MICHAEL KORS ACQUIRES VERSACE
Michael Kors is working to build a global fashion house. With the prior purchase of Jimmy Choo and its newest acquisition of Versace, Kors is shedding its contemporary label - and moniker.
The company will be renamed Capri Holdings and plans to maintain Versace's luxury aesthetic and build further long-term success. This includes increasing its global retail footprint from 200 to 300 stores, solidifying its e-commerce, and expanding the accessories and footwear penetration from 35 percent to 60 percent.
KOHL'S GOES HOLLYWOOD
Kohl's home offering is getting a Hollywood makeover. The department store retailer has partnered with "Property Brothers," a popular HGTV show, to release an exclusive lifestyle collection. The Fall 2019 collection is expected to feature modern furniture, bedding, bath, and kitchen décor.
BRAND COUNTERFEITING GAINS MOMENTUM
The rise in online, mobile, and social shopping has opened the door for new avenues of brand exploitation, resulting in 47 percent of revenue loss. With no signs of the replication epidemic slowing down, it's vital to implement an aggressive brand protection strategy.
AMAZON: THE 4-STAR RETAILER
Amazon is making a bigger push into brick-and-mortar retail. The company has opened a new store in NYC selling items exclusively with 4-star and above web ratings.
The permanent project, located in New York's Soho district, will enable Prime members to pay the online price, an incentive to loyalists. Unlike existing its bookstores, shoppers will find items ranging from kitchenware to electronics and "Trending Around NYC" items.
SNAPCHAT LAUNCHES SHOPPABLE ADS
Snapchat will launch Snap Ads, a new e-commerce advertising feature. Retailers can use their existing product feeds to scale and automatically create campaign ads for the mobile app. There is a high level of customizability, as advertisers can target customers based on their shopping preferences and browsing history.
THIS WEEK'S BRIGHT SPOT
"Tis' the season to spend moneyyyy." Retailers can anticipate positive earnings in Q4 as more than 80 percent of consumers plan to spend the same amount, if not more, this holiday shopping season. In a survey conducted with The Harris Poll, 75 percent of consumers think the economy is doing better today than last year and will improve in the next 12 months. Cha-ching!