Posted by Mark J. Miller on June 15, 2012 10:56 AM
Esprit has been trying to engineer a turnaround, last year announcing a $2.3 billion, four-year plan and hiring supermodel Gisele Bundchen as the Hong Kong-based brand's global face. Despite a minor uptick in sales as a result, the turnaround hasn't been dramatic — and company announced this week that CEO Ronald Van der Vis was quitting, making him the second top exec (following the chairman) to walk out in the last six months.
Bloomberg reports that Esprit Holding’s stock took a nosedive after the news. "The unexpected resignation is a serious blow to the company's transformation plan and will cast doubt on the execution," said Andrew Sullivan, principal trader at Piper Jaffray Asia Securities, to Bloomberg. "Investors may fear that his stepping down will bring the transformation efforts back to square one."
Van der Vis said on a conference call that he’ll remain in his post for 12 more months, and that he's stepping down for family reasons and not because of any dispute with the board. No strategic changes are planned to Esprit’s transformation program, he added, although some “adjustments” are possible during the transition.Continue reading...
Posted by Dale Buss on June 15, 2012 09:01 AM
Nokia plans to cut 10,000 more jobs, or one in three staff, and sheds CMO as it loses market share to Apple and Samsung and threatens mobile aspirations of Microsoft.
Disney spends $1.1 billion to spruce up its Disney California Adventure theme park, including a brand-new 12-acre Cars Land and Avengers plan.
Microsoft takes a page from Gmail in email revamp as Gmail gets a facelift, too.
AOL wins proxy fight over its content strategy.
Abercrombie & Fitch takes credit for Carly Rae Jepsen's Justin Bieber-fueled viral smash.
Apple expands "emoji" with LGBT consumers.Continue reading...
Posted by Shirley Brady on June 12, 2012 01:13 PM
H&M has announced its latest designer collaboration: the French fashion house Maison Martin Margiela, which is sharing its "unconventional fashion framework" with H&M customers in selected stores worldwide on November 15th. The co-branded capsule collection includes a women's line and, below, menswear.Continue reading...
Posted by Sheila Shayon on April 30, 2012 04:05 PM
Americans love their gift cards, as the average American adult gives five a year and they are the most requested gift. Now they can turn to Wrapp, a social gifting service that enables F2F (friend-to-friend) marketing on behalf of brands.
The Swedish startup, founded last year, launches today in the U.S. with major retail partners including Gap, Fab.com, H&M, Sephora, the Wall Street Journal, Brooklyn Industries, Warby Parker, WeSC, Gant, Bjorn Borg, with another 15 retailers in the wings.Continue reading...
Posted by Shirley Brady on April 3, 2012 02:27 PM
H&M today confirmed the name for the new higher-priced store brand it's planning to open in 2013, following rumors that it was developing a new sub-brand to extend its appeal to those shoppers who zoom in whenever the fast-fashion retailer collaborates on a diffusion line with a high-end fashion designer.
A publicist for the fashion-conscious Swedish-based retailer told AFP "it is correct that H&M will launch a new chain in 2013 called & other stories, but this is all the available information we have as of today." The retailer also confirmed to just-style.com that the new store brand will launch in Europe, and will "build on the positive experience of Cos."
H&M's stable of retail brands includes the higher-end Cos in addition to Monki, Weekday and Cheap Monday. A spokeswoman told Fashionologie that the new store brand "will not be a luxury brand, but it will be a retail chain that will follow the same ambition as H&M, to offer our customers the best price for a comparable item."
The & other stories name taps into a popular theme in retail, where creating a brand story is red hot. Witness the Stefan Sagmeister-branded Story, a New York concept store that launched in February and changes its theme, fixtures, brand partners and inventory every four to eight weeks. Its current theme: color.
Posted by Dale Buss on March 30, 2012 08:56 AM
Apple grapples with Foxconn labor audit.
BP says Gulf oil spill was smaller than claimed.
Best Buy reboots big-box format.
BlackBerry owner RIM sees former co-CEO depart amid $125 million loss, trims exec staff, and explores strategic options including sale of Canada's troubled smartphone-maker.
Burger King sells 278 restaurants to biggest franchisee; tests new menu items; cedes U.S. crown to Wendy's; and brings lamb burgers to the U.K.
CBS and Turner boost digital ad sales through March Madness.
Chrysler unveils new spots to follow Super Bowl's "Halftime in America" commercial with Clint Eastwood.
Daimler and BYD announce Denza, a new EV auto brand for China.Continue reading...
Posted by Shirley Brady on March 26, 2012 12:31 PM
QVC is selling Titanic-branded merchandise for sinking centenary next month. "Legacy 1912 –Titanicä" perfume, anyone?
H&M is rumored to have a high-end luxury fashion line in the works, while its Conscious Collection lands on April 14th.
Converse Chuck Taylor Premium line recasts iconic high-top sneaker in luxe leather.
Move over, Ralph Lauren's Big Pony and Lacoste's Big Croc — Benetton is joining the big logo brigade:Continue reading...
Posted by Shirley Brady on March 13, 2012 04:04 PM
WSJ reports on the biggest product placement extravaganza to hit U.S. broadcast primetime TV: Fashion Star, debuting tonight on NBC. Saks, Macy's and H&M are embedding their marketing message directly into the Project Runway-like competition in a bid to reach more consumers. Watch the trailer and a sneak peek below.Continue reading...