The move follows the signing of a new business agreement with Challice Limited. Mulberry Asia will begin trading in Hong Kong from 3 April. In addition, a subsidiary in China and a branch office in Taiwan are expected to be operational this year once the business secures relevant business licences for the territories. The Mulberry... Continue Reading →
Amazon.com has agreed to buy Middle East online retailer Souq.com, thwarting a last-minute bid by Dubai billionaire Mohamed Alabbar's Emaar Malls, first revealed by Arabian Business on Friday. The value and terms of the agreement, which deal adviser Goldman Sachs called "the biggest-ever technology M&A transaction in the Arab world", were not disclosed. But sources... Continue Reading →
Swedish home furniture store IKEA announced its own affordable smart lighting system today called Trådfri, which means "wireless" in Swedish. The Smart Lighting range of products includes Trådfri LED bulbs, a remote dimmer switch puck, a gateway kit, a motion sensor kit, and dimming lights. IKEA is also introducing a selection of LED light panels... Continue Reading →
The head of Tesco’s international arm Trevor Masters has announced his departure from the company as the retailer shrinks its overseas operations. Masters, chief executive of Tesco International, is set to leave the company at the end of May following a 38-year career with the UK’s largest retailer. His responsibilities will be split between two... Continue Reading →
A new report by the New York Times details an array of initiatives by Amazon to expand its footprint in brick-and-mortar retail. The stores would mostly feature products, such as groceries and appliances, that have proven persistently difficult to sell online. Amazon is already moving forward on groceries in particular, and will soon open two... Continue Reading →
A thousand jobs are at risk at the discount fashion retailer Store Twenty One, formerly known as Quality Seconds, which is in talks with its lenders after defaulting on rent payments. The company struck a rescue deal with creditors last year through a controversial company voluntary arrangement (CVA), but is still struggling as more pain... Continue Reading →
Emaar said the acquisition would be in line with the strategy to align e-commerce with physical shopping Emaar said the acquisition would be in line with the strategy to align e-commerce with physical shopping Emaar Malls has submitted an $800 million bid to take over e-commerce giant Souq.com, the company has confirmed. In a bourse... Continue Reading →
Supermarket giant Tesco will unlock 100,000 of its coin-operated shopping trolleys after it failed to convert them in time for the circulation of the new £1. The new, lighter and reportedly more secure 12-sided coin enters circulation on Tuesday, beginning a six-month transition period before the old "round pound" ceases to be legal tender. Meanwhile,... Continue Reading →
Online shopping behemoth Amazon has avoided a $1.5bn (£1.2bn) tax bill after winning a legal dispute in a US tax court. Judge Albert Lauber rejected a variety of arguments presented by the Internal Revenue Service (IRS), bringing to an end a lengthy court battle. Ruling in favour of the world’s largest online retailer, he said... Continue Reading →
As expected, Apple today opened three new retail stores around the globe. The company opened a new location in Cologne, Germany, another one in Miami, Florida, and last but not least one in Nanjing Jinmao. We’ve rounded up some images of the grand opening experiences at all three locations, so head below to check them... Continue Reading →
Emaar Malls has bid up to $800 million to take over e-commerce giant Souq.com, sources familiar to the offer have have confirmed to Arabian Business. Last week Amazon agreed in principle to a 100 percent takeover of Souq.com, in a deal believed be worth around $580m. The Emaar offer for $800 million is thought to... Continue Reading →
Head of marketing Leane Adolph said on Wednesday all free-standing stores under both these brands would close by the end of March. "The company regularly reviews the portfolio's performance and relevance to market and decided to move the Mango business into the store-in-store concept within Edgars. Similarly, with Nine West, we will keep a wholesale... Continue Reading →
Technology retailer Maplin has unveiled a new store concept in Cambridge, allowing customers to fully engage with the latest Smart Home technology. The 290 sq m space at the Beehive Shopping Centre has been designed in distinct departments to showcase the benefits of, and allow interaction with, smart technology for the home. Design consultancy 20.20's... Continue Reading →
