Hey!

Welcome back to another DTC edition. We have exciting news to share, so let’s get right into it…drum rolls

DTC performance reports are out, and it’s raining gold!

A 201% income quarterly growth for Meta: Meta’s metaverse vision might be murky, but the social media giant has posted a solid 25% YoY revenue increase and a 201% jump in net income YoY in its Quarterly reports.

Fun Fact: Meta added 2 million users in North America and 2.11 billion users worldwide, marking a 6% YoY increase. These are interesting numbers, given Facebook’s near saturation in markets. 

Skechers’ salt and pepper results: Footwear giant Skechers saw a 4.4% YoY increase in revenue growth in its Q4, but the revenue spurt wasn’t enough to drive its wholesale business, which saw an 8% decline in quarterly results. 

Amazon’s Ad business grows further: Amazon’s advertising business surged 27% YoY to $14.7 billion in the Q4 of 2023. Amazon also begins Prime Video ads. Its overall net sales jumped by 14% to $170 billion in Q4.

Starbucks is raking in the money with its loyalty memberships: Starbucks Rewards members have spent the most in Q1 of 2024. Users used the app’s mobile order and pay capabilities for over 30% of all purchases. The Rewards loyalty program membership has reached 34.3 million active members, 13% yoy for Q4 of 2023. 

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But not everywhere is raining gold..

Here’s what happening at Nike-town! 

Nike has ran off-course: The sportswear giant is witnessing its worst slump in a decade. The reasons? costly restructurings, uninspiring marketing, and stagnant innovation.

Here’s the perfect meme for it…

M&As and all the handshakes in the town

  • NFL partners with Gamefam: NFL x Gamefam collab for a gaming event is timed to the Super Bowl. The event will launch across various Roblox spaces. The event activation will center around Gamefam’s newly launched SpongeBob simulator from February 2 to February 19.

  • Adidas Join hands with Allbirds: Adidas and Allbirds are collaborating on a limited edition sneaker - a 2.94 kg CO2e sneaker. The multi-color version, available in men's and women’s sizing for $120, is already selling out. 

  • Is Reddit’s IPO Coming in March?: Reports state March as the IPO launch date, but there’s a catch. The IPO may no longer be valued at $15 billion but at just $5 billion. The original $15 billion valuation is too far-fetched a number concerning Reddit has just $800 million in annual ad revenue. 

Fun Fact: X has 3x Reddit users and is valued at $19 billion. Snapchat has 5x Reddit users and is valued at $27 billion. 

Snack-sized DTC bytes:

  • H&M sees a sudden change in leadership: Daniel Erver has taken over as the new CEO of H&M after Helena Helmersson resigned unexpectedly. H&M’s performance vis-a-vis its rivals Shein and Inditex hasn’t been great. In December, H&M’s shares fell by 12%. 

  • Lululemon enters men’s footwear with casual sneaker launch Cityverse, the brand’s everyday shoe debut, launches this month and also marks the first footwear style available to men.

  • Threads is still alive and kicking: The X clone, Meta’s baby Threads, has reached a user base of 130 million. Nowhere near close to X with its 500-million-strong army, but Threads has sustained its hype and is growing steadily.

We’ll see you this Friday with a fun edition of DTC World! 👋

Until then..

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