“Baby me in 2014 wasn’t sure if we could afford the next hire, didn’t know if anyone would like her idea for a beauty company... and hardly knew a venture capitalist from a bank teller,” writes Glossier founder Emily Weiss in an Instagram post cited in The Cut. How things have changed. Currently valued at $1.2 billion, the D2C brand "is well positioned to define the next era of the beauty industry,” according to Michael Abramson, a partner at Sequoia.
A judge has dismissed a lawsuit brought last year against Tootsie Roll Industries, the Chicago-based makers of Junior Mints, on the grounds that there were no actual damages in buying a box that was more air than candy — so-called slack fill packaging. “That she expected to receive something more than what she got, in and of itself, does not constitute actual damages,” U.S. District Judge John Lee said in the order, according to the Chicago Tribune.
A tech reporter who predicted the end of the so-called “landline” telephone theorizes that she will die before buying another car. “I don’t say that because I am particularly old or sick, but because I am at the front end of one of the next major secular trends in tech,” Kara Swisher, editor at large for the technology news website Recode, writes in a New York Times column. “Owning a car will soon be like owning a horse — a quaint hobby, an interesting rarity and a cool thing to take out for a spin on the weekend.”
Even a stalwart brand like Levi Strauss & Co. knows when it’s time to evolve. In the 1980s competition from brands like Calvin Klein and Gap took thunder away from the jeans company. “Fashion shifted away from denim, to khakis in the 1990s and more recently to athleisure’s mix of workout gear and casual clothing, adding to its woes,” according to Bloomberg Businessweek. “Now the company synonymous with pants says it’s found a strategy to revive its past glory: tops.”
Walmart Inc. Chief Technology Officer Jeremy King is leaving the company, according to an internal company memo obtained by Reuters. The move comes at a critical time for the retailer, as it tries to transform its ecommerce business and catch up to rival Amazon. “King, who joined the company in 2011, led a revamp of Walmart’s U.S. ecommerce technology platform by making it faster, more competitive and customer-friendly, all of which have been key to the retailer’s fight against its ecommerce rivals,” Reuters reports.
Longtime flower delivery service FTD could go out of business or shrink its operations if it doesn’t find a buyer or raise money by June 1. FTD began in 1910 when a group of 13 American retail florists agreed to exchange orders for out-of-town deliveries. “The floral delivery company acquired online florist ProFlowers and its sister brands Shari's Berries and Personal Creations for $430 million in 2014, but it has struggled recently in the face of competition from startups offering flower arrangements at lower prices,” according to the Chicago Tribune.
A jury found Bayer AG's glyphosate-based weed killer to be a "substantial factor" in causing a man's non-Hodgkin's lymphoma, allowing the trial to proceed into a second phase on liability and damages. “The jury in San Francisco federal court in a unanimous ruling found Roundup, one of the world's most widely used weed killers, to be responsible for the cancer of California resident Edwin Hardeman,” reports MSN. “It was not yet a finding of liability against Bayer, however.” Bayer acquired Monsanto, which makes Roundup. Bayer says decades of studies and regulatory evaluations, primarily of real-world human exposure data, have shown …
Green Growth Brands has opened a Seventh Sense CBD store at shopping centers in Indianapolis and Louisville. The Indianapolis location is the store’s first space leased from Simon following an agreement through which the company will gain access to approximately 108 prime shop locations in Simon malls nationwide. CBD is short for cannabidiol, the legal compound in cannabis that delivers calming benefits without the high that comes from THC.
Grocery retailer Kroger plans to end a pilot program in Arizona in which more than 2,000 grocery deliveries were made in self-driving vehicles. The program, launched last August, featured deliveries in autonomous vehicles from robotics company Nuro. The companies now will start the next phase of the program — an autonomous-vehicle delivery service at two Kroger stores in Houston that will reach customers in four ZIP codes there, according to USA Today.
Hudson Yards adds 18 million gross sq. ft. of building area to the city, more than 1 million of it retail. Upwards of 125,000 people a day are expected to inhabit Hudson Yards to live, work and play, per Chain Store Age. Neiman Marcus makes its New York debut there. Also in the lineup are Zara, H&M, Athleta, Lululemon, Rolex, Brooks Brothers, Cartier, Uniqlo, Fendi, Kate Spade, Tiffany & Co., Tory Burch, MAC Cosmetics, Banana Republic, Patek Philippe and Dior.