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News Briefs

  • 7/25/2023

    Bath & Body Works names CVS Health, Merck veteran as CFO

    Bath & Body Works has more than locations in the U.S. and Canada.

    Bath & Body Works has named a seasoned financial executive as its next finance head.

    The personal care and home fragrance retailer has appointed Eva C. Boratto as CFO,  effective August 1. She succeeds Wendy Arlin, who, as previously announced, will step down from the role on July 29, 2023.  

    Boratto  most recently served as CFO of life sciences company Opentrons Labworks. Prior to that,  she was  executive VP and CFO at CVS Health Corp. During her 11-year tenure at CVS Health, Boratto played a key role in the development of the company’s growth plan, including investment in digitization efforts and new businesses, and supporting the integration of its $69 billion acquisition of Aetna, according to a release.

    Prior to joining CVS Health in 2010, Boratto spent 20 years at Merck & Co. in roles with increasing responsibility, including VP, U.S. market finance leader.

    “We are pleased to welcome Eva to Bath & Body Works at such an exciting time for the company, and we look forward to benefitting from her strong financial expertise, retail knowledge and leadership experience,” said Gina Boswell, CEO, Bath & Body Works. “Eva is a results-oriented leader with a strategic and innovative mindset, which will be integral as we continue to take actions to elevate the Bath & Body Works brand and build on the capabilities that will drive profitable growth.”

    Bath & Body Works has more than 1,800 company-operated locations in the U.S. and Canada and more than 435 international franchised locations to an online storefront.

     

  • 7/24/2023

    Casper expands executive leadership team

    Casper Sleep operates more than 70 stores.

    Casper Sleep is shoring up its sales, product and marketing strategy with two new C-suite additions.

    The company has appointed Brad Bailey as chief sales officer. He will oversee the retail and wholesale functions for both Casper’s owned retail stores and partners.

    Most recently, Bailey served as VP of sales at Emery Jensen Distribution. Prior to that, he was sales director at Tempur Sealy International.

    Bailey also served as executive VP of sales and marketing at VIP Cinema Seating, and as executive VP of sales at Serta Simmons Bedding.

    In addition, Casper named Jeff Willard as chief growth and marketing officer. He will oversee all marketing and product development functions, driving the company’s product assortment and leveraging data-backed consumer insights to further the brand.

     Most recently, Willard served as president of boutique health & wellness lifestyle brand and business incubator Healthy Lifestyle Brands. Prior to that, he was CEO of Zac Brown Collective, and executive VP of marketing at Simmons Bedding Company.

    “We are delighted to welcome Brad Bailey and Jeff Willard to our team — two tenured executives with proven leadership track records, deep experience, and brand acumen,” said Emilie Arel, president and CEO at Casper. “Their exceptional talent and expertise will be invaluable as we optimize our wholesale and retail strategy, further solidifying Casper’s position as an industry leader.”

    Casper, which launched online in 2014 and was acquired by Durational Capital Management in 2022, pioneered the mattress-in-a-box concept and is credited with helping to reenergize the mattress category. The company has expanded its offerings beyond mattresses in recent years to include pillows, bedding, furniture and more. 

     

  • 7/23/2023

    New owner of Buybuy Baby could reopen some stores

    BuyBuyBaby

    BuyBuy Baby may live to see another day in brick-and-mortar.

    Dream On Me Industries, the Somerset, N.J.-based baby goods company which recently purchased BuyBuy Baby’s intellectual property from its bankrupt parent Bed Bath & Beyond,  has bought up to 11 BuyBuy Baby store leases and is well-positioned to reopen stores, reported CNBC, which cited court records.

    Dream On Me Industries bought the leases at a bankruptcy-run auction last week for a total price of approximately $1.17 million, the report said. Four of the leases are in New Jersey, specifically in Paramus, Bridgewater, Woodbridge Township and Cherry Hill. Two are in New York, with the remaining in Maryland, Delaware, Massachusetts, Connecticut and Virginia. 

    Dream On Me’s $15.5 million purchase of BuyBuy Baby included the chain’s  trademark, digital properties, the mobile platform, business data, and advertising and marketing assets.  It did not include BuyBuy Baby's physical stores. 

    Dream On Me sells its merchandise through retailers that range from Amazon to Walmart to Kohl’s. (It was also one of BuyBuy Baby’s suppliers.) According to its website, the company’s brands include Dream On Me, Evolur Baby, Sweetpea Baby, TailZzz; Hannah & Sophia and Slumber Baby.

