Emily Coleman

The retail landscape is in constant flux, and Tapestry—home to iconic brands like Coach, Kate Spade New York, and Stuart Weitzman—is at the forefront of its evolution. When Noam Paransky stepped into the role of Chief Digital Officer in 2019, the industry was on the brink of a seismic shift. The pandemic accelerated this change, prompting his expanded role as Chief Omni and Innovation Officer to mirror the interconnected world consumers now inhabit. Today’s shoppers seamlessly blend online and offline experiences. For them, it’s a single, continuous journey. Tapestry has grasped that the digital realm, especially social media and influencer partnerships, is where most brand interactions happen. Yet, the allure of luxury items like handbags continues to draw customers into physical stores, highlighting the essential interplay between digital and brick-and-mortar. At the heart of Tapestry's strategy is the AI-powered "Tell Rexy" system, a brilliant tool that harnesses the knowledge of sales associates. By transforming their real-time feedback from spoken words into actionable insights, the system offers a clear view of the sales floor. This intelligence is then shared with leadership, ensuring decisions are firmly rooted in frontline experiences. Moreover, "Tell Rexy" functions like a specialized ChatGPT, providing in-depth answers tailored to Tapestry’s specific data and needs. With luxury sales facing headwinds, digital innovation presents a golden opportunity to reignite consumer passion. The key lies in crafting emotional connections, delivering exceptional products, and creating seamless journeys across all touchpoints. Tapestry's approach—marrying data-driven insights with the artistry of luxury—showcases the power of truly understanding and responding to customer desires. In a marketplace with ever-rising expectations, innovation is the lifeblood of success. How is your business leveraging technology to meet the evolving demands of your customers? Let us know in the comments. https://lnkd.in/dbvHdxvw #DigitalInnovation #OmniChannel #LuxuryRetail #CustomerExperience #AIinRetail #BrandStrategy #RetailTech #Tapestry #B2B #DigitalTransformation #BuyerEnablement

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One day after EssilorLuxottica announced its deal to acquire Supreme from VF Corporation, Meta, Facebook's owner, is in talks to acquire a stake of about 5% in the eyewear company. Based on recent market value, a roughly 5% stake could be valued at around $5 billion, a relatively small for Meta, given its market value of around $1.2 trillion. EssilorLuxottica makes Meta's Ray Ban smart glasses and sales of the glasses have exceeded expectations. The devices, an important part of Meta’s hardware strategy, allow users to take photos and listen to music with the frames of their glasses, among other features. Maintaining ties with Luxottica is crucial for the success of smart glasses devices and the company’s ambitions to build the so-called metaverse, which is a term used to describe people interacting in a 3-D version of the internet simultaneously. A third generation of Ray-Ban Meta glasses, expected to include a small screen display, is expected to be ready for consumers in time for the 2025 holiday season. The allure of Luxottica’s Ray-Ban brand is important to the success of a tech device that users are expected to wear on their faces. Luxottica’s ownership of LensCrafters, the prescription-eyewear retailer, also plays a key role in selling the Ray-Ban Meta to users who require prescription lenses. The two companies began working together several years ago for the release of the first generation Ray-Ban Stories smart glasses, which went on sale in 2021. The initial device struggled to catch on with consumers, and among the glasses that were sold, only 10% of the Ray-Ban Stories were actively used by their purchasers. The second-generation Ray-Ban Meta glasses went on sale in September and have done significantly better than their predecessors. The Ray-Ban Meta glasses operate more quickly and have better cameras than their predecessor. The Ray-Ban Meta also includes nascent generative #AI technology that allows users to ask the device for information about the things in front of them, such as the breed of a cat. The Ray-Ban Meta glasses have proven popular for users who want to shoot hands-free videos of their children playing and first-person videos of themselves while going on roller coasters or riding bikes. Meta hasn’t said how well the Ray-Ban Meta glasses have sold, but CEO Mark Zuckerberg said in April that the device was doing well and that a market for that type of device was developing sooner than he would have expected. Meta sells its own devices to employees at a discount, and offers the Ray-Ban Meta glasses at a 15% discount with a limit of 3 pairs per employee. The new glasses have proven so popular internally that some employees have tried to get extra pairs from their colleagues after hitting the 3-pair limit. #strategy #technology #smartdevice https://lnkd.in/ePwG-bSc?

