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| Global retail industry news |  |
- Fate of 86 Zellers stores is up in the air
Target made big news when it announced plans to enter Canada with the acquisition of all but 86 Zellers stores; now, mall owners, small towns and retailers are wondering what will become of the stores not taken. Zellers has long-term, low-rent leases on most of the spaces, taking the decision largely out of the hands of mall owners and small towns that want to redevelop the real estate for stores that would generate more revenue and new jobs. The Globe and Mail (Toronto) (17 Jan.)      - Former IKEA chief says chain should be split up
IKEA grappled with growing pains as the global retailer grew into a £20 billion company operating stores in 41 countries during the decade former CEO Anders Dahlvig was at the helm. Today, it makes sense to consider splitting the chain into three separate companies, said Dahlvig, who left the post in 2009. "I don't think there is a solution to [protecting] entrepreneurial thinking and creativity and independence when you are beyond a certain size of company." The Telegraph (London) (17 Jan.)  | Inventory Optimization for the Consumer Products Industry
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 - Tesco reverses course on vouchers
Tesco has returned to a money-off voucher strategy after losing holiday business to rivals including Sainsbury's, which saw success with its Brand Match strategy. Tesco has launched a national ad campaign that includes a £5-off voucher for shoppers who spend more than £40. Brand Republic (U.K.) (18 Jan.) - Tesco maps global expansion for F&F fashion brand: Tesco has unveiled a new franchise model that will allow the retailer to expand its F&F apparel brand internationally. The first franchisee is set to open F&F stores in Saudi Arabia later this year. Brand Republic (U.K.) (17 Jan.)
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 | Retail in Asia |  |  | | - Disney to open first stores in China this year
Disney will open its first store in China in 2012 and plans to launch up to 40 more in the next three years, the company said. "China is very important to overall Disney company plans, obviously with the launch of the Shanghai Disneyland Park," said Jim Fielding, president of Disney Stores Worldwide. China Daily (Beijing) (18 Jan.) | E-commerce Spotlight | | | | | Spotlight on Luxury Goods | | | | - Asian consumers continue to snap up luxury items
Luxury brands are finding enthusiastic consumers in the Asian market. The global luxury goods market grew by 10% last year, according to Bain and Co., and it's expected to keep growing as Japanese and Chinese consumers continue to spend. "Since the Chinese luxury market became relevant in 2003, when China started to account for more than 1 percent of luxury groups' sales, it has grown at rates above 30 percent without interruption," said HBSC's Erwan Rambourg. China Daily (Beijing) (16 Jan.) - Burberry bucks the trend with strong Q3 sales
Burberry's sales rose 21% in the third quarter of 2011, giving the London-based retailer a strong holiday season in spite of a downturn in the UK. Burberry's brand is strong among Asian consumers, and the retailer has been aggressively expanding its fleet of flagships in high-profile international cities that draw wealthy tourists as well as locals. The Wall Street Journal (17 Jan.), CNBC (17 Jan.) - Cartier grows with less-showy timepieces
Cartier is seeing success with the less-ostentatious luxury watches that wealthy consumers favor during tight economic times. "When you are in crisis periods you show off less and you have shapes that are more discreet and more ergonomic. The feel-guilty factor is very important," said CEO Bernard Fornas. Bloomberg (15 Jan.) - Italy's luxury brands are bullish on 2012
Italian luxury brands including Ermenegildo Zegna and Raffaele Caruso say they're optimistic about growth prospects in 2012, in spite of Europe's debt crisis. "We are trying our best to counterbalance a possible decline of European consumption with an increase of business derived from visitors," Zegna said. Bloomberg (16 Jan.) | NRF News | | | | - NRF forecasts U.S. retail industry sales growth of 3.4% in 2012
Though stubbornly high unemployment and continued uncertainty over the prospects for job growth will continue to dampen the outlook for U.S. industry retail sales growth in 2012, the nation's retail industry will still grow at a rate faster than many other industries. According to NRF, U.S. retail industry sales will rise 3.4% to $2.53 trillion in 2012 -- slightly lower than the pace of 2011, in which sales grew 4.7%. Read more.
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