Morning Brew - ☕ Business class

Luxury’s global expansion starts with India
Morning Brew September 07, 2022

Retail Brew

Bolt

Hey, hey. If you’re in the market for some weirdly relaxing retail-related TikTok content, might we recommend our latest obsessions: a Target order packer and a Trader Joe’s sign artist.

In today’s edition:

—Jeena Sharma, Erin Cabrey

LUXURY

New horizons

New horizons Le Mill

Since Louis Vuitton’s arrival in India in 2002, several brands, like Gucci, Dior, and Hermès, have set up shop in the world’s second most-populated country, making the nation an up-and-comer in the luxury-goods category. And the recent arrival of the likes of Balenciaga and Valentino has only invited more attention to the country as a potential luxury hotspot.

Still, most luxury brands coming to the country have chosen to do so through a partnership with companies like Aditya Birla Group or Reliance Brands Limited, a conglomerate that has brought 50 international brands including Armani Exchange, Bottega Veneta, and Burberry into the country.

  • Per Swarooprani Muralidhar, senior analyst at Coresight India, foreign brands prefer to partner with these groups, as they are more likely to navigate the nuances of the Indian market.

Worth an estimated $8.5 billion in 2022, up from $2.5 billion in 2021, the Indian luxury market is on track to be one of the fastest growing in the globe, according to Euromonitor International. This is in part because of the varying cultures within India’s population of ~1.4 billion.

Le Mill—the Mumbai-based multi brand luxury retailer founded 11 years ago by two French natives, Cecilia Morelli and Julie Leymarie—houses a number of brands including Celine, Dries Van Noten, and Zimmerman in its stores. Le Mill is an example of how a house of brands can work in India, guiding luxury retailers through the labyrinth of Indian society.

Keep reading here.JS

        

TOGETHER WITH BOLT

Do abandoned carts haunt your biz?

Bolt

Roughly 70% of all online shopping carts are abandoned. Dun, dun, duuuun. But this eerie trend isn’t an unsolved mystery—it’s often caused by a confusing checkout process.

The solution? A seamless, one-click checkout experience that can boost conversions and revenue. If you crave more enlightening data on what stops customers from purchasing, dive into Bolt’s exclusive research.

Bolt surveyed shoppers about why they let carts languish before checkout, and their reasons were pretty eye-opening. The team channeled these thoughts into a host of insightful tips for retailers to help them avoid $$$-costing mistakes. Just in time for holiday sales, too.

Free the carts from their spooky shackles and download Bolt’s free report.

        

GROCERY

Band of misfits

Misfits Market box with food items Misfits Market

Misfits Market is seeking a more (im)perfect union within the e-comm grocery space, announcing today its plans to acquire Imperfect Foods in a “mostly stock transaction,” Misfits CEO and founder Abhi Ramesh told Retail Brew.

  • Philadelphia-based Misfits was valued at $2 billion last year after raising $225 million, while Imperfect was worth $700 million after bringing in $95 million in January 2021.

The two sustainability-minded online grocers, founded three years apart (Misfits in 2018 and Imperfect in 2015), share similar ethos around food-waste reduction, Ramesh noted. He said acquisition discussions began a few months ago, when Misfits connected with Imperfect investors and management as Imperfect was beginning a funding round and suggested the two join forces.

“Their team…said, ‘Hey, we agree. Capital markets are a little bit more challenging these days than they were a year ago and we see the brand alignment, we get the mission alignment, and we see the operational similarities and efficiencies, so let’s dive in,’” he said.

In the market: The two brands will “coexist” in the short term, Ramesh said, and will likely integrate over the next year (what that exactly looks like is still TBD, but they’ll eventually form a “unified brand.”). Their operations, however, will be consolidated more quickly, he noted, using both companies’ logistics networks to fulfill deliveries and merging their product assortments, including both companies’ private-label products (Imperfect has 100+ items of its own, Misfits rolled out its label Odds & Ends in April.)

  • Ramesh will serve as CEO across the combined company, with Imperfect CEO Dan Park staying on during the transition.

Turning green: The deal offers “the scale that neither brand could really achieve standalone without a lot more time, a lot more capital,” Ramesh told us. That provides a “clearer path” to profitability by early 2024, with a predicted $1 billion in sales.

