Retailers Enrich Consumer Experience With QR Codes

The funky black and white squares posted in store windows may look like optical illusions to some, but are gateways to customized shopping for those who recognize a QR code. 

More retailers — especially the bigger chains — are using these 2D matrix barcodes in-store or in window displays to enrich the consumer shopping experience, whether customers have time to go in-store or not.  The QR — short for Quick Response — code can be packed with information, all for the taking by anyone with a smartphone or tablet. 

Resource URL: https://www.sourcingjournalonline.com/retailers-enrich-consumer-experience-with-qr-codes/

Saks Inc. to Sell for $2.4 Billion

Hudson’s Bay Company, parent of luxury retailer Lord and Taylor, plans to buy Saks for $16 a share, for a total deal of around $2.4 billion.

The purchase price is a 5 percent premium over the company’s Friday closing price of $15.31. Saks’ stock was up almost 4 percent Monday on the news.

The deal has not been approved by Saks’ shareholders, but, assuming they approve, should be concluded by the end of the year. Saks had sales of $3.2 billion in 2012, against sales of $4.1 billion for Hudson’s Bay.

The buyout will merge three big names in retail, featuring luxury, mid-tier, and outlet sectors. The company will have roughly 320 stores, including 179 department stores, 72 outlets, and 69 home stores in the U.S. and Canada. 

‘‘We are excited about what this opportunity and being part of a much larger enterprise can mean for the future of the Saks Fifth Avenue brand,’’ Saks Chairman and CEO Steve Sadove said in a statement.

Saks will continue to be run as a separate company, based in New York City, with its own merchandizing, marketing, and store operations.

Hudson’s Bay said that it plans to combine back office facilities and distribution centers to save around $100 million in annual operating costs. It will also look at possible options for the company’s real estate portfolio, which will include a long list of prime retail locations.

Saks Fifth Avenue is a destination store for travelers from around the world because of its sophisticated portfolio of international designers. In allowing management to stay on and not merging operations, Hudson’s Bay hopes to preserve the design base that has built the Saks brand.

The company now has a 40-day period to seek out third party bids, which could lead to a leveraged buyout. As a result of the risk of debt acquisition, Fitch Ratings placed Saks Inc. on “rating watch negative.” It expects to upgrade the rating once the Hudson’s Bay deal is completed.

Read latest textile news, Apparel & Soft Goods Industries updates. Subscribe today & get latest information.

Resource URL: https://www.sourcingjournalonline.com/saks-inc-to-sell-for-2-4-billion/

Apparel Powerhouse Launches New Contender For Best Base Layer

The Team that brought Polartec^® (fleece) to the world market place is now launching a new brand of high-performance base layer apparel. This new brand is poised to capture the attention of eco-conscious consumers across a broad spectrum, from outdoor enthusiasts to fashion-forward trend setters.

The Brand is called Komafram, which means ” To Bring Forward”, and its CEO is Danny Feuerstein. Komafram is in partnership with Ambassador Enterprises, a for-profit philanthropic equity firm committed to investing in leaders and the organizations they lead. Komafram aspires to the inspirational model of Danny’s father, Aaron Feuerstein, the former owner and CEO of Malden Mills Industries — and Founder of Komafram. In terms of corporate responsibility, Aaron has set a high standard of commitment to employees, and living by the mantra of doing the right thing, in the right way, for the right reasons. Innovation, performance and style, combined with high ethical standards are what Komafram is all about. 

Komafram: Where Luxury Meets Performance

Komafram is designed for outdoor enthusiasts who want apparel that aligns peak performance with superior comfort and style. Komafram feels better, wears better and looks better than other base layers—and it delivers an unprecedented performance. Its alpaca based fiber blends are generating lightweight, luxurious, and durable odor-free fabrics. In essence, Komafram combines an exceptionally soft, next-to-skin “feel”, with outstanding thermal regulation and moisture management. For every climate extreme, from desert heat to winter cold, Komafram offers exceptional performance.

For more detailed check Resource URL: https://www.sourcingjournalonline.com/press-release-apparel-powerhouse-launches-new-contender-for-best-base-layer/

Cash-Strapped Teens Bad News for Retail

Teen shoppers have become key target demographic for retailers, bad news since they have been disproportionately affected by general economic malaise. Experts are worried that sluggish back-to-school sales augur poor performance not just by the retail sector, but the global economy at large.

[ Check complete story on textile retail news @ sourcing journal ]