1. The Vitamin Shoppe adds CBD to its menu
The Vitamin Shoppe, which started selling hemp oil extracts in March, will start selling edible CBD products this week in 14 states, the District of Columbia and Puerto Rico, according to CNBC. The retailer will initially launch oral CBD soft gels, with CBD drops following later this month. Introducing CBD-infused edibles puts The Vitamin Shoppe a step ahead of Walgreens, CVS and Rite Aid, which have only added topical products to their stores.
2. Everlane launches sneaker brand
DTC brand Everlane has just launched its own sneaker brand called Tread. The shoes come with a sole largely free of unrecycled plastic, and leather made at a factory the company says has less environmental impact than your typical shoe manufacturer. Everlane pledges that its shoes, which took two years to design, will be completely carbon neutral.
3. Neiman Marcus invests in Fashionphile
Neiman Marcus has purchased a minority stake in Fashionphile – an online retailer that buys and resells luxury goods – for an undisclosed amount. Shoppers can bring in their used luxury goods and Fashionphile will authenticate their items, give them a quote and then resell the items on its platform or via its stores. With the Neiman Marcus investment, some Neiman Marcus locations also will serve as Fashionphile drop-off locations, allowing shoppers to receive a quote for their pre-owned items, as well as immediate payment from Fashionphile. Neiman Marcus says it will not sell Fashionphile products in its stores or on NeimanMarcus.com.
4. StockX valued at $1 billion
The online sneaker resale marketplace StockX is reportedly in advanced talks to be valued at least $1 billion in a new round of financing, according to Recode. DST Global, the late-stage venture firm run by Russian-American billionaire Yuri Milner, is expected to lead the deal, according to people familiar with the matter. It will be the latest bet by the firm on an e-commerce startup after backing companies like DoorDash, Wish, and Faire.
5. Best Buy, Target jump into the medical device market
Best Buy has announced its expansion into healthcare with sales of a new device, TytoHome, which allows users to measure certain information like body temperature readings, throat scans, among others, and send them to a telehealth clinician or their own physician or nurse. Target, meanwhile, has begun selling at-home test kits from startup EverlyWell for medical diagnoses including Lyme disease, fertility, menopause and certain sexually transmitted diseases, according to an EverlyWell press release emailed to Retail Dive.