Like other proprietors, cannabis retailers promote sales around holidays like Labor Day and Halloween, but its biggest holidays are all its own. Green Wednesday, which falls on the day before Thanksgiving and is the industry’s answer to Black Friday, is widely considered to be the industry’s second-biggest sales day annually.

But the biggest one falls on April 20, with the holiday known as 4/20, like the ubiquitous cannabis term 420:

• Sales at dispensaries on April 20, 2023, were 116% higher than the average of all other days that month, according to Springbig, whose data draws on the more than 1,200 cannabis dispensaries for which it provides loyalty program software and other marketing solutions.
• April 20 was the biggest sales day among Springbig’s network, followed by Green Wednesday, Halloween, and another cannabis-specific holiday that goes by a numeric date, 7/10.

Flower power: While consumers first discovering cannabis—or rediscovering it through non-smokable formats like edibles and vapes—might go looking for bargains at retail dispensaries on conventional holidays, 4/20 is “the diehard cannabis holiday,” Jeffrey Harris, co-founder and CEO of Springbig, told Retail Brew. “If you’re…really into cannabis and cannabis products, you’re not missing out on 4/20.”

Keep reading here.—AAN

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While luxury demand slipped for LVMH as its first quarter organic revenue increased 3%, Sephora, perfume, and cosmetics sparkled for the French company.

Organic revenue for the perfumes and cosmetics category grew 7% YoY. The company noted that skincare, makeup, and Dior fragrances like Miss Dior and J’adore performed well in the quarter. Givenchy, Guerlain, and Kenzo perfumes were also a bright spot, as were new products from Benefit and Make Up For Ever and Fenty Beauty’s expansion into China.

LVMH’s Selective Retailing division had an 11% revenue spike year over year, driven by “remarkable growth” for Sephora, the company said in an earnings report, specifically in North America (where its store count grew), along with Europe and the Middle East. Sephora also debuted its “Clean at Sephora” and “Planet Aware at Sephora” seals indicating sustainable products globally in Q1.

Keep reading here.—EC

It’s been a whirlwind week in fashion, with ups and downs for some major players. Among the highlights: One $8.5 billion merger deal got the green light, and a sportswear retailer saw unexpected demand for a controversial brand.

Tapestry + Capri deal gets the go-ahead

After announcing an $8.5 billion merger last year, Tapestry (which owns Kate Spade and Coach), received regulatory clearance this week from the EU and Japan to acquire Capri Holdings—owner of brands including Versace and Michael Kors.

Why this matters: The US Federal Trade Commission hasn’t yet signed off on the deal; it’s probed for more information on the merger, which would significantly enhance Tapestry’s European luxury portfolio. In fact, its goal is to compete with French luxury conglomerate LVMH.

Keep reading here.—JS

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