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11 January 2013
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Global retail industry news

  Global Industry Watch 
  • NRF gears up for annual retail conference
    NRF expects a crowd of about 27,000 for Retail's BIG Show, the annual conference that kicks off in New York City on Sunday with a slate of high-profile speakers including the CEOs of Macy’s, Starbucks and Wal-Mart. "For us, the focus is going to be on the positive opportunities that exist. None of the challenges are insurmountable," said NRF President and CEO Matthew Shay. Women's Wear Daily (subscription required) (10 Jan.) LinkedInFacebookTwitterEmail this Story
  Retail in Europe 
  • Changes along the Champs Elysées
    Retail rents on the Champs Elysées in Paris have made the street the third-priciest in the world, according to Cushman & Wakefield, in large part because tourists flock there to shop and take their pictures in front of luxury stores like Louis Vuitton. The street has been undergoing a transformation, with cinemas and fast-food outlets moving out and international brands including Abercrombie & Fitch, Banana Republic and Gap moving in. The Sydney Morning Herald (Australia)/Agence France-Presse (09 Jan.) LinkedInFacebookTwitterEmail this Story
  • Virgin Megastore France files for insolvency
    Virgin Megastore France has filed for insolvency, spelling an uncertain future for its 26 stores in France, the company said. The retailer cited slumping CD and DVD sales as consumers shifted to digital media and shopping at online retail outlets including Amazon. France 24 (10 Jan.) LinkedInFacebookTwitterEmail this Story
  • Value Retail and the rise of destination shopping
    Value Retail's luxury outlet villages in nine European cities are more akin to tourist destinations than malls, says CEO Scott Malkin. "If retail is detail, experiential retail is 10 times that. And with the Internet eating into store-based and physical experiences, we’re all moving toward focused, clustered, targeted and intensely delivered ‘experiences.'" Women's Wear Daily (subscription required) (10 Jan.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Retail in Asia 
  • Fast raises outlook on surprisingly strong Asia sales
    Japan's Fast Retailing reported strong first-quarter earnings and raised its profit forecast for the full year after seeing stronger-than-expected sales at its Uniqlo stores in markets including China and South Korea. Asian markets outside Japan are a key focus of the retailer's growth strategy. The Wall Street Journal (10 Jan.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  • Rakuten to transform, rename Buy.com
    Buy.com will become Rakuten Shopping at the end of the month, a change that reflects the Japan-based e-commerce company's push toward global expansion of the brand, said executive Mark Kirschner. Rakuten paid $250 million to acquire US-based player Buy.com two years ago. Internet Retailer (10 Jan.) LinkedInFacebookTwitterEmail this Story
  • Survey: Middle East, North Africa youth take to the Net
    More than four-fifths of young people in the 15-to-35 age bracket in the Middle East and North Africa are on the Internet every day, and nearly all of those daily users spent more than 30 minutes online per day, according to a survey conducted by Google and Booz & Co. More than three-fifths of those surveyed said they spend more than two hours each day on social network sites. eMarketer (10 Jan.) LinkedInFacebookTwitterEmail this Story
  Spotlight on Fashion 
  • Zara founder learned early to cater to customers
    Reclusive retail pioneer Amancio Ortega Gaona is credited with leading the fast-fashion revolution with the creation of Inditex, a journey that made him the world's third-richest man. This profile details the rags-to-riches journey of the founder of Zara, and his lasting influence on the retail industry. CNNMoney/Fortune (08 Jan.) LinkedInFacebookTwitterEmail this Story
  • Under Armour aims to open more branded shops
    Sportswear brand Under Armour is switching gears to build its brand in Europe, moving from mostly wholesale deals with other retailers to gaining its own retail presence with in-store shops at high-end department stores, said global marketing director Chris Carroll. Direct-to-consumer sales are forecast to grow from 20% to 30% of total European sales by the end of the year, he said. MarketingWeek.co.uk (U.K) (free content) (09 Jan.) LinkedInFacebookTwitterEmail this Story
  • Equity firm takes majority stake in JOIE parent
    Private equity firm TA Associates has acquired a 60% stake in Dutch LLC, the parent of fashion brands including JOIE, Equipment and Current/Elliott. The labels are sold in 75 countries, in boutiques and high-end department stores including Saks, Nordstrom, and Harvey Nichols. Boston Herald (10 Jan.) LinkedInFacebookTwitterEmail this Story
  NRF News 
  • Up-to-the-minute social coverage of Retail's BIG Show 2013
    Whether you're headed to Retail's BIG Show in NYC this weekend or just eager for the latest updates, check out NRF SmartBrief's Storify live feed, which curates the best and most important social content about the event. LinkedInFacebookTwitterEmail this Story
  • Building an e-commerce business in China: A guide for Western retailers
    China’s Ministry of Commerce reported that web-based business-to-consumer sales in 2011 reached $124.22 billion, further reinforcing expectations that China will soon overtake the U.S. as the largest online shopping market. In a new white paper posted in the Shop.org library, hybris software examines the significant technical and cultural differences retailers must understand to meet the distinctive needs of Chinese consumers, and identifies best practices for evaluating e-commerce vendors and platforms. Download the white paper. LinkedInFacebookTwitterEmail this Story
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