--- title: Weekly Consumer News Roundup // March 19, 2024 description: This week, Unilever is cutting jobs and splitting off its ice cream unit, Hilton bets on college towns with acquisition of Graduate Hotels, and more. image: https://stories-editor.hilton.com/wp-content/uploads/2024/03/GraduateFBimage.jpg --- [![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/) # Weekly Consumer News Roundup // March 19, 2024 By [TRAUB](https://blog.traub.io/blog/author/traub) On March 19, 2024 [![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) This week, Unilever is cutting jobs and splitting off its ice cream unit, Hilton bets on college towns with acquisition of Graduate Hotels, and more. --- **WORDS FOR THE WEEK** ![IMG_0280 (1)](https://blog.traub.io/hs-fs/hubfs/IMG_0280%20(1).jpg?width=320&height=390&name=IMG_0280%20(1).jpg) For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram.    **M&A and INVESTMENTS** - Selena Gomez Weighs Sale of Cosmetics Brand Rare Beauty Valued at $2 Billion [Bloomberg](https://www.bloomberg.com/news/articles/2024-03-18/selena-gomez-weighs-sale-of-cosmetics-brand-valued-at-2-billion?utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=can-barings-bear-the-heat) - Marlboro maker Altria sells $2B stake in AB InBev [Food Dive](https://www.fooddive.com/news/ab-inbev-anheuser-busch-marlboro-altria-sells-shares-bud-light-cigarettes/710356/) - Wonder, Marc Lore’s Food-Delivery Startup, Raises $700 Million [WSJ](https://www.wsj.com/business/wonder-marc-lores-food-delivery-startup-raises-700-million-dc5e1e60?mod=business_lead_pos5) - Hilton Agrees to Buy Graduate Hotels Brand for $210 Million [Bloomberg](https://bloomberg.com/news/articles/2024-03-14/hilton-agrees-to-buy-graduate-hotels-brand-for-210-million?embedded-checkout=true) - Enlightened Hospitality invests $20M in Five Iron Golf [Restaurant Dive](https://www.restaurantdive.com/news/Five-Iron-Golf-20-million-investment-Danny-Meyer-Enlightened-Hospitality/710069/)   ## **CULTURE/GOODREADS** - As the US TikTok ban advances, what does it mean for brands? [Vogue Business](https://www.voguebusiness.com/story/companies/as-the-us-tiktok-ban-advances-what-does-it-mean-for-brands) - Women Aren’t Getting the Big Jobs at Goldman Sachs, and They’re Heading for the Exits [WSJ](https://www.wsj.com/finance/investing/goldman-sachs-women-big-jobs-leaving-09112f6a)   ## **INDUSTRY NEWS** **CPG** Lego Builds Market Share as Ever-Popular Toy Bricks Defy Demand Drop Lego sales increased last year as the toy-brick maker’s Harry Potter play sets and Fortnite video game boosted its popularity, helping it outperform and take market share from its rivals despite a slump in global demand. [WSJ](https://www.wsj.com/business/retail/lego-builds-market-share-as-ever-popular-toy-bricks-defy-demand-drop-31af4249?mod=business_lead_pos3)   ![bodyarmor](https://www.fooddive.com/imgproxy/GeHrp0Yba2g64FDh-XcVJRcQ3BCUvRhKBg53hNQsZkQ/g:ce/rs:fill:1200:675:1/bG9jYWw6Ly8vZGl2ZWltYWdlL2JvZHlhcm1vci5qcGc=.webp) Why hydration drinks are quenching the beverage industry’s thirst for product growth Offerings like Waterdrop, Electrolit and BodyArmor’s Flash I.V. are building a powerful and trendy product category that sits between water, soda, sports and energy drinks. [Food Dive](https://www.fooddive.com/news/why-hydration-drinks-are-quenching-the-beverage-industrys-thirst-for-produ/709177/)   Nike, Lululemon and Activewear’s Innovation Problem The category’s biggest brands by market capitalisation report results this week, and will need to show they have a plan to fend off fast-growing competition. [BoF](https://www.businessoffashion.com/briefings/retail/nike-lululemon-and-activewears-innovation-problem/)   Unilever to Cut 7,500 Jobs and Spin Off Ben & Jerry’s Ice Cream Unit The consumer goods giant said