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Tag: International

  • Adidas Settles for $8 Million in Rockport Dispute

    Adidas Settles for $8 Million in Rockport Dispute

    German-headquartered Adidas AG has agreed to a settlement in its Rockport bankruptcy dispute.

    Adidas bought Rockport as part of its takeover of Reebok in 2005 and sold the brand a decade later.

    Rockport was placed in Chapter 11 bankruptcy protection in May of this year, and in July a rescue plan was lodged by CB Marathon, an affiliate of Charlesbank Capital Partners, to take over the ailing business.

    However Adidas and Reebok challenged that, lodging a claim for more than $70 million to recover unsecured claims from Rockport.

    According to a news, Adidas agreed to a payout of $8 million from its $54 claim, a settlement approved by a Delaware bankruptcy judge on Monday, clearing the way for the same to CB Marathon, subject to final approval from the courts.

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  • 50th Anniversary Of Big Mac Marked With Coin Currency

    50th Anniversary Of Big Mac Marked With Coin Currency

    McDonald’s has minted a coin in more than 50 countries to mark the 50th birthday of the Big Mac.

    Called the MacCoin, it will be released tomorrow, August 2, and while it has no real value, it can be exchanged at restaurants for a Big Mac until the end of this year. Many are likely to be retained by collectors.

    The fast-food company has had 6.2 million MacCoins pressed, in five designs each reflecting a decade in the life of the Big Mac:

    • The 1970s, showcasing the decade’s flower power.
    • The 1980s alluding to pop art.
    • The 1990s defined with bold, abstract shapes.
    • The early 2000s specifically focusing on the technology that was at the forefront of the turn of the century.
    • The 2010s MacCoin calling attention to the evolution of communication.

    The seven languages featured on the front-side of the MacCoin – Arabic, English, Indonesian, Mandarin, Portuguese, French and Spanish – represent many of the countries participating.

    Coins can be earned by entering contests via social media channel Twitter and other means depending on the market – they’re not being distributed from restaurants or used as change in stores.

    The MacCoin was inspired by The Economist’s Big Mac Index, which is the publishing house’s measure of global spending power (comparing, each year, the price of a Big Mac in many international markets, converting them to a common base currency).

    “As one of the most well-known and iconic McDonald’s menu items – and business driver – around the globe, the Big Mac deserves the celebration that the coin evokes,” says Jeff McLean, CFO at McDonald’s Canada. “The fact that in 50 years, the Big Mac has become so universally recognised it’s used to measure the purchasing power of international currencies is pretty remarkable.”

    Nick Delligatti, fourth-generation McDonald’s owner-operator and great-grandson of Jim Delligatti, the inventor of the Big Mac, said, “When my great-grandfather Jim Delligatti invented the Big Mac at his grill in Uniontown, Pennsylvania, he just wanted to make his local customers happy. August 2 would have been my great-grandfather’s 100th birthday, and I believe he would be very proud knowing his humble sandwich has made such a lasting impression that people all around the world can enjoy it wherever they find a McDonald’s.”

    Originally sold for just 45 cents, the Big Mac is now available in more than 100 countries.

  • Channeling Artificial Intelligence in beauty

    Channeling Artificial Intelligence in beauty

    Since time immemorial women have been using various aids to enhance their beauty. Between the ancient times and the advancement of scientific techniques, we have seen the phenomenal growth of the beauty and cosmetics business. We have seen the modernisation of beauty treatments from ancient Egypt to the present day. We have also seen and experienced the heights of product innovations, using research and development of cosmetic techniques. New ingredients are being researched and used and then promoted as the next best beauty discovery. Even ingredients from ancient texts are being combined with scientific techniques to formulate beauty products. Each product claims to be better than the previous one.

    We have also been through basic customised beauty care, formulating products for different skin and hair types. Even here, there is a kind of generalisation and the theory of ‘different skin types’ does not take into account the many differences there are between one individual and the other. Through these years, branding has become important. The customer starts believing that using a certain branded product will make her look like the brand’s ambassador. Actually, the product she uses has not really taken into account her personal characteristics and features. But, Artificial Intelligence is changing all of this.

