International Business

Paris - Louis Vuitton said Tuesday it has tapped billionaire heiress Delphine Arnault as the company’s executive VP. As the second in command, the daughter of LVMH CEO Bernard Arnault will oversee all product-related activities of the Louis Vuitton House.

LOS ANGELES — Virtual Piggy, an online service that allows parents to monitor their children's online shopping behavior, has appointed Laura Janke Jaeger as general counsel. 

Jaeger has more than 20 years of experience advising boards and management teams on strategic and financing activities, as well as transactional and other corporate and regulatory issues. 

Sak’s and Nordstrom have aggressively expanded their off price formats in recent years and now Neiman Marcus wants a bigger piece of the action.

Washington, D.C. -- Combined Properties and its joint venture partner Saban Capital Group have acquired The Terraces, a 173,000-sq.-ft. community shopping center in Rancho Palos Verdes, a suburb of Los Angeles. Spread across three terraced levels, center retailers include Trader Joe’s, Marshalls, LA Fitness and Starlight Cinemas.

The joint venture between Combined Properties and Saban Capital Group is assembling a $200 million portfolio of value-add retail centers in Southern California and the Washington, D.C., metro market.

NEW YORK — Estée Lauder has promoted Philippe Warnery to GM, Canada. He will report to Thia Breen, group president, North America. 

Warnery will be responsible for the growth and profitability of the Canadian affiliate with a focus on locally relevant opportunities, assessing market conditions, building key account relationships, managing operational effectiveness, building capabilities and aligning and engaging the Canada team. 

New York -- Luxury department store operator Neiman Marcus Inc. on Monday disclosed plans for a proposed public offering of up to $100 million.

The retailer’s plan, announced in a regulatory filing, comes some eight years after it was acquired for $5.1 billion by private equity firms TPG Capital and Warburg Pincus. In its filing, Neiman Marcus indicated a desire to expand its outlet center concept, Last Call, which currently operates 35 locations.

New York -- The Rana Plaza factory collapse in Bangladesh that killed more than 1,100 people highlights the serious risks that labor conditions can pose not only to workers, but also to organizations’ reputations, supply chains, and bottom lines, according to a report by global insurance broking and risk management firm Marsh.

FAIRPORT HARBOR, Ohio — OurPet's president John M. Silvestri has resigned citing personal reasons and will leave the company after July 5. Silvestri has been with the leading proprietary pet supply company since Feb. 12, 2012. 

"John's departure is voluntary and without any disputes,” said chairman and CEO Dr. Steven Tsengas. “We will miss John as he brought many best practices to our company that are facilitating our growth and development. We wish him the best of everything in wherever his future takes him."