Brand Moves 11 - Interbrand
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
May 11 2020
Brand Moves 11
Our regular round-up of how brands are navigating, adapting,
pivoting, and getting ready to re-open for business
Technology
With lockdown hitting retail but boosting online activities, gaming is gaining traction in the beauty space.
Drest, the gaming app launched last fall by former Porter editor Lucy Yeomans, has launched a beauty
partnership with makeup artist Mary Greenwell; users can now choose custom digital makeup looks for the
12 available avatars, which could already be dressed in fashion pieces. When Drest, which gives users daily
styling challenges with the latest fashion pieces, launched it partnered with 100 fashion brands. Users could
purchase items they dressed the avatars in from Farfetch. Today, the company has 160 fashion partners.
“We tackled fashion first, but knew we wanted to add beauty from the get-go,” said Yeomans. “This is the
next evolution of content. [To date,] content in the fashion world has been a very small number of people
telling you what’s in, what’s the trend, how you should style it; luxury fashion can feel like a club that only
a few people can be in. But beauty is a lot more interactive. Anyone can play in beauty, because the price
point is lower. This is a way for Drest to be more inviting and inclusive.” Until recently, many gaming apps
have leaned into fashion, but not yet beauty. MAC Cosmetics recently expanded its product partnership
with Tencent mobile game Honor of Kings from China to other global markets. According to gaming and
e-sports market research firm Newzoo, there are 2.7 billion gamers globally, and this year, the global games
market will generate revenues of more than $160 billion, a 7.3% year-on-year growth rate. Drest followed
in the footsteps of Covet, a fashion game that centers on a digital dressing model, but doesn’t offer the
opportunity to shop from the app. Lovelooks, another fashion game that launched last year, has banked on
styling too, in the form of paper dolls; users earn points and can then cash out for real products. But Yeomans
and Greenwell instead compare Drest’s experience to games like Zynga’s FarmVille. “Ten of my friends,
who I knew and respected and had good jobs, invited me to play FarmVille. I liked the strategy piece of it.
With Drest, you need a team to make a beautiful look, like pairing this makeup artist with that supermodel or
that photographer. I think luxury brands have had a hard time with platforms like Snapchat, because those
platforms don’t respect the codes of luxury, but we do,” said Yeomans. Last week, Valentino also created 20
custom men’s and women’s looks with Animal Crossing to download for free. “Animal Crossing gives players
a near-infinite level of customization. With the custom design codes, people can represent their favorite
brands in the game. This has a social aspect to it, as players interact with each other online. Right now, this is
something we expect to see more of, and we’ll see more user-generated content that features brand mentions
in video games, as well,” said Kyle Wong, CEO of visual marketing platform Pixlee.
Uber is in talks to lead a $170 million financing in scooter rental firm Lime, whose business has dropped
sharply amid the coronavirus pandemic. The potential deal would value Lime on paper at $510 million, after
the proposed cash infusion, a 79% drop from its previous valuation. Uber already owns a minority stake in
Lime, but the deal would significantly increase its share. As part of the proposed deal, Uber would transfer
to Lime the bike and scooter business that the ride-hailing company purchased in 2018, called Jump. Uber
would get the option to buy Lime between 2022 and 2024 at a specific price, and in the meantime Uber would
feature Lime scooters more prominently in the Uber app.
As the gaming world booms during lockdown, Singapore-based Internet company MyRepublic has created
an esports programme to engage gamers. The programme, called Achievement Unlocked, is tied to games
like Animal Crossing: New Horizons, Monster Hunter World Iceborne, Legends of Runeterra, Final
Fantasy 7 Remake and Mobile Legends: Bang Bang. Gamers will be rewarded for unlocking various
weekly or season in-game achievements like PlayStation credits, Steam store credits, or GrabFood
credits. MyRepublic subscribers will be entitled to additional rewards. “Achievement Unlocked is our way of
celebrating the talented, passionate, and dedicated gamers in Singapore from all walks of life,” said Lawrence
Chan, managing director of MyRepublic Singapore.