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Simeon Siegel, CFA speaks to WWD about retail’s circle of life currently being re-learned “as ‘DTC or die’ fades from conversation and brands internalize that the right wholesale partners can be powerful partners.” “All too often in retail, the quality of sale erodes long before the actual sale. Companies chase revenues that are bad for their business that will cost them in the future. The problem is a dollar today looks very attractive, even if it costs two tomorrow. Retail is a cycle of overstretching on revenues, giving it back and trying to reset and regrow. http://spr.ly/60485iOQn

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The topic of innovation is top of mind in the performance running shoe market – especially if you ask Nike, which has been widely criticized for having a lackluster product pipeline by analysts and the Street in recent months. But for Deckers chief executive officer Dave Powers, this isn’t an issue for its star running brand Hoka. Indeed, on the product front, Hoka is driving growth and consumer acquisition through innovative updates and new introductions across a diverse assortment of footwear. Footwear News Deckers Brands HOKA Nike Dave Powers #running #hoka #runningshoe #earnings #sneakers #nike #marathon

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📈 Q3 2024 Beauty Deal Flow Analysis 📈 The latest report from BeautyMatter and John Cafarelli underscores the dynamic nature of Q3 deal flow in the beauty and wellness sector, revealing a blend of opportunities and challenges that are shaping the market landscape: Strong Deal Activity Despite Headwinds – Q3 saw a 30% increase in deal volume over Q2, with skincare and wellness brands leading, accounting for over 40% of transactions. The premium skincare and clean beauty categories continue to see strong valuations as consumer demand for quality, effective self-care remains resilient. Retail Strength Amid Brand Failures – While major retailers reported strong beauty segment performance (notably in haircare, and fragrance), the competitive market has led to brand failures, particularly among emerging brands struggling to differentiate. This underscores the need for clear value propositions in today’s crowded marketplace. Public Market Performance Under Pressure – Despite robust private deal activity, beauty stocks have faced challenges, with key players seeing volatile stock performance in Q3. This market reality highlights a divide: while PE growth investor interest remains strong, public market reception reflects cautious investor sentiment. Innovation and Sustainability as Key Growth Drivers – Nearly 25% of Q3 deals involved brands focused on sustainability or clean beauty, highlighting investor preference for brands that align with consumer values around eco-consciousness and innovation. At True Beauty Ventures, we remain committed to deploying capital thoughtfully in support of beauty brands that redefine the industry and meet consumer needs in new, compelling ways. Thank you to Beauty Matter for this comprehensive look at beauty deal flow! Cristina Nuñez #beautyinvesting https://lnkd.in/eQHiK_WM

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Love this NSQ by Rachel Brown in Beauty Independent. While one size never fits all, there is an emerging trend with more nascent brands looking to bring in executive teams and a founder empowering the team to run the day-to-day while the founder exploits their superpower. At True Beauty Ventures, we are firm believers in identifying and enhancing a founder’s superpowers. It is one of the first things we try to assess when getting to know a brand. Part of this exercise requires understanding a founder’s strengths and weaknesses and where their strengths can most positively impact the brand and business while aligning with their interests and passions. In the article, Cristina Nuñez, co-founder and partner at True Beauty Ventures, emphasizes that appointing C-suite executives early can greatly benefit emerging beauty brands. She highlights that early leadership helps to establish a clear strategic direction, operational efficiency, and strong investor relations. Nunez notes that experienced executives can drive growth and navigate the complexities of the beauty industry effectively, which is crucial for startups aiming for long-term success and market differentiation.

