1. Allbirds opens its first store in China
Allbirds has opened its first store in Shanghai, China. The opening has happened in tandem with its launch on Tmall and the unveiling of its dedicated Chinese website. Allbirds’ international focus thus far was on the UK, Canada, and New Zealand. The launch in China comes at a time when the US and China are nine months into a trade war.
2. Best Buy gets new CEO
Corie Barry, currently the company’s chief finance and strategic transformation officer, will take over as CEO, effective June 11. She will replace Hubert Joly, the current CEO and board chairman, who will transition to the newly created position of executive chairman of the board and will advise Barry on strategy, mergers and acquisitions, external relationships and other matters.
3. Bombas socks ventures into T-shirts
Direct to consumer sock brand Bombas, is the latest brand to go beyond its core purpose. The company has announced a line of Pima cotton t-shirts for both men and women. With this announcement, the brand joins Casper, Harry’s and Dollar Shave Club in expanding its mission from a niche product category to multiple product categories.
4. YSL targets Coachella goers
Joining a list of omnichannel retailers, Yves Saint Laurent is offering Coachella attendees a blended shopping experience that includes social media, online retailing, and a brick-and-mortar pop-up shop on Route 111 in Cathedral City, Calif., on the way to the Coachella site in Indio, California. The promotional beauty station is meant to draw consumer attention with a towering lipstick sign, open-topped cars, and tour bus, beside pink gas pumps and a field of heart-shaped balloons.
5. The Iconic launches sustainable fashion vertical
The Iconic has reportedly launched a new initiative, Considered, making it easier for customers to shop according to their personal values. Considered’s values allow customers to easily find products on the site based on five different values: sustainable materials, eco-production, fair production, animal-friendly, and community engagement. The initiative has launched with more than 6400 products (6.5% of The Iconic’s entire range) with new items being added every day. The Iconic is planning to increase the contribution percentage to 8% by July and 10% by early next year.