Online-only auctions have netted Sotheby's more than $285 million this year, which includes $560,000 for a pair of Michael Jordan's Nike shoes. "Sotheby's has been the major innovator in applying digital technologies into the auction space," said Daniel Langer, CEO of luxury consultancy Equite.
A shortage of travelers to Western Europe has led to a drop in sales for luxury brands, according to Kering CFO Jean-Marc Duplaix. Kering, along with LVMH, Prada and Hermes saw double-digit second-quarter sales drops, even though some of those brands reopened in early May.
Retailer Paper Source is continuing to use Happy Returns during the coronavirus pandemic, albeit with some changes to make returns contactless, speed up the process and ensure safety. Other retailers are quarantining returned items before putting them back on shelves or sending them to larger stores or distribution centers.
California's proposed fee on non-recyclable packaging has merit, but it should apply to all materials, including paper, plastic and metal, says Keith Christman of the American Chemistry Council. "Applying fees only to plastic packaging, as California's ballot initiative as currently drafted would do, would likely result in shifts to other types of packaging, which would significantly increase environmental impacts, especially greenhouse gas emissions," he says.
Ingram Micro's IT asset disposition division has given financial support to Dutch company Closing the Loop for its work to collect and recycle 12,000 phones in Africa. Todd Zegers, Ingram Micro's global vice president of ITAD and reverse logistics, says the effort will help offset the environmental impact of the laptops Ingram Micro resells.
American Leather quickly switched from producing made-to-order furniture to making thousands of hundreds of thousands of protective masks and gowns, says President Veronica Schnitzius says. She also discusses her career path in manufacturing and the value of working in many departments.
Field service operations is one example of how diesel manufacturer Cummins is digitizing core operations, Chief Information Officer Sherry Aaholm says. The company is also expanding its IT footprint to product engineering, which is part of shifting "the IT organization from buying and installing software packages to building software as intellectual property," she says.
A new tech training hub for jobs in STEM industries, such as cybersecurity, aerospace and robotics, is set to open in San Antonio, Texas, to help create a qualified pipeline for available opportunities at Port San Antonio. No prior experience is required to receive the free training, which initially will be targeted toward individuals who are unemployed.
Looking to expand its social justice and racial equality efforts, Target will offer space and business operations support to Summit Academy, a job-training nonprofit in Minneapolis. The partnership, named the North Star Innovation Center, will offer tuition-free training in health care, construction and information technology, along with GED programs.
Levi Strauss & Co. began a strategy transformation in 2011 under CEO Chip Bergh that the brand has had to accelerate amid shopping shifts brought on by the coronavirus pandemic. The company is focusing more on selling via its own channels, putting a bigger emphasis on head-to-toe looks and women's wear, and pushing further into omnichannel with ship-from-store, curbside and in-store pickup services, Chief Financial Officer Harmit Singh said.