Tupperware has made its way to Target shelves, while Hasbro unveils a significant $8.5 billion strategy.
In the world of business, change is the only constant. Here's a roundup of some recent updates and collaborations that have caught our attention:
Sephora Limits Birthday Gifts
Sephora has revised its birthday gift policy, limiting the number of gifts that can be shipped to a single address in the US and Canada to 150 per year. Orders including a birthday gift for addresses exceeding this limit will be cancelled. Each Beauty Insider loyalty member is eligible for one birthday gift "per year per mailing address" according to Sephora's terms and conditions.
Kay Jewelers and Diamond Supply Constraints
Kay Jewelers has issued a disclaimer on its website stating that lab-grown diamond products may include natural diamonds due to supply constraints. This is a reminder for customers to check the product details carefully before making a purchase.
The Artisans Cooperative and a New Marketplace
The Artisans Cooperative, a group of artists, has announced they are building a new marketplace due to events at Etsy. Artist Thera Langham Knapp of Atypically Artistic, who closed her Etsy shop in 2015, is now a part of The Artisans Cooperative, aiming to create a better platform for artists. The search results do not contain information about the goals of The Artisans Cooperative or their current progress in implementing plans.
Tupperware's Business Transformation
Tupperware, historically a direct-to-consumer company, has been undergoing a transformation to reinvent its business model. Tupperware products are now available at Target stores and Target's website, expanding its reach to a wider audience.
Pacsun and The Metropolitan Museum of Art Collaborate
Pacsun has debuted a capsule collection with The Metropolitan Museum of Art, featuring fall and winter fashion items. The pieces in the collection are portrayed through a gender-free lens and range in size from XS to XL. The collection includes sweatsuits, T-shirts, hats, socks, and is available at 200 Pacsun stores and on the retailer's website.
Poshmark's Acquisition and Global Growth
Poshmark is being acquired by South Korean internet giant Naver in a deal worth $1.2 billion. Naver's technology in search, AI recommendation, and e-commerce tools will help power the next phase of Poshmark's global growth. Naver's livestream shopping market, which did $25 billion in gross merchandise value last year, will "transform the shopping and selling experience" and strengthen the Poshmark community.
Etsy Strike and Its Impact
In the spring, thousands of Etsy sellers went on strike in protest over a 30% seller transaction fee hike. Etsy's CEO Joshua Silverman stated that less than 1% of sellers chose to put their shop on vacation mode and the company "saw no material impact" to churn following the strike.
Hasbro's Growth Plans
Hasbro is planning for its operating profit to grow by 50% over the next three years, aiming to expand operating profit margin to 20% by 2027. Hasbro is focusing on direct-to-consumer, digital, and licensing as investment priorities, with licensing set for "major expansion."
Peloton's Job Cuts and Financial Struggles
Peloton is cutting 500 jobs as part of a new round of layoffs to reach break-even cash flow by the end of the year. Peloton lost more than $100 million in its retail business last year.
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