Today’s Top Retail News Stories
- Reheat, a new Canadian company, lets women rent out their dresses, skirts, purses and other items to make money and reduce the overall carbon impact of the fashion industry. While resale is a large market with players like thredUp, theRealReal, and others this moves from ownership towards renting like Rent the Runway. But instead of using company inventory like Rent the Runway, this utilizes the individuals’ wardrobes. Company Founder Vasiliki Belegrinis stated this would be like the “AirBnB of fashion.”
- A leading retail group, which includes members Walmart, Target, and Best Buy among others, wrote a letter to the FTC stating tech platforms create an “information bottleneck” that can alter markets and negatively impact the power of price competition. The group also stated concern around Amazon and Google controlling much of product search and having the ability to “easily affect whether and how price and product information actually reaches consumers.”
Source: On trend: Startup gives women a way to rent that perfect style from someone else’s closet | CBC
Source: Retailers are eager to lodge antitrust complaints against Amazon and Google| L.A. Times
Chris Walton View All
Chris Walton is an accomplished Senior Executive with nearly 20 years of success within the retail and retail technology industries. He is well-versed in merchandising, store operations, inventory management, product design, forecasting, e-commerce, pricing and promotions, and tech product development.
Chris was most recently a Vice President with Target, where he led the retailer’s Store of the Future project and also ran the Target’s home furnishing division for e-commerce. He previously worked for GAP, Inc., as a Distribution Analyst and Manager.
Chris holds a BA in Economics and History from Stanford University, and a MBA from Harvard Business School.
He likes to dress as Darth Vader for Halloween, and his wife also frequently asks him to ask Alexa, "to turn off the music."