Hermès has recently opened a new store in London on the corner of Cadogan Place and Sloane Street. The new store which covers 400 sqm 0n two floors houses every one of Hermès’ 16 métiers. The interior, which took just under a year to design and build, was presented to the studio as a blank... Continue Reading →
London - Fashion and homeware retailer Matalan has expanded its international footprint with the opening of two new stores in Malta. The new stores, located in the centre of Sliema and Fgura, Malta, offer Matalan full range of products, including menswear, womenswear, childrenswear and accessories as well as homeware. The two new stores, which employ... Continue Reading →
UAE-based Al-Futtaim is seeking to open new stores in Egypt while stepping into Oman, according to a senior company executive. “We are currently working on expansion in Muscat, Oman, and are still studying the possibility of opening more stores in Egypt and some other countries,” John Kersten, managing director, Ikea, told Arabian Business. At present,... Continue Reading →
Target Corp. is bringing its small-format store to the heart of Manhattan. The discounter plans to open its first location in midtown Manhattan, a 43,000-sq.-ft. store in Herald Square, just west of the 34th Street and Broadway intersection, and one block from Penn Station — and across the street from the Macy’s flagship. The two-level... Continue Reading →
EBay Inc. EBAY, +0.33% said Monday it will roll out "Guaranteed Delivery" in the U.S. this summer, which will guarantee delivery in three days or less on 20 million items. The online auction company will also provider shoppers to search for items available for 1-day and 2-day delivery. The service will be provided at no... Continue Reading →
There are plans to open more stores in malls across New York state, New Jersey and Connecticut. The retailer reported “significant growth” in the second year of its US ecommerce business in its last full-year. It unveiled surging profits against strong comparables despite a “difficult trading environment”. Pre-tax profits, excluding exceptional items, were up 50%... Continue Reading →
UK Retail Sales for Amazon Approaching 10 Billion Dollars March 19, 2017 The United Kingdom is the world’s sixth largest economy, with a retail market estimated at $358 billion for 2016. As one of the world’s oldest and most mature economies, the UK will not grow at a rapid pace, certainly not with Brexit waiting... Continue Reading →
The high-end winter clothing retailer and brand, which trades in around 50 countries worldwide through hundreds of concessions and an ecommerce platform, will move into 244 Regent Street – the unit formerly occupied by Armani Exchange. Sources close to the situation told Retail Week that the deal for Canada Goose to acquire the lease on... Continue Reading →
Canada Goose, the maker of trendy $900 parkas, soared to new heights as it debuted as a publicly traded company on stock exchanges in Canada and the United States. On Thursday, Canada Goose's stock most recently traded at $16.58 on the New York Stock Exchange, about 8% below the opening price of $18 apiece. Shares... Continue Reading →
Mohammed Abdul Rahim Al Fahim, CEO of Paris Gallery Group of Companies. UAE-based retailer Paris Gallery has announced plans to open 30 new stores across the Middle East over the next five years. The company said in a statement that its expansion would focus mainly on the Gulf region and would see its workforce grow... Continue Reading →
Zara’s is trying an unusual strategy as brick-and-mortar retailers are desperate for more foot traffic – bigger stores. Zara’s newest store in La Coruna, Spain, which opened in September, is five stories with more than 54,000 square feet and is serving as a model for other flagship stores. Meanwhile, the women’s clothing and accessories retailer,... Continue Reading →
The 10,000 square foot store on Bluewater’s lower Rose Gallery is situated next to the forthcoming Missguided shop, which is set to launch this summer. Created by an in-house team, the new shop is the first of a new breed of UK concept stores for the fashion brand and includes women’s, men’s, kids and baby... Continue Reading →
Kent was chief executive of real estate portal Propertyfinder until its acquisition by Zoopla, and also spent 15 years with Microsoft including three years as managing director of MSN UK. She currently holds non-executive director roles at Pendragon, National Accident Helpline Group, Ascential, Coull and No Agent Technologies. Kent will serve on the Audit and... Continue Reading →
