Under Armor’s brand ambassador Dwayne ‘The Rock’ Johnson has rolled out his first collection, The Work, at the Dubai Mall store.
Selfridges says ‘I do’ to wedding ceremonies
Selfridges has unveiled a unique non-traditional wedding service after lockdown restrictions disrupted more than 150,000 weddings in the UK in 2020. Couples can now hold their ceremonies at the department store’s Oxford Street, London, store during the summer.
“We’re driven by making our customers’ worlds brighter through unforgettable experiences,” said Rebecca Warburton, Selfridges director of events and customer experiences. “For those looking for a truly unique way to get married this summer, we’re excited to launch weddings at Selfridges. Bringing together some of our amazing experiences, we can’t wait to create custom packages in celebration of people’s love for each other.”
The offering can be tailored to each couple, with ceremonies taking place in the Wedding Suite on level four.
The retailer’s pop-up space, The Corner Shop, will see a wedding takeover in August, with a curated range of vintage and pre-loved womenswear, menswear and accessories that can be purchased or rented for the big day as part of the company’s Resellfridges and Selfridges’ Project Earth initiatives.
Guests can also purchase gifts at The Wedding Shop, while the happy couple and their wedding parties can book appointments for everything they need at Selfridges, including makeovers, styling appointments, floral arrangements and canapé consultations.
Macy’s unveils new vision for Herald Square flagship store
Macy’s is renewing its commitment to its flagship Herald Square, New York, store with a US$235 million plan to turn the surrounding neighbourhood into a pedestrian-friendly, modern space with subway access, improved transit connections and elevators that meet ADA [Americans with Disabilities Act] guidelines. Macy’s will also build a commercial office tower above the iconic store.
The US department store chain said the project will generate US$269 million annually in new tax revenues for New York City, support 16,290 annual jobs and add US$4.29 billion in annual economic output.
“Macy’s Herald Square is one of New York City’s most iconic institutions, and, as we plan for the future, we are doubling down on our commitment to New York by reinvesting in our flagship location while committing $235 million in private investment to upgrade the Herald Square neighborhood through our tower project,” said Jeff Gennette, chairman and CEO of Macy’s.
Victoria’s Secret, Bath & Body Works to split into separate companies
Lingerie brand Victoria’s Secret and skincare business Bath & Body Works will be demerged into two separately listed companies more than a year after parent company, L Brands, started exploring its options to sell or spin off the struggling Victoria’s Secret business.
L Brands chair Sarah Nash said the brand had made significant progress on its turnaround efforts over the past 10 months.
“Both Bath & Body Works and Victoria’s Secret are leaders in their respective markets and, as separate businesses, each will be ideally positioned to benefit from a sharpened focus on pursuing growth strategies best suited to each company’s customer base and strategic objectives,” she said.
But Global Data MD Neil Saunders was less bullish about the achievement saying there was “little evidence” on the surface to support claims the brand is on a pathway to recovery.
“The divorce gives Victoria’s Secret no place to hide,” Saunders said. “Its numbers will no longer be flattered by the contribution of Bath & Body Works and its management team will be fully accountable to investors. Such accountability is no bad thing and will likely sharpen efforts to enact a genuine turnaround at the company.”
Still, he believes the creation of two public companies makes sense given the bull market and that the move will most likely create value for shareholders over time.
L Brands said it expects to record operating income of about US$570 million – US$380 million from Bath & Body Works and US$245 million from Victoria’s Secret.
CEO Andrew Meslow will remain at Bath & Body Works and Victoria’s Secret CEO Martin Waters will continue to lead the company after the spin-off.
Amazon seized two million counterfeit items last year
US retailer Amazon seized more than two million counterfeit products, invested more than US$700 million and hired more than 10,000 people last year to “protect its stores from fraud and abuse”.
In its 2020 Brand Protection Report, Amazon revealed that it uses advanced technologies and human investigators as well as tools, such as Brand Registry and Project Zero, to help brands deal with counterfeit goods.
“We’ve helped our selling partners keep their virtual doors open, and despite increased attempts by bad actors, continued to ensure that the vast majority of customers shop with confidence from our broad selection of authentic products,” said Dharmesh Mehta, vice-president of customer trust and partner support at Amazon.
“Our team’s relentless innovation has helped us stop six million attempts to create a selling account and more than 10 billion suspect listings as we continue to drive counterfeits to zero.”