This week’s Velocity This Week Live episode brought exciting updates from the world of Private Brand, Private Label, and Retailer-owned Brands. Hosted by Christopher and Laraine Durham, this live show remains a must-watch for industry insiders. If you missed it, I have a rundown of what was covered for you here.

Christopher and Laraine started the episode with an enthusiastic introduction, reminding viewers that Velocity This Week Live is their go-to source for the latest trends, news, and updates in the private brand industry. As Christopher noted, this was the second episode of the series, continuing their mission to deliver fresh insights every Wednesday at 1:00 PM EST on LinkedIn and YouTube.

Highlights:

1. Target’s Strong Q2 Performance: Christopher highlighted Target’s impressive financial results for the second quarter of 2024. The retailer’s success was attributed to strong sales growth, especially in their private brands like Good & Gather, Cat & Jack, and up & up. Target’s digital sales soared by 8.7%, with same-day services like Drive Up and Target Circle 360 seeing double-digit growth. Brian Cornell, Target’s CEO, emphasized the importance of private brands in driving the retailer’s success.
2. Top Women in Store Brands Awards Extended: Laraine announced the extension of the nomination window for the 2024 Top Women in Store Brands Awards. This prestigious event, organized by WISE and Store Brands, celebrates the contributions of women across the North American store brands industry. With nine award categories, including Lifetime Achievement and Innovation, there’s a place to recognize exceptional talent.
3. Petco’s Halloween “Bootique” Launch: Petco unveiled its Halloween “Bootique” and fall collections, featuring exclusive products from its private brands like Reddy and Youly. Christopher shared details about the array of new and returning items, from adorable pet costumes to autumn-themed toys and treats. With 90% of items priced under $15, Petco is ready to meet pet owners’ seasonal needs.
4. Marks & Spencer’s Inclusive Stoma Knickers: Laraine highlighted Marks & Spencer’s groundbreaking introduction of stoma knickers, making them the first UK High Street retailer to offer such a product. This inclusive line was developed with input from M&S colleagues and Colostomy UK to meet customers’ specific needs with stomas, demonstrating M&S’s commitment to accessibility and inclusivity.
5. CVS Pharmacy’s Mental Health Journals: CVS Pharmacy has launched a collection of journals featuring CVS Health colleagues’ designs to promote mental health awareness. Christopher explained how this initiative showcases the artists’ journeys and aligns with the growing trend of using journaling for wellness and personal growth.

Upcoming Event – Velocity Sustainability Summit: The episode also included a special mention of the 5th Annual Velocity Sustainability Summit, scheduled for October 22-23, 2024, in Phoenix, Arizona. Laraine encouraged viewers to take advantage of the early bird rate, which offers a $200 discount before September 10th. The summit promises to be a crucial event for those looking to lead in sustainable private brand practices.

Christopher and Laraine wrapped up the episode with a reminder to tune in every Wednesday at 1:00 PM EST for more updates. They encouraged viewers to like, subscribe and hit the bell icon on YouTube to stay informed. Viewers were also invited to join the conversation by commenting on the livestream.

Velocity This Week Live continues to be an essential resource for anyone involved in the private brand industry, offering expert insights and up-to-the-minute news. Be sure to catch the next episode and stay ahead in the ever-evolving world of private brands.