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Inside Retail (Nov 25th, 2019)

1. LVMH has reached a deal to buy Tiffany & Co. for $16.2 billion cash. "We have immense respect and admiration for Tiffany and intend to develop this jewel with the same dedication and commitment that we have applied to each and every one of our maisons," LVMH chairman and CEO Bernard Arnault said. LVMH's other jewelry and watch brands include Bulgari and Tag Heuer. LVMH's luxury conglomerate competitors Kering and Richemont are both increasing their exposure in fine jewelry. Consulting firm Bain & Co. forecast jewelry sales will grow 7 percent this year. The Financial Times first reported the deal was close and that board members met on Sunday to approve it. Tiffany has struggled with tourists spending less and uncertainty in the face of U.S.-China relations. - CNBC

2. Elon Musk's net worth dropped $770 million after a failed Cybertruck debut caused Tesla's share price to drop 6 percent, but Tesla still received almost 150,000 orders for the electric truck. The Cybertruck debuted in a live demo where the designer hit it with a sledgehammer that didn't leave a mark. The fail happened when a steel ball shattered what were supposed to be shatterproof windows. Musk swore and then said "there's room for improvement" and "we’ll fix it in post." - FORBES

Check out Friday's Inside Auto edition for more details on the Cybertruck.

3. Although models are celebrating the end of the Victoria's Secret fashion show, not everyone is happy that the show is canceled. "Just don't watch it if you don't like it," one Twitter user pointed out. Another said, "this is political correctness run amok." Back in August when the show was first rumored to be ending, model Kate Upton called it a "snoozefest" for failing to show multiple body types. Victoria's Secret's parent company L Brands announced the show was canceled last week during an earnings call, saying it was part of a strategy to "evolve the messaging" of the company. - JEZEBEL

4. CNN Business' Julia Horowitz called Black Friday "absolutely crucial" for retailers like Macy's and Kohl's. Oliver Chen, a Cowen analyst, said Black Friday will "make or break" the season for struggling retailers. There are six fewer shopping days this holiday season. While Horowitz does not expect that to be a decisive factor, Chen expects to see more Macy's store closures if the chain has a weak Black Friday. - CNN

5. The Motley Fool predicted that Walmart will "win" Black Friday because of its strong brick-and-mortar revenues. Walmart has been running pre-Black Friday "Early Drop Deals" since before Halloween. The Motley Fool cited NRF research that found more than half of U.S. consumers began shopping earlier in November. Although Amazon Black Friday sales last year were estimated to be in the ballpark of $3.9 billion, Walmart has 22 million people visit stores on Black Friday and averages $1 billion sales on a regular day. The Motley Fool pointed out that if each of those people spent $200 in-store, that would equate to $4.4 billion sales just from the stores. - MOTLEY FOOL

6. Roger Federer has invested in On, a small Swiss running sneaker company with what the NYT called "global ambitions." Federer announced the partnership on his Instagram and called the relationship "a fun run." Federer will be the face of the brand and also consult on design. He is a 20-time Grand Slam champion. - NYT

7. The chairman and founder of Yoox spoke with the SCMP on The Modern Artisan, a new collection created by design students using Yoox's consumer data. Federico Marchetti, chairman and CEO of Yoox Net-a-Porter Group said he looks forward to merging tech with retail, but "stylists will continue to bring the human touch, which is essential." Yoox merged with luxury eComm site Net-a-Porter in 2015, and was acquired by Swiss luxury conglomerate Richemont last year. It has 3.5 million active customers in 180 countries. - SCMP

8. Edible Arrangements added a new CBD line to its fruit assortments. The Incredible Edibles line has chocolate-dipped fruit that is infused with CBD. Edible Arrangements founder and CEO said in a statement that the new product line "is high-quality, traceable CBD, with a focus on 'Health, Not High.'" The company is piloting it in 25 locations in Texas and plans to roll it out to 200 stores across the country by the end of the year. - DELISH

9. Shake Shack is offering a Black Friday promotion that includes a chance to win free meals for a year. The chain is offering everyone who orders through the mobile app or Grubhub a free scratch-off ticket. According to a press email, every ticket will have a prize that could include free fries or free delivery. The grand prize is a $2,500 gift card which equates to free Shake Shack for a year. The "Black Fryday" promotion runs from Nov. 27 through Dec. 1. - ELITE DAILY

10. Prada and Adidas unveiled their Superstar sneaker collaboration. The shoe is full-grain leather and has the Adidas rubber shelltop. It is made in Italy by Prada. The capsule includes a co-branded Adidas bowling bag, too. Only 700 pieces were made for the collection and each piece is numbered. Superstar goes on sale Dec. 4 in select Prada stores as well as on each company's website. Pricing has not been released. - VOGUE

Written and curated by Cassidy Mantor, a brand storyteller with a decade of retail marketing experience including in-house at Nike and Oakley. Occasionally she writes a “think piece” about fashion law for the American Bar Association. She is happy to be based in coastal Virginia except when there’s a hurricane. She can be found on LinkedIn.

This newsletter was edited by Inside senior editor Bobby Cherry, a Pittsburgh-based journalist who's always on social media. Reach him at bobby@inside.com.

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