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Steal This 5-Step Banking Innovation Playbook from Gentle Monster

South State Correspondent

Honkook Kim and his Gentle Monster Brand is a perfect example. The Banking Innovation Playbook – Step 1: Find a Niche Kim looked at the market and knew he needed traction in at least a single segment where he could create a brand and a following for Gentle Monster. Leveraging social media, Gentle Monster started to get traction.

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L’Oréal, Instagram Lead Late-Year Social Commerce Push

PYMNTS

“So it’s no surprise that Instagram is making moves to replicate TikTok’s most popular features — especially in areas where TikTok hasn’t already amassed a strong foothold, like Brazil,” says social media fan site Later. “In In practice, that means turning customers into influencers via a social selling technology platform.

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Luxury Retail Finds New Avenues As Brick-And-Mortar Fades

PYMNTS

The company has raised a total of $288 million in funding from venture capital and private equity backers, including Great Hill Partners, Greycroft, PWP Growth Equity, Sandbridge Capital, Industry Ventures and Canaan. Its new store offers a mix of women’s ready-to-wear items, along with jewelry, fine watches, home decor and art pieces.

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Nike Sues More Than 1,000 Websites And Other Parties Over Alleged Counterfeiting 

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Nike is suing 589 websites, the owners of 676 social media accounts and more than 100 unidentified companies and individuals for allegedly selling counterfeit versions of its Nike and Converse shoes online. Nike wrote in a lawsuit filed in the U.S. Taking a Hard Line Against Alleged Counterfeits .

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Fitness Platform Raises $5M For Online Workouts

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Looking beyond COVID-19, Wall Street is betting the at-home fitness boom will outlast the social distancing era. Bloomberg News reported NEOU , the New York-based live streaming and on-demand platform for trainers, has raised $5 million in capital from investors including Ares Management Corp.,

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BuzzFeed To Launch Unique Toy Store In NYC This Fall

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BuzzFeed is planning to open a toy store in New York City later this fall. New York Post reported that the store, called “Camp,” will be located in an 11,000-square-foot space in Manhattan’s Flatiron District. Freeman, senior managing director at GlassRatner Advisory & Capital Group, recently said.

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Pixlee Lets Retailers Market Using Real Customers’ Photos

PYMNTS

Pixlee , a San Francisco-based startup, allows retailers or brands to market directly to customers by using their own photos through curating them from social media or having the customer directly submit them for use, which the company says leads to a more authentic and engaging shopping experience for consumers.