Corporate Governance

When a retailer doubles its breath in two years, it needs an operating platform that supports accelerated growth.   The Fragrance Outlet knows this all too well. With more than 100 Fragrance Outlet and Designer Fragrances stores in the United States and Guam, and an additional 10 to 15 locations planned for 2017, the chain needed a platform that could support continued expansion, as well as omnichannel operations. The cloud-based Aptos Singular Commerce fit the bill.   

Alibaba is championing the fight against counterfeit merchandise.   In a new alliance with international brands including Louis Vuitton, Samsung and Mars, Alibaba has created an anti-counterfeiting group. Called the Alibaba Big Data Anti-Alliance, the 20-member consortium of industry and technical leaders is working to keep pirated goods off of Alibaba’s e-commerce platform, according to the company’s website.  

Target has made a key addition to its executive team.    The discounter has promoted Rick Gomez to the position of executive VP and chief marketing officer, effective Jan. 29. Gomez, currently senior VP of brand and category marketing, has been with Target since 2013. He replaces Jeff Jones, who left Target last summer to become president of Uber.   

What better place is there for global exposure than the Olympic Games?   At least, that is what Alibaba is counting on now that it struck a deal to become a top sponsor of the Olympic Games through 2028. The sponsorship, which is worth $800 million, pits the brand among giants like Coca Cola Co. and Samsung Electronics Co., according to Bloomberg.  

Did Walmart's $3.3 billion acquisition of e-tail startup Jet — the largest buyout in American e-commerce history — help it this holiday season?     A new report from Ugam finds Walmart's first holiday season following its acquisition of Jet.com last summer saw fewer out-of-stocks, but that the chain still has room for improvement on pricing and assortment.  

Faster shopping and the transformation of old age are two of the trends identified by Euromonitor International on its annual report of the trends that will shape the consumer landscape this year.   The “Top 10 Global Consumer Trends for 2017” report noted that 2016 was defined by uncertainty with growth in global consumer expenditure slowing to 2.4% in real terms – the lowest rate of growth since the financial crisis.  

The Council of Fashion Designers of America (CFDA) and Accenture are collaborating to help shape how the fashion industry integrates technology and consumer insights into its business practices.    Combining the creativity within CFDA’s membership with Accenture’s expertise in customer experience, strategy, insights and technology, the two organizations will create talent-development programs for today’s designers and tomorrow’s retailers.  

Trion Properties, which is in the business of acquiring and turning around distressed properties, has sold its Valencia Town Center Plaza outside of Los Angeles for $9.8 million.   The 21,186-sq.-ft. Santa Clarita center was less than 50% leased when Trion acquired it for $6.8 million in 2013, according to Managing Partner Max Sharkansky, and now is near full occupancy. He said the center “presented an opportunity for us to increase net operating income through aggressive leasing and cosmetic upgrades.  

Sears has a new strategy to help rebuild its brand and drive profitability: artificial intelligence.    Eyeing relationships with its Sears Automotive customers, the embattled retailer is piloting its “Digital Tire Journey,” a web app that relies on IBM Watson to help shoppers buy tires. Unlike typical ecommerce websites that often rely on a drop-down menu of pre-selected tire terms, Sears’ artificial intelligence-based web app delves into the driving and lifestyle preferences of shoppers.  

Another apparel retailer is looking to downsize its store portfolio.   BCBG Max Azria Group plans to close some stores as it turns its focus to licensing, e-commerce and selling through other retailers, Bloomberg reported.