Weekly Wrap-up: J.C. Penney teams up with Sports Illustrated, while Pacsun debuts a gender-neutral perfume
Welcome back to the Weekly Retail Roundup! This time around, we've got some fresh scoops you might have missed, as well as a few topics we're still chewing on. Let's dive right in!
Pacsun Fragrance Expansion:
Last week, Pacsun made some waves by announcing its latest venture - the launch of a gender-neutral fragrance line. Known as Pacsun For All Fragrance, the scent features a blend of sparkling bergamot, zesty grapefruit, spicy nutmeg, fresh mint, amber wood, and soft leather notes. This fragrance marks Pacsun's continued push towards inclusivity, following the launch of its gender-neutral clothing lines like Pacsun Kids and the in-house brand, Colour Range. According to Alfred Chang, co-CEO of Pacsun, a large portion of Gen Z consumers shop outside of their assigned gender, making Pacsun's gender-neutral collection extremely popular.
Sports Illustrated x J.C. Penney Collaboration:
J.C. Penney teamed up with Sports Illustrated on a new apparel line for men, women, and children, which they're calling "Sports Illustrated for JCPenney." This collection will be available both in-stores and online starting Jan. 6, with items like tracksuits, T-shirts, shorts, joggers, crop tops, sports bras, skirts, outerwear, and more. The first offering, known as The Winter Drop, will feature subtle SI branding across the items. The line will be available at all JCPenney stores for men and women, while 300 locations will also carry the plus offerings (including big and tall sizes) and kids' apparel.
KFC Firelog Contest:
Get ready to cozy up this holiday season with KFC's 11 Herbs & Spices Firelog! Available now on Walmart's website for $15.88, the KFC Firelog will bring the tantalizing scent of fried chicken to your home. And that's not all! If you purchase a firelog, you'll receive a unique QR code on the packaging, allowing you to enter a contest to win a three-day, two-night stay for up to eight people at the KFC Firelog Cabin. The cabin is decorated with chicken-inspired home decor and features a "Colonel Bearskin rug," as well as a five-course private dinner prepared by KFC's Head Chef Chris Scott.
Chanel Advent Calendar Backlash:
Chanel faced criticism this week after customers were less than impressed with the quality of products found in their $825 advent calendar. TikTok users shared videos revealing that the calendar contained items like dust bags, miniature versions of Chanel products, and even stickers, leading many to label it a "total rip-off." In response, Chanel's president of fashion, Bruno Pavlovsky, stated that the company intended to please some of its customers with the advent calendar and acknowledged that they would be much more cautious in the future.
Wayfair Store Openings:
Wayfair announced this week that it plans to open three stores next year for its AllModern, Joss & Main, and Birch Lane brands. This marks the first in a series of store openings Wayfair is planning for all of its brands. The company first ventured offline back in 2018 with pop-ups and opened its first permanent location in 2019, although that store closed earlier this year. Many digitally native brands have turned to physical retail over the years due to the limitations of selling goods online.
GameStop Hires:
GameStop has been on a hiring spree this year, bringing in over 200 senior leaders as it works to transform into a technology-driven company. Matt Furlong, an Amazon veteran, was appointed as CEO in June and has since opened offices in Seattle and Boston to help recruit tech talent for the company's transformation strategy. However, the company has remained tight-lipped about specific plans for its transformation. Despite the lack of details, GameStop stock still trades at over 10 times its value from a year ago, with enthusiastic investors unfazed by the open-endedness of the company's plans.
Stitch Fix and the Limits of the Algorithm:
In her essay for The Atlantic, writer Xochitl Gonzalez explored the boundaries of technology-based retail, focusing on subscription-apparel-box-retailer-turned-online-store Stitch Fix. Gonzalez argued that tech cannot replace the expertise of a working specialist, like the beloved lingerie shop proprietress, Iris, whohandles undergarments and provides personalized customer service. Stitch Fix (which employs stylists to curate boxes based on customer information and preferences) recently adjusted its focus toward a direct buy option called "Freestyle," similar to offerings from Nordstrom, Macy's, Target, and others. While Stitch Fix continues to lean on its tech capabilities, the results of their most recent quarter indicated an emphasis on improving their supply chain and refining their algorithm.
- Despite some backlash, Chanel moved forward with its expensive advent calendar, containing items like dust bags and stickers, causing dissatisfaction amongst customers.
- In the realm of fashion and beauty, Stitch Fix recently shifted its focus from curated boxes to a direct buy option called "Freestyle," aiming to refine their algorithm and supply chain.
- The annual holiday season will now be graced by KFC's 11 Herbs & Spices Firelog, available on Walmart's website, bringing the aroma of fried chicken to homes and offering a chance to win a stay at the KFC Firelog Cabin.
- GameStop has been undertaking an extensive hiring spree in an attempt to transform into a tech-driven company, with over 200 senior leaders hired since the start of this year.
- Wayfair announced its intentions to open three stores next year for its AllModern, Joss & Main, and Birch Lane brands, marking the first of a series of store openings for all of its brands.
- In the sports world, J.C. Penney joined forces with Sports Illustrated on a new apparel line, "Sports Illustrated for JCPenney," catering to men, women, and children and offering items like tracksuits and sports bras, available both in stores and online from Jan. 6.
- Pacsun, with its commitment to inclusivity, announced the launch of its gender-neutral fragrance line, Pacsun For All Fragrance, composed of notes like amber wood and spicy nutmeg, making it the latest offering in their gender-neutral collection.
- The retail industry continues to feel the effects of inflation, breaking business policy and welfare, as well as the impact of ongoing wars, propelling finance professionals to focus heavily on technology and artificial intelligence to adapt and flourish in today's fast-paced lifestyle.
