LVMH to show how their luxury goods are made | Nike grows DTC sales, makes plans to clear overstocks | Versace celebrates its past with new store concept
Fifty-seven brands from LVMH's portfolio will open ateliers, workshops and other manufacturing facilities to the public for three days in October as part of the luxury conglomerate's fifth Les Journees Particulieres, or special days, event. The lineup includes tours of Louis Vuitton's Rochambeau Ranch in Alvarado, Texas, a 105-acre facility that includes a handbag workshop that opened in 2019.
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Nike reported a 4% rise in revenue in its first fiscal quarter, while direct-to-consumer sales, a growing focus of the workout wear and sneaker brand, grew 8% over the same period last year. Inventories are up 44% year-over-year as a result of supply chain challenges that led Nike to order earlier and left it with merchandise from several seasons; the company plans to beef up promotional pricing to make room for newer goods, Chief Financial Officer Matthew Friend said.
Versace unveiled a new store format in Paris, Shanghai and Tokyo this month, which it will roll out at boutiques in Los Angeles and New York City by the end of 2022. The new look harks back to the brand's Italian heritage and the stores feature Versace's full line of products, including fashions, accessories and home goods.
A brazen shoplifting incident at a Kohl's store in Ohio this week highlights the growing problem of organized retail crime, a threat that retailers say has grown by 26.5%, according to NRF's 2022 Security Survey. NRF has applauded the introduction of the Combating Organized Retail Crime Act of 2022 in the Senate -- the bipartisan bill would establish an Organized Retail Crime Coordination Center and foster national and international efforts to share information and fight retail crime.
Hispanic grocer Cardenas Markets is working with Amazon to offer two-hour delivery in Las Vegas and select California communities. The grocer intends to expand the service to more areas in the coming months.
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California-based Daniel's Jewelers launched 75 years ago and, while it focuses on offering a range of price points to a diverse clientele, the retailer has gained a following among Hispanic consumers in the US, a population that's set to grow from 62.5 million last year to nearly 75 million by 2030. "Once that became clear and we saw where the market was going and saw the growth, we stepped on the accelerator a bit and figured out how we could tweak the business and specifically cater to that population," said CEO David Sherwood.
With 85.5% of consumers still shopping in person, according to the US Census Bureau, stores like Kohl's are creating some neighborhood-size buildings with curated products appropriate for the location. The old-school approach allows large companies to provide a more personal touch as they focus on customer loyalty, says Michael Prendergast of Alvarez & Marsal Consumer Retail Group.
Tech companies Dematic and Upshop have joined forces to help grocers streamline their fulfillment operations as they expand. "Now smaller grocers and large, multi-store brands will have pre-engineered access to automation options, creating a clear path to scale owned e-commerce fulfillment for food retail," said Upshop Chief Product Officer Steve Paro.
NRF worked closely with Senator Grassley's staff on the development of bipartisan ORC legislation -- the "Combating Organized Retail Crime Act of 2022" -- that was introduced yesterday by Senator Grassley, R-Iowa, and co-sponsored by Senator Cortez Masto, D-Nev. Organized retail crime is a multibillion-dollar problem affecting the retail industry and jeopardizing the safety of associates and customers. According to NRF's 2022 National Retail Security Survey, retailers reported a 26.5% increase in ORC, on average, and also noted an increase in violence and aggression associated with ORC over the past year. Read more.
PwC Partner and US retail leader Kelly Pederson joins the Retail Gets Real podcast to discuss PwC's Global Consumer Insights survey report and how these trends will carry over into the holiday season. Pederson points out a stark contrast in consumer behavior between millennials and boomers, highlighting the key driving factors. Tune in to hear about current generational spending trends and what can be expected this upcoming holiday season.
California Pizza Kitchen has put its first burger on the menu, and it's rewarding patrons who order the West Coast Burger in October -- which is National Pizza Month -- with a free pizza on their next visit. In addition to promoting the burger, the giveaway will also be given to all customers who order something besides pizza during the monthlong "pizza boycott."
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