Accessory brand Ridge, best known for its wallets, is getting closer and closer to a $1 billion exit. CEO Sean Frank has been saying this for years but thinks the option may come sooner rather than later. "If I want to sell for $1 billion, you need $100 million in adjusted EBITA, or we need roughly $50 million in net income," he said. "I think next year, we'll probably get to $50 million in net income." Frank joined the Modern Retail Podcast and spoke about the company's growth as well as the st...
Mar 21, 2024•43 min
This week on the Modern Retail Rundown: The Body Shop filed for bankruptcy and announced it's closing down all U.S. operations. In a surprise move, Outdoor Voices is also closing all its stores -- with plans to remain an online-only DTC brand. This week also saw a number of C-suite shakeups across apparel and footwear, including Allbirds and Under Armour announcing new CEOs.
Mar 16, 2024•28 min
Rocco is a DTC mini-fridge company that wants to make people care about the big hunks of steel electronics they have in their homes. "Appliance brands don't actually have a brand," said Alyse Borkan, co-founder of Rocco. "I really saw an opportunity to do things differently than [what] the rest of the category was doing." Borkan joined this week's Modern Retail Podcast and spoke about her new brand and how she's hoping to compete with the big players like Frigidaire. Rocco launched last November...
Mar 14, 2024•31 min
This week's Modern Retail Rundown show kicks off with a breakdown of Harry's long road to IPO, with the company reportedly filing to go public years after previous acquisition plans fell through. Meanwhile, furniture retailer Ashley announced it's acquiring Resident Home, a mattress group whose brands include DTC companies Nectar, DreamCloud, Awara and Siena. Abercrombie & Fitch, on the other hand, is projected to bring in $5 billion in annual revenue by growing its young customer base inter...
Mar 09, 2024•29 min
Sustainability has become such a big buzzword in retail, but Époque Evolution co-founder Nancy Taylor thinks there's a better word for the work that needs to be done. "I was truly passionate about trying to do things in the responsible way," she said. "So we took the word sustainable out of it and we used the word responsible." That word has guided the Époque Evolution business since it launched in 2018 as a direct-to-consumer fashion brand. Her company was acquired by the Montreal-based Lolë, b...
Mar 07, 2024•31 min
This week’s Modern Retail Rundown includes a breakdown of Thrasio's bankruptcy protection filing and the future of the Amazon aggregator's business model. Additionally, Warby Parker wants to eventually open 900 stores as the digitally-native brand has leaned on physical retail for growth. Last, we chat about Celsius Drinks' milestone of becoming a billion billion-dollar energy drink company.
Mar 02, 2024•30 min
In Shannon Nash's opinion, 2024 is the "year of the drone." Nash may be biased, as she's the CFO of Wing, the Alphabet-owned drone delivery company that's currently being trialed by companies like Walmart and DoorDash. But there is some data to back this up. For one, Wing announced an expanded partnership with Walmart in the Dallas/Fort Worth area. What's more, recent changes to FAA regulations will likely make it easier for the company to test out other areas. Nash joined this week's Modern Ret...
Feb 29, 2024•35 min
Every week on the Modern Retail Rundown, we cover the latest headlines from the retail world. This week, the team discusses Reddit’s S-1 drop, meaning the social platform -- which launched in 2005 -- is finally going public after years of speculation. Also, a look at Beyond Meat’s new game plan to turn around weak sales, which includes launching lower fat, higher protein products faux meat burgers and scaling back China operations. Lastly, an update on Macy’s proxy fight by activist investor Ark...
Feb 24, 2024•28 min
True, Taylor Swift made friendship bracelets popular thanks to her song "You're on your own, kid." But the brand Little Words Project has been making friendship bracelets long before Swifties adopted them in full force. Little Words Project launched in 2013 as a quasi-side hustle of founder Adriana Carrig. But the project soon turned into a standalone business. Fast forward to today, Little Words Project has 12 stores around the U.S., is profitable and has hit a revenue run rate of over $20 mill...
Feb 22, 2024•37 min
Every week on the Modern Retail Rundown, we cover the latest headlines from the retail world. On this week’s show, we take a look at Express’ financial status in light of mounting debt and potential bankruptcy reports. Next, online returns rate continue growing among retailers – as highlighted by a story in The Cut this week -- and it's leading some brands to ban shoppers with a penchant for returning products. Finally, Walmart is reportedly interested in buying Vizio -- which could mean more co...