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Saks Global and the Authentic Brands Group are forming a joint venture to grow luxury brands, WWD has learned. The new venture, called Authentic Luxury Group, will initially focus on Authentic Brands-owned luxury and accessible luxury names including Barneys New York, Judith Leiber Couture, Herve Leger by Max Azria and Vince. The principals of the Authentic Luxury Group touted several ambitious plans and aspirations, such as rolling out Barneys New York retail locations or in-store shops, adding categories to existing fashion brands in the Authentic Brands portfolio and widening their distribution in the U.S. and abroad, and purchasing brands. Essentially, the new luxury group plans to serve as an incubator for brand growth through strategic licensing agreements and distribution channels across fashion, retail, digital, hospitality, real estate, art and travel, according to the joint venture. Read more here : https://lnkd.in/exupXVZ6

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AI in Retail: Bridging the Gap Between Ambition & Readiness for Generative AI I recently spoke with Michelle Pacynski, Ulta Beauty & Mike Dupuis, SPARC Group LLC about this topic. Before diving in, I find it helpful to ground the conversation in recent data: 1. According to a recent Forbes estimate, the AI market size is expected to reach $407 billion by 2027. 2. A global Accenture study (July) highlights that: - Companies with strong digital capabilities (data, cloud, security, etc.) are reinventing 2x as many functions with AI & are expected to drive 2x the value creation. - 50% of executives believe they can scale generative AI across their enterprise within 6-12 months, but only 13% are confident they have the right data strategies & digital capabilities to fully leverage GenAI. Why the gap? These insights set the stage for a deeper conversation. Here are some key themes we explored: 1. AI integration frameworks they've adopted: - Assist, Augment, Automate – This framework has helped categorize the 15-20 AI pilots running at any given time. It has especially reduced the pressure to automate everything right away, allowing teams to focus on assistive & augmentative use cases first. 2. Real-world AI implementation examples that required process changes & KPI definition: - Leverage GenAI from your SMS partner to create new audiences & test custom messaging. Process changes included: new workflows for both internal & external teams. KPIs: # of new customers acquired & conversion rates. - Launch a GenAI conversational experience during peak sales to manage case loads, while ensuring real humans are available for more complex queries. Process changes included: customer query routing & escalation procedures, with KPIs focused on # of cases resolved to satisfaction, incremental revenue from case resolutions etc. 3. Keeping up with the evolving world of AI: a) Follow key professors like Ethan Mollick & Stefano Puntoni b) Stay close to the VC community to learn about emerging applications & how people are thinking about the future c) Access to product engineers & innovation through involvement on Boards (e.g., Cordial) d) Attend key tech events like CES and SXSW. 4. How AI can transform retail, from customer experience to back-end operations: - Use weather data to inform inventory buying & planning, ensuring customers get the products they want in the channel they prefer. - The retailer that best uses GenAI applications to develop personalized & on-brand communication with customer segments will create the most value. c) Empower consumers to virtually try on products & learn more about them, both online & in-store. Finally, some questions to consider: - I wish consumers knew AI… - I wish regulations did… - I hope someone develops… There’s no doubt that AI is omnipresent, but achieving meaningful impact requires strong digital strategies, partnerships, and a sharp focus on data governance. #AI #Innovation #Transformation #Leadership

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The Path to Scaling Indie Beauty Brands: Retail Distribution Matters The beauty landscape continues to evolve, and the latest insights from WWD highlight the critical role of retail distribution in scaling indie beauty brands. Key takeaways include: * The Power of Multi-Channel Strategies: Retail giants like SEPHORA, Ulta Beauty, and Target remain key players, offering indie brands access to diverse audiences and credibility that drives growth. * The Rise of E-Commerce: Platforms like TikTok Shop and Amazon are reshaping how beauty brands engage with consumers, offering direct paths to purchase and amplifying discoverability. * Gen Z’s Influence: With their digital-first shopping habits and preference for value-driven brands, Gen Z is shaping how indie beauty brands develop their product offerings and retail strategies. When it comes to winning Gen Z, brands leveraging TikTok’s viral potential and seamlessly integrating with platforms like TikTok Shop are gaining significant ground. Yet, Ulta and Sephora continue to dominate in terms of prestige retail experiences that resonate with Gen Z’s desire for personalization and inclusivity. Retail partnerships are pivotal not just for visibility but for creating trust and accessibility—cornerstones of long-term success in today’s competitive market. Cristina Nuñez True Beauty Ventures #beautyinvesting https://lnkd.in/eQuiGj9B

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"Generalizing is a wasted effort and it's what gets retailers in trouble with excess inventory to irrelevant product assortments." Adore this commentary from the inimitable Liza Amlani. Highly recommend it as a read. Generalization is a symptom from our over-stretch to efficiency. We are biologically attracted to efficiency as it reduces effort which burns (what were once precious) calories. We therefore seek out every way we can improve efficiency in how we make stuff, how we think, and how we do things. It has a true cost though, which is articulated beautifully by Liza. Customers aren't formed in factories, and their behaviors and preferences change all the time. Even what they say are their preferences don't always align to their actions. It's an old school way of thinking and in a world of this much data down to individual level, we can do better.

