Lululemon, Crate & Barrel Latest To Combine Retail With Dining
Aug 03, 2019 05:13 AM EDT | By Staff Reporter
(Photo : GETTY IMAGES)
Adding foodservice to a retail environment is hardly new. Department stores have married retail and restaurants for well over a century, and drugstores routinely had soda fountains. Brands like Ikea have become almost as well known for their meatballs as their dressers and have contemplated having freestanding versions of their restaurants.
It now seems to be a trend that has more urgency as retailers scramble with declining traffic and a need to emphasize experience over simply selling a product.The need to create a reason to come and linger is a driver behind some of these collaborations and some brands, like Restoration Hardware and Tommy Bahama, have used restaurants as a driver of brand transformation.
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Campbell Soup has announced it will sell its Danish baked snacks manufacturer Kelsen Group to CTH Invest, a Belgian holding company affiliated with the Nutella maker Ferrero, for $300 million. The transaction is subject to customary purchase price adjustments, and it is expected to be completed in the first quarter of fiscal 2020.
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