Sartorial Headlines Worth Knowing From India and Around The World
Looking back at 2015, we have an update for you from the Sartorialists around the World.
1. Avon To Separate Business with North America:
Avon Products Inc. will split off its North American business as part of a $605 million deal with private-equity firm Cerberus Capital Management. Cerberus to acquire 80 percent interest in North America. Avon was close to selling the North American business — a deal that drew concern from some investors. A shareholder group led by Barington Capital Group urged Avon to pursue a restructuring plan instead, rather than unloading its North American division at a “fire sale” price. But when the terms of the transaction were revealed on Thursday, investors applauded the deal, sending the shares up as much as 37 percent in early trading. the investment firm will make a $435 million investment in the parent company. It will take the form of convertible preferred stock with a conversion price of $5 a share.
2. American Apparel Founder’s Planning to Move Forward:
American Apparel Inc. founder Dov Charney’s attempt to return to the company moved a step closer after firms backing him made nonbinding offers to buy the bankrupt retailer. American Apparel, which entered bankruptcy in October, said there’s currently no transaction to consider, according to a spokeswoman. She did confirm that an indication of interest involving Charney had been submitted, and said the company evaluates all such overtures.
Charney declined to comment.
3. Banana Republic to Offer Limited Edition Styles for Immediate Purchase at Fall 2016 Presentation:
With all the news that companies are making moves to target the end consumer during New York Fashion Week, Banana Republic is jumping into the fray.
This season, Banana Republic will introduce a direct-to-consumer program that will allow customers to immediately shop a selection of limited-edition styles from the fall 2016 collection that will be shown in a presentation Feb. 13 during NYFW.
Banana Republic began showing during NYFW in February when it presented its fall collection. For years it had shown the following season’s collection to the media, but this was the first time it participated in NYFW.
Lexi Tawes, senior vice president of global merchandising at Banana Republic, said that shoppers’ appetite for immediacy has never been greater. “There’s been a lot of conversation of selling directly to customers and getting it into customers’ hands,” she said. “We’re going to give them a select group of looks at the show [that are available for immediate purchase].”
The company is narrowing down the selection and will make about 6 styles available immediately in a limited run. In addition to being spotlighted at the presentation, the items will be marketed online and through the company’s digital channel for immediate purchase.
4. Success Secret – Hermès Paris:
Last week, French luxury group Hermès posted a 16 percent rise in second-quarter sales, reaching $1.19 billion (£788m), with highest growth originating in Asia and North America. According to experts, the secret of company’s success is its strong ability to combine heritage with innovation, managing to capture new customers along the way. Luxury Daily magazine also noted that the high revenue of the brand might be due to the to sales of home furnishings and a strong spring/summer 2013 marketing campaign.
Lets take a look at all the above mentioned factors and analyse the impact they might have had on the sales.