On this week’s Modern Retail Rundown, we discuss the growing consolidation in the Tapestry’s big acquisition of Michael Kors owner Capri. Next, why brands are reducing the rewards in their rewards program to improve margins. Finally, we talk about Amazon scrapping a majority of its apparel private labels amid growing anti-trust ridicule. Stories referenced: https://www.nytimes.com/2023/08/10/business/tapestry-capri-merger-luxury-fashion.html https://www.modernretail.co/marketing/ralph-lauren-and...
Aug 12, 2023•28 min
U.K.-based fashion brand Kurt Geiger has been around since the 1960s, but has big plans to further expand its U.S. presence. The brand entered the U.S. around six years ago. "The U.S. is our number one market, it's bigger than the U.K.," said CEO Neil Clifford. "It will be north of $200 million this year… I think next year, comfortably, we'll be north [of] $300 million." Meanwhile, this year the brand as a whole is on track to bring in more than $40 million EBITDA on nearly $500 million in total...
Aug 10, 2023•36 min
On this week’s episode of the Modern Retail Rundown, the staff dissects various news coming out of the retail industry. This was a busy week for earnings reports -- and we’ll start out by breaking down Amazon’s blockbuster quarter following mass layoffs. Next, we take a look at E.l.f.'s hyper-growth path, courtesy of Gen Z adoration. And lastly, a look at how Diamond Crystal is trying to position its kosher salt to home cooks. Stories cited: https://www.cnbc.com/2023/08/03/amazon-amzn-q2-earning...
Aug 05, 2023•32 min
Coffee shops may have seen a dip during the pandemic, but they’re back and booming. That's especially true for the coffee chain Bluestone Lane. The company is ten years old, but has really kicked business into gear over the last few years. The coffee shop has over 60 locations and has seen its business grow 350% since the pandemic. Its founder and CEO Nick Stone joined the Modern Retail Podcast this week and spoke about Bluestone's strategy and future ambitions. Part of the thesis behind Bluesto...
Aug 03, 2023•40 min
Correction: At the top of the episode we erroneously say that the cause of the Daily Harvest recall was "manufactured derived bacteria." The actual cause was from the ingredient tara flour, with which customers had adverse reactions. On this week's Modern Retail Rundown, we discuss a report by Bloomberg detailing how Daily Harvest handled its recall last year. Next, a look at Bud Light’s decline as America’s favorite beer in light of the company's latest controversies. Lastly, governments are in...
Jul 29, 2023•30 min
For high-end bedding brand Boll & Branch, the secret to growth has been on direct sourcing and keeping profitability always in mind. That's according to founder and CEO Scott Tannen. Boll & Branch first launched in 2014, and is currently bringing in more than $200 million in revenue a year. He chalks up this success to the way he built out his supply chain. While most DTC companies claim to cut out the middleman, Boll & Branch doesn't merely go to the manufacturers to make sheets. In...
Jul 27, 2023•33 min
On this week's Modern Retail Rundown, we begin with a discussion of a new Wall Street Journal report dissecting how DTC footwear company Allbirds lost its way. Next, we take a look at the latest acquisition headlines. Over the past week, Keurig Dr. Pepper announced a $300 million investment in exchange for 33% equity in coffee company La Colombe. And on the direct-to-consumer side, the 6-year-old intimates brand Cuup has sold to FullBeauty Brands, which also recently bought the plus-size fashion...
Jul 22, 2023•28 min
For Solo Brands, being DTC represents more of a state of mind than it does an exclusive sales channel. "A lot of people have in the last five years equated DTC to e-commerce," said John Merris, CEO of the portfolio company that owns Solo Stove, Oru Kayak and Chubbies, among other brands. "We believe that direct-to-consumer is focused on the relationship… All direct-to-consumer is actually talking about is a brand's ability to connect with its consumers." That thesis has translated to Solo owning...
Jul 20, 2023•36 min
On this week’s Modern Retail Rundown, we give a recap of the influencer-led Amazon's Prime Day, which for the first time included deals on travel. Next is a look at the fallout a UPS strike can have, and the impact it can have on online retailers and brands' fulfillment. Lastly, we talk energy drinks backlash in light of Logan Paul's Prime facing an FDA investigation into its caffeine content.
Jul 15, 2023•27 min
Shein has been around for nearly a decade, but we're just beginning to learn more about the brand now. Over the last two years, the e-commerce platform has taken the world by storm. In 2021, it caught most people by surprise when it became the most downloaded U.S. iPhone shopping app. Today, it is the number three top app on App Store. But with this rise to fame has come a lot of questions. For one, Shein is largely known as a seller of fast-fashion apparel. Its products are cheap, and it sells ...