/continued
website: interbrand.com
contact: hello@interbrand.comBrand Moves 11
Twitter usage spiked to 166 million daily users in the first quarter of 2020, as more people flocked to the site
to keep up with news on the coronavirus pandemic. The usage growth is the largest Twitter has ever reported
year-over-year, up from 134 million during this same quarter last year (and up from 152 million daily users
at the end of 2019). But the growth wasn’t enough to offset the sudden advertising decline caused by the
pandemic; from March 11th on, Twitter saw a 27 percent drop in year-over-year ad revenue. This led to Twitter
missing out on $20 million to $80 million that it had initially expected to bring in by the end of the month,
and the company ultimately posted its first loss since 2017. User growth is headed in the right direction, but
it seems unlikely at this point that Twitter can hit its advertising targets. Twitter now says it’s accelerating its
work on advertising products, including one that lets companies promote mobile app downloads directly
inside the Twitter feed.
Homeware brand Olivia’s has launched a consultancy service that’s now taking applicants for interior
designers to help Animal Crossing: New Horizons players perfect the look and feel of their in-game homes.
Budding and professional interior designers are being offered upwards of £40 an hour to provide this much-
needed service, and it’ll be available to players worldwide. The consultant will visit your virtual island to
discuss design ideas and desired styles, then attempt to find practical solutions in real-time. Consultants can
also supply a mock-up of different design styles for you to use in future if you ever fancy redecorating.
“At Olivia’s we love sharing our passion for luxury living and design expertise with our customers, whatever
their plans.”, said Nick Moutter, founder of Olivia’s. “So we thought why not set up a service where this advice
can be provided in a virtual world? Especially one like Animal Crossing where players take a lot of pride in
their game surroundings”.
Many people are turning to smart home devices for the first time as the coronavirus pandemic forces them
inside, according to a new set of listening trends from Pandora. The Sirius XM-owned digital audio company
tracked a surge in Pandora listeners logging in from a connected home device for the first time in the weeks
since quarantine measures started going into effect in the U.S. The company has also seen general at-home
listening – a category that encompasses smart speakers and TVs, gaming consoles and other internet-
enabled home appliances – pick up by double digits some of the time they would otherwise spend plugged
into a mobile device on a commute. In light of that shift, Pandora is rolling out a new brand campaign this
week called “Discover Your Great Indoors,” which will run across social, digital display, audio and email
channels as well as on Pandora’s own platforms. The theme of the campaign is listeners transforming rooms
of their homes with audio experiences on smart-home devices. Streaming music and podcast services
including Pandora have long been the most popular use for smart speakers such as Amazon Echo and
Google Home. The company has also noticed an adjustment period to life under quarantine similar to that
noted by other ads metrics analysts – namely a short-lived spike in news and science or health content giving
way to more escapist and entertaining topics. Fitness content is also seeing a surge in popularity.