    What is Artificial Intelligence? Actually intelligence itself is difficult to define, so one can imagine how complex the concept of Artificial Intelligence must be! In fact, the definition itself has undergone changes, since the developments have been so rapid. The basic and simple definition refers to ‘machine that imitate human behaviour’. However, this is too simple a definition, because a machine maybe made in a way that it imitates human behaviour, but can it imitate human intelligence? Experts say that computer programmes can be made to imitate human behaviour, but the programme must be such that it ‘must be able to do many different things in order to be called intelligent’.

    As far as Beauty is concerned, programming has helped to prepare a database that can take many individual characteristics into account, so that it is possible to manufacture a product that is specifically meant for an individual, rather than conforming to broader specifications of ‘skin types’. Advances in technology can help to further machine learning with Artificial Intelligence, so that it becomes possible to find a custom made product for each individual.

    When I started my first herbal salon, more than four decades ago, I followed the principle of customised beauty care, at the client card level. The details of the individual client would be noted down in the Client Card. Apart from the basic, details of allergies, history and past treatments would also be noted down. In a way, we were preparing a data base. But, now with computer programming, it is possible to create an immense data base, with more detail. The customer herself can refer to the virtual card and refer to it while searching for a custom based product.

    There are beauty brands abroad, who are adopting Artificial Intelligence to create personalised products that are specifically tailored for customers. The ‘search’ for products will also have to be detailed and specific, so that the customer can make the connection among the different categories of products, ingredients, the different key words in order to select the best suited product. Most online retailing outlets do have ‘chats’ where the customer can be helped to find the products best suited. However, machines will have to be programmed to take many other distinctions into account, like geographical location, climate, skin colour, ethnic background, and so on.

    With the help of Artificial Intelligence, the customer may be able to find a skin profile that is totally personalised and unique, so much so that it may not fit any other person. If such detailed data is taken into account by product developers, it maybe possible to make similar products, with or without a particular ingredient, which is suited to one, but not to the other. In fact, one can consider including the medical aspect to find solutions for skin problems. Medical professionals or pharmacists may also be involved to work out the different aspects of the programming.

    It seems the possibilities are limitless with further development of technology. But, I still feel that at some point, the human factor must come in. For instance, only a human being can say whether a particular product feels good or not, whether it really does all that it promises to do. We cannot rely totally on machines and Artificial Intelligence.

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  • A US$1 Million post – Instagram’s most paid celebrities

    A US$1 Million post – Instagram’s most paid celebrities

    After having its net worth valued at US$900 million by Forbes earlier this July, Kylie Jenner has now become the world’s most paid Instagram celebrity according to HopperHQ.com’s Instagram Rich List 2018.

    The annual ranking reveals which celebrities, athletes, models and influencers generate the most revenue from posting on the famous social media platform.

    Estimated at $400,000 in 2017, the youngest of the Jenner-Kardashian clan now reaps $1 million per sponsored post that she shares with her 111 million Instagram followers.

    With her 139 million followers, Selena Gomez trails in second at $800,000 per post despite having more followers.

    Surprisingly, Kim Kardashian and Beyoncé are relinquished to the 4th and 5th spot as famous football player Cristiano Ronaldo takes the 3rd position; earning roughly $750,000 per post.

    Discover the top 10 below:

    1. Kylie Jenner — $1,000,000 per post
    2. Selena Gomez — $800,000 per post
    3. Cristiano Ronaldo — $750,000 per post
    4. Kim Kardashian — $720,000 per post
    5. Beyoncé Knowles — $700,000 per post
    6. Dwayne Johnson — $650,000 per post
    7. Justin Bieber — $630,000 per post
    8. Neymar da Silva Santos Junior — $600,000 per post
    9. Lionel Messi — $500,000 per post
    10. Kendall Jenner — $500,000 per post

     

  • BMW to sell Fossil designed branded watches

    BMW to sell Fossil designed branded watches

    Fossil Group has signed a global licensing agreement with BMW to design, develop and distribute BMW-branded watches and smartwatches until 2023.

