Weekly Consumer News Roundup // March 19, 2024

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

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M&A and INVESTMENTS

• Selena Gomez Weighs Sale of Cosmetics Brand Rare Beauty Valued at $2 Billion Bloomberg
• Marlboro maker Altria sells $2B stake in AB InBev Food Dive
• Wonder, Marc Lore’s Food-Delivery Startup, Raises $700 Million WSJ
• Hilton Agrees to Buy Graduate Hotels Brand for $210 Million Bloomberg
• Enlightened Hospitality invests $20M in Five Iron Golf Restaurant Dive

CULTURE/GOODREADS

• As the US TikTok ban advances, what does it mean for brands? Vogue Business
• Women Aren’t Getting the Big Jobs at Goldman Sachs, and They’re Heading for the Exits WSJ

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

COMINGS & GOINGS

• Brooks Running promotes Dan Sheridan to CEO Retail Dive
• Petco CEO Ron Coughlin steps down CNBC
• Harper's Bazaar Names New Executive Digital Director BoF
• Under Armour Returns Founder Plank to CEO, Ousting Linnartz Bloomberg
• Allbirds Names New CEO as Sales Slide Continues BoF
• Marla Beck named CEO of BeautyHealth Retail Dive
• Restaurant Brands International Appoints Sami Siddiqui as CFO WSJ
• Fossil Group CEO Kosta Kartsotis Steps Down WSJ
• Balmain CEO Steps Down After Four Years WWD
• Hertz CEO out following electric car ‘horror show’ CNN
• Hain Celestial named Chad Marquardt as president of its North American operations Food Dive
• Qdoba hires Little Caesars exec as chief development officer Restaurant Dive
• Dries Van Noten Is Stepping Down WWD