LVMH-Backed L Catterton Buys Sandal Maker Birkenstock, Target to Roll Out Dedicated Apple Shops Inside 17 Locations and American Eagle Creates AR Shoppable Jeans Guide for Snapchat
LVMH-Backed L Catterton Buys Sandal Maker Birkenstock
L Catterton, the private equity firm backed by luxury French fashion house LVMH, agreed to buy iconic German sandal maker Birkenstock. The investment firm and the family behind Birkenstock announced the deal on Friday without disclosing the financial terms. Bloomberg News reported earlier this week that the purchase would value the sandal maker at about $4.9 billion. “Our global platform and network will provide Birkenstock not only with new opportunities, but the resources to support the continued growth in the brand and the business,” Michael Chu, co-chief executive officer of L Catterton, said in a statement.
What stood out to us? What a long strange trip its been.
Target to Roll Out Dedicated Apple Shops Inside 17 Locations
Target is beginning to open dedicated Apple shops in 17 of its locations starting this month, according to a Thursday press release. Target plans to expand the Apple shop-in-shops by the end of the fall. Apple products are already sold in Target stores, but the dedicated shops would double the tech giant's footprint in select stores and expand its offerings. The collaboration also expands the product assortment online. "Apple products are popular with Target's guests, and this new, dedicated shopping experience offers enhanced service and expanded offerings, building on our strength as a go-to destination for electronics," Christina Hennington, executive vice president and chief growth officer at Target, said in the release.
What stood out to us? Better than accepting Amazon returns to boost store traffic.
American Eagle Creates AR Shoppable Jeans Guide for Snapchat
As part of American Eagle's Spring 2021 Jeans Are Forever campaign, the retailer will debut its AE x Snapchat AR Jeans Guide, which allows users to view jeans in augmented reality, the company announced on Thursday. The guide's multi-URL 3D shoppable jeans lenses let users view different types of 3D American Eagle jeans in AR by using the back camera, the company said. The feature includes a "range of fashion denim" for men and women. When users virtually turn a pair of jeans, they can see specific fits, washes, unique details and styling advice, as well as click to buy.
What stood out to us? Finally, a solution to the difficult challenges of finding and buying jeans. #firstworldproblems
Before you go
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