Ralph Lauren's latest quarterly sales and profits results beat forecasts, and this week the designer expressed confidence in Patrice Louvet, who took over as CEO last year. "Patrice and I have developed a strong partnership over the past year, and I am confident that we are on the right path," Lauren said.
A growing number of China's millennials are turning their passion for style to home goods, and several designers are teaming with furniture and homewares brands to design new lines to meet this demand. For example, IKEA teamed with designer Virgil Abloh on a line of furniture and home accessories.
Albertsons has named Gautam Kotwal to the position of executive vice president and chief data and analytics officer, with a mandate to boost the retailer's omnichannel growth. Kotwal built his data and analytics experience while an executive at Kohl's and Netflix.
Victoria's Secret still sells quality products and excels at service, but the brand's marketing isn't keeping up with cultural changes and it faces growing competition that's catering to younger tastes, industry watchers say. Newer brands like Aerie from American Eagle Outfitters and online retailer ThirdLove are promoting lingerie for more diverse bodies and lifestyles.
Jumia launched as an online retailer in Nigeria in 2012 and has become Africa's largest e-commerce player, with sales in 14 African countries and on a network of as many as 70,000 companies. The company, which did $597 million in gross sales last year, has overcome several challenges including vendors' lack of access to capital and spotty internet service.
L'Oreal Paris was busy producing video content during the Cannes Film Festival, including some segments in Mandarin that ran on Alibaba's Tmall marketplace. The beauty brand is increasingly turning to digital and social media to reach consumers in major markets such as China, where it did around $2.6 billion in 2017 sales.
CEOs, startup founders and top business personalities will discuss the shifting retail landscape and how to improve the customer experience as more than 2,500 leading members of the retail community gather in Las Vegas Sept. 12-14 for the Shop.org conference. See the speaker lineup.
Software, interactive features, immersive experiences and other technologies are becoming requirements for premium automotive suppliers, write Jian Xu and Xiaoming Liu of A. T. Kearney. They assert that "OEMs must dramatically diversify their investments in being a premium brand, or see their claims to premium status inevitably slip away."
Preventive maintenance is an important tool that helps companies avoid downtime and system failure, even if too many managers make excuses for not keeping on top of it, writes Michael Cowley. A failed preventive maintenance plan, he notes, is often because of a company culture that fails to provide the necessary leadership, training and persistence.
Trucking products firm Curt Group is relaunching its five e-commerce sites this year, replacing legacy systems that struggled to manage available inventory and cross-promote the company's brands. The company changed its name last year as part of a rebrand.
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