The Indicator | November 15th, 2024

By Sonal Gandhi
Chief Content Officer at The Lead

It’s numbers week. Latest holiday sales growth predictions are in and are hovering around 3 – 3.7%, which’s lower than last year. Vuori, the digital-native athleisure brand, is now valued at $5.5B while Klarna is valued at $14.6B. Meanwhile, Forerunner Ventures has a new $500M fund focused on early-stage consumer start-ups.

'INNOVATION MOVES'

● Amazon has launched The Amazon Haul store, to compete with low-cost storefronts of Temu and Shein. The Amazon Haul store is currently only available on the mobile app or mobile web browser and has similar mass-produced, discounted items, most of which ship from China. (Tech Crunch)

● Shopify added 16 enterprise clients for the most recent quarter like luxury handbag company Fashion File, jewelry designer Brilliant Earth, and cosmetics company Beautycounter, as well as apparel brands Hanes and Vera Bradley. A rise in revenue from larger brands like Reebok and Off-White helped push Shopify’s Q3 revenue up 26% to $2.16 billion. (Retail Brew)

● Grove Collaborative will exit partnerships with brick-and-mortar stores like Costco, Kroger, Kohl’s etc but will continue to sell on Amazon. The wholesale channel constitutes less than 4% of Grove’s business and has been consistently unprofitable. (Retail Dive)

● Nuuly, the clothing rental platform owned by Urban Outfitters, Inc., is offering customers the chance to buy final-sale, as-is styles from brands like Maeve and Pilcro via its new Thrift Shop available on Nuuly.com. The new Thrift Shop is limited to Nuuly’s inventory only, and it does not function as a peer-to-peer model. (Modern Retail)

● Dolce & Gabbana and Skims are linking up for a limited-edition collaboration, set to launch next week. The collection, with items priced from around $50 to $700, fuses Dolce & Gabbana’s playful Italian throwback motifs with Skims’ sleek, body-hugging forms. (Business of Fashion)

● New “it” partnerships in beauty are with food and beverage companies. E.l.f. Beauty partnered with Liquid Death canned water for a line of heavy metal-inspired makeup; NYX Professional makeup partnered with iconic chef Gordan Ramsey and his daughter, Holly Ramsay, to promote the brand’s Buttermilk Blush; Beekman1802 collaborated with Nestlé Toll House; and TikTok-famous color cosmetics brand Wonderskin partnered with Chipotle Mexican Grill for a “burrito-proof” lip stain kit. (Glossy)

● E.l.f. Beauty’s incredible growth is in part due its compensation program that gives equity to every employee no matter where they are based or what their level is, according to the CEO. (WWD)

'Financial Moves'

Holiday sales growth will slow to about 3% in 2024 from 4.7% last year, remaining well below the 5.3% 10-year average, predicts S&P Global.
Vuori (Foremost 50’ 21) has announced an $825 million investment led by growth-minded firms General Atlantic and Stripes, elevating its valuation to $5.5 billion.
Aquatalia (footwear brand) was acquired by Vida Shoes International from ADHJA Aquatalia LLC.
JustEatTakeaway.com (Dutch online delivery conglomerate) was acquired by Wonder (delivery food hall).
Hype (streetwear brand) sold a 60% stake to Apparel Brands (backed by True Capital).
Divi (scalp care) sold a minority stake to Norwest Venture Partners.
Mykita (German eyewear brand) sold a minority stake to LVMH.
OneSkin secures Series A investment with participation from Camila Alves McConaughey.
Boohoo (digital retailer) raised £39M to support turnaround efforts.
Forerunner Ventures announced a new $500M fund focused on early-stage consumer start-ups.
Tapestry and Capri terminated their Merger Agreement.
Klarna (e-comm payment processing) filed to IPO on the NYSE at a valuation of $14.6B.

Financial Moves Powered by MMG Advisors

'Career Moves'

Print Designer | Fashion – New York, NY
Design Director – Leather Goods – New York, NY | Remote
Luxury Sales Associate | Menswear – New York, NY
Marketing Manager | Fragrance – New York, NY | Hybrid
Multimedia Production Manager – Miami, FL
Temp Graphic & Packaging Designer – New York, NY | Onsite
Freelance Ecommerce Merchandising Senior Manager – New York, NY | Hybrid
Production Manager | Footwear – Gardena, CA | Hybrid
Temporary Brand Marketing Associate – New York, NY | Hybrid
Tech Pack Designer | Children’s Wear – New York, NY | Hybrid

Career Moves Powered by JBC

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