Dive Brief:

• In its first U.S.-based large-scale retail deal, wearable health technology company Ōura on Monday announced it will be available through Best Buy online and in 850 stores nationwide, according to a press release.
• The brand’s smart rings — which give users health information about their sleep, activity levels and more — are available in both Heritage and Horizon styles with a variety of color options through the mass retailer. Ring sizing is available in-store and online by ordering a sizing kit.
• Over 250 Best Buy stores will have Ōura inventory for in-store purchases while the remaining stores will offer fast shipping or in-store pickup options. A dedicated store experience for the brand will be at 50 select locations with educational information, dynamic videos and the ability to see a variety of Oura Ring SKUs.  

Dive Insight:

For Ōura, retail expansion is becoming more important.

“Growing ŌURA’s presence in retail has been a long time coming, and we’re thrilled, as leaders in wearable technology, to partner with Best Buy,” Doug Sweeny, Ōura chief marketing officer, said in a statement. “We both value the power of technology to enrich people’s lives, and this partnership allows us to bring ŌURA to life in a dynamic and visual way for a new audience across the country.”    

The wearable tech brand has been partnering with a variety of other companies over the past year.

A limited-edition Oura Ring was made in partnership with luxury brand Gucci in May 2022, and Ōura also partnered with Therabody to sell its products at over 20 locations across the U.S. in October. 

Ōura started a partnership with Japanese retailer Softbank in December to sell its products in seven store locations across Japan and on the Softbank Selection Online Shop. The partnership plans to expand Ōura’s selection to Softbank’s remaining stores throughout 2023. 

At the same time as Ōura enters Best Buy’s locations, the technology retailer is on a path to change its store experiences for customers.

Earlier this month, Best Buy started laying off hundreds of store employees across the country, according to reporting from The Wall Street Journal that cited anonymous sources.

Although Best Buy did not disclose the number of those being laid off, the company did confirm roles have been impacted by store changes being made to help elevate customer experiences. 

“As we shared last month, we’re evolving our stores and the experiences we offer to better reflect the changes in customer shopping behavior, as well as how we organize our teams to ensure we continue to provide our expertise, products and services in the best way possible,” Best Buy said in an emailed statement to Retail Dive.

Best Buy announced in March that it plans to close up to 30 stores this year. On a call with analysts at the time, CEO Corie Barry said the company would also implement eight Experience store remodels and open about 10 new outlet stores. Changes to its store formats and routine maintenance are expected to result in $200 million in capital expenditures.