eCommerce

New York -- Michaels Cos. seeking as much as $528 million in its U.S. initial public offering, Bloomberg reported. The arts and crafts retailer is offering 27.8 million shares at $17 to $19 each, according to a regulatory filing Tuesday.
 
The IPO is being managed by JPMorgan Chase & Co. and Goldman Sachs Group Inc.

Michaels was taken private in 2006 by Bain Capital and Blackstone Group in a $6 billion leveraged buyout. Each firm will own 40% of the company after the offering, the report said.

DSW’s Affiliated Business Group (ABG) division and Yellow Box Corporation have partnered to open a Yellow Box concept store at The Falls Shopping Center in Miami, Florida, Friday, June 20.

Yellow Box plans to host a grand opening event with Lucky Magazine on the afternoon of Saturday, June 28. The company also plans to open two additional stores in Southern California at the Topanga  and Sherman Oaks shopping centers in August.

Yellow Box is a leading women's footwear wholesaler notable for jeweled sandals and fashion footwear for women.

Who doesn’t have a website these days? Plenty of small business, according to Go Daddy, the domain name registrar looking to convince investors of its untapped growth potential ahead of a public stock offering.

Even though Go Daddy already has 57 million domain names under management and 12 million customers, the company contends only about half of the nation’s 28 million small businesses have a Web site. In addition, Go Daddy’s 57 million domain’s represent about 21% of the 270 million domain names registered world wide.

Houston -- Francesca's Holdings Corp. announced the appointment of R. David Minnix, Jr., as senior VP and head of boutiques, effective  July 8.  

By Girish Pai, AVP, Group Manager, Retail, CPG and Logistics for Infosys


Ali Baba is a literary character from the Arabian Nights stories known for his ability to get virtually anything he wants by shouting “Open Sesame!”

Walmart added to its collection of Silicon Valley acquisitions with the purchase of mobile fashion app Stylr.

Francesca’s has tapped David Minnix Jr. as the new VP and head of boutiques. The former chief stores officer at Dots Fashion will start his job overseeing the upscale boutique chain’s operations on July 8.

Minnix has also formerly worked for retailers like Zales and Pearle Vision, and at Dots Fashion oversaw store support and loss prevention departments, among other duties. At Francesca’s Minnix will oversee the company’s 519 boutiques, each of which is meant to feel like an independent shop.

New Delhi, India – Wal-Mart Stores In. has reportedly opened an e-commerce site to serve the small retailers that shop at its members-only cash-and-carry stores in India. According to Bloomberg, Wal-Mart is piloting the site for small retailers located in the cities of Hyderabad and Lucknow, with full rollout across India planned in January 2015.