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Ulta Beauty's recent Q1 earnings report highlights a significant shift in the beauty retail landscape, suggesting that the industry may be entering a period of moderation following years of explosive growth. While Ulta saw a modest 3.5% increase in net sales and a 1.6% rise in comparable store sales, these figures represent a slowdown compared to previous quarters. CEO Dave Kimbell attributed this deceleration to intensified competition and changing consumer preferences. Despite new brands and strong engagement with luxury products, Ulta experienced mid-single-digit declines in makeup sales, a sign that last year's growth surge is tapering off. This shift is not unique to Ulta; the broader beauty sector is grappling with similar challenges, as indicated by rising competition from online platforms like Amazon and successful in-store collaborations such as Sephora within Kohl's. Do the trends Ulta reference point to a potential industry-wide slowdown as inflation and economic pressures mount, impacting consumer spending habits even in the resilient beauty category? The phenomenon known as the "lipstick effect"—where consumers continue to purchase small luxuries during economic downturns—appears to be losing some of its protective power. Ulta's strategic adjustments, including lowering annual sales guidance and planning new brand collaborations, aim to regain momentum. However, these measures reflect a broader recalibration within the beauty industry, signaling that even this previously robust sector is not immune to the evolving economic landscape and competitive dynamics. #BeautyTrends #UltaBeauty #CosmeticsIndustry #MakeupSales #EconomicImpact #BeautyMarket #ConsumerTrends #RetailGrowth #InflationImpact #LipstickEffect

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Insightful read in BeautyMatter on scaling brands to the $100M mark! This article highlights key strategies that align closely with True Beauty Ventures’ growth philosophy, providing a roadmap for our brands: * Power of Retailer Exclusivity: Strategic exclusivity with retail partners such as SEPHORA builds brand credibility and fosters deep consumer loyalty, transforming channels into powerful drivers of brand identity. * Productivity in Distribution and Assortment: Focused, curated distribution and product assortment meet demand without diluting brand impact. It’s about strategic depth over breadth to drive resonance with consumers. 🔑 Additional Key Takeaways: * Founders Should Stay Close to the Brand: Staying engaged with brand messaging and decisions ensures authenticity and keeps the brand voice distinct. * Meaningful Brand Stories Matter: Clear, authentic storytelling is critical for consumers, building emotional connections that fuel long-term growth. * Solid Operations Are Essential: A strong operational backbone is critical to scale, with each aspect of the supply chain reinforcing brand standards and experience. These pillars serve as a guiding framework for building sustainable, impact-driven growth. Excited to support our portfolio on this path to scaling thoughtfully! Cristina Nuñez Kelly Kovack Carla Seipp #beautyinvesting Read the article here: https://lnkd.in/eh-HHDvV

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Blake Kotenbrink, SVP, Group Director Business Leadership, shares why Willy Chavarria, AGBOBLY , Sprayground, and Ganni A/S are “delivering exactly what the fashion world needs” in this fashion spotlight feature by The Drum. Check it out 🛒🛍️✨ #FashionMarketing #MarketingTrends #FashionTrends

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#HotTake: Retail stores aren’t a shortcut to success. Retail offers bigger POs, visibility, and cash flow Yet, it doesn’t ensure brand sustainability Case in point: JLo Beauty Despite celeb status and prime placement at Sephora, She faced challenges resulting in a US exit Retail alone doesn’t secure loyalty or repeat sales Placement isn’t guaranteed forever For lasting success, think beyond the retail PO Some markers of a sustainable brand include: Authenticity, community, differentiated formulas, and true fans Building a lasting brand legacy requires more than a retail presence – 👋🏾 Hi, I’m Monique, a former retail buyer turned beauty industry advisor who helps emerging brands ready to scale at big retail. If you are ready to scale and invest, book a discovery call, and let’s see if we can work together.

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