Diamonds with Special Purpose. Blue Nile is going public again in a special purpose acquisition company deal, and is valued at $873 million.
Covid Travel Restrictions Lifted. The CDC has lifted the negative Covid-19 test requirement for travelers entering the United States.
Infringement Allegations. Adidas and Nike are going toe to toe in a legal battle filed by Adidas. The lawsuit claims patent infringement on nine counts by Nike.
Ups, Downs, Acquisitions, and Investments. We’ve mentioned that fashion is majorly shifting away from the Covid frumps, and Rent the Runway’s Q1 numbers definitely showed that, reporting double last year’s revenue. Meanwhile, Revlon is preparing to file Chapter 11 bankruptcy. German fashion e-tailer, Zalando has purchased Highsnobiety. And Recover, a recycled cotton company, has raised $100 million in funding.
50 Ways to Leave Your Thirst Quenched. The first day of Summer is nigh, and companies are going ham on new beverage releases. One is even going chicken. Pepsi Japan has released a palate cleansing drink that enhances the flavor of fried chicken. MTN DEW is bringing back Baja Blast and including two new flavors, Baja Mango Gem and Baja Gold, which has a pineapple essence. And Coca-Cola has partnered up with Brown-Forman Distillery to make a Jack-and-Coke in a can.
Move over, Yelp. Doordash added a few new features to its app, one of which is the ability to rate and review local restaurants.
Artificial Sentience. A Google engineer believes the company’s artificial intelligence is coming to life. In response, the company has placed him on paid leave. In the words of our own Brian Lange, it's “the media sensationalization of an overly optimistic nerdy sci-fi true believer. There are more than one of these employed at big tech, so this story is likely to have a longer thread as others ‘step forward.’”
The Next Hot DTC Product is Cold.Frozen, actually. At least that’s what several direct-to-consumer food brands are focusing on, by trying to reverse the narrative that frozen meals are unhealthy.