Saks Fifth Avenue, Coach and Kate Spade partner Tulip raised $40 million in funding led by Kleiner Perkins. The mobile app provider plans to put its funding towards international expansion and innovation.
Hudson’s Bay Co, owner of the Saks Fifth Avenue and Lord & Taylor retail chains, plans to review its options including going private following pressure from an activist shareholder, people familiar with the matter said.
London’s Bond Street is becoming a home for ultra-luxury brands with fewer affordable luxury/premium labels having stores there, a new report shows. And stores due this year will push the ultra-luxe edge even higher.
Don Watros, who has spent 11 years with HBC, will part ways with the company on September 29, 2017. The announcement of his departure comes one day after HBC moved up the opening date of its Netherlands location.
Hudson's Bay will open its first store in the Netherlands on September 5 instead of September 19 as originally planned. The range will be younger and more fashion forward than that of its sister retailer Galeria Kaufhof.
Ralph Lauren Corp reported better-than-expected quarterly results and said it would pull back more inventory from department stores as it tries to keep a tight leash on discounting under its new Chief Executive.