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Target +Techstars Retail Accelerator Welcomes Its Second Class

The Target + Techstars retail accelerator program is welcoming its second batch of startups to Target’s headquarters in Minneapolis, MN. After receiving applications from more than 3,000 retail-specific tech startups from across the globe, Target selected 10 finalists to participate in this year’s 13-week program. Deborah Weinswig, Managing Director of FGRT, was in Minneapolis for the program launch and will serve as a mentor to the accelerator participants.

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Global Retail Revolution Brings Threats as well as Opportunities

M&A chatter:
• Nordstrom announced it is exploring a “going private” transaction
(June 8, company press release)
• American Eagle Outfitters is reported to be bidding for
Abercrombie & Fitch with private equity firm Cerberus Capital
Management
(May 25, Reuters.com)
• Deckers Brands announced that it is reviewing strategic alternatives
(April 25, company press release)
• The parent company of Jimmy Choo announced that it is reviewing
strategic alternatives for the shoe brand
(April 25, Bloomberg.com)
• BJ’s Wholesale Club put itself up for sale in April
(April 14, New York Post)

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New York Fashion Tech Lab (NYFTL) Tech Runway Demo Day 2017

Fung Global Retail & Technology attended the New York Fashion Tech Lab’s (NYFTL’s) Tech Runway Demo Day 2017 in New York City on June 14. The event featured NYFTL’s fourth accelerator class of startups, which consisted of nine women-led companies. The startups’ various areas of focus include creating new ways for customers to shop, new ways for retailers to track engagement and new ways for retailers to communicate and engage with customers.

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Latest Trends and Developments in O2O Retailing

JD.com plans to open 1 million brick-and-mortar convenience
stores through franchising within five years. It invested in Yonghui
Superstores, a supermarket chain in China.
• This follows JD.com’s announcement to open 10,000 home
appliance stores across China.
• The stores will use JD.com’s data analytics and logistics system
to better target consumers and fulfil orders.
• The stores can set up virtual stores on JD.com.

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