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.
- The Spanish fast-fashion chain Mango is eliminating some human models and using AI-generated avatars to create advertising campaigns more quickly. The most recent AI-generated advertising campaign is teen-focused. Some imagery appears on the Mango website with a disclaimer that AI was used to create the visuals. Mango plans to expand its use of the technology to its women’s and men’s collections. (Business of Fashion
)
- A new crop of tech startups has emerged to help solve the fashion industry’s inventory management problem, which has only intensified in recent years. Tools like Autone, Singuli, Prediko and Algo among others, help better forecast demand, streamline stock allocation, optimize stock levels and automate replenishment to ultimately minimize waste and maximize efficiency. (Vogue Business
)
- IKEA and Uniqlo join luxury fashion houses like Kering, Prada, Rolex and LVMH in owning, rather than leasing, huge retail spaces on Fifth Avenue in NYC. Competition for a handful of retail spaces on Fifth Avenue has heated up as retailers are willing to pay top dollars to buy long-term stability and keep overhead costs more predictable. (NY Times
)
- Aritzia has seen explosive growth in the past five years, more than doubling its revenue in 2019 to $1.65 billion in the most recent fiscal year through an unconventional approach to retail, focusing on stores and premium real estate rather than traditional marketing. Aritzia’s approach has inspired an unusual degree of evangelism among customers, who post countless try-on haul videos on TikTok. (Business of Fashion
)?
- Creator-led CPG brands such as 1UP Candy and MrBeast's Feastables are achieving significant success through Walmart, which has become a preferred launch partner for such brands due to its vast physical presence and connection with young consumers. (Forbes
)
- 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.
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