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BCBG debuts new retail format
New York - BCBGMAXAZRIAGROUP, the $1 billion global fashion brand, has launched a new, fast-fashion store concept, Lola, targeted at young women (ages 16 to 26). The 3,000-sq.-ft. store, has a cool, hip vibe and is designed as an urban studio apartment, complete with fireplace, daybed, spiral staircase, and closet. Salvaged doors give the storefront a Lower East Side feel.
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Wal-Mart to buy 51% of South Africa’s Massmart
Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent. Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.