Tupperware Now Available at Target, and Hasbro Unveils $8.5 Billion Blueprint
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In the ever-evolving world of retail and e-commerce, several notable developments have taken place. Here's a roundup of some of the latest news:
Peloton, the popular fitness brand, announced plans to cut about 12% of its workforce in a bid to reach break-even cash flow by the end of the year. The move comes after the company reported a loss of over $100 million in its retail business last year.
Meanwhile, Sephora has updated its birthday gift policy. Each Beauty Insider loyalty member is now eligible for one birthday gift "per year per mailing address," with a maximum of 150 gifts that can be shipped to a single address in the US and Canada.
In the art world, a group of artists, known as The Artisans Cooperative, are planning to build a new marketplace. The initiative was sparked by a strike by Etsy sellers in the spring over a 30% seller transaction fee hike. The details of the new marketplace are still being developed, and the community is currently growing and fundraising.
Sephora's rival, Pacsun, has debuted a capsule collection with The Metropolitan Museum of Art. The collection, featuring fall and winter pieces inspired by late 19th-century paintings, is portrayed through a gender-free lens and is available at 200 Pacsun stores and on the retailer's website.
Retailers are increasingly focusing on personalizing the shopper experience by tapping into shopper data. They are also reworking stores to suit shoppers by implementing complementary shop-in-shops, age-appropriate experiences, and integrated technology.
In the digital realm, the South Korean internet giant Naver has taken over the brand Poshmark in a deal estimated at 1.2 billion US dollars. Naver's technology in search, AI recommendation, and e-commerce tools will help power the next phase of Poshmark's global growth.
Hasbro, the toy company, has identified direct to consumer and digital, along with licensing, as two investment priorities. The company aims for its operating profit to grow by 50% over the next three years, with a goal to expand operating profit margin to 20% by 2027 and generate $8.5 billion or more in revenue by 2027.
Tupperware, the iconic plastic products company, has been on a transformation journey for the past two years, reinventing its business model. Tupperware products are now available at Target stores and on Target's website.
Lastly, Kay Jewelers is facing issues with lab-grown diamond products, as some of them may include natural diamonds due to supply constraints.
These developments underscore the dynamic nature of the retail and e-commerce industries, with companies continually adapting to meet the changing needs and preferences of consumers.
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