By Noe Garcia | August 19, 2021
Authentic Brands Group, a global brand owner, marketing and entertainment company, announced on Aug. 12 that it had entered into a definitive agreement to purchase Reebok from Adidas.
Menswear-retail holding company Tailored Brands, Inc.,headquartered in Houston and Fremont, Calif., and includes in its portfolio Men’s Wearhouse, Jos. A. Bank, Moores Clothing and K&G Fashion Superstore, has announced Scott Vifquain as its new executive vice president and chief technology officer.
Foot Locker, Inc., the New York–based specialty-athletic retailer, has entered into a definitive agreement to acquire Eurostar, Inc., or WSS, for $750 million. The transaction will be funded with Foot Locker’s available cash.
As the apparel industry continues to recover from the COVID-19 pandemic and normalcy returns more each day, the back-to-school season is in full swing and even had a jumpstart this year with new trends, record spending, and a shift in buying power and consumer thinking.
Klarna, a leading global retail bank, payments and shopping service, has announced the acquisition of APPRL, a SaaS platform that allows content creators and retailers to work together frictionlessly to bring immersive and informative shoppable content to global consumers.
After a year of shuttering stores and a decline in retail numbers, Duer is betting on bricks-and-mortar as the way to go. The performance-apparel brand recently announced that it would open its newest location in early September.
PacSun is diving into the resell market with its first-ever resale initiative—PS Reserve.
The annual event all Amazon Prime members look forward to every year—Prime Day—took place June 21–22. The famed, almost holy, day that launched in 2015 is rife with big deals and incredible savings on everyday items from fashion and furniture to electronics. The 2021 Prime Day began at 12 a.m. PDT on June 21 and offered more than 2 million deals in more than 20 categories of items over 48 hours of epic savings.
A historically rich Studio City, Calif., site will experience a renewal as The Shops at Sportsmen’s Lodge welcomes visitors during late summer or early fall 2021 following a $100 million redevelopment. The 95,000-square-foot space will replace the property’s formerly occupied meeting-and-convention area.
DJM, a lifestyle-retail-center developer with offices in Los Angeles and San Jose, Calif., recently announced a $70 million recapitalization of its Lido Marina Village retail center in Newport Beach, Calif.
After a harsh year navigating COVID-19, retailers will be greeted by a robust economy in the third and fourth quarters of 2021, said Frank Kaufman, national practice leader in retail for the accounting and consulting firm Moss Adams.
Fred Segal was considered the founder of the specialty-retail approach that ushered in an influential Los Angeles and California sense of cool. He died Feb. 25 in Providence Saint John's Health Center in Santa Monica, Calif.
U.S. retail sales are forecast to make a big rally this year. Sales are expected to grow between 6.5 percent to 8.2 percent to more than $4.33 trillion, according to the National Retail Federation.
The COVID-19 pandemic forced retailers across industries to go on a crash course developing and scaling up their e-commerce. For many in the apparel industry, this platform saved their businesses. Applying principles of convenience to allure customers to their shops, including personal styling, shopping-incentive discounts, complimentary delivery and curbside pickup, fashion businesses also relied on selling through digital boutiques.
The National Retail Federation’s NRF 2021: Retail’s Big Show—Chapter One, an annual exposition that produces seminars and keynote addresses by industry stars, went virtual because of the COVID-19 pandemic.