CHECKOUT COUNTER: Ritz-Carlton gets into the yachting business
A weekly round up of the hottest international retail and consumer news.
1. Kellogg’s invests in smoothie company
Food giant Kellogg’s, through its venture capital arm eighteen94 capital, announced a US$2m investment in plant-based smoothie company Bright Greens. eighteen94 capital was launched in June 2016 to invest in companies pursuing next-generation food innovation, bolstering Kellogg’s access to cutting-edge ideas and trends.
2. Ritz-Carlton gets into the yachting business
The Ritz-Carlton Hotel Company is launching a luxury cruising yacht line. The company, part of Marriott International, will debut with three 298-passenger vessels in the fourth quarter of 2019. Itineraries will range from seven to 10 days, and yachts will stop in locations not accessible to mass market cruise ships, like Capri and Portofino in Italy and St Barts in the Caribbean.
3. Louis Vuitton in talks to open US factory
LVMH-owned brand Louis Vuitton is working to open a factory in the US as demand for luxury goods continues to rise. A Bloomberg report says LVMH chairman Bernard Arnault first floated the possibility of a factory in the Carolinas or Texas during a January visit to New York to meet with then president-elect Donald Trump.
4. Tesla has music streaming ambitions
Electric car maker Tesla is considering entering the music streaming business. According to the company, which already has a tie-up with streaming leader Spotify in some markets, it is aiming at "ways to please drivers". Spotify has at least 50m paying subscribers for its service.