THE WHAT? Authentic Brands has settled and agreed to dismiss its lawsuit against checkout tech firm Bolt. Both companies plan to continue the partnership offering seamless one-click checkout to ABC’s brands Forever 21 and Lucky Brand.
THE DETAILS Authentic Brands accused the tech firm of ‘utterly failing’ to deliver on its promises, allegedly costing the retailer US$150 million in sales. Instead of pursuing its claim, it has now accepted a minority stake in Bolt.
THE WHY? Jamie Salter, Founder, Chairman and CEO of ABG, comments, “ABG has always prided itself on working with best-in-class partners to build a sustainable and scalable business with a laser focus on digital innovation and ecommerce. That’s why we chose to work with Bolt to deploy its exceptional checkout technology to several of our portfolio brands. ABG looks forward to deepening its ties with Bolt by becoming shareholders under the new leadership of Chief Executive Maju Kuruvilla and we are excited to continue exploring broader opportunities with our businesses.”
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
-
Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
-
Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
-
Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
-
Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
-
Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
-
Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
-
Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
-
Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