Feb 17, 2024•29 min
The Goods Mart is trying to update the convenience store experience while not falling into the trappings of the so-called shoppy shops.| The store -- which first launched in 2018 and currently has three different locations in Manhattan -- features a variety of better-for-you snacks like snack bars, coffee and other beverages. The locations are very small. Some are only 400 square feet. The idea is to create a new type of quick-service store that may look updated with startup brands, but services...
Feb 15, 2024•35 min
Every week on the Modern Retail Rundown, we cover the latest headlines from the retail world. This week Gap Inc. announced it’s bringing on designer Zac Posen as creative director to help revamp its brands, with a big focus on Old Navy. Next, a look at why Target is currently weighing a new Walmart+-like membership program to attract more loyalty, according to a Bloomberg report. Finally, Tapestry, the owner of Coach, Kate Spade and Stuart Weitzman, posted some positive results in its most recen...
Feb 10, 2024•26 min
The baby product retail landscape has changed dramatically over the last decade, and Dutch design brand Bugaboo is making sure it's keeping up with the trends. Bugaboo, which first launched in 1999, is best known for its higher-end strollers, but the brand makes others products like car seats, high chairs and play yards. And while Bugaboo has been sold in the U.S. for decades, North American expansion is a major priority. Jeanelle Teves, Bugaboo's chief commercial officer, is leading this charge...
Feb 08, 2024•35 min
Every week on the Modern Retail Rundown, we cover the latest headlines from the retail world. First is a look at the sudden departure of H&M’s chief executive officer, who cited the demanding nature of the job. Next, TikTok is reportedly testing a video feature that shows users similar products sold in TikTok Shop -- hinting at an increased focus on growing e-commerce. Finally, why Amazon’s advertising business continued to grow during the fourth quarter -- surging 27% year-over-year, to $14...
Feb 03, 2024•29 min
Misfits Market thinks it has found a unique way to tackle the difficult business that is online grocery. The company, which acquired Imperfect Foods over a year ago, has a pretty simple premise. It partners with farms and brands, and sells products that otherwise wouldn't hit major retail shelves. The name of the game for this type of business is scale, which is something COO Corey Farrell is constantly thinking about. But the ethos behind Misfits is sustainability. "We wanted to be able to offe...
Feb 01, 2024•29 min
This week on the Modern Retail Rundown, the editorial staff looks into big retail changes afoot. First, we analyze why Macy's ultimately rejected a $5.1 billion takeover bid from Arkhouse Management and Brigade Capital Management. Then, a discussion about Solo Stove's flashy advertising campaign with Snoop Dogg, and why the marketing world is debating its merits. Finally, we discuss Etsy's proposed plans to allegedly advertise during the Super Bowl and what it means for sellers and shoppers alik...
Jan 27, 2024•30 min
SharkNinja -- the company behind the Shark and Ninja household product brands -- sees TikTok as the late-night infomercial. The company has been around since the '90s, but has spent the last two decades specifically growing out its product catalog and finding new channels for marketing. Leading this charge is CEO Mark Barrocas, who joined the company in 2008 as president. Back then, SharkNinja -- then called Euro-Pro -- had fewer products and was mostly known as the brand behind items sold via l...
Jan 25, 2024•34 min
On this episode of the Modern Retail Rundown, the editorial staff breaks down the retail industry’s biggest stories. This week things kicked off with NRF's Big Show, covering themes like AI, inventory management and the American consumer's mindset. Meanwhile, Kristen Bell and Dax Shepherd's baby brand Hello Bello is set to be revived by its new owner, after the brand named a new CEO this week. Finally, a look at the much-needed holiday sales growth retailers saw in December, as indicated by new ...
Jan 20, 2024•26 min
AriZona Iced Tea is a ubiquitous product in the U.S., but you didn't learn about it because of a flashy ad campaign. "We have never had a billboard," proclaimed AriZona Beverage Company's CEO Abid Rizvi. "I will say this with almost 100% confidence: you will never see an AriZona billboard in Times Square." Instead, the way AriZona has marketed itself is by simply having a presence at the store. AriZona judges its products on three dimensions: does a product look good? Does it taste good? And is ...
Jan 18, 2024•37 min
This week on the Modern Retail Rundown: Nike announced the surprising departure of its COO Andy Campion, alongside the end of its longterm partnership with golf star Tiger Woods. Similarly, rental service Rent the Runway is also restructuring -- with its COO also leaving and the company laying off 10% of its employees as it tries to improve the business. Finally, industry watchers expect to see more direct-to-consumer exits in 2024 as more founders look to sell their companies.
