In today’s top retail news, Bed Bath & Beyond is updating its supply chain infrastructure, while Hasbro’s digital business wins big in the second quarter. Also, Sephora is buying a U.K. digital beauty merchant to expand its reach, and Amazon is upgrading its luxury marketplace.
Bed Bath & Beyond Partners With Ryder To Modernize Supply Chain
Bed Bath & Beyond is “modernizing and reinventing” its supply chain to expedite merchandise replenishment through a new partnership with transport company Ryder System Inc. Ryder will operate two regional distribution centers — one in Pennsylvania and the other in California — that will cut product replenishment times to stores from 35 days to less than 10 days. This is the latest step in the company’s plans to overhaul its supply chain management as part of a $250 million capital improvement project.
Digital Business Helps Hasbro Make Up For Lagging Board Game Sales
Following a year in which board games were among the highlights of social interaction, Hasbro has seen a decrease in demand for some of its mainstay products, but an acceleration in its digital gaming and entertainment divisions. The digital gaming business, which also includes the Wizards of the Coast brand, saw explosive second-quarter growth, with revenue jumping nearly 118 percent versus 2020. Hasbro said its entertainment division also saw strong growth in the second quarter, with a 47 percent increase in revenue as theatrical releases and content production return to pre-pandemic levels.
Sephora Advances European Growth Strategy With Acquisition Of Feelunique
In a move that provides it with a formidable presence in the British beauty market, Sephora is purchasing digital beauty merchant Feelunique, a deal that is expected to close later this year. Martin Brok said in a statement that the transaction is “a key step” in Sephora’s European growth strategy. Feelunique was established in 2005 and has 1.3 million active customers. The cosmetics and personal care market in the U.K. was valued at over $10.5 billion in 2019.
Amazon Upgrades Luxury Marketplace With Glossy Ads Aimed At Designers, Customers
Less than a year after the inception of Amazon’s Luxury Stores, the company has opened the doors to more consumers and has started using the platform as an opportunity to introduce people to new designers. Amazon recently announced the debut of Chufy, a label that was launched in 2017 by art director and fashion consultant Sofía Sanchez de Betak, as well as Pietro Simone beauty products. The eCommerce giant’s foray into luxury is part of “Amazon Fashion Connects,” an effort to build relationships with new and established European designers.
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