Sears May Be Facing Its Final Days and DSW Acquires Camuto Group
IS THIS GOODBYE, SEARS?
At one point, Sears was America's largest retailer and employer. Its decline dates back to the pre-digital era, before the online threat to brick-and-mortar retailers.
Impending endings are the worse, and signs of bankruptcy loomed in the form of store closings, financial problems, and the latest: a major stock dump from investors.
If Sears files for bankruptcy, it could try to salvage what's left by shedding unaffordable leases and debt to remain in business. But, in light of what has happened to Toys "R" Us, RadioShack, and Sports Authority, this may be goodbye, for real.
GET READY FOR WeMRKT
WeWork plans to expand its retail concept, WeMRKT, to 500 locations. The coworking company has branched into the business of convenience, offering its members access to gyms and coding classes. WeMRKT will sell healthy snacks, office necessities, and branded apparel.
THE QVC OF STREETWEAR
NTWRK is a new streaming platform for the YouTube generation that gives consumers access to live, by-appointment drops featuring exclusive, limited-edition products. Much like QVC, the network will have hosts and on-air talent to entertain viewers between sales.
DSW ACQUIRES CAMUTO GROUP
DSW Inc. has acquired Camuto Group for $200 million. This includes Vince Camuto, Jesica Simpson, and Lucky Brand. DSW will also have full control of Camuto Group’s 1,000 global associates and its international production, design and sourcing framework, and global operations in Brazil, China, and New Jersey.
DSW also partnered with brand development company Authentic Brands Group to purchase the Group's brands—including Louise et Cie, Sole Society, CC Corso Como, and Enzo Angiolini.
“This is fortuitous timing since DSW Inc. had identified a need for a design and sourcing organization to ensure long-term growth," says Simon Nankervis, Chief Commercial Officer at DSW.
TARIFFS? WHAT TARIFFS?
Despite tariffs on billions of dollars worth of imports coming in from China, imports at U.S. container ports are expected to stay at "near record levels," the National Retail Federation (NRF) and Hackett Associates said. Since retailers are not immediately able to change sourcing, importing productions from China will continue.
THIS WEEK'S BRIGHT SPOT
Arielle Charnas, the founder of fashion blog 'Something Navy,' has turned her influence into the beginnings of a fashion empire and a partnership with Nordstrom. In just one day, Charnas drove over $4 million in sales. The influencer significance lies in authentic engagement and ability to connect with her 1.1 million followers.