The Weekly Closeout: Puma eyes ‘efficiency program,’ Adidas could cut jobs

Retail Online Training


This audio is auto-generated. Please let us know if you have feedback.

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 Levi Strauss’ recent board appointment to 111Skin’s latest investment, here’s our closeout for the week.

What you may have missed

Adidas could turn to job cuts in operating model overhaul

On the back of 24% sales growth in its preliminary Q4 results, Adidas is taking a new look at its operating model. The restructuring could lead to job cuts down the line, a spokesperson confirmed to Retail Dive. The retailer said it could not confirm any details or possible numbers related to layoffs, as the company is “still at the very beginning of this process” and structural changes are still being discussed. Other publications have said up to 500 jobs could be cut.

“Over the past two years we have created strong momentum for the business, our brand and our products and have proven that our approach to serve our consumers works. But we also found that, in an ever-changing world, we are too complex because of our current operating model,” the Adidas spokesperson said. “To set adidas up for long-term success we are now starting to look at how we align our operating model with the reality of how we work. This may have an impact on the organizational structure and number of roles based at our HQ in Herzogenaurach.”

The spokesperson also clarified that it was not a cost-cutting program, but an effort to reduce complexity across the organization, and said any decisions impacting employees would be “handled with the utmost respect and care.”

J.C. Penney goes big on petite

J.C. Penney on Thursday announced the Bold Elements x Ally Brooke collection, a limited-time collection for the private label that focuses on petite fashion. 

Designed in partnership with singer-songwriter Brooke, the collection includes 29 pieces, starting at $30, available in petite, standard and plus-sizing, according to a company announcement. 

Three people, including Ally Brooke, wearing items from J.C. Penney's Bold Elements line.

Courtesy of J.C. Penney

 

“Inclusivity has always been a top priority for J.C. Penney, and we’re excited to deliver on that promise with this new collection, specifically tailored to petite women – who are often left out of fashion spaces and conversations,” Marisa Thalberg, Catalyst Brands’ chief customer and marketing officer, said in a statement.

111Skin lands investment from Kim Kardashian’s private equity firm

Skin care brand 111Skin has received a minority investment from SKKY Partners, the private equity firm founded by Jay Sammons and Kim Kardashian. 111Skin’s co-founders, Eva Alexandrides and Yannis Alexandrides, will maintain majority ownership and continue to lead the company alongside CEO Vanessa Goddevrind.

The investment, which was not disclosed, will help the beauty brand expand its DTC business and grow its presence in markets like North America and Asia, per a company announcement.

“The SKKY Partners team has tremendous experience working with distinctive, growth-oriented brands,” Goddevrind said in a statement. “They are passionate champions of our core values and share our drive for excellence.”

Levi Strauss appoints Sephora North America CEO to board

Levi Strauss & Co. this week named Artemis Patrick, the CEO of Sephora’s North America business, to its board of directors, effective Feb. 1. As of the beginning of March, she will also serve as a member of its audit and nominating, governance and corporate citizenship committees, per a company press release.

“Artemis has a proven track record as a multifaceted leader, with roots in merchandising, brand building, partnerships and e-commerce,” Levi’s Chairman Bob Eckert said in a statement. “Her deep industry and leadership expertise will be a valuable addition to our board as we continue to strengthen LS&Co.’s position in the retail and apparel industries while also furthering the company’s pivot to becoming a best-in-class omnichannel retailer.”

Retail Online Training