Naranja Lakes Joint Venture has sold a 98,471-square-foot shopping center to Longpoint Realty Partners for $11.65 million. The South Florida property is anchored by Fresco Y Mas and includes Family Dollar and T-Mobile among its tenants.
Azoya International's Franklin Chu explores the opportunity of blending e-commerce with social media, looking at how the success of WeChat in Asia could be replicated for US marketers, and be even more lucrative, via Facebook Shops. Chu emphasizes the importance of social content to drive brand and product discovery and highlights that social e-commerce could particularly appeal to American consumers who are used to purchasing directly from brands instead of via online marketplaces.
Ahold Delhaize USA has rolled out a plan to cut its carbon footprint and bolster its sustainability practices. The grocer says it will work to reduce emissions from its stores, offices and distribution centers, and has updated and enhanced its GMO and animal welfare policies.
Ford Chief Financial Officer Tim Stone leads the company's crisis team and has focused on liquidity for Ford and its suppliers during the pandemic. Stone had separately narrowed Ford's focus for reporting quarterly metrics but has reverted to a wider look since the pandemic, all while forgoing full-year guidance and delaying release of a five-year plan.
Burberry has opened a new store in Shenzhen, China, that is leveraging dressing room selfie culture to enhance the shopping experience and reward customers for sharing on social media. Customers can use the store app to reserve dressing rooms or make reservations at the cafe and can scan QR codes to unlock extra content; as customers use the app, they accrue rewards, similar to credit card incentive programs.
L.L. Bean's foray into wholesale with Staples, Nordstrom and sporting goods retailer SCHEELS is proving to fit well into the retailer's omnichannel strategy and is helping get its products in front of new customers, L.L. Bean CEO Stephen Smith said. "We're going to learn a lot, and if we like it we'll keep doing it," he said.
Pier 1 Imports' new owner Retail Ecommerce Ventures plans to launch a new e-commerce store under the home goods brand later this month. Retail Ecommerce Ventures' $31 million purchase of Pier 1's intellectual property was approved by a bankruptcy court last week.
Kendra Scott debuted a virtual try-on feature in April to re-create the experience of shopping for earrings and other jewelry in the brand's stores after the pandemic forced them to close in March. The tool has proven successful at drawing customer engagement, and those who use the try-on tool are more than three times more likely to buy something and spend 20% more on their orders.
The men's personal care market is expected to be worth $166 billion by 2022, according to Allied Market Research. Non Gender Specific is hoping to attract more male customers with its new face cream and gender-neutral brand identity, a goal it shares with Fenty Skin and One/Size by Patrick Starrr.