Weekly Roundup: Build-a-Bear ventures into Roblox, and ThredUp forms a partnership with Torrid
In the world of business, there's always something new and exciting happening. Here's a roundup of some recent developments:
The European Union has reached an antitrust settlement with Amazon, avoiding a potential fine of up to 10% of its global revenue. The details of the agreement are still under wraps, but it's clear that this is a significant move for the tech giant and the EU.
In the realm of online gaming, Roblox continues to innovate. Users can now earn digital Bear Bucks and strive for virtual bear tycoon status in the Roblox news. Additionally, the platform is set to launch a new news called Build-A-Bear Tycoon, where players can fully immerse themselves in the world of the company, collecting bears, building a virtual workshop, and attending virtual heart ceremonies.
Jim Beam, the renowned whiskey brand, has ventured into an unusual product line - a pair of pajamas that imitates the feeling of a hug. This unique offering is part of the brand's ongoing efforts to connect with consumers in new and meaningful ways.
The holiday shopping season is expected to be a busy one, with Build-A-Bear anticipating 158 million shoppers on Super Saturday, according to the National Retail Federation. This makes it the most anticipated shopping day since the group began tracking this stat in 2016.
Build-A-Bear Entertainment is also set to release an original Christmas film titled "Glisten and the Merry Mission". The animated movie features celebrities Billy Ray Cyrus, Freddie Prinze Jr., and Chevy Chase, and tells the story of a couple of elves named after food who search for an enchanted "snow deer".
Serta Simmons, one of the largest bedding manufacturers in North America, is reportedly considering a bankruptcy filing. The company has been in discussions with its creditors regarding a potential restructuring plan, which could include giving control to some first-lien lenders. If the bankruptcy filing does occur, it could happen as soon as next month.
Sephora Americas has announced that Deborah Yeh, the company's chief marketing officer, will drop the CMO role from her title on Jan. 1. In her new position, she will report to Sephora's new CEO Guillaume Motte. The company is currently looking for a new chief marketing officer to fill Deborah Yeh's old spot.
Torrid, a DTC company that features apparel for women in sizes 10 through 30, has announced a resale program with ThredUp. This program allows Torrid customers in the U.S. to generate a prepaid shipping label, fill a box with apparel, shoes, and accessories from any brand, and ship it to ThredUp for free. Sellers will receive a Torrid shopping credit for items sold through the resale program.
In a move that could impact millions of sellers, the European Union antitrust settlement with Amazon requires the company to refrain from using non-public information about its marketplace sellers to sell goods, including its own private labels, and to treat all sellers equally when ranking offers via its 'buy box'. This is a significant step towards ensuring fair competition in the digital news.
As the year comes to a close, it's clear that businesses continue to innovate and adapt, offering new products, experiences, and opportunities for consumers. Whether it's a pair of hugging pajamas from Jim Beam, a virtual bear tycoon experience on Roblox, or a new Christmas film from Build-A-Bear Entertainment, there's something for everyone. Stay tuned for more updates as these stories unfold.
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