“Under the deal, Capital One will issue credit cards that can only be used on Walmart’s website and in its stores, as well as co-branded cards that can be used almost anywhere else, the Wall Street Journal reported. Synchrony, which issues private-label cards as well as co-branded cards, has been Walmart’s exclusive credit-card issuer since 1999.”
Coca-Cola Co topped Wall Street estimates for quarterly sales and profit on Wednesday, as more consumers bought its healthier soda options such as Zero Sugar and new flavors of Diet Coke, sending its shares up 2.7%. Coke and PepsiCo Inc. have been focusing on healthier drinks to garner market share as health-conscious consumers shift away from sugary sodas.
Meal-kit delivery company Chef’d closed its doors last week and laid off hundreds of workers. Now the company’s assets have been acquired by an investment firm with a meal kit offering of its own. True Food Innovations, run by food and real estate investor Alan True, has acquired the assets of Chef’d — including its brand name, plant and equipment — with plans to use those to expand True’s own meal kit business: True Chef.
On a Monday morning in November, students at Harvard Business School convened in their classroom to find Gwyneth Paltrow. She was sitting at one of their desks, fitting in not at all, using her phone, as they took their seats along with guests they brought to class that day. Each seat filled, and some guests had to stand along the back wall and sit on the steps. The class was called the Business of Entertainment, Media and Sports.
Nestle has lost its attempt to protect the shape of its four-finger Kit Kat chocolate bar in European Court of Justice after a tussle of over a decade to establish that it had a distinctive character. The ECJ dismissed Nestle’s appeal which sought to reverse an earlier court decision that had ruled against the company. Meanwhile System 1 Research
gives an Australian Kit Kat ad five stars.
An acceleration of people dropping their cable TV subscriptions prompted a leading research firm to increase its forecast of so-called cord cutting by 25%. About 50 million people in total will have dropped cable or satellite TV subscriptions by 2021, according to eMarketer. Consumers have long cited the increasing price of cable TV packages as the main reason for dropping the services.
The auto industry (and beyond) is mourning the loss of Sergio Marchionne, the visionary former CEO of Fiat Chrysler who led the rebirth of an American manufacturing icon. Thin on worthy existing products and promising new ones, Marchionne first relied on bold marketing to create consumer confidence in a Chrysler enterprise that had been perceived as unreliable. One output of that emphasis was the iconic Eminem
TV commercial for Chrysler during the 2011 Super Bowl.
The company has signed the U.K.’s PinkNews to be its first LGBT partner for Snapchat Discover. PinkNews will launch on Discover and be the first dedicated channel to serving up LGBT news on the platform. Announcing the news, Rami Saad, content partnership head at Snap, said: “We’re always working to ensure content on Snapchat is as diverse as our community.”
MSG ended a century-long relationship with Coca-Cola and welcomed PepsiCo as its exclusive non-alcoholic beverage and snack partner starting on Sept. 1. The multiyear sponsorship and marketing deal includes Radio City Music Hall. PepsiCo’s exclusive marketing rights to MSG properties will include mobile, TV and digital assets, in-venue signage and the right to create retail promotional opportunities at external points of sale.
Britney Spears and Revlon have joined forces to launch the global popstar’s newest fragrance, Britney Spears Prerogative. The fragrance is designed to embolden those who wear it to be whoever they want to be, the company said. The bottle is a hybrid shape that’s composed of sharp edges and soft, rounded corners that reflect contrasting sensibilities, the company said.