Walmart Acquires Eloquii and Amazon Cuts Bonuses
WALMART ACQUIRES ELOQUII
Walmart's acquisition strategy is in full effect. To enhance its digital offerings, the company is adding brands to its portfolio that offer unique products and experiences, while adding new customer profiles to its shopper base.
The newest member of Walmart's rolodex is online plus-sized brand Eloquii. The company is building out consumer relationships with its brands, offering products that are differentiated and exclusive - similar to Modcloth and Bonobos. "We are laser-focused on developing a portfolio of direct-to-consumer brands with a unique assortment you can’t find anywhere else," says Andy Dunn, senior vice president of digital consumer brands at Walmart U.S. eCommerce.
EXPRESS FOR RENT
Express is the latest retailer to join the sharing economy. The "Express Style Trial" service allows shoppers to rent three items at any given time for $69.95 a month. Subscribers can swap out clothing with unlimited exchanges and three-day delivery.
In a campaign bringing back the classic 1993 Aztek off-road running sneaker, Reebok is debuting a '90's themed content series. Influencers have replaced celebrities to showcase vintage '90s Reebok gear and demonstrate their originality.
AMAZON RAISES WAGES AND CUTS BONUSES
Beginning November 1, Amazon will pay a $15 an hour minimum wage to its 575,000 employees, creating new standards for competitors.
The company has been publicly applauded for its efforts, nevertheless it is facing a backlash in the UK. According to the GMB union, staff will no longer be eligible for cash bonus incentives earned by meeting productivity and attendance targets over the peak Christmas trading period.
Amazon has denied that such a bonus scheme existed, yet the GMB voices its suspicions of a stealth tax by the employer on its own wage increase.
GUCCI + LOUIS VUTTION ARE GENIUSES
Gartner L2's newest report, "Digital IQ Index: Fashion Global 2018," measures the digital performance of 77 luxury brands, ranking them Genius, Gifted, Average, Challenged, or Feeble. Gucci and Louis Vuitton both received the Genius label, after winning the admiration and wallets of Millennials.
THIS WEEK'S BRIGHT SPOT
In efforts to raise awareness on healthy food choices, Kohl’s is giving more than $1 million to the American Cancer Society to launch new pilot programs. Its existing partnership with the ACS, Kohl's Healthy Families, will also improve access to cancer screenings and treatment in the Milwaukee area. The company has committed $11 million since 2010.