Three Dog Night’s prescient lyrics warned us all that while one is most certainly the loneliest number, “Two can be as bad as one / It’s the loneliest number since the number one.”
In love, this is true, but in retail, friends in high, low and every other place in-between can be just what merchants need to dig themselves out of a rut.
At least that’s the driving force behind most of the members of this week’s Retail Bedfellows Tracker.
Lululemon Does Rio
After a lifetime of training for the athletes and what looks to be a few half days of work for the city’s construction crews, the 2016 Summer Olympics in Rio are ready to kick off with Opening Ceremonies on Friday (Aug. 5). It’s always a big moment for sponsors looking to increase brand awareness, and one of the biggest athleisure retailers on the market thinks Rio is their time to shine.
When Canada’s beach volleyball team hits the sands of Rio’s shores, they’ll do so in uniforms engineered by Vancouver-based Lululemon, Fast Company reported. The team-up will be the product of a year of research and development at Lululemon’s British Columbia headquarters, a process that saw the company develop a new material they call “Aquelu” adept at moisture wicking, flexibility and stability when athletes are moving around – a critical requirement considering the somewhat objectifying effects of beach volleyball uniforms.
“As women in sports – and especially in beach volleyball – we are not always taken seriously,” Canadian Olympian Heather Bansley told Fast Company. “This is my profession and my craft; I take it seriously. I want to step out there feeling strong and powerful, and I want that to be portrayed in what I am wearing.”
Tesla Soaks Up Some Sun
Tesla’s mission to bring self-driving electric cars to America’s roadways has stalled at least as far as public relations are concerned, but automobiles are far from Elon Musk’s only project. A man at his level naturally has fingers in many pots, but Musk looks to be consolidating those pots for the time being.
Tesla announced Monday (Aug. 1) that it had finalized a purchase of and merger with solar energy firm SolarCity (which is also founded and owned by Musk). The deal had an equity value of about $2.6 billion, and Tesla said that it expects “to achieve cost synergies of $150 million in the first full year after closing.”
That may be a distinct possibility, too, if the merged company can get its residential battery business off the ground.
“Tesla is getting ready to scale our Powerwall and Powerpack stationary storage products and SolarCity is getting ready to offer next-generation differentiated solar solutions,” the company said in a statement. “By joining forces, we can operate more efficiently and fully integrate our products, while providing customers with an aesthetically beautiful and simple one-stop solar [and] storage experience: one installation, one service contract, one phone app.”
The Backdoor To Indian Retail
If the global retail economy was a high school prom, then the Indian market would be the homecoming queen that all of the star football players are pursuing. The potential for growth, especially in consumer electronics like smartphones, is irresistible to some – and an increasing likelihood for others.
Chinese telecom and smartphone manufacturer LeEco looks to be sorting itself into the latter category. The Times of India reported that LeEco has struck a deal with several regional Indian retailers to expand its base of storefronts to 2,000 in 65 cities. By the end of the year, that figure could be as high as 8,000.
“This marks another milestone in our India journey that has been incredible so far,” LeEco India COO of smart electronics Atul Jain said in a statement. “Our strategy to strengthen our offline business is a testimony to our commitment to the Indian market. For this, we have tied up with some of the well-known names in offline retail across geographies and we will continue to add more partners as we go along.”
Like the California Gold Rush, it might be time for other retailers to get a move on before all the best claims are taken.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More