Keep reading here.EC

        

TOGETHER WITH BOLT

Bolt

What’s stopping the shopping? Abandoned carts are a trillion-dollar problem in e-commerce…annually. Why are so many shoppers dipping out during checkout? Bolt’s research suggests issues like sticker shock and checkout hassles are to blame. Wanna avoid such common pitfalls before the holiday season? Read Bolt’s free report.

        

COMMUNITY

Coworking with Nikki Baird

Coworking with Nikki Baird Nikki Baird

On Wednesdays, we wear pink spotlight Retail Brew’s readers. Want to be featured in an upcoming edition? Click here to introduce yourself.

Nikki Baird has spent over 15 years as a retail industry analyst, starting with firms like Forrester before co-founding her own, Retail Systems Research. Now, she’s VP of strategy at retail solutions provider Aptos—read on to find out what her role entails.

How would you describe your job to someone who doesn’t work in retail? I look after the future, and interpret what it means for both retailers and how our solutions help retailers. For the average consumer, it means that I look at all the new ways you want to engage with retailers and figure out how much retailers will have to change in order to continue to meet your continuously rising expectations.

One thing we can’t guess about your job from your LinkedIn profile? I was WFH long before the pandemic—over 20 years now.

What’s your favorite project you’ve worked on? We invested a lot of time and effort in defining out some forward-looking consumer experiences—things that blended digital and store, like “See it on Instagram, buy it in store” or “Shop Serena Williams’s locker” as examples. We designed them down to the screen-by-screen interaction that a consumer would have. It was a goldmine of things to put on our roadmap for the foreseeable future, and it was really fun to dream it, but then see how we might actually make it come to life.

Which emerging retail trend are you most excited about this year, and why? Rethinking the role of the store associate. It’s been long overdue—right before the pandemic hit, I think retail had hit an all-time low, where a front-line job had gone from something you could make a career out of, to a disposable job with disposable pay. The pandemic and the labor crunch that has come since have refocused retailers on putting meaning back into front line jobs at a time when retail is seeing pressure to change how store associates interact with everything from customers to inventory to technology.

Keep reading here.—EC

        

SWAPPING SKUS

Today’s top retail reads.

Break point: How Serena Williams’s brand partnerships opened the door for other female athletes. “Serena was a catalyst,” said Michelob’s VP of marketing Ricardo Marques. “She gave confidence to brands like us to come forward and put these commitments, dollars, to make that support more visible.” (Bloomberg)

Fair play: E.l.f. Beauty has become the first brand to have its factories Fair Trade Certified—and more beauty brands might follow. (Fast Company)

Picture of health: Nutrition advocates and food trade groups continue to debate the addition of front-of-pack labeling to food products to identify health risks like excessive sugar and fat. (the Wall Street Journal)

EVENTS

10 world-class speakers. 2 days of ideas, inspiration, & networking.

world-class speakers.  days of ideas, inspiration, & networking.

Join over 2,000 senior executives and decision-makers from across the globe at the World Business Forum! Learn from and be inspired by the world’s best minds this Nov. 2–3 in New York City. Contact us today to learn more and take advantage of our early-bird pricing.

WHAT ELSE IS BREWING

  • Target CEO Brian Cornell will remain with the retailer for three more years after its board nixed the mandatory retirement age of 65.
  • Bed Bath & Beyond named its chief accounting officer Laura Crossen interim CFO.
  • Hero Cosmetics, maker of the Mighty Patch, was acquired by Church & Dwight.
  • The International Brotherhood of Teamsters, one of the country’s largest labor unions, debuted a new division focused on the unionization of Amazon employees.
  • Boots will debut an online marketplace for health and beauty brands.

SHARE THE BREW

Share Retail Brew with your coworkers, acquire free Brew swag, and then make new friends as a result of your fresh Brew swag.

We’re saying we’ll give you free stuff and more friends if you share a link. One link.

Your referral count: 2

Click to Share

Or copy & paste your referral link to others:
morningbrew.com/retail/r/?kid=303a04a9

 

Written by Jeena Sharma and Erin Cabrey

Was this email forwarded to you? Sign up here.

WANT MORE BREW?

