Tennis star Naomi Osaka announced on her Instagram that she is the latest celebrity to join Victoria’s Secret’s VS Collective rebrand. Other ambassadors for the brand include Hailey Bieber, Priyanka Chopra, Eileen Gu and Megan Rapincoe. “Under scrutiny for the lack of body diversity as well as the public’s negative view in the objectification of women in its runway ‘Angels,’ 2019 signaled the end of the Edward Razek-formed Victoria’s Secret Fashion Show — an annual fashion show where the likes of Claudia Schiffer, Tyra Banks, Heidi Klum, Gisele Bündchen, and Adriana Lima were once featured,” per Hypebeast.
CVS will close roughly 300 stores in the next three years, about 9% of its total of more than 9,900. The step is "part of an effort to realign its retail strategy," by focusing "on offering more health care services and expanding its digital services," according to The New York Times.
"Lowe’s Cos. is aiming to become a one-stop retail destination for consumers who want to remain in their homes as they age" with the launch of Livable Home, according to Chain Store Age. Aided by AARP, Lowe's associates will be trained to help consumers find age-friendly options. "In select locations, Lowe's independent service providers network of professionals will also provide assessments, installation and ongoing customer service support" for such projects as low-threshold shower installation and temporary or permanent stair lifts and ramps.
Actress Gal Gadot is launching Goodles, positioned as a healthier version of the classic packaged mac and cheese, boasting 14 grams of protein, six grams of fiber and 21 nutrients from organic vegetables. Four versions are available now D2C at the company's website and are set to retail in grocery stores in early to mid-2022. It's the first product from Gooder Foods, which the "Wonder Woman" star co-founded with Jennifer Zeszut, the former CEO of healthy baby food brand Cerebelly.
L.A.-based arena The Staples Center, home of the Lakers as well as other professional sports teams, is rebranding as Crypto.com Arena, taking on the name of a cryptocurrency platform based in Singapore. The new moniker reflects the fact that "cryptocurrencies dominate the business zeitgeist," according to The New York Times. The previous American Airlines Arena, where the Miami Heat play, was likewise renamed the FTX Arena after a cryptocurrency exchange based in Hong Kong.
Automakers and dealers usually promote holiday season sales with slogans like Lexus's "A December to remember.” But spending is likely to be be down this holiday season, industry executives and analysts say. “A year of supply chain and production disruptions have left auto dealerships with roughly one-third of the normal inventory levels, giving sellers little reason to shell out for splashy holiday ads,” per Reuters.
Johnson & Johnson plans to split off the $15-billion-a-year consumer division that sells Band-Aid bandages, Tylenol medicines and Johnson’s Baby Powder in 18-24 months. “The world’s largest health-products company by sales will separate its high-margin but less predictable prescription-drug and medical-device businesses from its storied but slower-growing consumer group, creating two publicly traded companies,” per The Wall Street Journal.
Ikea, hit hard by global supply chain issues like other retailers, is raising its prices. It might be bad news for consumers, but sustainability experts argue that higher Ikea prices could actually be a win for the planet. “It’s now clear that cheap, disposable furniture–the kind Ikea specializes in–is an environmental disaster,” per Fast Company. “More sustainable alternatives, like durable, locally made furniture, haven’t been able to compete with Ikea’s low prices. But if the company begins raising prices, it might prompt consumers to explore other, more eco-friendly alternatives."
D2C bedding and furniture company Casper Sleep Inc. is set to be acquired by Durational Capital Management LP and is getting a new chief executive officer. CEO Philip Krim, who co-founded Casper in 2014, has stepped down and Emilie Arel, who serves as president and chief commercial officer at Casper, has been appointed CEO, effective Nov. 15. Arel has experience at brands including Quidsi, Gap and Target.
The National Retail Federation and the National Association of Convenience Stores are among 11 trade groups suing the federal government to suspend a proposed COVID-19 vaccine mandate. The groups are seeking a stay of the Occupational Safety and Health Administration’s planned vaccination requirement, which they claim is too sudden, being applied to employers unfairly, and will cause “irreparable harm” amid unstable economic conditions and the upcoming holiday season.