As Tik Tok comes under greater pressure in key markets, DTC brands that relied on the platform as its main marketing channel could face a troubling disruption connecting to their customers.
FINANCE
Fanatics (USA) has purchased Epi (Italy) , a leading sports merchandise company. The move is part of Fanatics global expansion plans as it signs deals with more sports clubs around the world.
Authentic Brands Group (USA) is in talks to acquire Boardriders (USA) from Oaktree Capital Management. The company’s brand portfolio includes Quiksilver, Billabong, Roxy, DC Shoes and others.
Boardriders currently has revenue of $2.9 billion, and a network of 500 retail stores, plus a wholesale business.
Bed Bath & Beyond (USA) has entered into a vendor consignment agreement with Hilco Global’s ReStore Capital, where Hilco will buy up to $120 million in merchandise from Bed Bath’s key suppliers to boost inventory levels.
- Bed Bath & Beyond has struggled to refill its shelves after vendors tightened their credit terms.
- A lack of merchandise in stores has been a key factor holding the retailer back from building back sales.
RETAIL
Etam (France) will debut in the US with a store in Miami. Currently the retailer operates about 850 stores in Europe, Latin America, the Middle East and Asia. Previously the brand was only available in the US online or within Nordstrom.
Galeries Lafayette (France) plans to open 10 new stores in China by 20225 in partnership with Hopson Group.
- Its newly opened Shenzhen store will be followed by stores in Chongqing and Macau this year.
PODCAST
How Behavioral Technology Could Revolutionize MarTech
Digital transformation is set to make marketing more of a science than an art.
All of the excitement around new developments in AI has people wondering how big a role it could play in marketing.
In this podcast Prantik Mazumdar, managing director of CXM Group, a digital marketing company, talks about how technology is changing, shaping and maybe even revolutionising advertising and marketing.
Prantik has pioneered new ways to use behavioral economics to drive CRM and better understand consumer decision making.
You’ll Learn:
- Why successful marketing is about building brand value, rather than getting more clicks or likes.
- How automation is being ‘humanised’.
- The challenges of trying to automate creativity.
MARKETS
US retail sales grew 4.7% year-on-year in March, per Mastercard SpendingPulse. This was slower growth than the 6.9% recorded in February. Growth is being driven by purchases of necessities and experiences.
US employment continued to grow at a healthy rate in March, prompting traders on Wall Street to increase their bets that there will be another interest rate rise from the US Federal Reserve. Unemployment is now down to 3.5 percent.
- Over 20% of those employed are actively applying for new positions, per the Morning Consult.
The global economy faces its darkest outlook for more than 30 years as geopolitical tensions and sky-high inflation take their toll, according to the head of the International Monetary Fund.
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