Baker Retail Rundown

Tapestry CEO Takes Stand With $8.5B Capri Deal in the Balance

The Federal Trade Commission (FTC) has been involved in a legal dispute concerning Tapestry and Capri Holdings. The FTC is scrutinizing the proposed merger between the two companies, focusing on potential anti-competitive effects and market implications. Joanne Crevoiserat, CEO of Tapestry, has been actively involved in navigating the legal and regulatory challenges posed by the FTC’s review. Her leadership is critical as Tapestry seeks to address the regulatory concerns and advance the merger discussions. The article discusses the potential market impact of the merger, including how it might affect competition in the luxury goods sector. It also touches on Tapestry's strategic goals behind pursuing such a merger, which are aimed at strengthening its position in the market. At the time of the article, the merger is still under review by the FTC, and the outcome remains uncertain. The article highlights the complexities of merging major companies in a highly regulated industry and the ongoing efforts by both Tapestry and Capri Holdings to address regulatory concerns.

Why Old Navy is throwing back to the ’90s to burnish its iconic brand

Old Navy celebrates its 30th anniversary with the launch of the ’94 Reissue, a limited-edition collection that updates iconic '90s styles, such as baby tees, baggy jeans, and tracksuits, with nearly 200 styles in the collection. This release is part of Old Navy’s recent brand reinvigoration that is led by the Chief Creative Officer, Zac Posen, and the Chief Marketing Officer, Behnaz Ghahramani. Along with the new collection, Old Navy launched the “Once More ’94" campaign to promote the collection through digital, in-store, and out-of-home marketing, with the incorporation of zines inspired by the 90s’ magazines. The collection and campaign is inspired by millennials’ and Gen Z’ nostalgia of the 90s, a joyful time. Old Navy aims to cross generational boundaries while maintaining relevant and exciting for modern consumers.

Meet Gentle Monster Fusing K-Pop Excitement With Immersive Retail In Luxury Eyewear

In the rapidly expanding luxury market segment of eyewear, Gentle Monster’s nearly 50% growth last year significantly surpassed EssilorLuxottica, Kering Eyewear, and Warby Parker, which grew 7%, 38%, and 12%, respectively. Gentle Monster blends consumers’ excitement with Korean entertainment with immersive retail experiences and distinctive brand personality to stand out in the luxury market. With 78 flagship stores in 13 countries worldwide, the brand features a surreal in-store experience with art installations, 3D sculptures, and other artistic elements, captivating the shopper’s attention. To bring this experience to consumers, Gentle Monster employs more spatial retail designers than it does product designers. This fusion of entertainment, art, and retail is reshaping how consumers engage with luxury products, positioning Gentle Monster as a leader in both luxury eyewear and experiential retail.

Holiday shoppers more likely to head to stores this year, JLL says

In 2024, Americans are expected to increasingly visit brick-and-mortar stores for holiday shopping, with malls emerging as the top destination, according to JLL's annual Holiday Shopping Survey. The survey predicts holiday budgets will rise by 31.7% compared to 2023, with consumers spending an average of $1,261 on gifts, food, decor, and experiences. While e-commerce remains popular, there’s a shift towards in-person shopping, with fewer consumers exclusively shopping online. Mall visits are projected to increase by 18%, driven by consumers' desire for physical shopping experiences, and department stores are now the most visited store type. 

Nike Replaces CEO With Veteran Executive Hill in Revival Bid

Nike replaces John Donahoe with the new CEO, Elliott Hill, who has a long history with Nike. Hill joined Nike in 1988 and has served as the President of Consumer Marketplace before retiring in 2020. Previously, Nike’s shares has been falling with decreasing sales and increased competition from brands such as On and Hoka. Calls for a change in leadership was not sudden. During Donahoe leadership, he planned for $2 billion in cost reductions with 2% layoffs across Nike last year, and analysts have forecasted in June that sales for the new fiscal year would be below expectations. With the new leadership change, Nike’s shares increased by 7.3%, the day following the announcement of the new CEO.