     

  • 7/21/2023

    Diane von Furstenberg reboots Asia-Pacific presence with new store in China

    Diane von Furstenberg store

    A luxury fashion brand opened the doors to a new store in Hong Kong — and more are on the way.

    Following a two-year hiatus and reinvention of the brand’s business model, Diane von Furstenberg (DVF) is recharging its Asia-Pacific expansion with the opening of a new store in Hong Kong’s Harbour City shopping center. The approximately 1,000-sq.ft. store features a spacious and elegant interior design that includes a flowing glass curtain wall, water mill marble flooring, and gold-plated titanium display racks that create a stylish and refined atmosphere. 

    Carefully segmented display spaces are used to showcase the designer’s latest collections. One of these spaces highlights DVF's iconic black and white Chainlink print — a signature graphic that evolved from the founder’s personal signature.  

    "This boutique is a significant milestone for the brand in the Asia-Pacific region, and we hope to bring a new shopping experience to Hong Kong's fashion consumers," said Jessie Chen, DVF global partner and president of DVF China.

    The opening marks the jump-start of DVF's continued expansion  in the Asia-Pacific market, with an emphasis on the Greater China region. Specifically, DVF plans to open two more locations in China. The first will be a 1,154 sq.ft. location opening in September in The Grand Canal Shoppes at The Venetian in Macao, a luxury shopping center that features more than 360 stores. A 2,081 sq.ft. location will follow in December at The Londoner  Macao, a casino resort on Macau’s Cotai Strip. 

    DVF has been operating both traditional retail stores and an e-commerce site in China’s mainland for more than a decade, according to the company.
     

  • 7/21/2023

    Nearly 75% of these purchases happen in store

    Female shopper

    When it comes to buying home appliances, stores win out.

    Nearly three-fourths (71%) of home appliance purchases happen in-store and 75% of appliance purchases occur on the first visit to the store, according to the J.D. Power 2023 U.S. Appliance Satisfaction Study. Though 29% of purchases take place online, most shoppers still want to see the appliance in person.

    In other findings, Menards ranks highest (887) in customer satisfaction among appliance retailers, followed  by The Home Depot (867) and Best Buy (865).

    “This year’s data shows us that 56% of home appliance shoppers are doing their research online before heading in store to purchase,” said Christina Cooley, home intelligence lead at J.D. Power. “Though price is almost always going to be the main driver of whether someone decides to purchase an appliance or not, one-third of buyers did not purchase because they were seeking specific options and features and one-fifth indicated they couldn’t purchase, as their desired appliance wasn’t in stock.”

    The 2023 Appliance Satisfaction Study is based on 21,062 evaluations from customers who purchased home appliances during the past 12 months. The study was fielded from December 2022 through March 2023.

    For more information about the J.D. Power Appliance Satisfaction Study, click here .

     

  • 7/19/2023

    Giant Company names president

    John Ruane has been named brand president of The Giant Company.

    Ahold Delhaize USA said that John Ruane has been named brand president of The Giant Company. He has served as interim president of the chain since the departure of Nick Bertram in September 2022.

    Prior to being appointed interim president, Ruane served as senior VP and chief commercial officer for The Giant Company, leading the merchandising and marketing teams to develop and implement customer-centric strategies that support the continued growth of the brand, while also improving customers’ experience and the overall value proposition, the company said.

    Ruane started his career in the grocery industry at age 14 at Foodtown in New Jersey, where he worked through college. He later joined Pathmark and held positions of increasing responsibility at retail and in merchandising before joining Ahold Delhaize USA companies in 2011 and Giant in 2018. 

    “We have been fortunate to have John lead The Giant Company as interim Brand President during a time of transition, and we are excited about this next step in his career,” said JJ Fleeman, CEO, Ahold Delhaize USA. “He has led the team during a very important time in the company’s history as it celebrates its 100-year anniversary this fall. John is a leader who cares deeply about his team and serving customers. He will continue to drive strong performance and advance many of the hallmarks of The Giant Company brand, including growth in its local markets, innovation in operations and a strong commitment to diversity, equity and inclusion, as well as health and sustainability.”

    The Giant Company, headquartered in Carlisle, Pa., has193 stores, 132 pharmacies, 107 fuel stations and over 180 online pickup hubs and grocery delivery services, with operations across Pennsylvania, Maryland, Virginia, West Virginia and New Jersey. 

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