    “BMW is one of the most iconic brands in the world,” said Fossil Group chairman and CEO Kosta Kartsotis. “We look forward to bringing our watch design expertise and smartwatch capabilities to BMW enthusiasts around the world.”

    The first collection of BMW-branded watches designed by Fossil will go on sale next year after a collaboration by designers from the two companies.

    The collections will be sold globally in more than 4000 BMW retail channels and key retailers in Fossil Group’s global network.

    Fossil Group already has design partnerships with licensed brands including Armani Exchange, Chaps, Diesel, DKNY, Emporio Armani, Kate Spade New York, Marc Jacobs, Michael Kors, Puma and Tory Burch.

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  • Apple Piazza Liberty now open in Milan

    Apple Piazza Liberty now open in Milan

    Apple Piazza Liberty has opened in Milan, the latest significant global flagship for the tech retailer.

    The store is an ensemble of two fundamental elements: a stepped plaza and a fountain. Located just off the Corso Vittorio Emanuele – one of the most popular pedestrian streets in Milan – visitors are drawn towards the piazza by the sight of the dramatic new fountain.

    Designed by London-based Foster + Partners, which has an ongoing relationship with Apple to design flagships globally, the store is described as “a celebration of the joys of city life” and embodying Milan’s dynamic nature with a signature water feature which is an “interactive, multisensory experience”.

    Visitors enter the fountain through a glass-covered entrance enveloped by the sights and sounds of vertical jets of water that splash against the 26-foot (8-metre) high glass walls.

    A Foster + Partners spokesperson likens the experience as “an immersive recreation of the childhood game of running through fountains” with an experience which changes throughout the day as sunlight filters through the water. At night, the glass ceiling creates a kaleidoscopic effect, with the water falling down the walls, its reflections travelling infinitely up into the sky.

    The fountain flows down into the base of the amphitheatre, a new social hub and an outdoor extension of ‘Today at Apple’. The amphitheatre is defined by broad and sun-soaked stone steps descending below street level and opening up to a stage, backed by a second fountain’s wall of water. The entire plaza is newly created and paved with Beola Grigia – a typical local stone from Lombardy, and surrounded by 21 new Gleditsia Sunburst trees.

    “The interior is a bright, monolithic space, metaphorically carved out of the same stone as the plaza above,” says Foster + Partners. “The ceiling follows the stepped profile of the amphitheatre, with skylights and backlit ceiling panels that innovatively combine artificial and natural light. Through the roof and stairs, warm shafts of sun penetrate deep into the sunken store, connecting the interior with the light and rhythm of Milan and giving it a feel of a spacious daylight-filled art gallery.”

    The stairs leading into the store consist of polished stainless-steel clad cantilevering treads that also become a sculptural light installation, the designers say creates a theatrical and exciting experience.

    View the full gallery below (7 images) :

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  • Tesco set to open new discount Jack’s store to rival Lidl and Aldi

    Tesco set to open new discount Jack’s store to rival Lidl and Aldi

    British supermarket operator Tesco is set to unveil a new network of Jack’s stores: a budget grocery concept it hopes will take the fight directly to German discounters Aldi and Lidl.

    While the company has not made an official announcement, sources are reporting details leaked from multiple sources.

    In the first phase of a roll-out program, Tesco plans to open 60 Jack’s stores, initially in main cities. A Liverpool outlet will reportedly open its doors within five weeks and staff are being recruited for at least another three stores, suggesting an opening is imminent.

    A source revealed the chain will be called Jack’s and advertisements for staff refer to small teams in a new company that is operationally independent of Tesco.

