By Sonal Gandhi
Chief Content Officer at The Lead
Brands are embracing the Olympics in a big way in 2024. With this comes a wave of creative activations at the games: from Figs outfitting Team USA’s medical team to Pampers creating a nursery for athlete parents to Fenty Beauty providing makeup and services to volunteers. Meanwhile, Birkenstock’s first store opened in Paris this week and American Eagle is collaborating with Team USA’s Coco Gauff on a back-to-school campaign.
● Brands are utilizing “out-of-the-box” strategies to get involved in the 2024 Olympics, with DTC brand Figs outfitting the Team U.S.A. medical team while Pampers opens the first-ever nursery in the Olympic Village for athlete parents. (Modern Retail)
● Amazon’s Prime Day drove U.S. online sales to record $14.2B, up 11% year over year, according to Adobe Analytics, with electronics and back-to-school products among the top-selling categories. (CNBC)
● Nike is also showing out at the Olympics with an immersive experience in the Centre Pompidou titled “Art of Victory” and a new ad campaign “Winning Isn’t for Everyone.” featuring athletes like LeBron James, Jakob Ingebrigtsen, Sha’Carri Richardson, Serena Williams, A’ja Wilson, Kylian Mbappe, and more. (Forbes)
● Beauty brands are also embracing The Olympics in a big way in 2024. Sephora hosted a pop-up during the Olympic torch relay, while Rihanna’s Fenty Beauty is partnering with an untapped market at the games — over 600 volunteers who give winners their medals. (WWD & Forbes)
● Birkenstock opened its first store in Paris, marking a significant expansion into the European market. The timely launch, as Paris gears up to host the Olympics, has the potential to boost the brand’s visibility and appeal during the global sporting event. (Retail Dive)
● American Eagle‘s “Live Your Life” back-to-school campaign starring Coco Gauff (among others) features a product collaboration with the star and leverages TikTok, Instagram, and more to emphasize real-world interactions and user-generated content — the campaign’s blend of co-creation, omnichannel strategies, and surprise activations targets the brand’s Gen Z audience. (Glossy)
● TikTok‘s “Deals For You Days” boosted consumer spending on the platform, with U.S. shoppers spending an average of $52 each during the event. The initiative, positioned strategically before Amazon’s Prime Day, aimed to establish TikTok as a significant player in the e-commerce market, leveraging its engaged user base to drive spontaneous purchases. (Retail Dive)
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L’Occitane (beauty brand) is moving forward with plans to delist from the Hong Kong Stock Exchange, going private.
Summer Fridays (influencer beauty brand) received a growth investment from TSG Consumer Partners.
Thackerays (fashion retailer) was acquired by Frasers Group.
Good Sportsman Marketing (GSM) Outdoors (outdoor brands) was sold to Platinum Equity from Gridiron Capital LLC.
Indie Lee & Co. (skincare brand) was acquired by American Exchange Group.
Naturalia Tantum (Italian personal care brand) sold a majority stake to H.I.G. Capital.
Mubadala Capital acquired a majority stake in Bugaboo (high-end strollers) from Bain Capital.
Verlinvest and Mistral Equity Partners bought 66% of Insomnia Cookies (dessert retailer) from Krispy Kreme for $127.4M
L Catterton acquired a 42% stake in Value Retail (luxury outlet group) from Hammerson.
Zoyd (apparel AI platform) raised $18M from RTP Global, Lightspeed Ventures, and Algeria Capital among others.
W (Jake Paul’s body care brand) raised $11M from Shrug Capital.
SpinInspired (luxury skincare) raised a $1.5M from Unilever Ventures, the co-founders, and other angel investors.
HexClad Cookware (premium kitchenware) raised $100M from Studio Ramsay Global (Gordon Ramsay’s production company) in a combination of cash & media commitments.
Phillips Pet Food & Supplies (pet supply distributor) raised a $110M senior secured revolver from Wingspire Capital.
Conn’s (furniture) filed for bankruptcy with plans to wind down its business and close stores.
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