The Weekly Closeout: Yeezy Gap hoodie looks like a hoodie and Eastbay launches its first private label
It’s been another week with a lot more retail information than there is time in the day. Below, we break down some things you might have missed and what we’re still thinking about.
From a mash-up of supreme and true religion to Claire filing for an IPO a few years after her Chapter 11 bankruptcy, here’s our close of the week.
What you might have missed
Targeting professional customers, Home Depot partners with Ring for jobsite safety
The Home Depot on Wednesday announced its partnership with Ring, known for its home security products, on a device intended for offer safety to construction sites. Ring Jobsite Security will use the new Ring Alarm Pro, which, when paired with Ring’s pro subscription service, will provide the tools needed to keep devices, like security cameras, online.
This decision, aimed at the professional customer, also offers Home Depot the possibility of gaining even more market share with this audience.
âRing Jobsite Security will help building and construction professionals protect and grow their businesses, regardless of size,â said Wes Neece, Home Depot’s vice president of merchandising, electrical and lighting, in a statement. âIn the past, only large builders could afford the security necessary to protect construction sites. Ring Jobsite Security demonstrates our continued commitment to providing the most innovative products on the market at the best value for money to our business customers.
Supreme and True Religion team up for a fall collection
Streetwear brand Supreme and clothing brand True Religion have collaborated on a collection, according to a press release. Items include jackets, sweatshirts, hats and more. The collection will be available in Supreme stores and on supremenewyork.com from this week.
âA partnership with Supreme is the ultimate testament to the cultural relevance of any brand,â said Michael Buckley, CEO of True Religion.
Supreme, over the years, has notoriously formed unlikely partnerships with several brands and franchises, including Shrek and Oreo.
This event is poppin ‘
What’s better than Halloween? Halloween with balloons.
Party town this week announced an âimmersive pop-up balloon installationâ called Boo-Loon Land from October 15 to 17 in New York City. Guests will walk through six Halloween-themed rooms, including Dia de los Muertos, Fall Harvest, Black and Bones, Iridescent Glam, and more. Some of the best balloon artists in America (which has to be one of the best jobs ever) will create the installations.
Guests can also bake treats, learn how to design a balloon garland, and chat with Party City specialists for tips on how to throw a big Halloween party. Tickets are free but guests you have to sign up.
Kanye has a hoodie
Yeezy Gap dropped another pre-order opportunity this week, this time a plain 100% cotton hoodie in six colors that is like paying extra to get the classic Gap logo hoodie without logo.
Surely that’s what Gap Inc.’s CFO Katrina O’Connell meant when she told analysts in August that the brand’s collaboration with Kanye West involves “a creative process versus a more traditional process and so you know that will lead to gradual excitement as this all builds up, but it will also lead to a different path.”
The mark-up may reflect that removing the Gap logo from a garment would likely destroy it. In addition to paying $ 90 up front ($ 70 for kids’ sizes), fans of the non-emblem sweatshirt must be in the United States to get one, and will have to wait two to eight weeks for an order. be shipped, according to a press email. Release.
Bloomberg reported that the hoodies were marked as sold out on the Gap site within hours of delivery, but that begs the question: how can you sell from a pre-order?
What we still think about
That’s roughly how long it was since Claire’s Stores came out of bankruptcy. Hampered by debt and the changing shopping mall landscape, the company entered Chapter 11, closed a bunch of stores, eased its balance sheet, and came out whole but smaller. Now, after the increase in sales and profits, he has filed an initial public offering, one of 10 companies in the sector to do so this year. He was also the third Chapter 11 retail alumnus to file for an IPO in September.
> $ 1
Dollar Tree Expands Its foray into higher prices with an expansion of its Dollar Tree Plus concept, as well as by increasing prices in some of its traditional stores. The move comes at a time when the retailer is pressed by soaring supply chain costs that swallow up its profits. The discount is particularly vulnerable to supply inflation due to its price tag of $ 1. Executives also say having prices of $ 3 and $ 5 in its Plus stores helps it expand its assortment. The new company, expandable format which combines Family Dollar with Dollar Tree in one store also creates a place for higher prices.
What we watch
Eastbay’s entry into private label
Eastbay, Foot Locker’s high school-focused brand this week announced its first private label will launch a performance line on Monday aimed at serving “the holistic athletic lifestyle, from the field to the gym to the streets.” Eastbay and Champs Sports, another Foot Locker brand, will sell the line in stores and online. Foot Locker said the new private label will roll out seasonally until 2022 and will also include collections for women and children.
It includes compression items for performance, “gymtech” clothing for training, fleeces and hoodies for casual wear, among others. Eastbay also secured Philadelphia Eagles quarterback Jalen Hurts as the first brand ambassador for the Eastbay Performance line.
Private label brands performed well for some retailers, including Target, including the private label sportswear brand notched $ 1 billion in its first year. Dick’s Sporting Goods is also joining Foot Locker to experiment with more private labels: launched a brand of men’s clothing nicknamed “VRST” in March. She already operates Calia, a private label focused on women, and DSG, a family brand.