    Analysts suggest Tesco will be able to use its recently acquired wholesaler Booker to help supply stores and Jack’s limited range and compact footprint would differentiate it from full-service Tesco stores with large product ranges and Booker’s cash-and-carry model which primarily targets business and the foodservice sector, selling in bulk.

    Some media have quoted inside sources saying the designs of Jack’s stores show “striking similarities” with Belgian chain Colruyt.

    Tesco trialled a discount format called Victor Value in the 1908s, but scrapped the concept after four years, fearing it would cannibalise sales of its main network. But in today’s UK grocery market with Aldi and Lidl already accounting for 13 per cent of the British grocery market and achieving year-on-year sales growth around 8 per cent, cannibalisation is less of a concern than losing sales to rival chains.

  • McDonald’s growth in second quarter is not “satisfying”

    McDonald’s growth in second quarter is not “satisfying”

    McDonald’s Corporation has announced results for its second quarter, seeing consolidated revenues decrease by 12 per cent, pinned on the impact of the company’s strategic refranchising initiative.

    Little mention was made of McDonald’s Asian performance for the quarter, other than an acknowledgement of undefined “continued challenges” in South Korea.

    The fast-food giant found system wide sales increased by 5 per cent, while global comparable sales increased by 4 per cent, reflecting positive comparable sales in all segments.

    “We’re seeing good performance across our business as our customers tell us that they value and appreciate the moves we’re making to elevate the McDonald’s experience,” said McDonald’s president and CEO Steve Easterbrook.

    “We’ve now marked 12 consecutive quarters of positive comparable sales, and we are confident that we’re executing the right strategy to achieve long-term, profitable growth.”

    Comparable sales for the International Lead segment segment increased 4.9 per cent for the quarter, while operating income increased 15 per cent, primarily driven by progress in the UK and France, while comparable sales in the US increased 2.6 per cent.

    Neil Saunders, managing director of GlobalData Retail, notes that although revenue growth has softened over the past year this quarters results represent a positive outcome for the restaurant company; suggesting growth in the US and beyond.

    “Part of McDonald’s success comes from the fact it is attracting a wider mix of customers into its restaurants,” said Saunders.

    “This is, in large part, a consequence of the modernization program the company has been undertaking. With around 1,000 restaurants refurbished each quarter, there has been a positive step change in customer perception, especially among older consumer segments.

    According to Saunders, these changes have been cemented by initiatives to improve quality, such as the use of fresh rather than frozen beef; leading McDonald’s to become a destination more diners are prepared to visit and linger in.

    “McDonald’s will come up against some tough prior year comparatives,” notes Saunders, “[which] means growth continues to soften. However, so long as menu innovation continues, we believe the chain will continue to be a winner in the fast food space.”

    Not all is well at the restaurant chain, however, with a pair of McDonald’s workers taking it upon themselves to restrain, and attack, a customer who attempted to fill a water cup with soda, and then provoked the employees when they turned off the machine to prevent it.

    A video of the altercation was posted to social media, with many fearing for the employee’s jobs after the way they reacted to the customer’s provocations.

    The company has yet to release a statement regarding the incident.

  • H&M introduces interactive mirrors in US stores

    H&M introduces interactive mirrors in US stores

    Swedish clothing brand H&M has introduced an interactive mirror with speech and face recognition features that kicks into gear automatically as a customer walks up to it. It has been developed by Microsoft.

    The mirror is programmed to take selfies if directed and interact with customers.

    “For starters, you can talk to it and it’ll talk back. Ask it to take a selfie, for example, and it will happily oblige, capturing your graceful pose before immortalising your beauty on the front cover of a virtual fashion magazine,” Microsoft said in a blog post.

    The mirror, designed for H&M’s flagship store at Times Square in New York, can provide fashion advice and allow QR code scanning for discounts, offers, automated shopping lists and newsletter subscription options.

    “With the interactive mirror, we want to showcase new opportunities for voice assistants and inspire how to interact with their customers in a creative, modern and fun way,” said Linda Pimmeshofer, Business Developer at Microsoft.

