Jessica Alba to step down

Alba reflects on her journey at The Honest Company.

April 12, 2024

Greetings to the vibrant Retailist family! 🌟 As we edge closer to the eagerly awaited weekend, the dynamic spheres of e-commerce, retail, and Direct-to-Consumer (DTC) are abuzz with enthusiasm. The previous week has overflowed with an array of news, groundbreaking trends, and innovative developments within our cherished sector. With such a wealth of information and insights at our fingertips, are you all set to embark on a journey through the most captivating stories that have emerged? Let's venture into these exciting narratives and uncover what they hold for us!


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In the news: Top headlines this week

Jessica Alba to step down as chief creative officer of The Honest Company. Jessica Alba is stepping down as Chief Creative Officer of The Honest Company but will continue to serve as a board member, signaling confidence in the brand's positive trajectory under its current leadership. The company, having undergone a significant turnaround period as described by CFO Dave Loretta, anticipates continued financial improvement. Alba reflects on her journey with Honest as a "labor of love" and a transformative experience, emphasizing her belief in the leadership team's ability to further her founding vision and maintain the brand's role as an industry changemaker. [Retail Dive]

How Chick-fil-A is so successful, selling nearly 5 times as much per restaurant as Taco Bell. Chick-fil-A leads the fast food industry in average restaurant sales, outperforming competitors with stand-alone restaurants averaging $9.3 million in sales last year. This figure is significantly higher than McDonald's and Taco Bell, with Chick-fil-A's sales more than doubling McDonald's $3.7 million and nearly quintupling Taco Bell's $1.9 million, as reported by Technomic. The success of Chick-fil-A is largely attributed to the popularity of its signature fried chicken filets and buttery buns. [Business Insider]

Nike pins hopes on Olympics to win back market share. Nike is leveraging the upcoming Paris Olympic Games as a pivotal opportunity to reclaim market share, showcasing its Olympic kits and elite athletes like Eliud Kipchoge and Dina Asher-Smith to spotlight its performance gear, including the Alphafly 3 marathon shoe. Amid a period of sluggish sales, Nike aims to captivate global audiences with its innovative products while dressing U.S., Canadian, Chinese, Kenyan, German, and Ugandan athletics teams, among others, in various sports. While the focus is on high-end footwear, Nike's broader strategy targets boosting sales of entry-level and mid-range running shoes, exemplified by the promotion of its Pegasus shoe range. [Reuters]

These 10 retail brands are the fastest growing in the U.S., Yelp says. According to a recent Yelp report, chains owned by publicly traded restaurant companies make up half of the top 10 fastest-growing retail brands in the U.S. for the last year. Yelp determined this ranking by considering a mix of factors, including net new openings and consumer engagement on its platform through searches, page visits, photo postings, and reviews from 2022 to 2023. Among the 50 fastest-growing chains identified in the report, 35 are restaurant brands, highlighting the significant expansion and consumer interest in the dining sector. [CNBC]

Knix launches mesh collection. Knix has introduced a new mesh collection as part of its effort to blend sexiness with functionality, featuring global brand ambassador Gabrielle Union. The collection includes leakproof period underwear capable of absorbing the equivalent of 1.5 regular tampons, sheer mesh bras with adjustable straps and wireless support in sizes ranging from XS to XXXXL, and a versatile bodysuit with double mesh paneling. This launch aligns with founder Joanna Griffiths' vision of a diverse and inclusive brand that challenges the conventional one-dimensional underwear market. [Retail Dive]

Puma hones focus on speed in Olympic battle with Adidas and Nike. In the competitive landscape of sportswear, Puma is sharpening its focus on speed for this year's Olympic Games by leveraging its partnership with the Jamaican sprint team, positioning itself against giants Adidas and Nike. Puma's CEO, Arne Freundt, is spearheading efforts to elevate sales of performance gear through a revitalized "Forever Faster" campaign, highlighting top athletes and emphasizing the brand's association with speed and excellence in running. This strategic move is aimed at attracting both casual and dedicated runners, capitalizing on the visibility and prestige of sponsoring high-profile athletes and the Jamaican Olympic team. [Reuters]

Zulily To Reopen After Being Acquired For $4.5 Million By Beyond. Beyond Inc., formerly known as Overstock.com, has purchased the intellectual property assets of the online retailer Zulily for $4.5 million in cash, marking Zulily's third corporate transition after its ventures with Qurate and Regent. Zulily will be integrated into Beyond's Overstock division, an off-price segment that is also being revitalized. While no specific relaunch date for Zulily has been announced, Beyond's efficient revival of Bed Bath and Beyond online within three months suggests that Zulily's comeback might be swift. [Forbes]

Planters Is Looking To Hire Drivers for the NUTmobile. Planters is recruiting drivers, dubbed "Peanutters," for a year-long journey from June 2024 to June 2025, where they'll drive the iconic NUTmobile across the country, escorting Mr. Peanut to various events. This unique role not only involves navigating the 26-foot-long vehicle through potential traffic challenges but also acting as brand ambassadors, engaging with communities to spread the Planters spirit. Marketing Director Patrick Horbas highlighted the company's enthusiasm for welcoming the third class of Peanutters, emphasizing the role's significance in promoting the brand's joyful image. [Retail Wire]

Best Buy to use generative AI for virtual assistant, customer support experiences. Best Buy is integrating generative AI into its customer service operations, aiming to improve virtual assistant and customer support experiences by addressing product troubleshooting, software management, and order delivery scheduling. This initiative is in collaboration with Google and Accenture, building on Best Buy's previous partnerships with Google in various domains. Brian Tilzer, Best Buy's chief digital analytics and technology officer, emphasizes that this move will enhance personalized customer interactions and streamline employees' tasks, leveraging the strengths of their partnerships with Google and Accenture. [Retail Dive]

Grocery giants including Tesco, Woolworths team up to launch $125 million VC fund. Leading supermarket chains such as Tesco, Woolworths Group, and Shoprite have established a $125 million venture capital fund, W23 Global, aimed at fostering retail innovation. This five-year initiative will focus on investing in startups and scale-ups that leverage technology to enhance consumer experiences both in-store and online, with a keen interest in transforming the grocery value chain and promoting sustainability. The fund, supported equally by each participating retailer including Ahold Delhaize and Empire Company, seeks to drive significant advancements in grocery and sustainability globally, as emphasized by W23 Global's CEO, Ingrid Maes. [Reuters]

The rise and fall of Allbirds: The sneaker company whose stock went from IPO darling to trading below $1. Allbirds, once celebrated as an IPO darling and a symbol of sustainable fashion, has encountered significant financial challenges, culminating in a net loss of $152.5 million over the last fiscal year. Following a period of disappointing earnings, the company's stock price dropped below $1 for 30 consecutive days, placing it at risk of being delisted from the Nasdaq exchange. This downturn marks a dramatic shift for a brand that was initially embraced by tech enthusiasts and venture capitalists for its eco-friendly footwear. [Business Insider]

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Retailist Magazine is an outlet focused on modern commerce as it relates to digital innovation. The publication examines our culture’s ever-evolving relationship with marketing, commerce and traditional retail. Our goal is to connect our audience to quality content and award programs for retail brands to tell their story of innovation.

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