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 LeBron James partnering with Fanatics to beauty brands ushering in new CEOs, here’s our closeout for the week.
What you may have missed
LeBron James becomes a Fanatic
LeBron James and Fanatics on Wednesday announced an exclusive, multi-year trading card partnership where James will join the company’s trading card and collectibles division.
A duel-autographed card featuring James and his son Bronny James will be included in the 2023-2024 Bowman University Chrome Basketball set and will be sold starting Jan. 19, according to a company press release.
“As someone who appreciates all the moments — big and small — along the journey, I’m excited to share more with my fans through this partnership with Fanatics,” James said in a statement.
Beauty brands welcome fresh leadership
To kick off the new year, a number of beauty companies have announced new CEOs.
Orveon — a collective of Laura Mercier, BareMinerals and Buxom — this week appointed Neela Montgomery as its CEO, effective Jan. 18. Montgomery comes with extensive retail experience, serving as CEO of Crate and Barrel and president of CVS Health.
Also this week, L’Occitane Group announced the responsibilities of the CEO and Group Managing Director will be combined into one role, effective April 1. Acting CEO André Hoffmann has decided to step down from the position, while remaining an executive director and board member. Current Group Managing Director Laurent Marteau has been appointed CEO. Marteau has over 20 years of experience in the beauty industry, including at companies like LVMH and La Prairie Group.
And Juice Beauty on Wednesday announced founder Karen Behnke is stepping down as CEO, with Lance Patterson succeeding her. Patterson was most recently CEO of beauty brand Kate Sommerville where he helped drive strong year-over-year sales in 2023 as a result of creating a new marketing strategy.
Lowe’s introduces a loyalty program aimed at DIY customers
Lowe’s unveiled a three-tiered rewards loyalty program on Wednesday designed for DIY-lovers dubbed MyLowe’s Rewards, according to a press release. All shoppers in the loyalty program receive free standard shipping, earn points towards MyLowe’s Money, free member-only gifts, exclusive offers, free Lowe’s DIY-U workshops, early sales notifications and a customized in-app experience to track points and receive recommendations. The rewards program is currently available in select regions and goes nationwide in March.
Each customer starts at the “Bronze Key” tier and can work their way to silver and gold. In the first tier, loyalty members earn one point per dollar and free standard shipping on eligible purchases over $35. “Silver Key” members earn 1.25 points and free shipping with no purchase minimum on eligible items. Lastly, “Gold Key” status members earn the same shipping status as the previous tier and 1.5 points per dollar.
"We designed MyLowe's Rewards based on our deep understanding of the DIY customer, particularly millennial homeowners with families," Jen Wilson, Lowe's senior vice president, enterprise brand and marketing, said in a statement.
Retail therapy
Something to chew on
Haribo knows all true artists are fueled by candy. The gummy manufacturer on Thursday announced it had broken the Guinness World Record for largest gummy candy mosaic with a 353-square-foot display of its iconic Goldbear mascot.
The masterpiece took four hours, 300 people and 150,000 Goldbears. Lest other chewy candy enthusiasts get deterred, Haribo has a proposition. Anyone looking to add “gummy mosaic maker” to their list of New Year's resolutions can enter Haribo’s gummy art contest through September this year for a chance to win $5,000 in cash or a year’s supply of Haribo gummies (unclear who defines what a year’s supply is).
It’s already a very good year for gummy lovers: Fellow chewy candy company Hi-Chew also used the first month of the year as a chance to launch a DTC e-commerce platform, as well as a rewards program. Points accrued can be used for — you guessed it — more candy, and exclusive Hi-Chew merchandise.
Who said New Year’s resolutions had to involve less candy?
Build-A-Bear, you handsome devil
With Valentine’s Day just around the corner, Build-A-Bear is releasing a set of adult products aimed at the holiday — with varying degrees of sensuality.
The kids retailer, which has lately been pursuing an adult audience, is selling a “You Turn Me On” gift set featuring a “devilishly cute teddy bear” holding roses, as well as a slew of other Valentine’s Day options. A martini-holding self-proclaimed “zaddy” lion is also up for grabs, as well as a 36-inch devil teddy bear.
“These Valentine's gifts are designed to delight a partner with a playfully romantic gesture, make a Galentine smile with a cheeky message, or induce a blush from your crush over a plush,” the company said in a press release.
Ditch the chocolate this year and invest in plushy love.
What we’re still thinking about
500
That’s the number of new stores Mango plans to open by 2026. The fashion apparel retailer said it wants to open stores in the U.S., Canada, the U.K., Spain, France, Italy, and India. Mango said in a recent announcement that it expects to have 40 stores in the U.S. by the end of this year.
The company is opening locations in Washington, D.C., and Pennsylvania for the first time. They will join Mango’s existing U.S. locations in New York, Florida, Texas, Georgia and California. Mango also said it has expanded its online sales to 20 new countries and over 110 markets worldwide. Established in Barcelona, this year is the company’s 40th anniversary.
12
That’s how many new stores outdoor retailer REI-Co-op plans to open by 2025.
The company said this week that it plans to open 10 stores this year. They’re located in Beavercreek, Ohio, and Beaverton, Oregon; Glendale, Arizona; Ithaca, New York; Rancho Mirage, California; Albany, New York; and Tulsa, Oklahoma. The locations of three more stores will be announced when contracts are finalized, the company said in an announcement.
Next year, REI said it plans to open stores in St. George, Utah, and Durango, Colorado. The company said it currently has 181 locations and over 16,000 employees in 41 states and Washington, D.C.
What we’re watching
How is Amazon shuffling resources?
This week Amazon laid off “several hundred roles” across its Prime Video and MGM Studios organization, the company confirmed to Retail Dive. It also is reportedly laying off around 500 people in its Twitch livestreaming unit.
Meanwhile, Amazon closed its last remaining Fresh Pickup location in Seattle at the end of last year, around the same time it announced it was closing its brick-and-mortar apparel stores. Amazon has already closed all of its bookstores, 4-star stores and pop-ups.
While the e-commerce giant is pulling back in some areas, it is pushing forward in others, namely in healthcare. This week the company launched a chronic condition management portal, which surfaces eligible benefits for weight management, diabetes and other cardiometabolic conditions.