    The mirror has been created using Cloud computing platform Microsoft Azure.

    “We are delighted with our collaboration with Microsoft, where we learn how fashion and technology create new ways of interacting with customers,” said Daniel Kulle, President, H&M North America.

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  • Amazon Q2 profit jumped high

    Amazon Q2 profit jumped high

    Online giant Amazon has released its financial results for its second quarter ending June 30, with net income for the quarter increasing from US$197 million to US$2.5 billion; a 1,186 per cent increase.

    Additionally, the company found an operating income increase of 375 per cent, from US$628 million to US$3 billion.

    The company notes quarterly highlights relating to product launches, such as Fire TV Edition smart TVs released in Best Buy, as well as the integration of Alexa into many of its existing products, such as Fire HD 8 and 10 tablets, and external products such as vehicles from BMW, Ford and Toyota.

    “Despite its enormous size and previous run of strong growth, Amazon has had no problem in delivering another good set of numbers,” said Neil Saunders, managing director of GlobalData Retail.

    “It’s strong revenue growth, which saw product sales up by almost 30 per cent over the prior year, underlines its growing grip on the retail market and its ability to persuade an increasing number of customers to buy an increasing array of things from it.”

    Saunders notes that while the company makes growth look easy, the results are indicative of significant efforts on at least three fronts.

    “Firstly, it innovates and tries new things like no other retailer… other retailers would do well to take a leaf out of Amazon’s playbook on this front,” he said.

    “Second, across all of the things it tries and tests, Amazon is extremely customer-centric. It rarely innovates by increments, but instead looks to find problems consumers face and then uses technology in creative ways to help solve them.

    “Third, Amazon has created a compelling ecosystem which permeates many aspects of people’s lives.”

    Looking forward to the third quarter, the company expects net sales to be between US54 – 57.5 billion, a growth of 23 to 31 per cent over last years Q3, while operating income is expected to reach between US$1.4 to $2.4 billion, compared with US$347 million.

    In Australia, the company’s recent Prime Day promotion drove record traffic to its Australian marketplace, leading to the two biggest days of sales since the e-commerce giant launched in Australia.

    “Prime only recently launched in Australia yet we were thrilled to see the number of Australian members visiting amazon.com.au to make the most of the great savings available to them on Prime Day,” said Rocco Braeuniger, Amazon Australia’s country manager.

    Small and medium businesses, which make up the majority of sellers on Amazon’s global marketplaces, had already exceeded more than $1 billion in sales just 10 hours into the sale.

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  • Sephora top executive named CEO of Lululemon

    Sephora top executive named CEO of Lululemon

    Calvin McDonald has been named CEO of Lululemon, replacing Laurent Potdevin, who was ousted earlier this year amid allegations of conduct violations.

    The Canadian-born McDonald earned his MBA at the University of Toronto and prior to joining Sephora in 2013, he spent two years as president and CEO of Sears Canada and 17 years in various roles with Loblaw Companies Ltd.

    Vancouver-based clothing company Lululemon’s stock jumped almost 80 percent in the past year. Analysts say it is one of the bright spots in apparel retail and in May, despite having no CEO, the firm reported a net revenue rise of 23 percent from the previous year, to $649.7 million in the first quarter.

    “I’m joining lululemon at an exciting time, with the brand’s strong business momentum, guest loyalty and passionate employees,” McDonald said in a statement.

    McDonald helped Sephora become a “mobile-first” brand during his time there, and he is expected to bring the same mindset and focus to Lululemon.

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  • Top 10 largest apparel companies worldwide in 2018

    Top 10 largest apparel companies worldwide in 2018

    Forbes has released the 16th annual Forbes Global 2000 edition which lists the top 10 largest apparel retail companies in the world. The list includes publicly-traded companies from 60 countries and has been complied using data from FactSet

    Research systems to screen for the biggest public companies in four metric: sales, profits, assets and market value. We bring you Forbes ‘World’s Top 10 Largest Apparel Companies’

    View the top list below :

  • Ivanka Trump clothing stop operation

    Ivanka Trump clothing stop operation

    Ivanka Trump is closing down her fashion brand, reflecting a lack of time to devote to the business and the political challenges the company faces.