the moves would make for a “simpler, more focused company” as consumers trade down to cheaper brands amid high inflation. [NYT](https://www.nytimes.com/2024/03/19/business/unilever-ben-jerrys-job-cuts.html)     **RETAIL** Babies "R" Us Will Open in About 200 Kohl’s Stores With a Baby Registry Option Too The new partnership will come with baby gear, furniture, activity, feeding, bath, and safety products. [Yahoo](https://www.yahoo.com/lifestyle/babies-r-us-open-200-191324390.html)   Mango Targets U.S. Growth To Make North America Third Largest Market Barcelona-based fashion retailer Mango achieved record sales of $3.39 billion in 2023 and committed to further expansion in the U.S. as the company pledged to open around 500 stores globally by 2026. [Forbes](https://www.forbes.com/sites/markfaithfull/2024/03/12/mango-targets-us-growth-to-make-north-america-third-largest-market/?sh=6638e6a918a3)   Inditex Sales Rise as Company Plans to Launch Resale, Livestreaming in the U.S. and Spend Big on Logistics Zara will open stores at The Grove in L.A. and Caesars Palace in Las Vegas, and invest 900 million euros on distribution centers in the coming year. [WWD](https://wwd.com/business-news/financial/inditex-full-year-2023-results-1236261536/)   Why retailers like Target are rolling out more value-based lines Retailers are making more versions of their private labels or lowering the price of their existing private-label goods to cater to more demographics of shoppers. [Modern Retail](https://www.modernretail.co/operations/why-retailers-like-target-are-rolling-out-more-value-based-lines/)   Lilly partners with Amazon to deliver Zepbound and other drugs Eli Lilly said on Wednesday it has brought on Amazon’s pharmacy unit to deliver drug prescriptions sent to its direct-to-consumer service, LillyDirect. [Reuters](https://www.reuters.com/business/healthcare-pharmaceuticals/lilly-partners-with-amazon-deliver-zepbound-other-drugs-2024-03-13/)   Outdoor Voices to Close All Stores This Week The athleisure retailer will go online only, according to employees who were surprised by the announcement.[NYT](https://www.nytimes.com/2024/03/13/style/outdoor-voices-closing-stores.html)   Macy’s Names New Director, Open to Engaging With Arkhouse Macy’s Inc. is nominating a new director to its board to add real estate expertise as the company faces a takeover approach from a group led by Arkhouse Management Co. [Bloomberg](https://www.bloomberg.com/news/articles/2024-03-14/macy-s-open-to-engaging-with-arkhouse-brigade-on-takeover-offer?embedded-checkout=true)   EBay Expands Fashion Consignment The peer-to-peer marketplace will now offer the more convenient option of selling pre-owned luxury clothing on sellers’ behalf. [BoF](https://www.businessoffashion.com/news/retail/ebay-expands-fashion-consignment/)   Joann Hopes For Fast Track Exit From Chapter 11 In Pre-Pack Deal Arts and crafts retailer Joann Inc. has filed for Chapter 11 bankruptcy protection but expects to emerge from administration within weeks. [Forbes](https://www.forbes.com/sites/markfaithfull/2024/03/18/joann-hopes-for-fast-track-exit-from-chapter-11-in-pre-pack-deal/)     **MEDIA & TECH** Who Is the TikTok Shopper? The ByteDance-owned app’s e-commerce play has been met with mixed response from users. Still, sales keep ticking up. [BoF](https://businessoffashion.com/articles/retail/who-is-the-tiktok-shopper/)   LinkedIn plans to add gaming to its platform LinkedIn is tapping into the same wave of puzzle-mania that helped simple games like Wordle find viral success and millions of players. Three early efforts are games called “Queens”, “Inference” and “Crossclimb.” [TechCrunch](https://techcrunch.com/2024/03/16/linkedin-wants-to-add-gaming-to-its-platform/)   Sports Illustrated’s Print Edition to Continue Under