No. 20: Jellycat is the new Beanie Baby, and I don't hate it
plus, Sporty & Rich's latest collab, is luxury canceled?, & a personal update
Happy Friday! What a week. No need to get into it — but I for one have never been more ready for a weekend. Hope this takes your mind off things!!
🧲 OBSESSION OF THE WEEK
I’ve written about Sporty & Rich in this newsletter before, and their latest collab is definitely my current obsession.
The brand launched a collection in partnership with the iconic Carlyle Hotel in NYC and leveraged old images of celebrities leaving its lobby — including Princess Diana and Jackie O, casual.
To me, this launch is a great example of a brand leveraging a sense of place and time to associate your brand with a particular feeling. Collabs are a great way to “buy” cachet and I think this one hits all the right notes.
🍿 BRAND NEWS
Jellycat stuffed animals are a Gen Z obsession and are considered be the new Beanie Babies as growth has 8xed in less than a decade, driven largely by social media and our general infatuation with nostalgia and cute things. I love this, because I feel like every generation needs a collective obsession that transcends logic and is just plain silly. Personally, an avocado toast stuffed animal is a NEED, not a WANT.
This McKinsey article about the future of private label brands was interesting — essentially, consumers no longer associate private label with low quality, so long as retailers are willing to invest in branding, insight-driven R&D, and, of course, cost-effective sourcing. What do you guys think — are there any private label brands you’re a fan of?
Speaking of consumer perception: apparently more than half of us (51%) believe that used products are higher quality than new. Beyond the RealReal, this mentality may explain the rise of products like vintage wedding dresses and the popularity of estate sales.
Not everything from the 90s is back. TGI Friday’s is going bankrupt, and they owe $50 million in unused gift cards. Yikes.
Sabrina Carpenter is collaborating with Verve Coffee in LA on a “Short N Sweet” themed coffee popup, with a blue color palette, plenty of hearts, and a Dumb & Poetic latte — from November 15-17.
Tapestry, Coach’s parent brand, reported better-than-expected sales this quarter (flat, but not declining!)— attributable to Coach. I’ve seen them invest really hard with Gen Z so this makes sense. May require a deep dive…
In case anyone in NYC needs a listening ear after this week, the Grandma Stand in NYC is a thing. It’s exactly what it sounds like — a stand with a grandma, waiting to give advice or maybe just a hug.
DoorDash is focusing in on what they consider an ‘overlooked’ segment: local grocery shops. I don’t know how I feel about this — going to my local corner store to buy some bananas is one of the few experiences I don’t feel the need to outsource. Thoughts?
Prada sales are up 18%, largely attributable to the explosive growth of Miu Miu, the favorite brand of fashion girlies on TikTok. I wonder how long this will last, since as we know, “it” brands don’t last long in the age of microtrends.
I saw a TikTok about this new $99 product called FlyKit that prevents jetlag, with customized supplements, a curated sleep schedule and an app with helpful tips and tricks. I don’t know if I buy it, but it’s created by the former Head of Human Performance in the US military — which definitely adds to the credibility. Would you try it?
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🆕 TREND REPORT
The tea with Starbucks. With revenue down another 3%, Starbucks CEO Brian Niccol (ex-Chipotle) is trying to reverse the trend. Under him, the business is getting rid of the Oleato menu (who thought olive oil in coffee was a good idea again?) and has removed the surcharge on alt-milks, which is actually a huge deal considering it’s the second-most requested option from customers after a second shot of espresso. However, it looks like Luckin, the Starbucks of China, is right on their tail.
Luxury, democratized. This is a fascinating article from the WSJ about what the future of luxury may look like as consumers care more about quality and less about signaling, and growth in China has come to a halt. The article also attributes social media as a huge driver — when something is ubiquitous, it’s no longer exclusive, and can’t command as high of a price.
Creator brands x Walmart. Walmart is becoming the go-to retailer for launching creator brands (think Feastables and Prime Hydration), and this Forbes article details why. The tldr: it’s an acquisition strategy. By investing in collabs and exclusives, Walmart has become a cool retailer with Gen Alpha, and Gen Alphas can influence their millennial parents to shop at Walmart for all the other household essentials.
🎲 ONE LAST THING
On a bit of a personal note, BOXFOX, the company I cofounded with Chelsea Moore Shannon and Jenni Stern, turned 10 years old on Thursday! I waxed poetic on LinkedIn, but I did want to share an exciting update… which is that we got acquired!
BOXFOX’s new owner is Sugarfina, makers of the most aesthetically packaged candy ever — and together, the brands will become an even more powerful force in the gifting space. You can read the full press release here.
Though I’m no longer involved in the day-to-day, this sale comes after a decade of hard work bootstrapping our female-founded business against all odds (I’ve got some stories). I’m so thankful, especially to our friends, family, and customers who believed in us every step of the way!
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have a great week.
- Sabena
I’m obsessed with Jellycat 😍
Thank you, Sabena! Love your articles. Really expands my knowledge base.