    A statement on the brand’s Facebook page thanked customers of bring part of the journey.

    “It has been an honor to build this incredible community of women and we are very proud of the content and product we delivered,” the statement reads.

    “Most importantly, we cultivated amazing partnerships and friendships during the life of the brand.”

    Major US retailers including Marshall’s, Nordstrom and TJ Maxx have already removed her clothing and accessories from their shelves.

    Neil Saunders, managing director of GlobalData Retail noted that while the brand will disappear in the short term, the copyrights and intellectual property would be retained, leaving the door open for a potential relaunch in the future.

    “Ms. Trump was always closely associated with the brand but her current responsibilities mean she has had to take a back seat,” said Saunders.

    “This lack of control is likely uncomfortable when the label bears her name and is largely seen as an extension of her personal brand.

    “The close association is also the reason for the various political challenges. Views on the brand have become highly polarized and it has become a lightning rod for protests and boycotts. While the company is still viable, doing business has become far more challenging and these problems will only increase.”

    According to the New York Times, The brand’s headquarters were nestled in Trump Tower in Manhattan, and Ms Trump initially relied on human resources, technology and legal support from her father’s real estate company to get started. “In later years, she aspired to turn the label into a full-fledged lifestyle brand, recruiting executives from major fashion companies to help. Yet the company remained mostly a licensing business, making deals with manufacturers who paid to use the Ivanka Trump name.”

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  • Roberto Cavalli opens first flagship store in Germany

    Roberto Cavalli opens first flagship store in Germany

    Roberto Cavalli has opened a sleek and luxurious 2,475 sq ft flagship in Berlin’s Charlottenburg district, inspired by Florence’s Renaissance architecture and the rich tones of Tuscany.

    The concept of the store has been created by the luxury brand’s creative director, Paul Surridge. He worked with Milan-based interior firm Rodrigo Izquierdo Design Studio on the store concept.

    The airy chic flagship store is designed to welcome customers into a charming space where easily discover the brand’s full range of women’s and men’s collections, bags, shoes, fashion jewelry and accessories, eyewear, fragrances and watches next to a selection of home accessories.

    Surridge has combined precious marble floors and elegant vaulted ceilings, classic geometric shapes with brass, leather, marble and noble woods to echo the sumptuous atmosphere of a Florentine palazzo. The center of each room is highlighted by a group of three cylindrical gold pendant lamps.

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  • Nike to rise salary of its employees

    Nike to rise salary of its employees

    After an internal review of the company’s pay structure, Nike has decided to increase the salaries of about 7,400 employees globally. 

    Ten per cent of the company’s workforce, across all job levels, will have their pay adjusted starting next month said Nike spokeswoman Illana Finlay in a statement on Monday. These changes are aimed to keep Nike salaries competitive within their industry, and “support a culture in which employees feel included and empowered.”

    The review comes at a time in which Nike’s HR policy is in the spotlight with several executive-level resignations, including president Trevor Edwards, in which Nike flagged “conduct inconsistent with Nike’s core values and against our code of conduct,” though there were no direct allegations of misconduct against Edwards.

    At the time, Nike’s human resources chief Monique Matheson noted the company had “failed” in promoting and hiring women and other senior-level positions.

    “While we’ve spoken about this many times, and tried different ways to achieve change, we have failed to gain traction,” said Matheson.

    “Our hiring and promotion decisions are not changing senior-level representation as quickly as we have wanted.”

    Deloitte LLP managing principal and vice chairman Cathleen Benko was recently appointed to the company’s board of directors, bringing experience leading an award-winning women’s initiative and broader inclusion focus at Deloitte.

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