Business solutions provider Ultimate Software, which closed a merger with Kronos Incorporated on April
1, has launched resources and features for its UltiPro platform to support its customers and their employees,
and help customers navigate changing legislation, better understand employees’ feedback and needs, and
communicate more effectively during this time of uncertainty. The list of HR and payroll-related product
enhancements and resources includes features for navigating new employer-related legislation such as the
Families First Coronavirus Response Act (FFCRA), impacting U.S. employers with 500 or fewer employees;
the Coronavirus Aid, Relief, and Economic Security (CARES) Act; and other state and federal legislation
related to COVID-19. Ultimate’s Perception survey solution now includes a new crisis check-in pulse survey,
available at no additional cost to customers. The questionnaire, developed by Ultimate’s in-house industrial-
organizational (I-O) psychologist, is to address employees’ needs during the current COVID-19 pandemic,
but leaders can also leverage the survey to support their people, boost morale, and preserve trust throughout
the organization. Employees can complete the survey from anywhere, on any device. UltiPro customers
can now use a configurable field so HR can tightly control access to those able to mark employees as
essential, to ensure only employees with a genuine need receive permission to work in the office. Kronos has
introduced an automated employee contact-tracing tool to help customer organizations and their essential
employees during the pandemic while providing new functionality to assist organizations in their planning for
reopening facilities in the future. Leveraging data science to analyze labor records and time and attendance
data, an organization can generate a report to quickly identify and communicate to employees who may
/continued
website: interbrand.com
contact: hello@interbrand.comBrand Moves 11
have come in contact with a co-worker who has tested positive or is presumed positive for COVID-19, which
can empower organizations to partner with health officials to ensure their people receive appropriate care,
treatment, and proper direction to help reduce the risk of further transmission of the virus. “In this time of
uncertainty and unexpected change, our top focus is helping our customers and employees navigate this
crisis, remain productive, and stay connected,” said Greg Swick, chief revenue officer at Ultimate. “We
remain committed to our customers and our people, and we are confident Ultimate and UltiPro will continue
to support organizations worldwide, and help them put people first—every day.” Meanwhile, the companies
have also launched numerous free resources and a network of support for customers, employees, and
the community, including Ultimate’s COVID-19 Resource Center, a site for HR and payroll professionals to
access live and on-demand webcasts, guides to effectively managing remote employees, and other useful
content to support their people when they need it most. Ultimate and Kronos also created a Kids’ Corner
– available for free to the public – that contains resources to help employees balance working from home
while caring for kids, including best practices, a calendar of no-cost live-streaming education and kid-friendly
entertainment, and activities to keep children occupied while their parents work. Ultimate and Kronos have
established an Employee Relief Fund for employees who are severely impacted by this pandemic, funding this
program with a minimum commitment of $1 million dollars, and matching any employee personal donations
to the fund dollar for dollar, up to another $500,000. Ultimate and Kronos have committed a minimum of
$250,000 towards the Center for Disaster Philanthropy’s global COVID-19 Relief Fund, and will also match
employee contributions dollar for dollar. To date, Ultimate and Kronos, in partnership with their employees,
have contributed over $400,000 to the Center for Disaster Philanthropy’s COVID-19 Relief Fund. Ultimate
employees created and funded a campaign to help feed frontline healthcare workers and first responders
throughout local communities, already delivering more than 1,000 meals to hospitals in New York, South
Florida, and Toronto. They are also sewing masks and using 3D printers to produce personal protective
equipment for healthcare workers and essential employees around the country, including those working onsite
at Ultimate and Kronos’ offices.
Apple’s now all-virtual World Wide Developers’ Conference will kick off on June 22. Apple is promising a
“completely new online experience,” much of which looks likely to be happening inside the Apple Developer
app itself; the only other element so far publicised is a young developers’ competition.
Travel & Hospitality
Restaurant franchise operator Yum China is betting that Chinese consumers will still choose to dine-in in
the aftermath of the coronavirus crisis and plans to open more Pizza Hut/KFC outlets in China’s smaller
cities in the coming months. Joey Wat, CEO of the fast food giant, said that while the virus had driven up the
takeaway rate at its businesses, it continues to see expansion opportunities especially in fourth- and fifth-tier
cities where there are less Western dining options and fewer competitors. “If you want to have Western food,
or a cup of fresh ground coffee, where can you go? Even the hotels don’t have it. KFC is the only choice,” Wat
said. “We will continue to be committed to the China market and we are here to stay for long,” she said. Yum
China said last month that it plans to open up to 850 new stores in China this year, having already opened
179 in the first quarter. In reopening its restaurants, especially for dine-in, Yum China has made the wearing of
masks and temperature checks mandatory at its outlets. Wat said the virus had helped drive takeway demand
for Pizza Hut, which only accounted for 5% of the chain’s orders prior to the epidemic. Pizza Hut’s takeaway
rate has so far increased to 13% and “may triple to 15% within this year,” she said. “So we are seeing some
positive things come out of it.”
