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Freshly Squeezed: 11.10.19

Reading Time: 2 mins
By Published On: October 11, 20190 Comments

Victoria's Secret Exec departs and H&M takes a majority stake in Sellpy. Get a healthy dose of news as we uncover the day’s top stories in e-commerce and retail.

Toys ‘R’ Us is Relaunching in the U.S

Tys ‘R’ Us is making a comeback in the United States after it filed for bankruptcy in 2018. At this current time, the website redirects to Target’s site. “Our U.S. strategy is to bring back the Toys R Us brand in a modern way through a strong experiential and content-rich omnichannel concept,” said Richard Barry, the CEO of True Kids. “The foundation of that strategy requires the help of a retail industry leader, and Target is the ideal retailer.”

Victoria’s Secret Exec Departs

Victoria’s Secret Executive Vice President of Stores and Store Operations, April Holt, has resigned. She has been with the brand for 17 years and began her Executive role in 2016. The lingerie company has faced multiple controversies in the last two years due to a lack of diversity and has since cancelled its annual VS Fashion Show.

The womenswear company has slowly begun to rebrand its image, hiring its first transgender model in August and plus-size model this week. James Mitarotonda, a hedge fund investor, urged L Brands to offload Victoria’s Secret. “…take swift action to improve the performance of Victoria’s Secret, by, among other things, correcting past merchandising mistakes and ensuring that Victoria’s Secret is communicating a compelling, up-to-date brand image that resonates with today’s consumers,” he said in a statement in March.

Despite this move forward, many consumers think it’s ‘too late’ for the brand, with others like Savage x Fenty (made by Rihanna) leading the way for women’s lingerie.

H&M Buys Majority Stake in Sellpy

H&M has made a majority stake (70 per cent) in the second-hand fashion label, Sellpy. “Secondhand is one of the fastest-growing business sectors within the fashion industry; it is a business opportunity H&M group wants to be a part of exploring,” said H&M in a statement. Within a few years, the Swedish retailer plans to raise its stake in the company to 74 per cent as it wants to explore a further contribution to close the gap for fast fashion. The retailer unveiled its latest Spring 2019 collection, with 100 per cent of the fabric being sustainably sourced. According to the company, it has lowered its emissions by 11 per cent.

Catch up on yesterday’s Freshly Squeezed news here.

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