International Business

Signet Jewelers Limited has closed its previously announced investment from Leonard Green & Partners.   The private equity firm invested $625 million in the form of convertible preferred shares. The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016, in connection with the transaction.  

American & Interstate Signcrafters, a full service sign manufacturing and project management company, has hired industry veteran Mike Morelli. He manages national, and international, sign programs and oversees business development in the southeastern United States   Morelli brings to the growing American & Interstate Signcrafters team years of experience leading retail, fashion, hospitality, and QSR sign and branding programs.   

Wolf & Badger, a strong supporter of emerging fashion brands, is dropping anchor in the United States.   Founded in February 2010 by brothers Henry and George Graham, the British retailer will open a 2,500-sq.-ft. flagship in Manhattan’s SoHo neighborhood, in February. Although Wolf & Badger operates two stores in London, it is primarily an e-commerce player, with over 90% of its sales coming from online. But similar to many pure players, it feels a physical space is crucial to connecting with customers.  

American Eagle continues to strengthen its management team to further drive its growth.   Bob Madore has been appointed executive VP and CFO, starting Oct. 28. In his new role, Madore will oversee all aspects of finance, merchandise planning and allocation, and investor relations. He will report to American Eagle’s CEO Jay Schottenstein.  

Walmart’s next e-commerce power-play is reportedly in the works.   In its latest move to compete against its online nemesis amazon.com, Walmart is reportedly ready to invest up to $1 billion in Flipkart, according to an article in Quartz.   

Forever Flawless, a global skin care company that puts diamond dust in its creams, has opened a flagship store at Westfield World Trade Center in New York.   The company, which claims to bring celebrity skin care methods to consumers, sells Black Diamond Age Defying Series, Pink Diamond Collagen treatments, and 24 Karat Gold therapy.   Forever Flawless fields stores in Hong Kong, London, Madrid, Miami, London, and Syndey, among other locales.

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West Elm is expanding into the hotel business. And most everything in the guest rooms will be for sale.   The retailer, a division of Williams-Sonoma, is partnering with hospitality management and development company DDK to launch a chain of boutique hotels.    

Office Depot Inc. has agreed to sell its European business to an investment group.   The office-supplies retailer is selling its European operation to German investment firm Aurelius Group.   Office Depot Europe operates more than 100 stores in Europe, under such banners as Viking.  

Accenture, a global professional services company, has entered into an agreement to acquire Kurt Salmon, a global strategy consulting firm focused on the retail industry.   The acquisition will expand Accenture Strategy’s capabilities in delivering strategy consulting services to retailers and private equity firms in a world disrupted by digital.
   

A longtime McDonald’s veteran has joined the fast-growing Dunkin’ Donuts.    Dunkin' Brands Group, parent company of Dunkin' Donuts and Baskin-Robbins, announced that David Hoffmann has been appointed president of Dunkin' Donuts U.S. and Canada, effective Oc. 3.