WALMART LAUNCHES CHILDREN'S SUBSCRIPTION BOX
Walmart is finally getting into the subscription business for apparel after announcing it’s partnering with Kidbox , a subscription-box company similar Stitch Fix which focuses solely on providing clothes for babies, girls, and boys.
Shoppers will be able to purchase as many as six different boxes from Walmart.com, curated by Kidbox, each year. The Kidbox deal is viewed as another opportunity for the retailer to add more high-end brands to its website. Some of the kids’ clothing brands found on Kidbox’s platform today include BCBG, 7 For All Mankind, Joe’s Jeans, and sock brand Bombas.
“Our partnership with Kidbox enables us to round out our offering with additional national and premium kids’ brands,” said Denise Incandela, head of fashion for Walmart’s e-commerce business in the U.S. Each box will include four to five items and cost $48, which Walmart says will be about 50 percent off the suggested retail price.
RALPH LAUREN CREATES PLASTIC POLOS
Ralph Lauren has committed to removing at least 170 million plastic bottles from landfills and oceans by 2025. The “Earth Polo” has been crafted from thread derived entirely from recycled plastic bottles and dyed using an innovative, zero-water process. Each Polo is made from an average of 12 bottles, done in collaboration with First Mile, an organization focused on sustainability and positive social impact across the globe.Read More
NEIMAN MARCUS GOES TO RESALE
Neiman Marcus has agreed to acquire a minority stake in Fashionphile, an e-retailer selling pre-owned "ultra-luxury" handbags and accessories. The partnership will create an elevated, pre-owned experience for their customers by matching the physical footprint and loyal customer base of Neiman Marcus with Fashionphile's digital inventory of 15,000 ultra-luxury items.Read More
CHILDREN'S CONSIGNMENT BOOM
Seattle-based mom-preneur Elise Worthy is giving subscription boxes a run for their money with Kids on 45th, a website that sells seasonal boxes of nearly new kids clothing for 70-90% less than retail. Founded in 2017, the startup announced today that it has raised $3.3 million.
Prices dip as low as $1.99 for a single item, which is cheaper than Walmart. "Kids on 45th is one of the oldest and most well-known consignment stores in Seattle," Worthy said in an interview. “I thought, this is an amazing community gathering place for moms, and there’s something for e-commerce here.”
Kids on 45th has been successful in bringing down the price tag as much as it also has veered away from the typical business model e-commerce stores usually adopt like online merchandising.
AMAZON EXITS CHINA
After entering the Chinese market in 2004, Amazon now plans to close its domestic marketplace business in China. Customers in China will still be able to buy items from the U.S., Germany, Japan and the U.K. through Amazon’s global site as it focuses more on cross-border sales into the world’s second-largest economy, according to an earlier Reuters report. Amazon’s cloud business will reportedly continue to operate in China.
THIS WEEK'S BRIGHT SPOT
Despite the heart-wrenching and spiritual devastation caused by the burning of the Notre-Dame cathedral this week, there is a fashion-fueled silver lining. The catastrophe appears to have awakened the competitive streak between LVMH and Kering, in addition to their culture-enriching and charitable efforts. Both conglomerates have made generous (almost competing) donations of 100 million euros (Kering) and 200 million euros (LVMH).