Weekly Consumer News Roundup // April 9, 2024

This week, Uniqlo expands in Texas and California in new store push, Cindy Crawford and Casamigos unveil Casamigas Jalapeño Tequila, and more.

WORDS FOR THE WEEK

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M&A and INVESTMENTS

• Paramount Enters Exclusive Merger Talks With Skydance, Spurning $26B Offer From Apollo WSJ
• Endeavor Agrees to Be Bought by Silver Lake at $13 Billion Valuation WSJ
• L’Oréal Eyes Stake in €3 Billion Perfume Brand Amouage BoF
• Gucci owner Kering buys Milan building for €1.3bn Financial Times
• Space NK owner Manzanita plots £400m beauty chain sale Sky News
• KISS Just Sold Its Music Catalog and Name for Over $300 Million Robb Report
• Protein bar maker Aloha gets $68M from venture fund Food Dive
• Blackstone Nears Buyout of Skincare Company L’Occitane Bloomberg
• Online retailer Mytheresa among suitors for Yoox Net-a-Porter Financial Times
• FullBeauty Brands Acquires Leading Online Marketplace for Inclusive Fashion, Dia & Co. Yahoo
• Full Glass Wine acquires DTC wine subscription brand Bright Cellars Modern Retail
• Former Starbucks CEO Howard Schultz invests in Tony’s Chocolonely Food Dive
  
• Jersey Mike’s reportedly considering a sale Restaurant Dive
• 3G Capital exited its investment in Kraft Heinz last year CNBC
• Hain Celestial sells Thinsters cookie brand to J&J Snack Foods Food Dive

CULTURE/GOODREADS

• Federico Balestra Of Sabatino On 5 Things You Need To Run A Highly Successful Family Business Medium
• How Matches’ Collapse Could Impact Independent Fashion BoF
• Consumers Hate ‘Price Discrimination,’ but They Sure Love a Discount NYT

INDUSTRY NEWS

CPG

Premium dessert startups are transforming the ice cream aisle

From better-for-you to sustainably-produced ice cream, the category has seen many new trends threaten the traditional pint. Modern Retail

Brands are betting on tequila-based beverages as the next trending category

Over the last couple of years, ready-to-drink beverages have risen in popularity. And this year, major brands are placing their bets on tequila being the spirit of choice for these products. Modern Retail

Kellanova taking Pop-Tarts in a different direction

Kellanova has introduced Pop-Tarts Crunchy Poppers as the latest addition to its Pop-Tarts product portfolio. Described as the brand’s first crunchy offering, the new Pop-Tart snacks are said to feature “a crunchy exterior, a tasty filling and a layer of frosting and sprinkles with every bite.” Food Business News

LeBron James’ The Shop launches men’s grooming line at Walmart

Starting Monday, the line of skin, hair and beard care products became available at 1,600 of the big-box retailer’s stores and online. Retail Dive

Gatorade enters new categories — even unflavored water — as competition to hydrate consumers ramps up

Gatorade has been branching out into new categories, including unflavored water, to keep up with consumers’ changing tastes and tougher competition. CNBC

Spicing Up The Tequila Scene: Cindy Crawford And Casamigos Unveil Casamigas Jalapeño Tequila

Cindy Crawford is launching her own tequila offshoot, Casamigas Jalapeño. Forbes

RETAIL

Target to Have a Section Dedicated to Fan-favorite Nonalcoholic Drinks

The retailer worked with nonalcoholic beverage store and brand Séchey to curate an assortment that includes brands like Ghia and Bella Hadid's Kin Euphorics. WWD

Retailers like Peloton and Saks keep paying vendors late, signaling possible ‘financial distress’ 

Retailers including Peloton, Saks, Express and Bath & Body Works have often failed to pay their vendors on time in the last few months, according to new data from Creditsafe. CNBC

How TikTok Shop Became The Internet’s Favorite New Dollar Store

Six months after its launch, TikTok Shop has sold more than $1 billion worth of products — some of questionable quality, including counterfeits. Forbes

Apparel Retailer Uniqlo Expands in Texas and California in New Store Push

Uniqlo plans to open 11 stores in Texas and California this year as part of an expansion that aims for 200 stores in North America by 2027. WSJ

JCPenney’s First Store Opening in Eight Years Trumpets $1 Billion ‘Refresh’ Plan

With its $1 billion “refresh” program, Penney’s sets higher standards for store presentation — and it’s most evident at the retailer’s new store in the Willowbrook Mall in New Jersey, the first opening by the retailer in eight years. WWD

MEDIA & TECH

Amazon cuts hundreds of jobs in cloud computing unit

Amazon Web Services is cutting hundreds of jobs throughout its sales, training and stores teams. The layoffs come shortly after Amazon abandoned its “Just Walk Out” technology. CNBC

How Disney’s Bob Iger Vanquished Wall Street Agitator Nelson Peltz

The CEO rolled out a string of initiatives that helped inoculate the company against the activist’s attack. WSJ

What Meta’s news ban means for brands and influencers

Facebook and Instagram are de-emphasising news in feeds, and in some cases, blocking news content altogether. The social media economy is bracing for a ripple effect. Vogue Business

Walmart & Target are encroaching on Amazon’s retail media dominance

Over the last few years, major retailers and e-commerce players have been building out more robust retail media programs. And that’s changing the conversation advertisers are having. For example, agencies’ clients are increasingly asking about investing in retail platforms like Walmart, Target and Instacart. Modern Retail

Coach files trademark and unfair competition complaint against Gap

The complaint takes issue with some Old Navy-branded T-shirts, which attorneys for the Tapestry-owned brand say are meant to make consumers think there is an association between the brands. Retail Dive

RESTAURANTS & HOSPITALITY

Subway is rolling out a new line of wraps

The addition of lavash flatbreads, just months after the debut of its Sidekick snacks, is the first time in three years the chain has launched a bread option. Restaurant Dive

Shake Shack shades rival Chick-fil-A with Sunday-only free chicken sandwich offer

Shake Shack appears to be throwing some heavy shade in the direction of rival fast food brand Chick-fil-A, as the burger chain seeks to promote its own chicken offerings. Page Six

Movie Theaters Have Weird Real Estate. It’s Saving Them.

Landlords cut rents to keep the spaces occupied, rather than repurpose windowless rooms and sloped floors. WSJ

COMINGS & GOINGS

• Jen Atkin appoints new CEO of her hair tool brand, Mane WWD
• Instant Pot, now a stand-alone company, appoints new leadership Retail Dive
• Acne Studios Taps Montblanc Exec as CFO WWD
• CKE names Hardee’s, Carl’s Jr. US brand presidents Restaurant Dive
• Spotify Taps Saab Executive Christian Luiga as New CFO WSJ
• Tom Ford Beauty Appoints Global General Manager BoF
• Shiseido Americas Taps Emmie Salaj as Chief Operating Officer of Dr. Dennis Gross Skincare Happi
• Godiva appointed Steve Lesnard as its president starting May 1 Food Dive
• Fortune Magazine Names a New CEO NYT