Retail Diary - Week of October 16th 2023
This Week's Topics:
Birken-Stock
New Launches, Collabs, Funding, Corporate Moves & News
What else I ❤️️
Birken-Stock
Birkenstock, the iconic sandal brand, has a history as comfortable as its shoes. Founded in 1774 in Germany, it's been making strides in fashion for centuries. The 1960s saw a hippie trend embracing Birkenstocks for their comfort and groovy style, while the '90s brought them to the mainstream. Fast forward to 2021 when they collaborated with designer Rick Owens, sparking a high-fashion revival. With comfy cork soles and a dash of pop culture, Birkenstock remains a timeless favorite in the world of fashion and retail. In 2021 L Catterton acquired Birkenstock.
The rumors of Birkenstock’s impending IPO began in July 2023 (rumored to be over $6 Billion) and then filed in early September. NPR has details on “the oldest start-up on Earth.”
News from their IPO on October 11th:
Two articles via the WSJ: on the “frumpy” Boston Clog and why Americans are obsessed with Birkenstock.
Dan Frommer wrote about it in the New Consumer - and while many were ready to sound blah at another “fashion” or “retail” IPO Frommer writes about why it is a win. “What actually happened: Birkenstock issued stock in its public offering at $46 per share, around the midpoint of the $44 to $49 per share range it was considering.”
Birkenstock images via WSJ, NYTimes, Vogue, freepeople.com and birkenstock.com
New Launches, Collabs, Funding, Corporate Moves & News
Launched
Big Activewear launch news this week:
Rhone to launch Women’s Activewear.
Lululemon launching bodywear with bralettes and bodysuits. They’ve launched some “active” underwear before and successful with sports bras so this feels like a natural expansion especially for the younger demographic.
Shoe Brand (and Bay Area based) Freda Salvador launches handbags.
Sherri McMullen, owner of famed Oakland Boutique McMullen, launches an incubator program. Beyond M will be a yearlong program to help the next generation of designers.
Coach launches a shop on Amazon, and honestly seeing the press about it made me flashback to a time when no one could have seen a brand like Coach comfortable selling on Amazon.
LVMH to open The Maison des Métiers d’Excellence for training programs dedicated to craftsmanship.
Shortly after announcing and launching a beauty vertical, Air Mail is launching a Style vertical with Jessica Diehl (former Vanity Fair Creative Director) as editor.
Collabed
Reformation x New York City Ballet epic ballet-core for the cool girl.
For all the late 80’s and early 90’s nostalgia - Lisa Frank x Crocs
Funded
Yaysay raised $10.3 million to bring gamification and AI to off-price shopping. ““We are building an AI-fueled, personalized, feed-based new mobile shopping paradigm that is focused on bringing the thrill of the treasure hunt — of off-price shopping — to an online experience,” Ferstandig, now Yaysay’s chief executive officer, told WWD.”
Corporate Moves & News
After a long history with the brand (including Phoebe Philo era Chloé) Chemana Kamali has been named the new Creative Director at Chloé.
Farfetch is selling Violet Grey two years after it acquired the beauty retailer. Farfetch had decided to exit the beauty business. Violet Grey is a fabulous business that was founded by Cassandra Grey (she is staying on through the sale) and I really hope someone snaps it up and keeps it running as the luxury trendsetter that it has been in the beauty space.
Enjoyed this Nordy Pod as an explainer for what a Board of Directors can do for a company. This was part one and I’m looking forward to part two.
What else I ❤️️
Loved
recap of Paris Fashion and what to buy now to recreate the styles.
Listening to Vogue’s Run-Through - love Jenna Lyons interview and Chloe Malle named editor of vogue.com.
Also enjoyed listening to Masters of Scale with Under Armour’s CEO Stephanie Linnartz.
So much listening this week - Masters of Scale AI episode. Creative ways to improve yourself and work you produce. Great examples to encourage new ways of thinking and blind spots.
I’d love to see this - The Jewish Museum in NYC has an exhibit featuring The House of Chloé founder/designer Gaby Aghion.
Enjoyed
‘s Substack on Ganni and sustainability.
Very into this Into The Gloss with Emi Jay founder Julianne Goldmark.
David Yurman business is thriving with Sofia Richie Grainge as a spokesmodel. It's also worth noting that a new generation, fueled by RushTok (sorority girls), is wearing Yurman, and falling in love with the brand, while older generations continue to wear it.
I’ve shared in a few recaps the over accessorized handbag (Jane Birkin Bag inspo) and I’m very into it as customization and let’s upsell and increase the basket size! I think a “customize your bag” event with vintage, found objects, and personalized charms would be a great traffic driving event. Could also pair it with the silk scarf business and show how to wrap/tie a scarf around the handle. (Nordstrom, Bloomingdale’s, boutiques and concept shops like Hirschleifer’s are you taking notes? This is a fun way to do the open air market I talked about in this issue of Retail Diary.)
What's Next?
Thank you for the 👍 with my latest “This Will Be Quick” newsletter. More mini editions to come.
I’m already seeing Holiday ads/commercials and I know as soon as we get through Halloween it will be full steam ahead with Holiday.