Happy (belated) Thanksgiving and happy
We at Insider Retail have been lamenting the “death” of Black Friday for years. But the pandemic could make matters worse. Social distancing rules and in-store capacity constraints are sure to hurt customer engagement for the shopping event. Many retailers have also chosen to start selling as early as October this year to counter the build-up of large crowds.
A lot more happened in retail this week after Black Friday! If you haven’t signed up already, please click here for our weekly roundup of all the essentials in the world of retail and dining, written by me, Shoshy Ciment, and my colleague Bethany Biron.
Now for the news of the week!
Daryl Parks speaks as an attorney for the Michael Brown family during a press conference in 2015.
Michael B. Thomas / Getty Images
Black McDonald’s current and former franchisees who filed two lawsuits against the fast food giant have a new lawyer on their legal team: Daryl Parks.
The civil rights attorney has a proven record of attorney in high-level racial justice cases. He previously represented the families of Trayvon Martin and Michael Brown.
“The McDonald’s case is historic and it is a privilege to represent the black men and women who have been and are treated like second-class citizens by the company,” Parks said in a statement. McDonald’s has denied allegations of racial discrimination.
Authentic Brands Group has teamed up with clothing company Mitchell & Ness for a line of historic Sports Illustrated covers.
Authentic Brands Group
Authentic Brands Group (ABG), which owns the rights to 50 brands, acquired Sports Illustrated in 2019. The company has licensed the magazine’s name and intellectual property to manufacture merchandise such as nutritional supplements, CBD creams, and apparel collaborations.
ABG told Business Insider that it is trying to balance, make traditionalist fans happy while expanding into new categories.
“Our vision is how we can turn what is arguably the best-known sports brand that means a lot to many people into a media brand of the 21st century,” said Marc Rosen, Executive Vice President of ABG’s business unit, to Business Insider in an interview. “It’s about being in many places and offering your customers many things.”
Craig F. Walker / The Boston Globe via Getty Images
Gina Drosos, the CEO of Signet Jewelers, said in an interview with Business Insider that the jewelry category has “lagged behind” in the evolution of e-commerce.
Signet – which operates Kay Jewelers, Zales, Jared, and other jewelry retailers – is moving much of its business online. It is currently in the middle of a multi-year turnaround plan called “Path to Brilliance” that includes enhancing its omnichannel capabilities.
Drosos said the company wanted to “crack the code for why it was taken [jewelry] Category so long to move into a virtual world. “
Everything else you need to know:
An Equinox gym in New York City.
Photo by Mike Coppola / Getty Images