Airbnb bookings have risen in a number of European countries. Brian Chesky, Airbnb’s chief executive,
highlighted a surge in domestic bookings in Denmark and the Netherlands. “The recovery is better than
what we had forecast even two weeks ago. Is it a temporary recovery? Is it a permanent recovery? Nobody
knows,” Chesky said. It has not been enough to alleviate a financial crisis at lossmaking Airbnb, which said
on Tuesday it was cutting 25 per cent of its workforce; the company now expects its global 2020 revenue to
be half of the $4.8bn it took in last year. But the company said that by the end of April the number of bookings
by Danish users planning stays in their own country was at around 90 per cent of April 2019 levels, while in
the Netherlands domestic bookings were approaching 80 per cent of last year. Norway, Sweden, Switzerland
and Austria also saw some improvement in the number of domestic bookings. “People fundamentally are still
going to want to travel, but I don’t think travel will look like it used to – I think it will be permanently altered,”
said Chesky. The company is taking encouragement from Chinese Airbnb, where users made twice as many
bookings in April as in March as the country continued to reopen. About 60 per cent of bookings were to
places within 200 miles of where guests lived.
/continued
website: interbrand.com
contact: hello@interbrand.comBrand Moves 11
London restaurateurs Corbin & King, who run a small chain of highly popular, upmarket restaurants and
brasseries are launching dining vouchers, with 50% going directly to the staff to help make up for lost
earnings during the lockdown. The vouchers, which run from £50 to £2,000, will be valid for all the company’s
restaurants including The Wolseley, The Delaunay and Brasserie Zedel.
For tequila brand Patron, advertising during the run up to Cinco de Mayo usually encourages people to head
to their local bar. This year, the tequila brand is using its advertising to drum up interest in a virtual event of
sorts via Instagram Live, where 20 bartenders will teach viewers how to make different margaritas at home.
“We’ll have an arsenal of social ads on Instagram, Facebook and Twitter to promote a tune-in message,”
said Adrian Parker, VP of global marketing for Patron, adding that the company will use the same approach
for online video and TV spots. “It’s an interesting shift [for us to use] TV and some other social assets as the
trailer for an Instagram Live moment. Typically, you wouldn’t use your TV ads to direct to the second screen.”
Patrón’s effort includes partnerships with delivery companies like Drizly and local restaurants for ready-
made cocktail pickup. Leveraging Instagram as its campaign hub aligns with the brand’s past efforts on the
social platform, including integrating an ordering capability into Stories, and may allow Patrón to extend the
campaign’s reach and adapt its messaging in near real time based on consumers’ reactions.
A budget airline has announced six new short-haul routes from the UK’s Luton airport. Wizz Air, based in
Hungary, will begin with a link to Faro in Portugal. New routes to four Greek islands will follow, with maiden
flights in July, to Zakynthos, Heraklion in Crete, Corfu and Rhodes. A Marrakech service will follow in late
October. “Although travel is currently restricted by government regulations, we are planning for the easing of
restrictions as the situation improves and our customers are able to start travelling again, said Owain Jones,
managing director of Wizz Air UK.
Though electric scooter hire companies Lime and Bird are still inactive, Spin, the scooter company owned
by Ford, restarted service in some cities yesterday. It’s offering free rides to healthcare workers, cleaning
scooters more often, and hoping that now is a good moment to win some market share. “We’ve taken this
slow and steadier path towards growth,” Spin co-founder Euwyn Poon said. “I think we’re kind of poised to
be one of the leaders, if not the leader in growing this and scaling this as a true solution.” Spin hasn’t had to
do layoffs, largely because Ford’s willing to play a long game with scooters. In that way, Poon said, “we’re
very unique in this space, actually.” Spin did shut down service in 60 of its 70 markets, but Poon said that
with staff still on board and scooters in warehouses ready to go, getting things back up to speed won’t take
much time at all.
