| Global retail industry news |  |
- Prada leader continues to go her own way
Miuccia Prada has been known for having a rebellious bent, and her push to launch an initial public offering of the eponymous Italian fashion house in Hong Kong rather than Milan is just the latest example. "I always wanted to be different. I always wanted to be first," she said. Prada expects the Hong Kong IPO to help the company by exposing her management team to another culture and bolstering the firm's position in Asia. The Wall Street Journal (tiered subscription model) (13 Jun.)        | Ad Compliance Best Practices Kit — Stay ahead of consumer concern and government regulation with TRUSTe. Gain an overview of what Behavioral Advertising (OBA) is, why it is important, and what your options are. Insights from the FTC, DAA, TRUSTe, Forbes, Publisher's Clearing House and more. Register Now. |
 - Walker says Iceland Foods won't be broken up
Malcolm Walker, head of Iceland Foods, refuted speculation that the frozen food retailer might be broken up as the chain reported a 15% increase in annual profit. "Why would I sell? This is my job," Walker said. "The last thing that will happen is that the company will be broken up." Speculation had been mounting that grocers in the UK might be striving to buy Iceland Foods or parts of it after an auction was launched for a 67% stake in the company. Reuters (10 Jun.), Bloomberg (10 Jun.) - Kingfisher plans to bolster Castorama presence in Poland
Ian Cheshire, CEO at Kingfisher, said the company plans to significantly increase the number of Castorama stores in Poland. The company also will convert the country's Brico Depot trade outlets into Castorama shops. "We will continue to build stores because there's a lot of unoccupied market space," Cheshire said. "There's evidence of a more sophisticated, decorative and aspirational customer, so we can see top-line growth in that." Bloomberg (13 Jun.) - Life & Style enters administration
Life & Style, which has about 100 outlets, has entered administration, effectively for the third time in three years. "Life & Style has been brought to this situation through poor trading. We are currently looking at all aspects of the business, but with the exception of closures that the business had planned before it was put into administration, stores will remain open for the immediate future," said Simon Bonney, joint administrator. Telegraph (London) (10 Jun.)  | Three Trends Causing Paradigm Shifts in Online Retail
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 - Companies reposition themselves to cater to Chinese women
Italy's Bulgari, Maserati and other luxury goods companies have recently overhauled their marketing efforts to appeal to female entrepreneurs in China. "Many people are inclined to believe that gentlemen are generously purchasing luxury gifts for women in China, but our observation is that the great majority [of the buyers] are women who have achieved great success in their business and are now rewarding themselves with the finer things in life," said Christian Gobber, managing director of Maserati China. The Wall Street Journal (tiered subscription model) (13 Jun.) - Indian retailers reconsider private labels
Over the past few years, several retailers in India launched private labels to bolster profit margins and challenge established brands. However, some major retailers are now reining in their private-label plans. "We are rationalising our product portfolio and focusing on certain products and categories only," said Thomas Varghese, CEO at Aditya Birla Retail. The Economic Times (India) (13 Jun.) - Cantabil Retail India launches restructuring exercise
Cantabil Retail India, the Delhi-based apparel merchant, has started shutting down non-profitable stores, reining in its expansion plans and overhauling its discount program as part of a restructuring. Vijay Bansal, managing director at Cantabil, noted a 20% drop in sales over the past six or seven months. "So, instead of expanding aggressively, we are focusing on repositioning the brand and sustaining current profit margins," he said. The Economic Times (India) (13 Jun.)  | Discover what risks could be lurking in your vacant commercial property with Zurich's guide 'Empty building, full of risk: Protecting your vacant commercial properties'. Click here for your FREE download! |
 - Retailers need to prepare for mobile wallets, experts say
Industry experts are advising retailers to prepare for the introduction of mobile wallets and increased use of cloud computing. The ability of consumers to make purchases using their mobile phones has been in the works for some time, but it is now starting to gain traction. James Dion, a retail technology consultant, notes that debit cards were rapidly adopted, and he expects mobile wallets to follow a similar pattern. InternationalSupermarketNews.com (U.K.) (12 Jun.)  | FedEx SmartPost Returns is an ideal way for businesses with over 100 daily returns to provide a convenient returns method for low-weight residential packages. It's a cost-effective, reliable solution that utilizes the strength of the FedEx® network and the U.S. Postal Service®. Learn more.
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 | Spotlight on Mass Merchandise |  | | | - 99p Stores becomes surprise hit as affluent consumers seek deals
The owners of 99p Stores are searching for sites in Windsor and other British towns as the company strives to capitalise on its increased popularity among wealthier consumers. The retailer recently reported a surge in annual profits and sales. Faisal Lalani, buying director at 99p Stores, explained that the company has shifted its site selection a bit as more affluent shoppers take to its offerings. Telegraph (London) (11 Jun.) | NRF News | | | | - LP '11: Join the conversation
NRF's 2011 Loss Prevention Conference & EXPO kicked off Sunday, and the conversation is happening on Twitter. Learn what people are saying about featured speakers, breakout sessions, EXPO demos and more using hashtag #nrfLP11, or follow @nrfnews to get live updates throughout the conference. Learn more.
| SmartQuote | | | |  | Submission to what people call their 'lot' is simply ignoble. If your lot makes you cry and be wretched, get rid of it and take another."
--Elizabeth von Arnim,
New Zealand-born British novelist  |
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