Industry Updates: Apparel Specialty Stores and Department Stores – May 2015
Bonobos Inc. announced Andy Dunn, the company’s founder, is stepping down as CEO on June 1. Mr. Dunn will instead shift to the role of Executive Chairman. Francine Della Badia, will replace him.
Diane von Furstenberg has hired Paolo Riva as its brand’s first CEO.
The Donna Karan Company has named Maxwell Osborne and Dao-Yi Chow as Creative Directors of DKNY. The company also announced Hector Muelas has been named Chief Image Officer.
The Frye Company has named Adrienne Lazarus as CEO.
JCPenney announced Mary Beth West as Exec VP Chief Customer and Marketing Officer beginning June 1.
Nordstrom Inc. announced Blake Nordstrom, Pete Nordstrom and Erik Nordstrom as Co-Presidents of the company.
Sears Holdings Corp. hired Benjamin Schall to lead the new Sears REIT Seritage Growth Properties, the real estate investment trust formed by Sears.
Tilly’s Co. announced that CFO Jennifer Ehrhardt intends to resign in June 2015.
The TJX Companies Inc. announced Bernard Cammarata, Founder and Chairman, will retire June 11, 2015. Carol Meyrowitz will succeed him as Chairman.
Zulily, Inc. announced Brian Swartz was appointed as its new CFO.
Mergers and Acquisitions
Ascena Retail Group will acquire Ann Inc.
Gymboree announced it plans to close 30-40 stores and open about 12 new stores in fiscal 2015.
JCPenney announced that it’s launching a bedding collection from actress Eva Longoria.
JCPenney announced they will no longer sell the Joe Fresh fashion line starting in 2016.
Kohl’s Corp. has rolled out a buy online, pick-up in store service to all Kohl’s stores nationwide, allowing customers to pick up their orders within hours at their local Kohl’s store.
Macy’s will unveil its off-price business model in the fall by opening four new stores in the New York City area under the name Macy’s Backstage. The four pilot stores will average about 30,000 sq. ft. One location will test a café concept.
Pandora Jewelry has opened dedicated shops within two Disney merchandise locations: Uptown Jewelers in Magic Kingdom Park at Walt Disney World Resort in Florida and La Mascarade d’Orleans in Disneyland Park in California. The Disney owned and operated stores carry Pandora’s newly released spring 2015 Disney jewelry collection and the Disney Parks collection, as well as the brand’s full assortment of jewelry.
Recreational Equipment Inc. will open a third distribution center, located in Goodyear, AZ. REI expects the 400,000 sq. ft. facility to be operational in July 2016.
Simply Fashions Stores Ltd. announced it has begun going-out-of-business sales at Simply Fashion and Dots retail locations nationwide. Store furniture, fixtures, and equipment will also be for sale.
Sundance Catalog announced plans to open two new locations in 2015: one in Edina Galleria in Edina, MN, in September, and a second store in Dallas, TX at NorthPark Center in November. Up to five additional stores are planned for 2016.
True Religion Apparel Inc. has opened its first global flagship, at 513 Broadway in downtown Manhattan. The 3,000 sq. ft. space is the brand’s largest and most digitally-savvy store to date, starting with storefront windows that display a continuous stream of video content. Inside the store, digital kiosks and iPads provide product-on-demand by offering the entire True Religion collection through an endless digital aisle.
Foot Locker announced it will open a new 36,000 sq. ft., four-level store at 1460 Broadway. This flagship location will feature a new three-story, 35-ft. high all glass storefront and will include 4,500 sq. ft. of newly constructed LED signage visible from the heart of Times Square. Foot Locker plans to open its new store in time for the 2016 holiday season.
H&M will open at Uptown Village, Cedar Hill, TX. Measuring approximately 21,000 sq. ft., the store is set to open in the fall of 2015.
H&M will open its largest store in the world, in Manhattan’s Herald Center. The 63,000 sq. ft. store is set to open on May 20.
Kit and Ace announced plans to open a 1,400 sq. ft. store in late June in Denver, CO. The company plans to open another 30 locations in the next year.
Lane Bryant has opened its newest store in San Diego, CA.
Saks Fifth Avenue Off 5th has announced its first three store locations in Canada as it prepares to enter the Canadian marketplace next year. The retailer will open stores in Kanata, ON at Tanger Outlets, at Outlet Collection in Niagara, ON, and at Vaughan Mills in Vaughan, ON, in spring 2016. The three stores are the first of up to 25 locations that Saks Fifth Avenue Off 5th plans to open nationwide.
Sportsman’s Warehouse is opening a new store in Klamath Falls, OR.
Luxottica Group is partnering with Google to release a new version of Google Glass in the near future.
Nordstrom Inc. is piloting a new curbside pickup service in 20 stores. The service allows customers to order purchases online, and then text or call ahead of time so a store associate is already waiting on the curb when the customer arrives.
The North Face has collaborated with Jaunt, which provides virtual reality hardware and software, on an immersive virtual reality in-store experience designed to boost customers’ connection to the outdoors.