The future of retail, through the lens of the auto-industry: In order to deliver the long-awaited Model 3 at its ambitiously low target of $35,000, Tesla is looking to cut costs. Its primary target? Tesla announced that, in an effort to make good on a 2006 plan to bring an electric car to the masses, it would be shuttering its 387 stores worldwide and shifting all sales online. "There's no other way," Elon Musk, CEO, told reporters Thursday. As a bonus, without storefronts, Tesla bypasses franchise laws that had previously prevented ownership in some states. Axios with the full scoop.
"There's no other way."
–Elon Musk, CEO
Allbirds is taking its game to China, opening storefronts in Shanghai and Beijing, according to a new Bloomberg report. A storefront, however, is likely just foreshadowing a more direct approach to the Chinese market by foreign DNVBs. “We’re confident that all the trends we’re seeing in the U.S. are a perfect storm sitting in China,” said co-founder Joey Zwillinger.
Martha Stewart is working on a new CBD line, because of course she is. The longtime home and garden maven’s dive into the weed waters shows just how much traction CBD has in the mainstream—leaving many, including Martha apparently—with dollar signs in their eyes. The Hustle with more.
Wayfair, in an effort to cut costs and deliver on fulfillment promises, will open a last-mile distribution center every month in 2019.
Hide your kids, hide your dog. Looking to expand its residential offering, FedEx debuts an autonomous last-mile delivery bot.
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–Josh and Peter from Whiplash