It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week, and what we’re still thinking about.
From the official launch of Beyoncé’s Cécred brand to Build-A-Bear’s leap year promotion, here’s our closeout for the week.
What you may have missed
Mattel crowns queen of the dolls
Mattel on Tuesday announced that the company promoted Krista Berger to senior vice president of Barbie and head of dolls.
Berger, who has been with Mattel for 15 years, is credited with playing a “pivotal role” in the re-establishment of Barbie as “the #1 global doll property,” according to the company. She most recently served as the vice president of American Girl marketing, partnerships, content development and sales.
Berger will report to Chief Brand Officer Lisa McKnight.
Beyoncé’s Cécred drops first collection
Beyoncé Knowles-Carter on Tuesday announced new hair care line Cécred. The brand is launching with eight products, dubbed the Foundation Collection, according to a company press release. The artist first announced the brand on Feb. 6 with a post to her Instagram account. Products in the singer’s line include Cécred’s patent-pending Bioactive Keratin Ferment, made from wool-derived keratin, honey and lactobacillus ferment.
“My entire life and career, I've worn my hair in so many different ways: natural, flat-ironed, braids, colored, weaves, wigs,” Knowles-Carter said in a statement. “I want everyone to have the freedom to express their hair in ways that make them feel good, so I began by creating the essentials for hair and scalp health. My vision is to be an inclusive force of excellence in the haircare industry while celebrating hair rituals across global cultures and helping dispel hair myths and misconceptions on all sides."
Other items that are part of the release include shampoos, conditioner, a hair mask, and a fermented rice and rose protein ritual and range in price from $20 to $52.
Victoria’s Secret creates first collaborative label with Frankies Bikinis
Victoria’s Secret Pink and Frankies Bikinis this week announced they have partnered on their first collaborative label, Pink by Frankies Bikinis.
The collection features multiple product drops exclusively sold at Victoria’s Secret Pink stores and online. The resulting designs blend Pink’s classic swimwear silhouettes with signature Frankies Bikinis styles, the company said in an email to Retail Dive. The collab also includes apparel like satin mini dresses, lace sets, maxi dresses and loungewear. Prices range from $24.95 to $59.95 and come in sizes XS to XXL.
In 2022, Victoria’s Secret took an $18 million dollar minority stake in beachwear brand Frankies Bikinis.
Retail therapy
KFC combines fried chicken and pizza
Just when you thought things couldn’t get any weirder, KFC is introducing “Chizza” to U.S. menus beginning Monday for a limited time, according to a company press release. Chizza consists of two KFC fried chicken filets topped with marinara sauce, mozzarella and pepperoni. The unlikely food combination was first introduced to the Philippines in 2015.
As a part of the release, KFC is hosting a Chizzeria pop-up at its 242 E 14th St. location in New York City on Friday and Saturday where customers can try a free Chizza.
Leap into fun four years in the making
Build-A-Bear Workshop has a deal for you if you’re one of the approximately 200,000 Americans with a leap-year birthday. The retailer is offering an opportunity to pack four years of celebration into one day on Feb. 29 by building a Birthday Treat Bear for $4 at participating stores (the regular price is $14).
The limited-time promotion is an extension of the company’s pay-your-age offer under where kids can buy a teddy bear during their birthday month for the cost of the age they are turning, the company said in an announcement.
“We understand the rarity of being born on leap day, and we wanted to extend a special gesture for those who celebrate on their special day once every four years," President and CEO Sharon Price John said in an announcement.
What we’re still thinking about
13%
That’s how much of Meati Foods’ workforce is being impacted by layoffs, the company announced earlier this week. The staff cuts follow another round of layoffs from September that impacted 60 roles, or 10% of its workforce.
At the same time, the company appointed Phil Graves — who at the start of the month was named Meati’s CFO — as its next CEO.
The mycelium meat analog maker has attracted the attention — and investments — of Derek Jeter, Aly Raisman, Chris Paul and Rachael Ray.
$2.3 billion
That’s how much Walmart plans to spend to acquire smart TV maker Vizio and gain access to its SmartCast operating system. The move is aimed at accelerating Walmart Connect, the mass merchant’s retail media network.
The announcement came as Walmart reported fourth-quarter earnings results, which included revenue increasing 5.7% year over year to $173.4 billion.
What we’re watching
What will VF Corp. look like in a year?
VF Corp.’s current portfolio may not last the year. The company earlier this month indicated it would be reviewing its brand assets — and a recent downgrade from S&P Global Ratings suggested a sale of at least one, if not two, of its brands is likely.
S&P analysts noted the retailer’s $6 billion debt load and said the apparel conglomerate might have to sell off “sizeable brands” in order to reduce its leverage. The company’s main brands include The North Face, Timberland, Dickies and Vans, all of which posted double-digit declines in the latest quarter. VF also owns streetwear brand Supreme, which it bought for $2.1 billion in 2020.
What the apparel conglomerate could sell is less certain, though some analysts have suggested Dickies or Timberland are the most likely.
“While this will allow the company to reduce its high debt burden faster, it also reduces its brand diversity and puts more pressure on the remaining underperforming brands to turn around,” S&P said of the potential move.
