The now-iconic Apple Store has its roots in a 1999 collaboration between the tech company's founder, Steve Jobs, and design firm Eight Inc.'s CEO Tim Kobe, with input from industry experts including Apple board member and then-Gap CEO Mickey Drexler. "In the end, we were guided by the need to express what Apple's core values were about. That's where all the different design elements of the retail space eventually developed," Kobe said.
The Debenhams name could become a player again in the British retail market with the opening of the first Debenhams Beauty store in Manchester, according to a post seeking to recruit beauty assistants. Beauty was a major category for the department store retailer before its stores closed and it was acquired by online fashion retailer Boohoo.
Jana Partners has acquired an equity stake in Macy's, and the activist investor group urged the retailer in a letter this week to spin off its e-commerce arm into a separate company, sources said. Macy's has a current valuation of $7 billion and Jana estimated in a recent presentation that the online business could be worth twice that.
Retail footwear prices rose 6.5% last month, topping the overall inflation rate, fueled by an 11.9% jump in kids' shoe prices and 4.9% and 5.5% increases in women's and men's shoes, respectively, according to the Bureau of Labor Statistics. Several factors have led to several months of price increases in the shoe department, including wage increases for retail employees in a tight labor market and higher import charges.
Fashion reseller Poshmark has acquired Suede One, a tech platform that uses technology to authenticate sneakers, for an undisclosed amount. The system depends on computer vision and machine learning to authenticate items priced at under $500 and adds human review for more expensive items.
Levi Strauss & Co. will upgrade its e-commerce site with visual search technology and computer vision functions that further personalize the online shopping experience, executive Louis DiCesari said. "The computer vision allows us to learn from pictures, and better link our family of products and how they relate to each other," DiCesari said.
British workout wear brand Gymshark has reportedly started working with investment bankers on a plan to go public, a year after reaching a £1 billion valuation. Influencer marketing has fueled growth of the brand, which debuted in 2012 and now has a presence in over 180 countries.
Higher costs for ingredients, energy and shipping has spurred China's biggest soy sauce manufacturer to raise prices. Foshan Haitian Flavouring & Food plans price increases of between 3% and 7% on its signature soy sauce and other products effective this month, the company reported in a regulatory filing.
Luxury conglomerate LVMH Moet Hennessy Louis Vuitton reported continued strong demand and a 20% increase in third-quarter sales. The strongest growth correlated with its fashion and leather goods brands, while jewellery and watches experienced only 1% growth and slow sales in China.
Ford and SK Innovation's planned electric vehicle and battery facility in Haywood County, Tenn., comes with state financial incentives, improved infrastructure and a workforce-development program at the site. General Motors and Volkswagen are among other automakers investing in the state.
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