As many small businesses face challenges during the coronavirus pandemic, Lowe’s is giving them a shot to get their products on its store shelves and website.
Lowe’s CEO Marvin Ellison said Tuesday on CNBC’s “Squawk on the Street” that the home improvement retailer is teaming up with Daymond John, a star of ABC’s “Shark Tank,” to mentor entrepreneurs across diverse backgrounds, listen to their pitches and narrow the pool to standouts. The initiative will ultimately culminate in a one-day pitch competition judged by Lowe’s executives and hosted by John.
“Although we’re a big company, we’re fortunate to be classified as an essential business, we understand that the success of our broader macro economy is going to be the small businesses and the ability for small businesses to continue to grow and thrive,” Ellison said. “We understand that Covid-19 has created an incredible strain on the economic viability of many of
Enter Amazon. Company leaders announced Tuesday it’s going to start carrying high-end brands. They’re calling the new venture Luxury Stores, and it’s only available through the app for prime members and by invitation only. If you have Amazon Prime and you haven’t gotten your invitation, click here. The first designer being featured is Oscar de la Renta. You can open your Amazon app and see the fall/winter collection along with handbags jewelry and accessories.
Restaurants going belly up
Luxury retailers aren’t the only ones struggling. It’s a tough time to own a restaurant. And it seems selling take-out is not enough. According to the National Restaurant Association, 100,000 eateries have closed in the last six months. That means one in six have either closed down permanently or for the foreseeable future. And nearly 3 million restaurant employees are out of work. Those that are still open are struggling. Last