| Global retail industry news |  |
| Global Industry Watch |  |  |
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- 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.)     
| Retail in Europe | | |
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- 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.)
- 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.)
- 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.)
| Retail in Asia | | |
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| Spotlight on Luxury Goods | | |
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| NRF News | | |
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- 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.
| SmartQuote | | |
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 | 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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