Founded in 2011 by Logan Plant, son of Led Zeppelin frontman Robert, London-based brewery Beavertown
has slowly grown to be a major player in craft beer. Heineken bought a minority stake in 2018, injecting £40m
into the company. However 85% of its sales come from pumps in now-shut pubs, bars and restaurants.
Social distancing measures were introduced just as the brewer prepared for the launch of a new low-alcohol
variety called Nanobot. Pre-lockdown, Plant had forged distribution deals with supermarket Sainsbury’s and
pub chain Fuller’s. But the brand executed a swift pivot to DTC; it had a small website that pre-Covid-19 was
doing £1000 in sales on a good month. Beavertown invested in the team and infrastructure, increasing the
number of staff working online from two to eight and changing its production plans to only manufacture cans.
Online sales slowly improved but on the day of Nanobot’s launch, the website achieved £25,000 in 24 hours.
“It’s now the second biggest turnover for business for us. It’s grown 1000% which is crazy,” said Plant.
The firm, he said, had “always dreamed of creating a really good DTC model” and he is now talking about
developing some kind of subscription model or a craft beer club to offer something different for its community
of drinkers. “There’s a lot of different things. We feel we’re more than just a beer so how can we transcend
that? Direct-to-consumer is the future.” Beavertown has already created a ‘Beavertown Session’ every
Friday at 4pm where people can tune in to different experiences, such as an art class with the brand’s creative
director, beer yoga, a live tasting with Plant or a music performance.
/continued
website: interbrand.com
contact: hello@interbrand.comBrand Moves 11
Media & Entertainment
Disney has canceled its glitzy live season showcase preview in favor of streaming-video presentations
tailored to each of the industry’s biggest media-buying shop. “These are a little more customized and
intimate,” said Rita Ferro, president of Disney Advertising Sales, “but will retain some of the hallmarks of a
bigger show, such as celebrities who will give shout-outs to agency executives in each audience. Participants
will be able to access “bonus content” they can examine on-demand after the presentation is complete.
Disney is offering a new twist on a scaled-back version of what is usually TV’s biggest week of promotion;
every May, big U.S. media companies book venues like Radio City Music Hall and Carnegie Hall in an
effort to woo billions of dollars from advertisers. However, Disney will emphasize its recent ability to pivot to
current conditions. In recent weeks, its TV networks have created big-audience specials like a “Disney Family
Singalong” sponsored by State Farm and T-Mobile, or ESPN’s “Last Dance” documentary that features
advertising support from Facebook, State Farm and Hershey’s Reese’s Peanut Butter Cups, all of which
are helping to create extra content related to the ten-part series. One State Farm ad that debuted featuring
old footage of ESPN anchor Kenny Mayne was created by ESPN’s in-house creative unit. A joint ESPN-ABC
telecast of the NFL Draft – using feeds from dozens of participants’ homes – sold out all its commercial time
to advertisers including Lowe’s, Pizza Hut, Bud Light and Verizon. “We are going to show how Disney drives
culture and how Disney drives connections,” says Ferro. “And we are going to show how we have innovated.”
Concert promoter Live Nation is giving investors a glimpse into the future with sales of tickets to see
country-rock singer Travis McCready in what will be the industry’s first socially distanced concert. Live
Nation is implementing a number of guidelines to comply with local restrictions including limiting the number
of available seats so fans remain at least six feet apart during the show. At the McCready show “fan pods”
will consist of anywhere between two and 12 seats, cutting the allowed attendance down to 20% of normal
capacity. Attendees will need to wear masks and have their temperature checked at entry points. Fog
sprayers will be used to sanitize the venue, bathrooms will be limited to ten people at a time, and soap
and paper towel dispensers will be touchless. As for the concession stand, food and beverages will be
prepackaged or have lids, Live Nation-owned Ticketmaster said.
