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 supersized TV’s for the holiday season to Bonobos recruiting Toys R Us’ Geoffrey the Giraffe, here’s our closeout for the week.
What you may have missed
Savage X Fenty opens first store in Florida
Courtesy of Savage X Fenty
Rihanna’s Savage X Fenty on Oct. 18 opened its first store in Florida located at Miami Worldcenter.
The nearly 3,000-square-foot space offers loungewear, lingerie, sleepwear and more in sizes XS to 4X.
“We are thrilled to open our first store in Miami as we continue expanding Savage X Fenty’s retail presence,” Vanessa Wallace, chief marketing officer of Savage X Fenty, said in a statement. “Our goal is to give customers the opportunity to shop and experience the brand on their own terms. With this new store, we aim to offer Miamians additional ways to connect with the brand and explore products firsthand.”
The company in its announcement said the brand will have 14 stores across the U.S. by the end of this year.
Nike extends basketball partnerships
Nike on Monday announced a 12-year extension of its outfitting, merchandising, marketing and content partnership with the NBA, WNBA and NBA G League. The athletic retailer will be the exclusive on-court uniform and apparel provider for those leagues, according to a company announcement.
“Nike is inextricably linked to basketball and has helped fuel the growth and innovation around our sport for decades,” NBA Commissioner Adam Silver said in a statement. “With an added focus on youth basketball, our expanded partnership will create even more opportunities for aspiring players to learn and compete at all levels and for fans of all ages to engage with the NBA and WNBA.”
Bonobos finds a new partner in… Toys R Us?
Courtesy of Bonobos
Menswear brand Bonobos has unveiled a collection featuring none other than Geoffrey the Giraffe. That’s right, the Toys R Us mascot.
The DTC brand announced a partnership with Toys R Us to release an apparel collection featuring the 1988 Geoffrey the Giraffe, including fleece crewnecks and hats for both children and adults.
The limited-edition assortment is available at Bonobos’ Guideshops, its website, select Macy’s stores and on the department store’s website.
While a tie-up between Bonobos and Toys R Us may seem unlikely, they have one thing in common: WHP Global. In 2021, WHP bought a controlling stake in Toys R Us from Tru Kids. And earlier this year, a newly formed entity dubbed Phoenix Retail — which includes WHP, Simon Property Group, Brookfield Properties and Centennial — bought Express and Bonobos out of bankruptcy.
“Our customers have always loved the quirky, clever and humorous personality of Bonobos. This comes as an unexpected surprise for our audiences, especially going into the holiday season,” Krissie Millan, Bonobos chief marketing officer, said in a statement. “We feel this partnership authentically highlights our playful personality while bringing an iconic brand like Toys R Us into the fold.”
Retail therapy
A candy-coated collection by Kate Spade
Kate Spade New York on Wednesday announced a sweet collaboration with M&M’s.
The collection includes an embellished leather 3D crossbody and chain coin purse, a crossbody and packet key fob inspired by the peanut M&M’s packaging and jewelry including bracelets, earrings, necklaces, charms and stackable rings.
“Kate Spade New York has always been rooted in joy through personal style and self-expression, with products that deliver vibrant pops of color, playful patterns and dimensional textures,” Charlotte Warshaw, Kate Spade New York’s vice president of Americas wholesale, global licensing and collaborations, said in a statement. “This iconic collaboration with M&M’S delivers just that and does so in a way that puts front-and-center our Gen Z customer.”
The limited-edition collection will be made available Nov. 1. Fans can purchase the collection at select M&M’s and Kate Spade New York stores, select department stores and online.
Virginia Lowe’s under long-term meownagement
Seven years after first appearing at the store, Francine has consistently drawn customers to a Richmond, Virginia, Lowe’s for photos and hands-on engagement, despite never having formally applied for a job with the company.
Courtesy of Lowe’s
The cat wandered into the store’s outdoor lawn and garden center and has never left, despite having the ability to do so and is welcome to live there as long as she wishes, according to store manager Michael Sida.
Lowe’s associate Nick Myers serves as Francine’s caretaker, the company said in a story this month. Myers ensures that Francine’s bowls are always full of food and water and that she receives regular veterinary care.
Francine has gained so much popularity over the years, that when Monopoly made an official game board for Richmond last year, it featured an action card that prompts players to visit the cat. A local artist’s rendering of Francine that depicts the cat at the center of the city is also in the store.
What we’re still thinking about
6,000
That’s how many items Dollar General has discounts and deals on this holiday season. The company is launching DG Deal Days on Thursday and will feature promotions and reduced prices every Thursday, Friday and Saturday through Dec. 21.
Many retailers during the last quarter of the year are offering promotions and stressing value. Target, for example, said this week that it is cutting prices on over 2,000 products across its owned and national brand assortment this holiday season.
97
That’s how many inches of TV Best Buy can offer you this holiday season if you want to go big.
The consumer electronics retailer said it has doubled its assortment of supersized TVs and is offering free delivery and installation on any TV that is 97 inches and above. For context, 97 inches is about eight feet.
“We’re seeing growing interest from shoppers in XXL TVs, especially as the technology gets better and more options are available at a variety of prices,” Blake Hampton, Best Buy’s senior vice president of merchandising, said in a statement.
Best Buy says it’s added dedicated home theater experts in over 400 stores nationwide to help customers choose the right TV. Customers can also take advantage of an augmented reality viewer in the retailer’s app that enables people to preview how a new TV will look in their homes.
What we’re watching
Abercrombie & Fitch Co. ‘fully cooperating with law enforcement’ in Jeffries sex crimes case
Abercrombie & Fitch Co. this week said it is “appalled and disgusted by the alleged behavior” of ex-CEO Mike Jeffries, who was charged this week with sex trafficking and prostitution crimes, and that it’s cooperating with law enforcement in what is an ongoing investigation.
Jeffries hasn’t been chief executive at the apparel retailer for a decade, but was in the role for two. Moreover, he allegedly used that position to lure men with promises of modeling work, according to court documents released by the U.S. Attorney’s Office in the Eastern District of New York. A related civil lawsuit claims that Abercrombie was aware of Jeffries’ activities and benefited from them.
The retailer’s appearance in the indictment unsealed this week in New York runs counter to its efforts to turn the page on the Jeffries era. “For close to a decade, we have successfully transformed our brands and culture into the values-driven organization we are today,” a company spokesperson said. “We have zero tolerance for abuse, harassment or discrimination of any kind, and are committed to fully cooperating with law enforcement as the legal process continues.”
