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 over the week and what we’re still thinking about.
College athletes who have the right to enjoy their resemblance to Kim Kardashian who makes underwear for the Olympics, here is our close of the week.
What you might have missed
Walmart Launches Low-Cost Private Label Analog Insulin
Starting this week, Walmart will start offer an affordable version of insulin that would allow uninsured consumers to afford the drug. Through Walmart’s exclusive private label, ReliOn NovoLog, consumers can purchase an analog insulin vial for $ 72.88 and a FlexPen for $ 85.88. Walmart said these products would save customers between 58% and 75% off the price of other branded insulin analog products.
Where are the brands? After college sports decision, NIL player mainly switches to DTC
After the Supreme Court ruled in June that the National Collegiate Athletic Association Rules Against Compensation for College Athletes violated antitrust law, the playing field for making money was wide open. Several star undergraduates quickly moved to monetize their name, image and likeness, commonly referred to as NIL. However, this is only the beginning and most of these campaigns are decidedly DTC, including personalized products and signed memorabilia for sale on players’ personal websites. No offers yet from Nike, Adidas or Under Armor, whose marketing teams must have watched this more closely than any Super Bowl. Nor of the outsider Athleta, who has already courted two top Olympic athletes for his budding list away from the Nike juggernaut.
Bed Bath & Beyond Launches 3 Employee Benefit Programs
Bed Bath & Beyond Thursday implemented three new benefit programs. Its new paid parental leave policy, available to all full-time employees eligible for U.S. benefits, will cover up to eight weeks of full pay after the birth, adoption or fostering of a new child for parents. , the company said. Bed Bath & Beyond also announced that it will convert a voluntary short-term disability program paid by associates to a company-paid program for full-time U.S. employees, which covers full salary during the eight first weeks and 60% of salary up to 26 weeks. In addition, the company has created a partner relief fund, in which all partners can participate. The fund was created to help employees get through “various hardships,” Bed Bath & Beyond said.
Kim Kardashian provides skivvies to all Olympians
For those who pay attention to the intersection of fashion and the Olympics, the designer who comes to mind is Ralph Lauren. This year, not only are athletes subjected to uniforms that make them feel like they’re in the Navy, but they also have the pleasure of being outfitted by Kim Kardashian West’s Skims line. Kardashian West posted on his Twitter account that Skims is the official Team USA underwear, and will provide athletes with underwear, pajamas and loungewear. The pieces will also be available in capsule collection on the Skims website.
What we still think about
This is the number of stores that have open this year so far, which is up 41.8% from 2020, according to Coresight Research. Closures are down 5.7%, the first drop this year, in part because bankruptcies have slowed since the height of the pandemic.
This is the number of stores that Gap will keep open in the UK and Ireland as it step back its physical presence abroad. The company cited “market dynamics” and noted that its e-commerce business was growing.
What we watch
Who adds Reebok to their basket?
No official details have yet been released from Adidas on who Reebok will be sold to, but Reuters reported this week that the the shortlist of tenderers contains Wolverine World Wide, Authentic Brands Group (which was a wave of acquisitions lately) and a handful of private equity firms, including Sycamore Partners and CVC Capital. Adidas said it would be sell Reebok in February, after months of speculation. The company acquired Reebok in 2006 for $ 3.8 billion; Reuters said Thursday it could sell up to $ 1.2 billion.