In soccer, Germany’s Bundesliga is set to return to action on May 15 with Germany about to announce
measures easing the current lockdown restrictions in the country. The decision will be made in a
teleconference with Chancellor Angela Merkel on Wednesday. The government is expected to allow large
shops to reopen, with May 11 the target date, while top-level football will resume matches under strict
conditions; games will be played behind closed doors, with no spectators allowed, while regular testing will
be carried out on players and staff. The Hungarian professional football season, suspended because of the
coronavirus outbreak since mid-March, will re-start on May 23 with two Cup ties and a league game, the
country’s football federation, MLSZ, has said. Hungary is another of the few European countries to confirm a
start date for the resumption of the season alongside Poland (May 29) and Portugal (May 30). The MLSZ said
that “all matches (will be) subject to strict conditions to safeguard the health of all concerned” and would be
played behind closed doors. Meanwhile in the UK, Professional Footballers’ Association chief executive
Gordon Taylor has suggested halves of less than 45 minutes could be considered when football resumes.
Discussions about the Premier League’s return are ongoing but Taylor says players are “concerned” about
safety. The Premier League, though, said the idea is “not on the table.” The Premier League is hopeful of a
potential 8 June resumption.
With travel grounded, media organizations have noted that their audiences still want to read about new
experiences and destinations. These publications are seeing the same kind of traffic uptick around travel that
publishers have noticed amid Covid-19. A piece from Travel + Leisure, for example, spotlighting museums
that readers could tour virtually, racked up over 4 million visits and over 1.2 million video views in less than a
week, the publisher said. Since its initial publication, the piece has generated over 7 million visits. The New
York Times, also aware of how readers’ content preferences were changing, has also provided more service
journalism for readers. In print, the publisher renamed its travel section At Home, providing coverage around
an at-home lifestyle. Online, it tweaked its popular franchise 52 Places to Go to include all the virtual ways
readers could visit those destinations.
/continued
website: interbrand.com
contact: hello@interbrand.comBrand Moves 11
Retail & Manufacturing
Shares in jewellery maker Pandora rose on Tuesday as higher online sales and a strong return of consumers
to reopened stores in Germany encouraged investors, despite a steep decline in first-quarter operating
profit. The world’s biggest jewellery maker was forced to close almost all its 2,746 shops worldwide in the
first quarter due to the coronavirus lockdown, but said it was on track to resume growth after strong sales in
the first two months of the year. “The second quarter will not look pretty in comparison to last year, but the
more important thing is that we see economies starting to reopen and consumers coming back out again,”
Chief Executive Alexander Lacik said. He was encouraged by the quick return of shoppers in Germany, where
116 shops reopened at the end of April. “German shoppers have in eight days returned to the same level of
activity that took 10 weeks in China,” Lacik said.
Tesla’s new Model 3 was the biggest-selling car in the UK last month, aided by its online-order-and-
distanced-delivery sales strategy, as Elon Musk’s electric car company continued to deliver to customers
despite the lockdown. Some 658 Model 3s were registered – 15% of all car sales in April, with almost three-
quarters of those bought by private buyers. Jaguar’s electric I-Pace was in second place. However, UK new
car registrations fell by 97.3% in April, compared to a year ago, with just 4,321 new cars sold – down from
161,000 a year ago. The decline was the steepest since the 1940s, and is in line with similar falls across
Europe, with France 88.8% down and the Italian market falling 97.5% in April.
Chinese e-commerce giant Alibaba has launched a new luxury platform targeting younger consumers that
also aims to help high-end brands shed excess inventory built up during the global lockdown. Most labels
have been enjoying a recovery in sales in China since March, but the pandemic has disrupted supply chains
and warehouse planning across the globe, leaving fashion groups with vast amounts of unsold goods. Alibaba
said it was piloting the new Luxury Soho platform to run alongside its Tmall Luxury Pavilion flagship site.
