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01 November 2012
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Global retail industry news

  Global Industry Watch 
  • Zara's founder Ortega outpaces Buffet in wealth
    Zara founder Amancio Ortega has surpassed Wall Street billionaire Warren Buffett in wealth, according to Bloomberg Markets magazine. Ortega, who runs the world's largest retailer, has amassed a $53.6 billion fortune, mainly by selling clothing at a reasonable price. "They are fast reacting to fashion, they are very flexible with their product and they are growing nicely," said Peter Braendle at Swisscanto Asset Management AG. Bloomberg Businessweek (31 Oct.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • UK clothing makers urged to source products close to home
    Clothing manufacturers in the UK are being urged to find sources in country and reduce the amount of apparel imports. A new Product Cost Comparison, commissioned by Lord Alliance, shows the cost of sending business to China is on the rise. "This is a clarion call to retailers to realise what they have on their doorstep. Retailers have been sourcing overseas but there is now plenty of opportunity at home," said James Sugden, director of Johnstons of Elgin. The Independent (London) (01 Nov.) LinkedInFacebookTwitterEmail this Story
  • Ami set to open Paris menswear store in December
    Ami plans to open its first menswear retail store in Paris' Marais district. The 800-square-foot store is set to open on Dec. 10. Designer Alexandre Mattiussi decided to open the location after the success of two pop-up stores in Paris earlier this year. He's looking to open another Paris location in 2014. Women's Wear Daily (subscription required) (31 Oct.) LinkedInFacebookTwitterEmail this Story
  • Next CEO doesn't expect holiday shopping to boost sales
    Next CEO Lord Wolfson isn't expecting a large spike in sales heading into the holidays. A recent cold snap in the U.K. boosted sales for the fashion retailer, giving it a good third quarter. "We don't think consumer sentiment will change in the run-up to Christmas. We are seeing significant volatility on a week-by-week basis," Wolfson said. The Independent (London) (01 Nov.) LinkedInFacebookTwitterEmail this Story
  Retail in Asia 
  • Carrefour sells Malaysia markets to Aeon
    Japan's Aeon has bought Carrefour's Malaysia stores for an enterprise value of $323 million. The French retailer was the fourth largest in Malaysia with 26 stores. The sale gives Aeon a leading position in the Malaysian market. Inside Retailing Online (31 Oct.) LinkedInFacebookTwitterEmail this Story
  Spotlight on Luxury Goods 
  • Fendi uses the finest in junk to create new handbag line
    Fendi's Carmina Campus line of handbags are made from the finest ... garbage. Items like leather from junked cars, old light switch plates, even truck tarpaulins and bottle caps are used to create the bags. "The aspirational customer doesn't want this. But the customer who has everything does want this. They already have the Herm├Ęs bag -- they have a lot of them, in fact," said Susan Stone, owner of the Savannah boutique in Santa Monica, Calif. The Wall Street Journal (31 Oct.), The Washington Post/The Associated Press (31 Oct.) LinkedInFacebookTwitterEmail this Story
  NRF News 
  • Webinar today on creating conversations via social media
    Effectively engaging with customers through social media means more than delivering relevant content to fans. The medium has quickly become a primary space for retailers to monitor consumer sentiments and gather insights to cultivate trends. In a STORES webinar today, executives from SAP Retail and Bazaarvoice will provide real-world examples of the ways retailers are analyzing user-generated content to manage customer interactions, improve loyalty and drive sales on social media. Learn more or register. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Nature does not equally distribute energy. Some people are born old and tired while others are going strong at 70."
--Dorothy Thompson,
American journalist and radio broadcaster


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