Weekly Wrap-up: Beyoncé's Ivy Park Brands Up with Peloton, Adidas for Exercise Apparel Collaboration
Unfiltered Roundup: Retail Insights, Unleashed!
Here's the week's dose of retail news, minus the sugarcoating. Buckle up!
Deep Dives You Might've Missed
REI's $30 Million to Elevate Color in the Outdoor World
REI's Path Ahead Ventures has set the bar high, aiming to invest a whopping $30 million in 300 entrepreneurs of color in the outdoor industry. By 2030, they hope more than 15% of REI's products will come from diverse brands and to achieve this, they're offering a fistful of opportunities for capital investment, product development assistance, and marketing muscles - quite a powerpack, wouldn't you say? Applications for the first cohort are open now.
Beyoncé x Peloton: A Collaboration that Hits all the Right Notes
It's hard not to get swole when two forceful brands like Peloton and Beyoncé decide to partner up. Their latest joint effort brings a fresh line of apparel and footwear that's as fierce as Queen Bey herself. From bike shorts to tees, every piece of this collection drops on Nov. 10 – so mark your calendars if you're ready to ride or die (get it?).
West Elm Puts Pen to Paper, Inks The Strategist's 'Strategic' Partnership
West Elm's first foray into a publishing tie-up has led to The Strategist Shop – an exciting new space filled with curated West Elm products. With over 40 items hand-picked by New York Magazine editors, you can be assured that every piece has that little something special. And by little, we mean commission. Every item sold will earn The Strategist a neat little commission.
Retail Therapy, The Unapologetic Edition
Neiman Marcus: Extravagance for the Extra-wealthy
For those with cash to burn and a penchant for extravagance, Neiman Marcus is at the ready with their usual pantheon of pricey presents. From Lindsey Vonn ski expeditions to electric Hummers blazing with Neiman Marcus branding, the 2021 Christmas Book is chock-full of exorbitant gifts that'll make your eyes water. And yes, they've gone sustainable, offering a chance to resell your old clothes and get a fresh new wardrobe. Talk about guilt-free shopping!
Skyward With Sara Blakely
Sometimes, you've got to reach for the stars to show your employees you care. Spanx founder Sara Blakely did just that by giving away a little something extra: a first-class ticket for every employee, complete with $10,000 spending money. "Cheers to 21 years of magic and many more to come," she wrote on Instagram, effectively melting hearts everywhere.
The Questions that Keep Us Pondering
Numbers Galore, But Walmart+ Subscriber Count Remains a Mystery
Although various analysts throw out numbers, Walmart remains mum about its Walmart+ subscriber count. With an estimated 10 million subscribers, according to Morgan Stanley, it will be interesting to see how things shape up for the retail giant in the near future.
A Financial Mirage: Rent the Runway Goes Public
In a surprising, yet not completely shocking move, Rent the Runway underwraps its pre-2019 financial data as it prepares to make a splash in the stock market. With a history of losses and a cumulative deficit reaching $674.1 million, we can only wonder how these numbers will impact its future trajectory.
The Frontlines: Contenders, Casualties, and New Beginnings
H&M Abandons Ship on Champs-Élysées
In an effort to focus on digital opportunities, H&M is reportedly giving up its Paris flagship store, located on one of the most famous avenues in the world. One wonders what legendary retail spaces will be next on the chopping block.
Ikea Sets Sail for the Topshop Flagship
The London flagship store that once belonged to Topshop, now looks set to turn into an Ikea store. The $520 million purchase brings the final piece of Arcadia Group's assets into play, with the store due to open in 2023.
Private Equity Firms Versus Worker Empowerment
Retail workers have joined forces with politician Elizabeth Warren to propose legislation aimed at curbing the power of private equity firms. With an emphasis on worker protection, creditor rights, and the closure of tax loopholes, the bill dubbed the “Stop Wall Street Looting Act,” seeks to bring fairness back to the retail world. We'll see if it can win over the dissenting voices.
Enrichment Data:
REI's Path Ahead Ventures program aims to support entrepreneurs of color in the outdoor industry by investing in their businesses and providing resources like marketing support and access to their supply chain. By providing capital and support, the program aims to encourage diversity in the outdoor industry and promote economic development among underrepresented groups. Learn more about Path Ahead Ventures and its impact here:1 and here:5
- REI's Path Ahead Ventures is investing $30 million in 300 entrepreneurs of color in the outdoor industry, with the hope that more than 15% of REI's products will come from diverse brands by 2030.
- The collaboration between Peloton and Beyoncé brings a fresh line of apparel and footwear, reflecting Beyoncé's fierce brand identity.
- West Elm has entered the publishing space with The Strategist Shop, a space curated with items hand-picked by New York Magazine editors.
- Neiman Marcus offers a range of high-end, pricey gifts for the holiday season, including Lindsey Vonn ski expeditions and electric Hummers.
- Sara Blakely, founder of Spanx, has shown appreciation for her employees by giving away a first-class ticket with $10,000 spending money to each employee.
- Walmart maintains secrecy about its Walmart+ subscriber count, despite various analysts estimating the number to be around 10 million.
- Rent the Runway is going public, but the company is withholding its pre-2019 financial data, raising questions about its future trajectory and the impact of previous losses.
- H&M will be giving up its Paris flagship store on the famous Champs-Élysées in an effort to focus on digital opportunities, leaving the future of other legendary retail spaces uncertain.
- Ikea is set to purchase the former Topshop flagship store in London for $520 million, marking the final piece of Arcadia Group's assets to be acquired, with the store slated to open in 2023.
