Layoffs at Amazon and Business Alliance Between LeBron James and Fanatics Unveiled
In the world of retail, it's a non-stop news extravaganza. Here's a rundown of the week's happenings you might've missed, along with our thoughts on it all.
What you might have overlooked
LeBron goes fanatic
Sports megastar LeBron James and Fanatics announced a multi-year trading card partnership. This union brings LeBron into Fanatics' trading card and collectibles division, with a special LeBron and his son Bronny autographed card appearing in the 2023-2024 Bowman University Chrome Basketball set, hitting shelves January 19th.
"As someone who appreciates every moment – big and small – along the journey, I'm excited to share more with my fans through this partnership with Fanatics," James commented.
New beauty royalty
In a fresh wave of appointments, a handful of beauty companies welcome new CEOs.
Orveon (Laura Mercier, BareMinerals, Buxom) appointed Neela Montgomery as their new CEO, effective January 18. With her vast retail experience – with stints as CEO at Crate and Barrel and president at CVS Health – she's sure to bring a fresh face to the beauty scene.
Additionally, L'Occitane Group combined the CEO and Group Managing Director roles into one, with Laurent Marteau stepping into the CEO position, effective April 1. Marteau's impressive beauty background includes work at LVMH and La Prairie Group.
Meanwhile, Juice Beauty picked Lance Patterson as their new CEO, following the departure of founder Karen Behnke. Patterson, most recently CEO of beauty brand Kate Sommerville, helped drive strong sales growth there through a new marketing strategy.
Lowe's points the way
On Wednesday, Lowe's unveiled MyLowe's Rewards – a loyalty program tailored to DIY enthusiasts. The three-tiered program offers points earned towards MyLowe's Money, free member-only gifts, exclusive offers, free workshops, early sale notifications, and customized app recommendations.
Retail nibbles
A munch on gummy wonders
Haribo declared victory in setting the Guinness World Record for largest gummy candy mosaic. The 353-square-foot display of their iconic Goldbear mascot was pieced together by 4 hours, 300 individuals, and 150,000 Goldbears.
Haribo encourages gummy art enthusiasts to put their creativity to the test through September, as part of their gummy art contest. Participants can earn themselves $5,000 in cash or a year's worth of Haribo gummies.
Hi-Chew chews on a comeback
Another chewy-candy fan-favorite, Hi-Chew, launched a DTC e-commerce platform for the new year, as well as a rewards program. Points gained are redeemable for more candy and exclusive Hi-Chew merchandise.
Build-A-Bear heats up Valentine's Day
Valentine's Day is only a hop, skip, and a jump away, and Build-A-Bear is jumping into the action with a set of adult-oriented products aimed at the holiday. Ranging from the "You Turn Me On" gift set featuring a reddish Goldbear to a 36-inch devil teddy bear, these new items stand to delight partners, friends, and admirers.
On our minds
Counting up the big growth
Mango plans to open 500 new stores across the US, UK, Spain, France, Italy, and India by 2026. By year's end, the company aims to have 40 stores in the US, marking its expansion into Washington, D.C. and Pennsylvania. Additionally, they've expanded their online sales to reach 20 additional countries and over 110 markets worldwide.
REI gears up for expansion
Outdoor retailer REI-Co-op anticipates opening 12 new stores by 2025. The company plans to announce the locations of three more stores as contracts are finalized, with 10 slated for opening this year in Beavercreek, Ohio; Beaverton, Oregon; Glendale, Arizona; Ithaca, New York; Rancho Mirage, California; Albany, New York; and Tulsa, Oklahoma. Next year, REI also plans to open stores in St. George, Utah, and Durango, Colorado.
What we're pondering
How's Amazon juggling resources?
This week, Amazon let go of several hundred roles across its Prime Video and MGM Studios organization, and reportedly plans to lay off around 500 people in its Twitch livestreaming unit. Meanwhile, the company closed its last Fresh Pickup location in Seattle and all brick-and-mortar stores except bookstores, 4-star stores, and pop-ups.
However, Amazon continues to forge ahead, particularly in healthcare. This week marked the launch of their chronic condition management portal, meant to highlight eligible benefits for weight management, diabetes, and other cardiometabolic conditions.
- In the announcement, LeBron James revealed his excitement about his new trading card partnership with Fanatics, set to debut on January 19th.
- Neela Montgomery, with her extensive retail experience, takes on the role of CEO at Orveon, effectively January 18.
- L'Occitane Group has combined the CEO and Group Managing Director roles, with Laurent Marteau stepping into the position, starting April 1.
- Lance Patterson, previously CEO of beauty brand Kate Sommerville, was announced as the new CEO of Juice Beauty, following the departure of founder Karen Behnke.
- On the day of myLowe's Rewards unveiling, Lowe's introduced a loyalty program catering to DIY enthusiasts.
- Haribo set a new Guinness World Record for the largest gummy candy mosaic, assembled by 300 individuals in 4 hours, featuring their iconic Goldbear mascot.
- As part of their gummy art contest, Haribo invites enthusiasts to submit their creations through September, with the possibility of winning $5,000 in cash or a year's worth of Haribo gummies.
- Hi-Chew launched a DTC e-commerce platform and rewards program, enabling customers to earn points for more candy and exclusive merchandise.
- Build-A-Bear introduced a set of adult-oriented products aimed at Valentine's Day, including a "You Turn Me On" gift set and a 36-inch devil teddy bear.
- Mango plans to expand significantly by opening 500 new stores across various countries by 2026, including 40 stores in the US, and REI-Co-op anticipates opening 12 new stores by 2025, with several locations slated for this year.