Industry news, with a sense of humor →

  • CFO Brew: your go-to source for global finance insights
  • Future Social: the Brew's take on the world of social media
  • HR Brew: analysis of the employee-employer relationship
  • IT Brew: moving business forward; innovation analysis for the CTO, CIO & every IT pro in-between

Tips for smarter living →

Podcasts → Business Casual, Founder's Journal, Imposters, and The Money with Katie Show

YouTube

Accelerate Your Career with our Courses →

ADVERTISE // CAREERS // SHOP // FAQ

Update your email preferences or unsubscribe here.
View our privacy policy here.

Copyright © 2022 Morning Brew. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011

Key phrases

Older messages

🚀 T-3 weeks until Emerging Tech Brew Summit

Wednesday, September 7, 2022

RSVP for your free ticket today! Featured Speakers Mark Cuban Entrepreneur Amy Webb Founder & CEO, Future Today Institute Dawn James Director of Global Industry Strategy - Energy &

☕ Read you like a book

Wednesday, September 7, 2022

Exploring how health data is used. September 07, 2022 Marketing Brew TOGETHER WITH Smartsheet Hi. It's Wednesday...and here are some stats: More Americans are buying luxury cars than ever before,

☕️ More data, more problems

Wednesday, September 7, 2022

The more data a city collects, the greater the risk of a cyberattack. September 07, 2022 Emerging Tech Brew Welcome back. If you're someone who gets excited about things like cellularly cultivated

☕ Worrying, darling

Wednesday, September 7, 2022

How's that bitcoin experiment working out, El Salvador? September 07, 2022 View Online | Sign Up | Shop Morning Brew TOGETHER WITH reAlpha Good morning. Friendly reminder that later this month we

☕ Venture on

Tuesday, September 6, 2022

Breaking down today's tricky funding environment for beauty. September 06, 2022 Retail Brew TOGETHER WITH Bolt Good afternoon! We can't stop thinking about the opening of YouTube-famous MrBeast

The statistic that keeps us awake at night

Saturday, September 24, 2022

Millions of people read The Intercept's groundbreaking investigative journalism. But just 1 percent ever donate. That's a problem. Millions of people read The Intercept's groundbreaking

[ALERT] - “Squad” Member Rashida Tlaib Goes Berserk…

Saturday, September 24, 2022

Here's What Happened Please read orunsubscribe here Conservative News [ALERT] - “Squad” Member Rashida Tlaib Goes Berserk… And Biden Lets Them? Here's What Happened >>> Learn more

Weekender: What Happens on the Internet Every Minute (2022 Version) [Infographic]

Saturday, September 24, 2022

Sept.​ 24,​ 2022 Sign up | Forward #paid BROUGHT TO YOU BY — #paid Wonder if influencer marketing is working? Stop guessing. Use #paid's measurement suite to help you track influencer-driven sales,

Ether’s Post-Merge Plunge | Helium’s Hoarding Honchos Exposed

Saturday, September 24, 2022

Also: Crypto Darling Helium Promised A 'People's Network.' Instead, Its Executives Got Rich Also: Crypto Darling Helium Promised A 'People's Network.' Instead, Its Executives

Tech vet plants an immersive light show in the desert at Burning Man

Saturday, September 24, 2022

The problem with hybrid work | The next generation of smartphone users GeekWire SPONSOR MESSAGE: The GeekWire Summit returns October 6th-7th, hear from some of the top names in tech, plus unique in-

YOU LOVE TO SEE IT: Solar Schools Take Off

Saturday, September 24, 2022

Also, the health care industry faces pressure to divest from fossil fuels, a high school climate activist wins big, a pro-book initiative takes off, and Home Depot workers start to organize. YOU LOVE

Your new crossword for Saturday Sep 24 ✏️

Saturday, September 24, 2022

Help us reach our goal We're committed to keeping our work, including our midterm coverage, free, because we believe that an informed electorate is critical to the future of American democracy.

Brace for Turbulence

Saturday, September 24, 2022

Columns and commentary on news, politics, business, and technology from the Intelligencer team. Intelligencer Weekend Reader Required Reading for Political Compulsives 1. Adnan Syed's Accidental

Weekend Briefing No. 450

Saturday, September 24, 2022

A Saturday morning briefing on innovation & society. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

☕ Already emerged

Saturday, September 24, 2022

A spacecraft's about to hit an asteroid... September 24, 2022 View Online | Sign Up | Shop Morning Brew TOGETHER WITH Cariuma Good morning. Today is a bittersweet day, because after nearly two