Walmart has promoted executive Micky Onvural to CEO of Bonobos, the men's clothing brand it acquired in 2017. The British executive's resume included stints at eBay and L'Oreal before she joined Bonobos as marketing chief two years ago.
Former Saks Fifth Avenue and Ralph Lauren executive Denise Incandela is leading Walmart's effort to raise the fashion bar on its namesake, Jet.com and Shoes.com e-commerce platforms. Incandela's efforts to stave off competition from Amazon include upgrading Walmart's fashion offerings and creating more attractive online images for its clothing across all price points.
Luxury automakers Jaguar, Audi, BMW and Mercedes-Benz are preparing to release all-electric SUVs in competition with Tesla's Model X. Audi this week introduced its E-Tron model, which is expected to cost less than the Model X and to feature Amazon's Alexa voice tool.
Retailers are increasingly incorporating artificial intelligence and other tech tools in their efforts to improve the shopping experience and give customers what they want, according to speakers at the Shop.org conference in Las Vegas. "Retail isn't dead. Bad retail is dead," CVS Pharmacy President Kevin Hourican said.
A new round of US tariffs on $200 billion in goods from China is expected to start driving up costs for retailers, at least some of which will be passed along to consumers in the form of higher prices. "With these latest tariffs, many hardworking Americans will soon wonder why their shopping bills are higher and their budgets feel stretched," NRF President and CEO Matthew Shay said.
Fashion e-commerce player Stitch Fix has expanded its men's business with new brands and styles, and a bigger range of sizes. The changes resulted from customer data and feedback gleaned in the two years since the men's line launched.
German retailer Kaufland has begun recruiting managers, buyers and other staff in three Australian cities as it prepares to open its first supermarkets in the country. Kaufland operates more than 1,200 stores in Europe.
UK department store House of Fraser plans to eliminate the rest of its private-label brands, including Issa and Biba, sources said. The retailer was acquired by Sports Direct last month for £90 million, and the new owner is executing a restructuring plan.
Indian online fashion retailer Myntra, which is owned by Walmart, is looking for mall space in several cities with an eye on opening multibrand franchise stores, sources say. The move into brick-and-mortar retail could include both small specialty makeup stores and large department stores.
Luxury brands including Hermes and Moncler are turning to e-commerce to win over China's large population of wealthy consumers. The country's shoppers spend $73 billion yearly on luxury goods, and they tend to be tech-savvy and under 45 years old.
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