Jul 13, 2023•32 min
This week's Modern Retail Rundown starts out with a discussion about brands rushing to Threads. Then, we dive into the state of homeware retail in light of The Christmas Tree Shops going out of business. Finally, the show discusses why Claire's is putting off its IPO after revamping its business for Gen Z. News links: https://techcrunch.com/2023/07/06/threads-wont-be-fun-but-it-will-give-brands-a-home-away-from-twitter/ https://www.npr.org/2023/07/03/1185809716/christmas-tree-shops-liquidate-sto...
Jul 08, 2023•26 min
For frozen food startups, direct-to-consumer is a difficult channel to make work. But for MìLà, which makes food products like Chinese soup dumplings and noodles, being able to ship directly to customers is a core part of its business strategy. "DTC is very important to us because we do have a direct connection to our customers," said Jennifer Liao, co-founder and president of MìLà. She joined this week's Modern Retail Podcast to talk about the brand's growth. MìLà began as a Chinese food restau...
Jul 06, 2023•37 min
Tattoo care brand Mad Rabbit has a mission to make a growing niche of body care mainstream. The company, which first launched in 2019, makes products for people with tattoos. That includes body washes, balms and other aftercare needed to make sure the ink doesn't fade. And while it's recorded large sales growth year-over-year, seeing over 100% sales growth over the last two years (with the help of an appearance and subsequent deal on the show "Shark Tank"), it believes mass retail is the next ar...
Jun 29, 2023•33 min
This week’s Modern Retail Rundown starts off with a check-in on Daily Harvest and its planned retail launch, following a tumultuous year of lawsuits. Next, a look at TikTok testing a digital store selling its own products. Lastly, we discuss a Wall Street Journal story about the changing return policies among online retailers — and how it’s impacting shoppers’ behaviors. Stories cited: https://www.fastcompany.com/90908456/daily-harvest-food-startup-toxic-tara-flour-recall https://www.businessins...
Jun 24, 2023•22 min
"International foods are having a moment," said Miguel Leal, co-founder and CEO of Somos Foods. Indeed, that's the thesis of his startup, which makes Mexican food products currently sold in over 6,000 stores including Whole Foods and H-E-B. The company has been around for two years and sells products like chips, salsas as well as rice and bean packs. It first started as an online brand but quickly realized that the way to grow a brand like his is by zeroing in on grocery distribution. "Life was ...
Jun 22, 2023•34 min
On this week's Modern Retail Rundown, we discuss why Amazon is not including shopping app Temu in its competitive pricing algorithm. Then, a look into the state of food delivery apps in the wake of reported layoffs at Grubhub. Finally, we look into the news that Instant Brands -- the maker of the Instant Pot -- is filing for bankruptcy. News cited: https://www.reuters.com/business/retail-consumer/price-war-amazon-excludes-rival-temu-competitive-price-checks-2023-06-13/ https://www.wsj.com/articl...
Jun 17, 2023•29 min
Athleticwear brand Legends wants to be the Lululemon of professional sports. The company -- which sells products like basketball shorts, swim trunks and athletic tees -- launched in 2019 with a slew of professional athlete investors. Since then, the company has brought on more influencers to its program and -- thanks to these partners -- has seen sales consistently grow, even though it hasn't focused much on organic marketing. In 2020, the company made about $10 million, and that grew the follow...
Jun 15, 2023•33 min
In this week’s episode of the Modern Retail Rundown, our staff dissects all various changes and announcements coming out of the retail industry. First we start with the news that Nike is walking back the decision to sever ties with previous wholesale partners like DSW and Macy’s. Next, an announcement of GameStop CEO’s firing — and replacement with board member Ryan Cohen as executive chairman — has rattled up the company’s passionate shareholders. Lastly is a look at fresh M&A news in the D...
Jun 10, 2023•29 min
Kids' apparel brand Hanna Andersson is four decades old but in the midst of a huge business transformation. In 2019, it decided to close all of its stores and focus solely on its online business. The company says this strategic shift has helped stay focus and grow in new ways. "We're 100% direct to consumer and are frankly much more profitable because of that -- and, honestly, much more attuned to our customers in anticipating their needs," said Aimée Lapic, CEO of Hanna Andersson. She joined th...
