Accessories

Tough times have caught up with Rue 21.   The struggling teen apparel chain plans to close nearly 400 stores nationwide, the Associated Press reported. The shutterings will leave the retailer with about 700 stores nationwide.   Rue 21 confirmed the news in a post on its Facebook page, calling it a “difficult but necessary” decision.   

Walmart reportedly is about to make its fourth e-commerce acquisition in seven months as the chain continues to beef up its online arsenal and fashion offerings against Amazon.       The chain is in advanced discussions to acquire Bonobos, an e-commerce-driven apparel company that designs and sells upscale men’s clothing, according to Recode. Founded in 2007, the brand is known for its hip, stylish threads and expert fit.    

Uniqlo is set to open its third location in Canada.   The Japanese retail giant will open a two-level, 20,630-sq. ft. store at Metropolis at Metrotown, Burnaby, this fall. It will be Uniqlo’s first location in British Columbia, with the retailer’s other two Canadian stores in Toronto.   

Fashion retailer abof is breaking new ground by leveraging machine learning and natural language to better service its online shoppers.    Aditya Birla Online Fashion (abof) sells apparel, footwear and accessories for men and women, and has a strong millennial consumer base. Knowing this customer segment expects a highly convenient and distinctive customer service, abof needed a way to personalize its online experience.  

Abercrombie & Fitch Co. now has a way to get its fashions into the hands of its loyal shoppers in Southeast Asia — and fast.   Through a new wholesale agreement with Asia's leading online fashion destination Zalora, the teen apparel retailer will begin selling its Hollister merchandise through Zalora's online stores starting next week. The site will also begin offering Abercrombie & Fitch product later this month, according to Abercrombie & Fitch.  

Forever 21 announced a major expansion of its F21 Red division.   The fast-fashion retailer plans to open more than 40 F21 stores across the United States in 2017. The first three are scheduled to open in April, in San Antonio, Texas; Bronx, New York, and Chicago.   New locations will continue to open throughout the year in key cities, bringing the brand’s total store count to more than seventy locations by year-end.  

eBags is about to embark on a new journey.   The online luggage retailer is being acquired by Samsonite International. The deal, which is valued at $105 million, is part of Samsonite’s ongoing strategy to accelerate the growth of its direct-to-consumer, e-commerce business, and strengthen its existing digital capabilities, the company reported.   

In a move to avoid filing Chapter 11, the fashion retailer is planning to shutter approximately 12% of its stores.   The closures will incur an impairment charge of approximately $2.0 million and will make a termination payment to the landlord of approximately $7.4 million, according to a filing the chain made on April 4, with the Securities and Exchange Commission.   

Coach Inc. has tapped a 26-year fashion veteran to lead the company as its expands its brand portfolio.   Joshua Schulman has been named president and CEO of the Coach brand, effective June 5. In this newly created role, Schulman will be responsible for all aspects of the brand globally, reporting directly to Victor Luis, CEO of Coach, Inc. This new leadership structure follows the 2015 acquisition of Stuart Weitzman, and is an important step in Coach, Inc.’s evolution as a customer-focused, multi-brand organization, the retailer said.

A British lifestyle brand will open its first store in the United States this summer.   The White Company will open a 3,000-sq.-ft. flagship in the Flatiron section of Manhattan. Described as the first international flagship of the brand, the store will stock a curated selection of lifestyle, homeware and fashion products. A selection of The Little White Company products featuring white baby clothes and nursery equipment will also be housed in the space.