A growing group of direct-to-consumer brands -- including Warby Parker, Figs and Hims -- have gone public. Their recent earnings reports present a look into previously unseen business fundamentals.
A recent Modern Retail and Glossy survey asked brands and retailers what they expected for the weeks to come, and many reported overall positive outlooks. Over half of the respondents said they expect their holiday revenue to be at least slightly up from 2020's sales. Recent earnings results underpin these expectations.
In the '80s, when the sandals first hit the market, Teva was the leader in the space. Then, after a couple decades of dominance, things died down. But over the last three years the company has been focused on reemerging as a footwear leader. "In short order," said Anders Bergstrom, Teva's global general manager, "we retaken the number one position in sport sandals." Bergstrom joined the Modern Retail Podcast and spoke about how he's been handling all the curveballs thrown over the last few years.
Many retailers have been dealing with supply chain breakdowns at multiple nexus points. This is leading brands and retailers to fear they won't have enough staff to deal with these issues. New Modern Retail and Glossy research highlights some of these anxieties.
For Corkcicle, the mantra is to always focus on innovation. The company, which makes a variety of consumption-focused products like cups, travel mugs and wine coolers, has spent the last decade expanding the types of items it makes. And over the last few years, its business has really begun to ramp up. CEO Chris McDonough joined the Modern Retail Podcast and talked about how it strategizes its growth.
During the Modern Retail Summit held last month in Palm Springs, Modern Retail held an intimate working group with top retailers and brands. There, 13 decision-makers sat down and discussed some of the biggest issues hampering their businesses.
Telemedicine has taken the human world by storm, and Joe Spector thinks the next frontier is pets. Spector is the founder and CEO of Dutch, which offers telehealth services for pet owners -- connecting them with veterinarians virtually. He has some experience in this space as Spector is a co-founder of Hims. He joined the Modern Retail Podcast this week.
Bearby, which makes knitted weighted blankets, saw sales grow more around 5x in 2020. This year, things aren't slowing down. According to founder and CEO Kathrin Hamm, revenue is on track to double in 2021. "It has been quite a ride," she said on the Modern Retail Podcast.
One of the ways direct-to-consumer cookware brand Made In has grown was through its connection with chefs. That idea has been core to Made In's growth, according to co-founder and CEO Chip Malt. Malt was the most recent guest on the Modern Retail Podcast -- his interview was recorded live at the Modern Retail Summit, held in Palm Springs last week.
Card game company Exploding Kittens saw sales grow 93% in 2020 and is already 50% over that in 2021. But it also faced seemingly endless supply chain headaches. At the Modern Retail Summit, its head of production, sales and logistics discussed all the curveballs thrown its way and how the brand has completely changed its back-end strategy.
Glasshouse Fragrances launched in the U.S. last year after becoming one of the biggest candle companies in Australia. It is currently available in over 1,200 retail locations in the country, and has expanded to body washes, soaps and diffusers. Founder Nicole Eckels joined the Modern Retail Podcast and spoke about how she built the brand and her strategy surrounding the U.S. expansion.
Kids Foot Locker has big plans to be the number one shoe retailer for kids. According to Jill Feldman, the vp and general manager of Kids Foot Locker, she aims to make it a billion dollar brand. "That's not quite doubling [where it is now]," she said on the Modern Retail Podcast, "but we have had really big momentum recently.
Mike Messersmith, Oatly's president of North America, joined the Modern Retail Podcast this week and talked about the oat milk brand's growth, as well as the category as a whole. Oatly started its U.S. expansion in coffeeshops, and that helped it expand into retail; "people discover it, they talk about it and they want to buy a larger carton at the grocery store to bring home," he said.
The ten-year-old mattress brand Saatva company saw revenues almost double over the last two years, and says that demand is only increasing. According to co-founder and chief strategy officer Ricky Joshi, Saatva has been "basically profitable since day one." He joined the Modern Retail Podcast and spoke about how Saatva has been growing and expanding its product line.
The elderflower-based liqueur St-Germain has become more popular over the last little bit -- much of that is thanks to growing demand for aperitifs. But another part of that, according to Emma Fox the VP of the brand, is that St-Germain has been taking great pains to get more people to know it exists. She joined the Modern Retail Podcast this week.
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