Jun 08, 2023•33 min
This week's Modern Retail Rundown starts out with an analysis on why digital fast fashion players like Shein and Temu lose money on orders despite their popularity. Next, recent earnings reports show that dollar store chains like Dollar General and Dollar Tree are struggling as customers cut back on spending. Finally, we take a look at big companies like PepsiCo. continuously raising prices to increase profits, even as product demand declines. Stories cited: https://www.wsj.com/articles/fast-fas...
Jun 03, 2023•27 min
Collars & Co is trying to create a new category that's one part casual and one part dressy. The two-year-old apparel startup makes a collared polo shirt, along with other items, and targets predominately well-to-do males. It first got its start on TikTok, but an appearance and subsequent deal on Shark Tank led to a huge increase in sales. "We saw about a 400% increase in the number of visitors," the night after the episode aired, said Justin Baer, founder and CEO of Collars & Co. "I thin...
Jun 01, 2023•30 min
This week's Modern Retail Rundown begins with a discussion about why retailers like URBN and Kohl's are thriving while other apparel players are struggling at the moment. Next is an overview of Meta’s record $1.3 billion privacy lawsuit filed by European Union regulators, as a means to crack down on Facebook's user data sharing. Lastly, we talk about how TikTok Shop is generating buzz among live commerce audiences in Southeast Asia.
May 27, 2023•31 min
Parachute doesn't look or feel anything like a Bed Bath & Beyond, but founder and CEO Ariel Kaye thinks her brand represents the next wave of home goods retailers. The stores are certainly smaller and more curated -- and they are focused much more on the experiential than pure conversion. But Parachute is focused on utilizing its growing store base as a way to bring in more customers and become a household name. Kaye joined Modern Retail to speak about her company's ambitions and strategies....
May 25, 2023•33 min
Earnings season has arrived — and the Modern Retail Rundown dove into all the details. On this week's show, in which the Modern Retail staff discuss the week's biggest industry headlines, we looked at the results of Home Depot, Target and Walmart -- and what they mean for the year ahead. Then, we talk about some new numbers revealed about Instacart's advertising business. Lastly, we discuss Shein's most recent funding.
May 20, 2023•29 min
Spritz Society rose to fame because of its influencer founder, but the sparkling wine brand is now trying to transcend that. Ben Soffer, perhaps best known on Instagram as the Boy With No Job, ironically does have a job -- he's an alcohol entrepreneur selling canned drinks both online and in over 400 stores in eight states. Soffer is now focused on expanding Spritz Society's wholesale presence and making his company a brand beyond its social media roots. "If you have a community, then you can ge...
May 18, 2023•32 min
This week's Modern Retail Rundown features an analysis on Warby Parker and Allbirds’ latest quarterly earnings, which show mixed revenue results and losses. Next we give an overview of Tempur Sealy’s acquisition of Mattress Firm, and what it could mean for the overall mattress segment. Finally, we discuss a new story showcasing the way suburban shopping centers are thriving, thanks to hybrid work schedules.
May 13, 2023•26 min
For most brands, going to market only being able to sell a few hundred units because of supply chain headaches sounds like a nightmare. But for Windmill, which sells both air conditioners and HVAC filters, this turned into marketing gold. The company first launched in the summer of 2020. "[We] had a really awesome launch plan for 2020 that we had to scrap," said co-founder Mike Mayer. "And so we couldn't get units from the factory to the U.S., just given all the complications in the supply chain...
May 11, 2023•34 min
This week's Modern Retail Rundown starts with an overview of Shopify’s renewed focus on being an e-commerce solution provider, as the company sells off its logistics business. Next, we check in on the state of 15-minute delivery apps, in light of Getir's latest European acquisition. Lastly, a discussion of why Peloton is betting on digital fitness as a long-term revenue stream.
May 06, 2023•25 min
Ebay may be decades old, but the company is still trying to iterate as if it were a startup. "We're still a work in progress, there's still a lot more that we need to change," said Eddie Garcia, eBay's chief product officer. He joined the Modern Retail Podcast this week and spoke about his priorities, and the way the marketplace landscape has evolved. Garcia is an eBay boomerang. He first started working for the company in 2003 and then left in 2014 to work at other companies like Sam's Club and...
May 04, 2023•29 min
This week on the Modern Retail Rundown begins with a quick update on Bed Bath & Beyond's closures. Then an overview of Amazon’s latest earnings, which include $9.5 billion in ad revenue. Next up is a look at the state of fast casual dining, and why chains like Chipotle and Subway are thriving despite inflation. Finally, we discuss Target's longtime investment in curbside fulfillment, with the latest iteration giving shoppers the ability to return items curbside.
Apr 29, 2023•23 min
