Personnel Updates
• Kohl’s Corporation announced Kevin Mansell, Chairman, CEO and President will retire in May 2018. Michelle Gass, currently Chief Merchandising Officer and Customer Officer, will assume the CEO role.
• Tiffany & Co. announced it has named Roger Farah as Chairman. He succeeds Michael J. Kowalski.
Financial Focus
• Aerogroup International LLC has filed for Chapter 11 bankruptcy protection as it looks to close the majority of its U.S. stores.
• The Gymboree Corp. has emerged from bankruptcy as a new corporation under the name Gymboree Group. The company plans to close 350 underperforming stores.
• Rue 21 announced that it has completed its financial restructuring and has emerged from bankruptcy.
Mergers and Acquisitions
• Bass Pro Shops announced its acquisition of Cabela’s Inc. is complete.
• Camping World Holdings announced that it will purchase Uncle Dan’s Outfitters.
Industry Insight
• American Eagle Outfitters Inc. is preparing for its debut in India. The first stores are expected to open in Mumbai and Delhi in spring 2018.
• Coach Inc. has announced its rebranding as Tapestry. The new name is meant to reflect the company’s full spectrum of product offerings.
• DSW Inc. announced that it is considering adding a rental service, as well as shoe repair and storage facilities, to some of its stores.
• Forever 21 Inc. opened a new store dedicated to beauty. The first Riley Rose store opened in Glendale, CA. The company expects to open 10 Riley Rose locations by year-end.
• Kohl’s Corporation has announced that it will begin accepting returns for items purchased on Amazon.com. In-store Amazon shops will soon debut at 82 Kohl’s locations.
• Rent the Runway announced a new subscription service called “RTR Update”. It allows shoppers to choose four pieces each month, with shipping, returns, and dry cleaning included.
• Sears Canada Inc. announced it plans to close all of its stores and lay off about 12,000 employees.
Real Estate
• David Yurman has announced the reopening of its Boston outpost in Copley Place.
• Mango Inc. has opened its first location in India.
• Nordstrom Inc. opened a new location at Westfield Century City in Los Angeles, CA. The three-level, 154,000 sq. ft. store is a relocation from the Westside Pavilion. Amenities include a full-service restaurant and bar, a Style Bar and a MAC Makeup Studio.
• Saks Incorporated has opened a new 36,000 sq. ft. Saks Off 5th store in downtown Seattle, WA.
• Uniqlo announced it will open a new “denim concept” store in Los Angeles this winter. The company will also open its first location in Vancouver, BC.
Technology News
• Swarovski North America has teamed up with Mastercard to launch a virtual reality shopping app for the brand’s line of crystal home accessories, Atelier Swarovski.
