Gen Z is featuring prominently on brands' wishlist this fall. Urban Outfitters is opening pop-ups on college campuses, Uniqlo has launched its cheaper trend-driven brand, GU, in the US with a website and Soho store and E.l.f (a Gen Z-focused mass beauty brand) continues to grow and gain share in a softening market. If you are looking to target young customers this holiday, they’ll be shopping on TikTok, according to a new report.?
- Urban Outfitters is investing in UO College Shops, a multi-state marketing activation targeting college students in order to win back Gen Z, the brand’s core demographic. The pop-ups are set in existing, on-campus Urban Outfitters shops at 20 of the largest U.S. colleges. Shops offer dorm essentials and each location features custom fixtures, signage and displays reflecting the local school’s colors. (Glossy
)?
- Nearly two years after it opened its first U.S. pop-up, Uniqlo’s sister brand GU opened its first permanent store outside of Asia in New York City’s Soho neighborhood. It also launched its first e-commerce website and app in the U.S. (Modern Retail
)?
- According to a report released by Fiverr, Gen Z continues to do much of its holiday gift searching on social platforms. In the U.S., nearly 54% of Gen Z will find gifts on TikTok Shop alone. A third of U.S. respondents will shop for gifts seen on Facebook and Instagram ads, and almost a quarter (24%) of U.S. Gen Zers will make their purchases through influencer recommendations. (Retail Dive
)
- Mass beauty and personal care brands like L’Oréal, Unilever, and Not Your Mother’s are seeing sales boosts after debuting elevated products at higher price points within skin care and hair care. In the first half of 2024, US prestige beauty sales grew 8%, while mass sales flattened, according to Circana data. Premium-priced products within mass are also “growing at a much healthier rate,” while value-priced items have softened. (Retail Brew
)
- However, mass beauty brand E.L.f. saw sales grow by 50% and posted 22 consecutive quarters of net sales growth and market share growth. E.l.f. is popular with Gen Z and Gen Alpha consumers and has seen viral success on platforms like TikTok, Roblox, and Twitch. (CNBC
)
- EssilorLuxottica extended its partnership with Meta Platforms to collaborate into the next decade to develop multi-generational smart eyewear products. (WWD
)
- Kendra Scott raised capital from 65 Equity Partners, HPS Investment Partners, and Belzberg & Co.
- Rebelstork (recommerce for baby gear) raised capital from Serena Ventures.
- Louis Garneau Sports (athleticwear brand) was acquired by Lol? (parent of Sanuk).
- THG (eComm) announced it would spin off its Ingenuity platform to focus on beauty & sports nutrition.
- UMIT BENAN (menswear brand) raised its first investment from D Capital.
- Vyrao (British fragrance brand) raised capital from L Catterton, Manzanita Capital, and Estée Lauder.
- Abolis Biotechnologies sold a minority stake to BOLD (L'Oréal's PE fund) for $38.6M.
- VIOLET GREY was re-acquired by founder Cassandra Grey from FARFETCH.
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