The Weekly Closeout: Authentic hires an Amazon vet, Dôen secures funding
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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 DutyFreeZone.com expanding beyond the airport to Shakira's hair care brand raising $12 million in capital, here's our closeout for the week.
Get duty free without the hassle of going to the airport
The duty-free airport experience is now online. DutyFreeZone.com launched its online marketplace this week to offer tax-free pricing on products from a number of categories including alcoholic beverages, fragrances, beauty, cosmetics and electronics.
The company, which was founded in 1998, operates from 'strategic duty-free zones' across North America and Latin America.
"We're transforming the way duty-free works," founder Reynald Vito Grattagliano said in a statement. "For decades, access to duty-free products was limited to airports and cruise terminals. Now, with our marketplace, anyone — from Dubai to Paris to Los Angeles — can shop duty-free, or become a global seller."
Authentic goes to the market
In other marketplace news, Authentic Brands Group recently appointed Tim Derner to the role of global head of marketplaces. Derner comes to Authentic from Amazon, where he most recently was the director of Amazon fashion and luxury stores.
In the position, Derner will oversee the expansion of Authentic's global distribution strategy with a focus on strengthening partnerships and accelerating brand reach, among other tasks.
'Marketplaces are a critical engine for long-term brand growth,' President Matt Maddox said in a statement. 'Tim's track record of building high-performing teams and scaling digital marketplaces worldwide makes him the ideal leader to deepen our capabilities in this space. His appointment marks a significant step in making this channel a cornerstone of our global distribution strategy.'
Dôen raises Series A funding round
California-based lifestyle brand Dôen this week closed on a Series A funding round led by growth equity firm Silas Capital, per a company press release. The almost 10-year-old brand did not disclose how much it raised, but said prior to this it had only brought in about $1 million in outside capital.
The funding is aimed at helping Dôen expand its physical footprint in key markets, build out its infrastructure and invest in marketing. The company, which launched as a digitally native fashion brand, has expanded its offerings over the years to include outerwear, denim, dresses, loungewear and a home assortment, among other products.
"This has been a long time in the making, as our top priority was finding a partner who aligns with our values and long-term vision for growing Dôen," Margaret Kleveland, co-founder and CEO of Dôen, said in a statement. "Silas Capital has a strong track record of supporting authentic, organic community building and helping their portfolio companies scale in thoughtful, sustainable ways."
Dôen operates seven of its own stores and sells through wholesale partners including Net-a-Porter, Saks Fifth Avenue, Nordstrom, Harrods and over 150 specialty stores globally. The retailer has built a $100 million revenue business and said retail sales at its stores have grown 80% year over year, in aggregate. E-commerce is up 40% year over year and wholesale bookings have grown 110% year to date, per the company.
Your popsicle mouth can now last longer
The Popsicle brand is entering lip care with a line of Popsicle Pouts lip oils. Available in orange, cherry and grape, the shades are inspired by Popsicle ice pops original flavors.
The lip oils are limited edition and sell for $5.64 at PopsiclePouts.com, about the same price as a box of Popsicle ice pops. A limited number of lip oils drop daily. Each purchase comes with a coupon for a free box of ice pops.
Squishmallows eyes the sleep category
Squishmallows is releasing its first SquishPillow exclusively at Target starting on Sunday.
The standard SquishPillow sells for $29.99 and the king size retails for $39.99. Products have two firmness levels, with firm available at launch and medium releasing in the fall.
'We're always listening to our fans, and when we learned so many were already using their Squishmallows as pillows, we knew we had to dream up and disrupt the home goods category by developing a branded pillow unlike any other,' Laura Zebersky, president and chief commercial officer at parent company Jazwares, said in a statement.
Squishmallows is also selling six themed pillowcases starting at $9.99. The brand will launch additional styles later in the year.
$12M
About a week after Shakira launched her hair care brand Isima, the company announced it secured over $12 million in capital investments from Stelac Capital Partners, Leonardo Maria Del Vecchio Capital, venture capital firm Northstar.vc and talent agency WME.
"We chose to support Isima because it brings together scientific innovation and a deep respect for individual identity," Leonardo Maria Del Vecchio, president of LMDV Capital, said in a statement. "In an industry long dominated by one-size-fits-all solutions, Isima offers something different — products designed to embrace diversity and meet the unique needs of each person."
The brand will launch exclusively at Ulta Beauty with a range of eight products, including shampoos, conditioners and a hair mask.
2.6%
That's how much Perfect Moment's fourth-quarter revenue is expected to grow by, reaching $5 million, according to preliminary financial results released Tuesday.
For the full year, revenue is expected to fall 12%, but excluding a Hugo Boss collaboration that ended in fiscal 2024, the company said full-year revenue increased 1%. The company attributed lower revenue to Matches Fashion, its largest wholesale partner, filing for bankruptcy. Perfect Moment expects to report a net loss of $16 million for the year.
Perfect Moment Chairman Max Gottschalk called the year 'one of consolidation and transformation,' noting that in addition to addressing inefficiencies in its operations, the company hired executives from Canada Goose, LVMH and Timberland.
Fluctuating U.S. immigration policy stokes uncertainty for garment workers, apparel factories
As U.S. Immigration and Customs Enforcement agents step up workplace raids and deportation efforts, the modest U.S. apparel manufacturing sector, always dependent on immigrants, is under pressure. Detentions of garment workers and others in Los Angeles, home to most of the country's textile factories, have sparked protests for weeks.
Over the weekend, the New York Times reported that, following lobbying by U.S. Agriculture Secretary Brooke Rollins, President Trump decided to ease up on immigrants working in food production and hospitality. More recent reporting from the newspaper indicates that Trump has changed his mind again, alarming some businesses. Neither the White House nor ICE has responded to Retail Dive's request for comment on where the policies stand and how they might affect garment workers.
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