The shaving brand recently posted a handful of jobs for a new DTC brand that it is incubating as part of Harry's Labs, the innovation group in Harry's tasked with identifying other categories to disrupt. According to three job postings on Harry's website, the company is hiring for a new start-up called "NewCo."
For the last decade, Lululemon has been quietly tinkering with a luxury streetwear label called Lab. The $3.8 billion sportswear giant first piloted the concept in 2009, opening a store in Vancouver. Then, over the last three years, it opened two more Lab stores in New York. Until now, these were the only places to catch a peek at the project and buy a few limited-edition pieces. But today, Lab hits prime time.
Price conscious Chinese consumers living in far-flung cities have made Pinduoduo China’s hottest ecommerce player. Its 366 million MAU trail only Alibaba, outranking better-known rivals such as JD.com. Last month, Pinduoduo reported that second-quarter revenue had more than doubled from a year earlier. Its $40 billion market value exceeds eBay’s and places it among China’s five most valuable internet companies.
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The Resale industry, and in particular Fashion resale, has been making headlines for several reasons. Millennials have become more environmentally conscious and frugal in their spends, opting to buy only from those brands that reflect these values. This shift in behavior has driven brands to become more accountable and as a result, adopt or invest in resale as a channel.
A report by used apparel online store ThredUp estimates that the resale industry is worth $20 billion as of 2018 – of which Fashion takes up 50% of the pie (or, $10 billion) – and is expected to double over the next 5 years, ultimately outpacing Fast Fashion.