl and Fisher-Price brands, citing underperformance within the divisions. CNBC
The Hottest Beer in America Doesn’t Have Alcohol
Founded by a hedge-fund trader and a brewer, Athletic Brewing has become the king of nonalcoholic beers. So what’s all the buzz about? WSJ
Estee Lauder to cut jobs on skittish China demand; shares surge 19%
Estee Lauder opens new tab plans to cut 3% to 5% of its global workforce as the cosmetics giant expands an effort to shore up margins squeezed by Chinese customers cutting back on higher-priced luxury products, sending its shares up as much as 19%. Reuters
Kraft Heinz debuts first major innovations to Crystal Light in more than 10 years
The CPG giant is launching Mixology, Immunity and Energy offerings tailored to consumer needs while redesigning the drink mix’s logo and packaging to help it stand out on shelves. Food Dive
How Much for Thin Mints? Some Girl Scouts Raise Cookie Prices.
While an increase in cost in parts of the country may surprise some cookie buyers, “Girl Scouts are not immune to the rising costs of life,” one leader said. NYT
Razor maker Billie moves beyond shave with 15 new products
A lineup of 15 new products across body wash, body lotion, and deodorant—the brand’s first major moves outside of the shave category—hits shelves at Walmart nationwide today. Retail Brew
RETAIL
Walmart plans to add more than 150 large-format stores across the U.S.
Walmart is planning to open more than 150 of its large-format stores over the next five years. CNBC
2024 Valentine’s Day consumer trends
Overall, consumers plan to spend $25.8 billion on Valentine’s Day this year — an average of $185.81 per person, according to the annual survey by NRF and Prosper Insights & Analytics. NRF
New Macy’s CEO Tony Spring looks to revive a 166-year-old retailer fighting for relevance
His push to revive the retailer will depend in no small part on his ability to curate strong brands and store designs — and let the products win over shoppers. CNBC
Gen Alpha is Coming To Change the Face of Retail
These tweens are set to have the biggest spending power in history. Here's how brands can start preparing for their rise in a changing world. Fashionista
MEDIA & TECH
TikTok Just Lost a Huge Catalog of Music. What Happened?
Universal Music Group, the biggest of the three major conglomerates, pulled songs by Taylor Swift, Drake and other stars after failing to agree on a new contract. NYT
Mytheresa, J.Crew Set AR and VR Alternative Shopping Experience Via Apple Vision Pro
Luxury website Mytheresa and J.Crew are among the first e-commerce fashion websites to provide visionOS apps for the Apple Vision Pro. WWD
Snap is latest tech company to slash jobs, laying off 10% of workforce
Snapchat parent Snap Inc. will lay off 10% of its full-time staff, or roughly 530 employees, the tech firm said Monday in a regulatory filing. Axios
Amazon launches AI shopping assistant
The new AI shopping assistant, called Rufus, is meant to help Amazon customers find items in a new more dialog-focused way. CNN
RESTAURANTS & HOSPITALITY
Starbucks will launch 3 new beverage platforms in 6 months
Pressured by boycotts and snacking competition, Starbucks will look to new drinks to strengthen its dwindling afternoon traffic. Restaurant Dive
McDonald's and Starbucks blame the Israel-Hamas war for slower sales — and the recovery might take a while
The Israel-Hamas war and related boycotts hurt Starbucks' and McDonald's sales in the latest quarter. CNBC
COMINGS & GOINGS
- H&M Names New CEO BoF
- Getir names new CEO at FreshDirect GroceryDive
- Rhode Names Nick Vlahos as CEO BoF
- Armani Beauty Names New Global Brand President WWD
- Philippe Pinatel Joins Merit Beauty as CEO BoF
- Deckers names Stefano Caroti new CEO Retail Dive
- Gap Inc. Names Zac Posen Creative Director BoF
- Sweetgreen hires former Starbucks exec Rossann Williams as COO Restaurant Dive
- Henry Davis, Formerly of Glossier, Named CEO of Sakara Life WWD
- Spanx Appoints Caroline Whitton CEO and Jeanne Jackson Executive Chair WWD
- Kroger CFO Gary Millerchip Steps Down WSJ
GOOD READS
