News

NEW YORK — Iconix Brand Group has acquired Lee Cooper, a global lifestyle brand with over a 100-year heritage for $72 million in cash. The brand was acquired through the company's Luxembourg subsidiary, Iconix Luxembourg Holdings Sarl. 

New York -- As shares of his company reached an all-time high, fashion designer and retailer Michael Kors will sell 3 million of his shares as part of a secondary offering of 25 million shares, according to a Tuesday regulatory filing.

Kors' ownership in Michael Kors Holdings Inc. will fall to about 4.8 million shares, or 2.4%, down from 3.9% after the sale.

PORT WASHINGTON — Despite a plethora of constantly changing products, the consumer technology industry saw its sales decline 2% in 2012, according to The NPD Group. This is on top of the less than 1% drop in 2011. Since 2010, consumer technology sales have declined by $4 billion.

NORWALK, Conn. — Consumer goods manufacturer Unilever has implemented Terra Technology’s Demand Sensing and Multi-Enterprise Inventory Optimization solutions across Europe. These implementations are improving forecast accuracy and helping to create a more agile and efficient supply chain, contributing to significantly lower inventory and improved on-shelf availability.

By Gregg Brunnick, [email protected]

McLean, Va. -- Capital One Financial Corp. said Tuesday that it will sell off its Best Buy portfolio of private-label and co-branded credit card accounts. Current loan balances total about $7 billion.

The pair is severing their ties earlier than expected – the break-even sale of the portfolio to Citi is expected to finalize in third quarter 2013.

ATLANTA — Ingrid Saunders Jones, SVP global community connections for the Coca-Cola Company and chair of the Coca-Cola Foundation will retire after 30 years with the company, effective June 1. 

A well-respected global leader, Jones joined The Coca-Cola Company in 1982 and has held roles of increasing responsibility around the Company’s corporate giving and community outreach. She has served as Chair of The Coca-Cola Foundation since 1991.

MCLEAN, Va. — Capital One Financial Corp.has reached an agreement to sell the portfolio of Best Buy private label and co-branded credit card accounts, with current loan balances of approximately $7 billion, to Citi. In addition, Capital One and Best Buy have agreed to end their contractual credit card relationship early.