Jan 13, 2024•28 min
Jolie launched with the thesis that it could convince people that a shower head is a wellness product. The bet seems to have worked. The company, which says it is profitable, is about three years old and brought in more than $25 million in revenue in 2023. Co-founder and CEO Ryan Babenzien credits two things with its success: an ardent fan base that evangelized the brand and a growing omnichannel strategy. Babenzien joined the Modern Retail Podcast this week and spoke about Jolie's growth and fu...
Jan 11, 2024•34 min
This week on the Modern Retail Rundown: First, an overview of major CPGs like PepsiCo and retailers like Target receiving backlash for relentlessly raising prices the past few years. Then, a new report says that Shein and Temu's suppliers are being squeezed, experiencing thin margins and pressure to cut prices. Finally, Peloton's latest turnaround strategy includes launching content on TikTok.
Jan 06, 2024•31 min
In a world of DTC booms and busts, Bombas has remained a rare constant. The brand, best known for its socks, launched in 2013 as an online-only brand and has consistently grown since then. Today, it brings in over $300 million a year, and while e-commerce remains one of its major revenue channels, it has expanded into stores like Dick's Sporting Goods and Nordstrom. According to co-founders David Heath and Randy Goldberg, the key to Bombas's success has been in staying focused on its core compet...
Jan 04, 2024•47 min
The retail world changed a lot in the last twelve months. Some companies launched, others went bankrupt. Several brands expanded while more than a few contracted. This week on the Modern Retail Podcast, we decided to look back at the biggest themes we observed this year. Host Cale Guthrie Weissman is joined by senior reporters Melissa Daniels and Gabriela Barkho. The three discuss major trends they saw in 2023 and what it means for the year to come. These include the rise in retail bankruptcies,...
Dec 28, 2023•42 min
This week on the Modern Retail Rundown, the team dives into reports of the current political climate impacting holiday sales; Ikea warned of product delays due to Houthi rebel attacks in the Red Sea and VF Corp experienced a major cyberattack. Elsewhere, Rite Aid is being hit with a lawsuit by the FTC over alleged misuse of facial recognition technology at its stores. Lastly, this holiday season more people are shopping for pre-owned gifts according to a new Salesforce report.
Dec 23, 2023•21 min
Most people say the subscription box era is over. Then there's ButcherBox. The Boston-based meat subscription company has been bootstrapped since it launched in 2015. The company is profitable. And it continues to grow -- it brought in more than $600 million of revenue in 2022. What made ButcherBox work for the first eight years was its scrappy mentality -- one that focused on profitable growth. Now, the company is reaching its adolescence and brought in a veteran marketer to lead the charge. Ki...
Dec 21, 2023•30 min
On this week's Modern Retail Rundown, Arkhouse Management and asset manager Brigade Capital Management made a $5.8 billion bid to take Macy's private. In addition, Etsy announced a series of cost-cutting initiatives, including laying off 11% of staff and consolidating positions like its chief marketing officer. Meanwhile, luxury e-commerce platform Farfetch is reportedly looking for a lifeline as it struggles to survive under mounting debts.
Dec 16, 2023•26 min
The DTC pots and pans market is crowded, to say the least. But one early entrant continues to grow. HexClad was founded in 2016 with the then-bizarre idea that people would be willing to buy their cookware online rather than from major brick-and-mortar retailers like Williams-Sonoma. The bet paid off -- this year, HexClad is on track to exceed $350 million in revenue and has high-profile business partners like celebrity chef Gordon Ramsay. But it took some time to get people to warm up to the id...
Dec 14, 2023•34 min
On this week's Modern Retail Rundown, we start by pondering the use cases for 0% alcohol hard seltzer, then move into Amazon leaning into more affordable apparel as retailers face the reality of competing with Shein and Temu. Finally, following months of retailers blaming poor performances on theft, reports show NRF's retail crime claims to be overblown.
Dec 09, 2023•26 min
FirstBuild is the arm of GE Appliances where inventors actually get to invent things. It's a division of the behemoth corporation that aims to come up with new types of gadgets, test their viability and then bring them into the world. And it operates independently of its parent, GE Appliances, and uses community building and crowdfunding to get projects off the ground. Some of its most popular products include a nugget ice maker and countertop pizza oven. So, how such a division exist within suc...
Dec 07, 2023•36 min
