Monday, October 8th, 2018

Target Launches a New Private Label Brand
Company Update

The retail company announced that it’s launching Smartly, a new essential and personal care brand targeted towards budget-conscious and space-constrained shoppers.

The brand will carry approximately 70 items with most products at a price point of less than $2.

The Smartly brand will debut on Oct. 14th, “with new product rolling out through early 2019.”

The move looks to help Target compete against other retailers who have been heavily investing in private label brands, including Amazon who according to CNBC is said to be significantly growing its private label product catalog.

Kraft Heinz Announces a New Venture Capital Fund
Press Release

The company announced that it’s launching “Evolv Ventures, a venture fund that will invest in emerging tech companies transforming the food industry.”

“Kraft Heinz has committed up to $100 million” to the venture fund and has appointed “venture investor Bill Pescatello to lead the fund.”

Evolv Ventures will be based out of Chicago.

Lime Rolls Out Electric Scooters in Mexico
Press Release

The on-demand transportation company announced that it’s rolling out its scooter offering in Mexico.

The move officially expands the company’s presence in North America. Last week the company announced that it will open its first location in Canada.

Since it was founded in 2017, the company “has served more than 100 markets across the United States and Europe” with plans to launch in “50 new cities, internationally” before the end of the year.

Last July, the company announced that it entered into a strategic partnership with Uber to allow users to access available Lime scooters from within the Uber app.