A couple of notable acquisitions in the news this week, including Blue Nile by Signet and Bravissimo by Wacoal Europe. Generative AI applications are also in the news as brands like Dior, CK and BMW embrace virtual influencers and Puma taps the tech for imagery while Gellé Frères is using it for generating video ads from product images. The Lead asked the Direct 60 executives about their experience with AI and Gen AI. Read about it in our latest Direct 60 Insights Report here.
- Brands like Dior, Calvin Klein, and BMW have used a virtual influencer, meaning a fictional avatar, named Lil Miquela, who is approaching 3 million Instagram followers. Some companies are experimenting with bringing virtual influencers into physical stores. Cindy, another virtual personality, was introduced at 13 shopping centers in the U.S. And Kim Kardashian created clones of herself to test out her products. (Retail Dive)
- Puma is tapping generative AI for its branding and online sales efforts, part of an expanded partnership with Google Cloud. The brand has already deployed Google Cloud’s Imagen 2 model to help it craft personalized website images corresponding to the locations of online shoppers. (WSJ)
- Amazon unveiled a new solution that uses generative artificial intelligence to convert product images into video ads. Gellé Frères, the French skin care company, has been testing the offering as it prepares for the Black Friday rush. (Retail Dive)?
- Popular online beauty brands like Summer Fridays and Patrick Ta Beauty are taking their marketing offline, and investing in attention-grabbing out of home campaigns to stand out from the pack and grow their overall brand awareness. (Business of Fashion)?
- American Eagle launched a ‘90s-inspired men’s collection in partnership with Timberland that is intended to blend fashion and outdoors. The collection, which will be offered in three drops, will include a wide range of tops, bottoms, accessories and footwear. (WWD)
- Suja Organic rebranded with refreshed packaging, updated messaging, and a new website. The packaging addresses consumer pain points around understanding ingredients and their benefits with what’s in the bottle is on the bottle. The brand is also focusing on the subscription model with its new DTC website. (LinkedIn)
- Blue Nile (online jewelry retailer) was acquired by Signet Jewelers for $360M in cash.
- Bravissimo (lingerie retailer for sizes D cup+) was acquired by lingerie and swimwear manufacturer Wacoal Europe.
- Tempur Sealy International said it would sell its Sleep Outfitters USA subsidiary (103 stores plus seven distribution centers) and 73 Mattress Firm Stores to Mattress Warehouse (bedding retailer).
- [solidcore] (fitness studio) sold a majority stake to L Catterton.
- Oak Essentials (Jenni Kayne-owned beauty brand) raised from Silas Capital and Unilever Ventures.
- Grove Collaborative raised a $15M PIPE from Volition Capital.
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