It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.
From True Religion’s expanding store footprint to M&M’s partnership with the Tour de France, here’s our closeout for the week.
What you may have missed
Adidas ventures into professional workwear
After they announced their long-term partnership in October, Adidas and Glo Brands B.V. launched a safety footwear collection, per a company announcement Monday. The move is Adidas’ first foray into personal protective equipment and will be available across its European markets starting in August and ranging from 100 euros to 150 euros.
The Adidas Pro Work footwear drop is designed for workers in controlled, predictable environments and mixed surfaces with wet or dry conditions. The collection also features two models designed for women’s foot shapes.
“We’ve listened to the workers who already wear Adidas outside of work, and we have delivered a comprehensive launch collection of certified safety footwear, for them to bring the same style and individuality to the job site too,” Lauren Mooney, general manager of the PPE company Glo, said in a statement.
Five Below adds to C-suite
Five Below made two executives appointments last week, naming Rodney Lastinger chief retail officer and Christos Yatrakis chief legal officer.
Lastinger most recently served as chief operating officer at GNC where he oversaw operations across over 2,200 franchise and corporate stores. He previously held roles at Conn’s Home Plus and Target.
“Rodney brings exceptional operational leadership and a proven track record of driving results and building high-performing teams across large, multi-unit organizations,” CEO Winnie Park said in a statement. “His fresh perspective and customer-focused approach will be invaluable as we continue our store expansion and further enhance our store experience.”
Yatrakis comes with more than two decades of experience leading legal corporate functions, including most recently at Allbirds where he was chief people and legal officer.
Retail therapy
M&M’s get in on competitive biking
Candy brand M&M’s is now an official supplier for the Tour de France and the Tour de France Femmes with Zwift athletic competitions, per a Wednesday press release. It’s the brand’s first time participating in the famous biking competition.
The move includes six custom vehicles, including over 600 giant M&M's candies, an interactive storytelling route following the brand’s well-known M&M's spokescandies, the distribution of thousands of M&M's sample packs, giveaways and more.
"The Tour de France and M&M'S share common values of joy, connection, and shared moments of celebration,” Victoria Abramova, president and CEO of Mars Wrigley France, said in a statement. “This partnership is a brilliant reflection of that spirit, allowing us to engage millions of fans on the road and on screens worldwide during one of the most prestigious events in global sports."
What we’re still thinking about
4
That’s how many stores True Religion plans to open in the U.S. this year, according to a Monday press release. The locations will debut in Indianapolis; Brandon, Florida; Sacramento, California; and Cherry Hill, New Jersey.
The additional stores will bring the apparel retailer’s U.S. store fleet to 61, as it continues to reach its near-term goal of operating 150 locations across the country.
The company also announced that it hired Kristen Jones as its vice president of retail. Jones brings over three decades of experience to the company and joins from Skechers, where she worked as the director of sales and operations. Jones also has experience at Target, Ross and Levi’s.
“With Kristen joining the team, we've added a proven retail expert who will be instrumental in scaling our brick-and-mortar presence, and we look forward to bringing the True Religion experience to even more consumers," True Religion CEO Michael Buckley said in a statement.
What we’re watching
Nike’s China strategy
Could Nike rescind the right for its distributors in China to sell product online and limit its online distribution in the region to just its own website? That was a possibility raised by a series of articles from Chinese news site Sina, citing anonymous sources and social media posts.
But it was enough to catch the attention of BNP Paribas Equity Research senior analyst Laurent Vasilescu, who said any decision to follow through on that would “remind us of Nike’s DTC push at the expense of wholesale partners in Western markets.”
“This strategy opened up shelf space for competitors and the strategy ended poorly for Nike,” Vasilescu said. “We believe the same could happen if it takes the same approach in China.”
China has been a problem area for Nike lately, with sales declining 7% in its most recent quarter and the region is expected to be down for the full fiscal year as well. The retailer recently revamped leadership in China, naming Cathy Sparks to head up the region in January. Previous leader Angela Dong, who spent about 20 years at Nike, left the company at the end of March.
Nike did not immediately respond to Retail Dive’s request for comment about the potential strategy shift in China.
