Prada group is defying the luxury slowdown, buoyed by the strength of its Miu Miu brand. Shopify is successfully going after Salesforce’s enterprise clients. Meanwhile, Revolve launched a shopping game and TikTok Shop is going all in on livestreaming this holiday.?
- Prada Group’s popularity has regularly placed both its namesake brand and Miu Miu at the top of the Lyst Index, which tracks brand heat using social media mentions, consumer searches, product views and sales, and global activity and engagement statistics. The popularity is now evident in its sales number - overall group retail sales were up 15% for the first nine months, and the Miu Miu brand was up 97% for the period. (Fashion Dive)?
- Brands are facing more expensive digital ad rates as political candidates and retailers battle for Americans’ attention. As a result, some brands are trying to stand out by also running analog holiday campaigns through out-of-home, direct mail and print. Brands feel that OOH is harder for people to avoid or tune out. (Modern Retail)?
- Shopify is shifting its focus from small businesses to larger retailers, successfully attracting major clients like Mattel and Casper from Salesforce by offering lower costs and flexible pricing models. (Business of Fashion)?
- With account names like Costco So Obsessed and The Queens of Target, shopping influencers have built a following by showing off their grocery hauls or exclusively posting about the latest products and deals at their favorite retailer. Now, more CPG startups like Mid-Day Squares and Sweety Ice Cream are striking partnerships with these retail influencers to help them showcase their products in stores. (Modern Retail)?
- Revolve Group launched Bellemint, a mobile app-based fashion styling game, targeting a young, tech-savvy demographic in the US. Bellemint lets users, or “stylists,” create digital looks and shop their physical counterparts on Revolve’s connected e-commerce site. Tests with consumers in Australia, Canada and New Zealand showed that thousands of players in each region played for an average of 30 minutes per day - ninety-one percent of users were female and 70% were 18-34 years old. (Glossy)?
- TikTok is betting that the busy holiday period will be a key time to ramp up livestreaming on its e-commerce platform. TikTok will feature “super livestreams” with celebrities. The company has also released an affiliate app for creators to help them build their audiences and sales, as well as a holiday e-book that provides sellers with TikTok Shop-focused tips. (Modern Retail)?
- L'eggs? was acquired by Windsong Global from Hanesbrands Inc.
- Hilco Global and TPG Angelo Gordon announced a joint venture to acquire and finance consumer brands in partnership with Bluestar Alliance, and the joint venture included acquiring Off-White (lifestyle brand) from LVMH.
- JACQUEMUS (French fashion house) announced it is seeking a minority investor.
- Hummingbirds, a platform that connects local creators with brand campaigns in their area, raises $5.4M.
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