New Operator Minute Media, owner of The Players' Tribune, has struck a deal to operate Sports Illustrated for at least 10 years. [NYT](https://www.nytimes.com/2024/03/18/business/sports-illustrated-magazine.html)   Popular YouTuber MrBeast strikes Amazon deal for competition reality show The show, called “Beast Games,” will be released on Prime Video and feature “over 1,000 contestants, $5,000,000 prize, and many other world records. CNN     **RESTAURANTS & HOSPITALITY** Chick-fil-A to open first digital-only pickup restaurant in NYC The 3,500-square-foot walk-up restaurant is the first of two digital-focused locations to open this year with an elevated drive-thru expected to follow. [Restaurant Dive](https://www.restaurantdive.com/news/chick-fil-a-opens-first-digital-only-pickup-restaurant-new-york-city/710200/)   ![Hilton to Accelerate Expansion in Fast‑Growing Lifestyle Category with Addition of Graduate Hotels® to Global Brand Portfolio | Hilton News](https://stories-editor.hilton.com/wp-content/uploads/2024/03/GraduateFBimage.jpg) Hilton Bets on College Towns With $210 Million Deal Lodging giant is acquiring Graduate Hotels, a brand with properties near dozens of college campuses. [WSJ](https://www.wsj.com/real-estate/commercial/hilton-hotels-college-towns-expansion-74ca6e60?st)   The French have fallen in love with American fast food. Here’s why In 2023, the nation ranked third in Europe for fast-food sales, with a total of 19 billion euros, according to market research company Euromonitor International. [CNBC](https://www.cnbc.com/2024/03/19/the-french-have-fallen-in-love-with-american-fast-food-heres-why.html)     COMINGS & GOINGS - Brooks Running promotes Dan Sheridan to CEO [Retail Dive](https://www.retaildive.com/news/brooks-running-promotes-dan-sheridan-ceo/710119/) - Petco CEO Ron Coughlin steps down [CNBC](https://www.cnbc.com/2024/03/13/petco-ceo-ron-coughlin-steps-down.html) - Harper's Bazaar Names New Executive Digital Director [BoF](https://www.businessoffashion.com/news/media/harpers-bazaar-names-new-executive-digital-director/) - Under Armour Returns Founder Plank to CEO, Ousting Linnartz [Bloomberg](https://www.bloomberg.com/news/articles/2024-03-13/under-armour-returns-founder-plank-to-ceo-ousting-linnartz?embedded-checkout=true) - Allbirds Names New CEO as Sales Slide Continues [BoF](https://www.businessoffashion.com/news/retail/allbirds-names-new-ceo-as-sales-slide-continues/) - Marla Beck named CEO of BeautyHealth [Retail Dive](https://www.retaildive.com/news/marla-beck-named-ceo-beautyhealth/710270/) - Restaurant Brands International Appoints Sami Siddiqui as CFO [WSJ](https://www.wsj.com/articles/restaurant-brands-international-taps-sami-siddiqui-as-cfo-3b2c7c92?mod=business_lead_pos4) - **Fossil Group** CEO Kosta Kartsotis Steps Down [WSJ](https://www.wsj.com/business/retail/fossil-group-ceo-kosta-kartsotis-steps-down-amid-strategic-review-f740eabe) - Balmain CEO Steps Down After Four Years [WWD](https://wwd.com/fashion-news/designer-luxury/balmain-ceo-leaves-guevel-1236267490/) - Hertz CEO out following electric car ‘horror show’ [CNN](https://www.cnn.com/2024/03/18/business/hertz-ceo-departure-ev/index.html?utm_source=business_ribbon) - Hain Celestial named Chad Marquardt as president of its North American operations [Food Dive](https://www.fooddive.com/news/hain-celestial-names-new-president-north-american/710577/) - Qdoba hires Little Caesars exec as chief development officer [Restaurant Dive](https://www.restaurantdive.com/news/qdoba-hires-jeremy-vitaro-chief-development-officer-head-international/710534/) - Dries Van Noten Is Stepping Down [WWD](https://wwd.com/fashion-news/designer-luxury/dries-van-noten-leaving-succession-search-designer-1236074415/) ### 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