1. Rent the Runway expands into kids clothing
Rent the Runway is expanding into kids clothing with a new line called Runway Kids. This new line will cater to girls’ sizes 3Y to 10/12Y and be available via reserve, allowing customers to rent items for four or eight days. The platform will have built-in flexibility to add more than four items per rental order, aimed at shopping for “mommy and me” special occasions.
2. Amazon plans to release wireless earbuds
Amazon is introducing wireless earbuds that mirror Apple’s AirPods. The headphones will let people use their voice to order goods, access music, weather and other information on the go. Earbuds are reportedly a fast-growing category of wearables: 12.5 million pairs were sold in Q4 2018, according to Counterpoint Research and Apple’s AirPods had 60% of this market.
3. Walgreens to get aggressive in eCommerce & healthcare
In Walgreens’ earnings call last week, CEO Stefano Pessina told analysts that the company is putting a priority on rolling out a more aggressive approach to ecommerce and digital healthcare. The company is expected to invest approximately $300 million to boost partnerships and digitalization of the company. The company had a pretty tough quarter, ending February 28th. While total sales grew 4.5% YoY to $34.50 billion from $33.02 billion, net earnings dropped to $1.156 billion from $1.349 billion.
4. Walmart to team up with mom-and-pop stores in India
Walmart is reportedly rolling out a plan to more than double its wholesale chain in India over the next four years by supplying to the local stores. This decision to supply to the very cohort it competes with is aimed at taking on Amazon and Mukesh Ambani, Asia’s richest man who already controls India’s largest bricks-and-mortar retail chain, as well as a network of wholesale stores that is twice the size of Walmart’s.
5. AllSaints opens the first store in SEA
AllSaints is a global, digital, contemporary brand with an independent spirit. Headquartered in East London, the company designs full collections of womenswear, menswear, and accessories. The first store opening in SEA marks the brand’s aggressive expansion plan towards this region in partnership with Bluebell.