The Indicator | August 23rd, 2024

By Sonal Gandhi
Chief Content Officer at The Lead

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In this week’s news, H&M is repositioning the brand through new experiences and assortment this fall, Brat Summer continues for K18 with Charlie XCX endorsement and online spending shifts towards lower-cost items and the mobile platform.

'INNOVATION MOVES'

● H&M is upgrading its shopping experience including renovations on 250 stores, and a series of pop-ups and other activations in key markets as part of its plan to regain market share. The new strategy will also be reflected in H&M’s upcoming fall collection. (Business of Fashion)

● Canopy, the DTC humidifier and showerhead startup, will expand its physical presence with a national Sephora launch. According to Canopy, its products are the first home devices to be sold in Sephora stores. (Modern Retail) 

● Pop star Charli XCX revealed a partnership with K18 via a behind-the-scenes video on TikTok showcasing how she used the brand’s Leave-In Molecular Repair Hair Mask in preparation for her music video. (Glossy)

● Global eyewear company Zenni cut marketing costs by half while doubling its profits by cutting back on expensive creative campaigns and using generative AI to create new marketing ideas and product imagery. (Glossy)

● Wayfair’s Perigold brand is opening its first brick-and-mortar store in the fall of 2025, located in West Palm Beach, Florida, The store will have a curated collection of products from local and national design partners and brands. (Retail Dive)

● Spanx founder Sara Blakely is launching her next venture, Sneex, a shoe brand that combines features from a high heel and a sneaker to create a hybrid heel, or what the company calls “hy-heels.” (Retail Dive)

● Adobe expects mobile devices to drive 53% of sales during the upcoming holiday season. During the first seven months of this year, through the end of July, mobile sales averaged 47.7% and amounted to $280.4 billion in spending, up 10.2% over the same period a year ago. (Forbes)

 

'Financial Moves'

  • Online spending growth is up 10% year-over-year, per Signifyd E-commerce Pulse data, but has shifted towards lower-cost items – orders under $100 grew 17.7%.
  • Great Many, hair growth brand, raised a pre-seed of $3.4M.
  • Beauty software company Fresha, secured a $31 million venture debt facility from J.P. Morgan to invest in the development of new technologies, including AI robots.
  • Walmart sold off its remaining stake in JD.com (digital retailer), raising $3.6B.
  • Carpe (sweat control brand) raised an investment from Topspin Consumer Partners.
  • Levels (metabolic health wearables) raised $10M from Long Journey and a16z, alongside crowdfunding.
 

Financial Moves Powered by MMG Advisors

'Career Moves'

Career Moves Powered by JBC 

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