🎵 Lizzo’s shapewear revolution

…Chewy takes a hit as puppy-palooza slows [Disclosures](   Truth hurts, and so does old-school shapewear [Chris Saucedo/Getty Images]   Yesterday’s Market Moves   Dow Jones 35,229 (-0.19%) S&P 500 4,602 (-0.63%) Nasdaq 14,442 (-1.21%) Bitcoin $47,050 (-0.85%) Dow Jones 35,229 (-0.19%) S&P 500 4,602 (-0.63%) Nasdaq 14,442 (-1.21%) Bitcoin $47,050 (-0.85%) Hey Snackers, Dunkin’ wants you to wake up with a fresh cup of joe… on your eyelids. The doughnut legend is [collabing]( with affordable-makeup brand [Elf]( on everything from coffee-scented lip scrubs to “glazed” glosses and doughnut-shaped beauty blenders. Stocks [snapped]( a four-day win streak while oil jumped as peace talks between Ukraine and Russia remained unsettled. [Apple]( shares dropped after an 11-day streak, its longest consecutive gain since 2003. Bone Chewy shares plunge as the puppy-palooza slows and supply snags threaten to take a bite out of customer loyalty Kibbles ‘n’ miss... [Chewy]( was a pandemic go-to for pet goodies as 1 in 5 Americans welcomed new WFH companions into their homes. The online pet-supply deliverer even turned its [first]( profit last year, after going public. But its fortunes have stalled. Chewy shares [sank]( 16% yesterday after it unboxed a $63M quarterly [loss]( — its third in row, and nearly double [what]( investors were expecting. - Empty digi-cart: Sales [jumped]( 17% from a year earlier, but Chewy expects growth to slow this year as supply setbacks create a “highly challenging operating environment.” The golden (retriever) era… Chewy makes most of its $$ through [autoship]( (think: weekly cat-litter deliveries). Over the past two years, the company has raked in 7M+ [new]( customers, but as the puppy-palooza fades so has Chewy’s growth. To win pet parents back: - Chewy Loyalty: Chewy will launch its first membership program next year. While the perk details are still TBD, it may help engage regular shoppers, who tend to splurge more on their fur babies. THE TAKEAWAY You can’t buy loyalty, but you can reward it… Chewy gained popularity — while differentiating itself from Amazon — with a relentless customer-centric approach. The company’s known for sending customers handwritten notes and even [custom pet portraits]( and flowers when their pets die. But not even above-and-beyond customer service is a match for persistent supply shortages. If your kitty’s favorite wet food isn't in stock, you’ll click it on [Amazon]( or grab it during your grocery run. Chewy’s planned loyalty program could keep pet parents from straying — if the perks are worth it. DNA From Lizzo to Kim K, celeb-driven brands redefine (and revive) the old-school shapewear market Took a DNA test, I'm 100%... compression fabric? Lizzo is famous for her serotonin-packed confidence anthems. Now the star is also a CEO: Lizzo's [launching]( a shapewear brand called Yitty (her childhood nickname) in partnership with athleisure maker Fabletics. It’ll be sold online and in Fabletics' 76 stores. - Bold: Yitty launches on April 12 with neon bodysuits, printed smoothing shorts, curve-hugging tanks, and other boldly colored shapewear. - Inclusive: Sizes range from XS to 6X (one size larger than Kim K's Skims) and prices range from $15 to $70 (many $$ cheaper than [Lululemon](. - Comfy: As a teen Lizzo sported pinch-tight girdles and corsets at school. With Yitty, she’s focused on super-soft fabrics. XS to 6X… sounds like success. OG shapewear was meant to be hidden. New-school shapewear is meant to be flaunted, and on all body types. Lizzo's goal: "take the shame out of shapewear by infusing the category with fashion.” It's already happening: while shapewear sales still haven't fully rebounded from their pandemic plunge (less going out = less shaping), the formerly hush-hush category is now cool. - Celeb brands like Kim’s K’s Skims and Rihanna’s Savage X Fenty have infused new life into shapewear. Skims recently doubled its valuation to $3.2B. - Pre-Kardashian: In the ’90s, Sara Blakely famously used $5K of her savings to [launch]( Spanx, creating modern-day shapewear — and notching a unicorn valuation last year. THE TAKEAWAY Shapewear could be the next athleisure… because the pandemic-comfort trend is likely to stretch on (case in point: Lulu’s sales are expected to top $7.5B this year). Athleisure boomed because we wore leggings while lounging and grocery shopping. Shapewear could also boom as people use it both as underwear and as outerwear (bodysuit + blazer = party fit). As the post-Spanx revival gains steam, the global shapewear market is expected to hit $7B by 2030 (up from $2B in 2020). What else we're Snackin' - [Ration]( Germany has started to prep for the possibility that Russia will shut off its natural-gas supply. The Russians are demanding that “unfriendly countries” pay for gas in rubles, which the West has rejected. - [Jitters]( Americans are more worried about inflation than at any time since the ’80s. They’re also the least concerned about Covid than at any point of the pandemic, a new Gallup poll found. - [Heist]( Hackers made off with $600M from a blockchain network linked to the popular video game Axie Infinity, the latest — and one of the biggest — crypto hacks to date. The attack went unnoticed for nearly a week. - [Robo]( [Google]( spinoff Waymo is rolling out fully autonomous rides in San Francisco. It’ll be Waymo’s first attempt at sending cars without human drivers into a major city, and comes as rival Cruise expands in SF. - [Strike]( Thousands of [Etsy]( sellers are planning to shut down their storefronts for a week in April to protest the site’s transaction fees, which just jumped to 6.5% from 5%. They’re also asking Etsy shoppers to boycott. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. The Snacks Daily Podcast French startup Sorare revolutionized fantasy soccer with NFTs (think: non-fungible Ronaldo). Now it’s expanding from the Euro leagues to the US. [Tune in]( to hear why Sorare is on its way to becoming France’s most valuable unicorn. Snack Fact Of the Day [Before 2012, Pizza Hut was one of the largest buyers of kale in the US — it used it to garnish the salad bar]( Thursday - Earnings expected from Walgreens, BlackBerry, and Blend Labs Authors of this Snacks own: shares of Apple, Amazon, and Google ID: 2104141 Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member [SIPC]( and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are for informational purposes only, and are not a recommendation of an investment strategy or to buy or sell any security, digital asset (cryptocurrency, etc) in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliates. 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