“Brands are now sitting on a worldwide abundance of stock and are also needing to find ways to reach new
consumers,” said Christina Fontana, head of Tmall Fashion and Luxury in Europe. She said the platform
would help high-end houses reach newer consumers such as those from China’s lower-tier cities or so-called
Gen Z shoppers, young clients up to the age of 25 who are just entering the world of luxury and are expected
to become increasingly important for the sector. “With Luxury Soho, brands can now move selected products
and collections onto an online outlet store and bring them in front of a specific audience,” she said.
San Francisco-based casual wear brand American Giant, like other clothing brands such as Hanes and Fruit
of the Loom, has pivoted to producing protective facemasks – but has also reacted smartly to the new work
environment by producing a loose-fitting trouser called the WFH Pant. The $148 garment, designed “for what
working from home really means in 2020, when you’re taking care of business at your job, but also checking
off everything else on your to-do list,” apparently has “the stretch, comfort and ease of a sweatpant, with the
polish and structure of a trouser.”
UK optical chain Specsavers has been trialling virtual services. “We’ve been exploring remote alternatives
to our traditional in-person appointments,” said Giles Edmonds, clinical services director at Specsavers.
“Our stores are currently only able to offer urgent and essential care to a limited number of customers.” The
new way of doing business is to allow customers to get advice and care from optometrists and audiologists
via video and telephone link. “It removes a number of barriers, especially with health services already under
immense pressure,” says Mr Edmonds. They also have an Ask The Expert service on Facebook, while in
branches, “frontline” teams provide urgent and essential eye care.
Online UK grocery delivery service Ocado’s sales jumped 40 per cent in the second quarter of the year
thanks to surging demand for online grocery shopping. The online-only supermarket has expanded capacity
in response to a big increase in business as restaurants shut down and shoppers became more wary about
venturing to supermarkets. Sales might have increased even further, however, if Ocado had been able to scale
up more quickly. Ocado said it had increased capacity at its warehouse in London to 110,000 orders per
week from 80,000. However, it said “more normal shopping patterns have returned” in recent weeks. Ocado
isn’t the only grocer enjoying bumper sales. Consumers are making fewer trips to the shops but are spending
more when they do venture out, according to data from analysts Kantar. Grocery sales in Britain rose by 5.5
per cent year-on-year in the four weeks to 19 April, Kantar said. Ocado said it expects “the long-term shift
towards online grocery to accelerate post-crisis” but said it is unable to provide guidance for its outlook for
the rest of the year due to the uncertainty caused by the pandemic.
/continued
website: interbrand.com
contact: hello@interbrand.comBrand Moves 11
General Motors has said it is planning to resume production at the majority of its North American plants
on May 18 as it prepares operations amid the coronavirus pandemic. “Considerable planning is under way
to restart operations in North America,” the automaker said. “Based on conversations and collaboration
with unions and government officials, GM is targeting to restart the majority of manufacturing operations
on May 18 in the U.S. and Canada under extensive safety measures.” Fiat Chrysler Automobiles has also
announced plans to resume production at most U.S. plants the week of May 18.
Property
Luxury property brand Extell Development, a leader in setting the bar for luxury prices, is offering discounts
of up to 20 percent on all remaining units at its One Manhattan Square condominium. The New York
developer said the decision to slash prices was made “in response to global conditions related to COVID-19.”
To keep deals moving, brokers across the city have hastily shifted their operations online, conducting
meetings on Zoom and showing properties virtually — the closest thing buyers can get to a look inside
from the confines of lockdown. “While we have adapted to selling our residences through a virtual sales
experience, we recognize that it is also important to incentivize our buyers with this program,” Extell’s founder
and chairman, Gary Barnett, said in a statement Thursday. “Combined with low interest rates and a 20-year
tax abatement, we feel this will make for a very compelling offering.” The tower is currently advertising prices
ranging from a one-bedroom unit at $1.2 million to a three-bedroom unit at $7.8 million.
/ends
website: interbrand.com
contact: hello@interbrand.comYou can also read
