Welcome to The Week in Direct-to-Consumer, a weekly roundup for marketers from Quad Insights that sums up the latest news in the DTC space.
Skechers sees strong DTC sales growth in third quarter
Global footwear company Skechers reported $2.02 billion in sales for the third quarter ended Sept. 30, with DTC sales up $163.6 million, or 23.8% year-over-year. “As we continue to focus on growing our international business, enhancing our Direct-to-Consumer presence and expanding our product offering, we remain confident in the strength of our brand and executing Skechers’ long-term growth strategy,” Skechers Chief Operating Officer David Weinberg said in a statement.
As part of that strategy, Skechers has launched a series of partnerships with celebrities, including Snoop Dogg and Martha Stewart, and has teamed up with NBA stars Julius Randle and Terance Mann to support its entry into the basketball shoe category, as we noted in an earlier installment of The Week in Consumer Packaged Goods.
• “Skechers: Q3 Earnings Snapshot” (The Washington Post)
Skims named official underwear partner of NBA, WNBA and USA Basketball
Kim Kardashian’s DTC shapewear brand Skims was just announced as the official underwear partner of the NBA, WNBA and USA Basketball. Founded by Kardashian in 2019, Skims has enjoyed a rapid rise — something that NBA Commissioner Adam Silver called out in the announcement of the multiyear partnership. “Skims has quickly become one of our most culturally influential brands,” Silver noted, adding that the partnership will bring consumers “unique experiences, new offerings and premium products.”
The announcement came just four days after the launch of Skims’ first menswear collection, as we noted in an earlier installment of The Week in Direct-to-Consumer.
• “Kim Kardashian’s Skims Named the Official Underwear Partner of the NBA” (Variety)
Ad Age tells the story of “emergency panties” startup Panic Panties
In a story titled, “Panic Panties wants to do for underwear what L’eggs did for pantyhose,” Ad Age’s Phoebe Bain details the journey of rising DTC women’s underwear brand Panic Panties. The idea for the company was born over a dinner conversation among friends, with eventual co-founder Alex Bernstein recounting a morning that she needed emergency panties on her way to work and finding a depressing drug store offering to be her only option. The group of former Syracuse University sorority sisters thereafter started Panic Panties, aiming to sell “individually wrapped, department store quality pre-washed ready-to-wear panties that you can grab on the go,” Co-Founder Katherine Anne Koury told Bain. Keep reading the full, fascinating story here.
Shein acquires Missguided and announces co-branded line with Forever 21
Global fast-fashion DTC brand/retailer Shein is continuing its expansion strategy, announcing on Monday its acquisition of fast-fashion brand Missguided from Frasers Group. The purchase marks Shein’s first acquisition of a British brand, Reuters’ James Davey reports, noting that Shein is buying Missguided’s IP and trademarks, while Frasers retains real estate and staff.
Shein also made recent headlines with a co-branded Forever 21 x Shein product line, announced last Friday by Forever 21 brand management company Authentic Brands Group. The sportswear, activewear and swimwear line will utilize Shein to “design, manufacture and distribute” products, according to the announcement.
• “Shein acquires British fast fashion brand Missguided as it looks to expand global reach” (CNBC)
• “Shein partners on co-branded line of Forever 21 collection” (Retail Insight Network)
• “Crocs Wants to Breathe New Life Into Old Clogs” (Sourcing Journal)
• “Q&A: Lush Expands to Ulta Online in North America” (Global Cosmetic Industry)
• “Phoebe Philo’s new fashion brand is now shoppable” (Harper’s Bazaar)
• “Lauryn Bosstick’s The Skinny Confidential Launches at Nordstrom” (Women’s Wear Daily)
• “Figs opens first brick-and-mortar store” (Retail Dive)
Thanks for reading. We’ll see you next week.
If you’d like to catch up on prior installments of this column, start by heading to last week’s recap: “The Week in Direct-to-Consumer: October 27, 2023 edition”