Closing Week Report: Fanatics buys Topps, Barbie's fashion partnership with Balmain is launched
Revamped Weekly Retail Roundup
Here's a rundown of the latest retail news you may have missed this week. From acquisitions to collaborations, we've got you covered!
Fanatics Steps Up Its Game with Topps Acquisition
Digital sports platform Fanatics snapped up trading card company Topps this week. This acquisition marks the foundation for Fanatics Trading Cards, a business launched last year following agreements with various professional sports leagues, like MLB and the NBA. With a focus on becoming the leading digital sports platform, Michael Rubin, Fanatics CEO, expressed his excitement about adding Topps to their team. Around 350 Topps employees will join the Fanatics Trading Cards family, with David Leiner and Tobin Lent continuing to lead Topps within Fanatics.
P&G Steps into Skincare with Tula Acquisition
P&G has been on a beauty acquisition spree lately, and this week was no exception. The conglomerate announced its acquisition of skincare brand Tula, which follows its recent purchases of Ouai Haircare and Farmacy Beauty. As skincare, hair, and personal care categories are crucial to P&G's beauty strategy, the company is looking to strengthen its presence in the market.
Designer Collaborations in Full Swing
This week saw the unveiling of Mattel's latest collaboration with French fashion house Balmain on a ready-to-wear fashion and accessories collection for Barbie. The partnership also includes the release of three NFTs featuring Barbie and Ken avatars, each coming with a bespoke set of "Barbie-sized Balmain pieces." Furthermore, soccer icon David Beckham's brand-management company, DB Ventures, has reportedly been acquired by Authentic Brands in a deal valued at $269 million.
Retailers Adapt to Omicron Variant
As the number of Omicron variant cases rises, retailers are responding accordingly. Macy's has decided to temporarily shorten store hours, while Walmart has announced plans to hire over 3,000 associate delivery drivers to expand its in-home delivery service. The retail giant aims to reach 30 million U.S. households with this service by the end of 2022.
At Home and Ty Pennington Launch Exclusive Collection
Television host and designer Ty Pennington has partnered with At Home to launch an exclusive collection featuring wall art, textiles, furniture, rugs, and more. The collection is set to start at $4.99, with Pennington working closely with At Home's creative and merchant teams to source materials.
Zooming Out
Theventure has been a game-changer for Fanatics' trading card business post-Topps acquisition. With strong product launches, innovative events, and a rapidly growing presence, Fanatics is disrupting the established trading card convention landscape. The company's strategy combines exclusive physical releases, digital innovations, and immersive experiences to appeal to the modern collectibles market.
- The acquisition of Topps by Fanatics, a digital sports platform, will fuel Fanatics Trading Cards' ambition to become the leading digital sports platform.
- P&G, a conglomerate in the fashion-and-beauty and retail industry, has expanded its beauty portfolio with the purchase of Tula, a skincare brand.
- Collaborations in the fashion world continue to thrive, with Mattel unveiling its latest collaboration with Balmain for Barbie's ready-to-wear fashion and accessories collection.
- As the Omicron variant spreads, retailers are making adjustments, with Macy's shortening store hours and Walmart hiring over 3,000 delivery drivers to expand its in-home service.
- Television host and designer Ty Pennington has partnered with At Home to launch an affordable and extensive collection, spanning wall art, textiles, furniture, and more.
- The trading card business of Fanatics has seen a boost post the Topps acquisition, with strong product launches, digital innovations, and immersive experiences setting them apart in the market.
- Finance and trade analysts are closely watching the $269 million acquisition of David Beckham's brand-management company, DB Ventures, by Authentic Brands, with potential implications for the sports and retail industries.