Banana Republic appoints new chief executive FASHION 16 March 2017 | by The Retail Bulletin Breitbard will report to Art Peck, president and chief executive of Gap, who will continue to directly oversee Banana Republic until Breitbard joins the company in early May. Click here Peck said: “Mark brings significant retail leadership experience to Gap... Continue Reading →
Due to launch on 22 March, the AND/OR brand has been created in collaboration with LA based denim specialists Calvin Rucker. The retailer will also sell a range of womenswear, shoes, accessories and lingerie to compliment the denim clothing. The 90 piece range will initially be available online and in 15 shops with items featuring... Continue Reading →
First mentioned last February, Apple is finally opening their largest Florida-based retail store in the growing Downtown Miami area. Alongside its March 25th unveiling, Apple is also inviting customers to their Nanjing Jinmao and Schildergasse location openings. All three of the new store pages include invitations for their respective grand openings at 10 AM on... Continue Reading →
Sean Madden, senior director of service and experiences for Nike's direct-to-consumer division, says the tech inside the store isn't meant to be the main attraction. Instead, he says these features are designed to make the shopping experience more personal. With the hoop, for example, the Kinect sensors are there to capture movements from your body... Continue Reading →
Shoppers and pedestrians walk past an Urban Outfitters store in the Center City neighborhood of Philadelphia, Pennsylvania. Charles Mostoller | Bloomberg | Getty Images Shoppers and pedestrians walk past an Urban Outfitters store in the Center City neighborhood of Philadelphia, Pennsylvania. Urban Outfitters isn't in any rush to sign leases on new stores. Instead, as... Continue Reading →
TK Maxx is officially coming downunder. The U.S. retailer will roll out a slew of standalone stores across Australia, replacing the current Trade Secret shops in operation, which TJX, the parent company of TK Maxx, bought in October 2015 for AU$80 million (US$60.59 million). TJX has continued to operate the stores under the Trade Secret... Continue Reading →
Affordable luxury brand Ted Baker has opened its newly renovated Tokyo flagship store, as well as two new shop-in-shops within prominent department stores. Located in the Japanese capital’s hip Omotesando district, the newly developed Ted Baker store has moved into a 4,500 square foot space. Previously the home of Marc Jacobs, the outfit spans three... Continue Reading →
Footwear retailer Aldo has appointed David Bensadoun as its new chief executive, to replace current boss Patrick Frisk. Bensadoun first joined the Montreal-based retailer – which has several stores in the UK – in 1995 as a project manager before working his way up to president of the Aldo Group in North America. He is... Continue Reading →
It said the changes would result in a net increase of about 1,500 positions, increasing the number of staff serving customers on the shop floor. Tesco to cut deputy manager roles at UK convenience stores LONDON: Britain's biggest retailer, Tesco , is replacing 1,700 deputy managers at its "Express" convenience stores with lower paid "shift... Continue Reading →
Trafford Park site sold for £5m The property was purchased by The Schroders MLIPUT for £4,968,000, reflecting a net initial yield of 6.24 per cent. A Trafford Park industrial scheme has been sold for just short of £5m as investors – and occupiers – take advantage of the surge in shed values. B8 Real Estate,... Continue Reading →
South Africa's best products, recognised through a market-leading independent consumer survey, were announced at the Product of the Year gala event in Johannesburg last week. South Africa's Product of the Year winners revealedPart of one of the world’s largest consumer-voted awards programmes, this independent consumer survey, conducted by leading global information and measurement company Nielsen,... Continue Reading →
Feb 28: Forever 21, a leading fast fashion brand from Aditya Birla Fashion and Retail Ltd (ABFRL), part of the Aditya Birla group, is further strengthening its foothold in Mumbai with the launch of its 4th store, taking the total count to 15 stores in India. Forever 21 is a California-based fast fashion brand that... Continue Reading →
Retail tycoon says deal is part of a cash settlement with Pension Regulator which has now halted its enforcement action Graham Ruddick and Sarah Butler Tuesday 28 February 2017 18.37 GMT First published on Tuesday 28 February 2017 14.42 GMT The BHS collapse led to a high-profile parliamentary investigation and calls for Sir Philip Green... Continue Reading →
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