Morning Brew - ☕ Coming at you live

Fanatics is expanding its operations.
August 01, 2023

Retail Brew

Hey there! For Ed Sheeran fans who may have missed the chance to see him in concert, there was another spot to catch up with the singer: at The Wiener’s Circle in Chicago, where Sheeran was seen serving hot dogs to screaming fans as workers hurled insults at the customers (something the Chicago establishment is known for). It seems like Sheeran might have wrapped up his shift for now, but you can still go back for a killer hot dog and some curse words.

In today’s edition:

—Katishi Maake, Jeena Sharma, Matty Merritt

OPERATIONS

Live action

A view of the Fanatics ball pit at Michael Rubin's Fanatics Super Bowl Party Mike Coppola/Getty Images for Fanatics

If you are or know anyone who embodies the, “Dudes can literally just sit around and name old sports players” tweet (X?), then there’s some great news for you.

Fanatics is expanding its operations in what has been described as Comic Con for sports collectibles and memorabilia, and is also engaging its customers through a new live streaming app. The sports-centric e-commerce company is looking to get up close and personal with its customers and know a signed Brian Dawkins rookie card is the best way to pull it off.

Next year, Fanatics plans to launch an events vertical in partnership with talent management firm IMG called Fanatics Events, as it looks to diversify its portfolio ahead of a potential IPO.

  • Fanatics has tapped Lance Fensterman, former president of pop-culture events business ReedPop, to head the venture as CEO.
  • The events will host festivals featuring athletes and brands from the sports industry.

“The launch of our new Fanatics Events business provides an opportunity to celebrate all aspects of fandom—including sports, collectibles, memorabilia, fashion, music, and entertainment—under one physical roof in a way that has never been done before,” Fensterman told CNBC.

Live from the gutter: In addition to Fanatics Events, the company has also launched Fanatics Live, a livestream app where shoppers can buy and trade collectibles and merchandise and view exclusive content.

Keep reading here.—KM

     

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STORES

Moral fiber

Walmart storefront Yvandube/Getty Images

Walmart is looking for alternative ways to keep its carbon emissions in check—witness its latest partnership with fashion tech startup Rubi Laboratories.

As part of the tie-in, the retailer plans to run two pilots to test transforming carbon emissions into textiles. Walmart hopes to integrate the startup’s tech into its supply chain, and could create a sample collection based on the manufactured fabric.

Rubi Labs is already working with fashion retailers like H&M, Reformation, and Ganni, where its tech helps capture carbon emissions at factories and mills, and turns them into cellulose which can then become fabric.

“This technology could play an important role in our journey towards zero waste and zero emissions,” Andrea Albright, a Walmart EVP for sourcing, told the Business of Fashion.

But, but, but…Although Walmart may be able to produce these sustainable textiles at scale, it’s certainly not the first retailer to look into alternative fabrics.

Keep reading here.—JS

     

RETAIL

Wear these with stocks

Birkenstock sandal in display window. John MacDougall/Getty Images

“Wearing the chunkiest, ugliest shoes has always been in fashion for some. But now it’s clog girl summer, and Birkenstock is bracing for a possible September IPO that would value the company anywhere from $8 billion to $10 billion, according to Bloomberg,” writes Morning Brew’s Matty Merritt:

Two years ago, Birkenstock was acquired in a deal that valued the company at roughly $4.9 billion by L. Catterton, the private equity firm backed by LVMH, the luxury conglomerate that keeps Bernard Arnault constantly trading spots with Elon Musk on the list of richest people in the world. Since the acquisition, the brand has collabed with high-end designers like Dior and Manolo Blahnik.

Read the whole story here on Morning Brew.

     

SWAPPING SKUS

Today’s top retail reads.

All that glitters: Jewelry remains a safe investment, but supply chain concerns may bring trouble. (Vogue Business)

All around: From self-checkout lanes and TV aisles to in-store radios, Walmart customers should brace for third-party ads as the retailer begins pushing in-store advertising. (CNBC)

All the same: Looking for Overstock or Bed, Bath & Beyond? You will now end up on the same landing page; Overstock officially replaces its own name to relaunch the housewares chain. (the Washington Post)

JOBS

Are you an exec looking to make your next career move or join a board of directors? We’ve partnered with ExecThread, where you can find thousands of confidential job opportunities and board roles that aren’t listed anywhere else. Check out positions like:

SOCIAL GATHERING

A roundup of our favorite retail multimedia content from across platforms this week—from TikTok to Twitter. We’re keeping you hip, and you’re welcome.

Learner’s permit: Prada wants you to know it does more than make a pretty bag or dress. The luxury retailer showcased its latest efforts to educate and build career paths for 12 students as part of its Prada Academy. (Prada Group on Linkedin)

Sing-along: Chipotle marked National Avocado Day in the most exciting way: by running an all-day online contest giving users several opportunities to win free concert tickets to an artist of their choosing. (@chipotle on Threads)

Drink up: In a hilarious clip, one X user demonstrates the sneaky way they’re getting their customers to buy Bud Light. (@beerdefeater on X)

Familiar smells: Le Labo fragrances explains the history and origins behind its newly opened boutique in Shanghai, which also marks the fragrance retailer’s first-ever lab in China. (@Lelabofragrances on Instagram)

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Written by Katishi Maake, Jeena Sharma, and Matty Merritt

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