Brands are carefully watching the impending TikTok ban, even as TikTok Shops delivers record sales this holiday for some like Canvas Beauty. Meanwhile, Temu is courting higher-end brands for its platform to compete with Amazon, which recently launched its Temu version.?
- Independent designers like Collina Strada, Telfar, Kiko Kostadinov, The Elder Statesman, Sant Ambroeus Batsheva and Denim Tears, who previously leaned on wholesale accounts and e-commerce to grow their businesses are investing in in-person shopping this year with store openings in NYC, LA, Aspen among others. (Vogue Business)?
- Temu is positioning itself as a marketplace for more than just low-cost goods as it looks to challenge Amazon as the next everything store. The platform Temu is trying to broaden its appeal by adding more higher-priced items to its product assortment. (Modern Retail)?
- More than a quarter of sales at Foot Locker were connected to the FLX loyalty program, up 4 percentage points from the third quarter last year, according to the CEO. The retailer simplified the in-store sign-up process in October and aims to reach 50% loyalty penetration by 2026. (Retail Dive)?
- Fashion and beauty brands are watching closely as TikTok fights a desperate battle to halt its impending ban. Many have been diversifying their channels in recent years. Already, a number of creators are asking followers to find them on other networks, such as Instagram and YouTube. (Business of Fashion)?
- Canvas Beauty sold more than 100,000 products on TikTok Shop, generating $2.1 million of its total sales via a 12-hour “mega live” stream hosted by the founder, breaking its own platform-wide record for the most products sold in a single live session. (WWD)
- According to analytics firm Numerato, Walmart’s Bettergoods and Target’s Dealworthy were the two fastest-growing private-label brands on the market for the year. The two brands, both of which were launched in 2024, increased their sales volume by more than 200%. (Supermarket News)
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- LVMH Luxury Ventures invested in Db, a premium luggage brand.
- Halycon Equity Partners invested in Zeus+Dione (French luxury brand).
- Groupe Courir (French sneaker retailer backed by Equistone Partners Europe) was acquired by JD Sports.
- Lord + Taylor (retail brand) was acquired by Regal Brands Global earlier this year, who will re-launch the brand selling DTC apparel and home products.
- Represent (British menswear brand) sold a minority stake to True (investment firm).
- Alby (fashion platform) raised a ?100 Billion ($71 Million) growth investment from Alibaba Group.
- VIOLETTE_FR (beauty brand) raised capital from Silas Capital, among others.
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