Drones Are the New Air Taxis and Toys R Us Returns
TOYS R US RETURNS
Don't call it a comeback: Toys R Us is making a return of sorts. Former Toys R Us properties and trademarks have organized into a new company, Tru Kids Brands, which is set to develop new Toys R Us and Babies R Us stores.
"We have an incredible team focused on bringing Toys R Us and Babies R Us back in a completely new and reimagined way, so the US doesn't have to go through another holiday without these beloved brands," says new CEO Richard Barry.
Nevertheless, the company has lost most of its leadership and employees. Expect a smaller, consolidated version of Toys R Us.
LEVI'S GOES PUBLIC
The timeless denim company, Levi Strauss & Co, is going public. This week paperwork was filed with the US Securities and Exchange Commission (SEC), and the number of shares to be offered, and the price range for the proposed offering have yet to be determined. Be on the lookout for Levi's New York Stock Exchange listing under the LEVI ticker.Read More
IKEA WELCOMES RIVALS
Ikea is exploring the possibility of launching an online sales platform that would showcase products from its competitors as well as its own. As it looks to gain a stronger foothold in e-commerce, the company believes there is an opportunity to create something that sits between its own site and third-party site such as Amazon.Read More
DRONES: THE NEW AIR TAXIS?
While Alphabet and Amazon have seized the drone development spotlight, several startups have quietly made progress toward building longer-range autonomous aircraft that can deliver heavier cargo.
Elroy Air has raised a total of $.2 million in seed funding to develop a cargo drone to the market in 2020. The aircraft, dubbed the Chaparral, will be able to automatically pick up and release a cargo pod with a capacity of 500 pounds and carry it up to 300 miles.
The company believes the aircraft will replace trucks on rural routes with thin demand and helping out the small air carriers subcontracted by UPS and FedEx that are struggling to sign up enough pilots.
A STORE WITH NO CLOTHES?
LEGO Wear and Snapchat have recently launched a clothing store without clothes. LEGO Wear's first limited-edition clothing line for adults debuted in a pop-up is physically empty of everything but a plinth-posted Snapcode, allowing shoppers to enter a virtual shop with an interactive DJ booth, LEGO bouncer, arcade machine, and exclusive products for purchase.
THIS WEEK'S BRIGHT SPOT
New York Fashion Week Fall/Winter 2019 was marked by a glimpse of warmth that quickly shifting to frigid temperatures, yet influencers and industry insiders continued to let their personal style shine. In a roundup of the streets of the city, style favorites included striking jackets, statement accessories, and stylish mini-bags.