Blog: Hudson's Bay heads upscale with Saks
Leonie Barrie | 5 August 2013
A $2.9bn deal that brings together the Hudson's Bay, Lord & Taylor and Saks Fifth Avenue brands into a combined company with 320 stores in the US and Canada was finally confirmed last week after months of speculation.
But the acquisition of US luxury retailer Saks by Canadian department store retailer Hudson's Bay Company garnered a mixed reaction from analysts - with one saying it "undervalues" the shares while another describing it as a "compelling" offer.
Change is also afoot at apparel giant PVH Corp, which has set out a transition process that will see two of its top executives - Fred Gehring and Paul Murry - step into reduced roles in around three years' time. Gehring is currently CEO of Tommy Hilfiger Group and CEO of international operations at PVH, while Murry is CEO of the Calvin Klein business.
Around 80 mainly European brands and retailers who have signed up to the Accord on Fire and Safety in Bangladesh are now starting to look at the scale of the issues they face in rolling out the scheme. Meetings with Bangladeshi stakeholders last week focused on the practicalities of improving safety in the country's ready-made garment industry.
The use of mobile phones to monitor labour abuses in apparel-making countries - including Bangladesh - is emerging as an accelerating trend this year, as brands and retailers come under increasing pressure to be more accountable for their supply chains. We look at two programmes being used by Marks & Spencer and Wal-Mart.
And new figures suggest cotton prices will rise in 2013/14, due to the expected tightening of stocks outside of China. The forecast comes despite predictions that cotton stocks are set to reach a new high at the end of the season.
In its drive to become more ethical and environmentally-friendly, the fashion and textile industry is facing numerous challenges and opportunities. In this month's management briefing, just-style looks at how firms are seeking sustainable options such as eco-labels and closed loop supply chains, as well as acting to reduce their toxic chemical use.
Meanwhile, Eastern Europe was one of the world's biggest opportunities for apparel retailers in 2012. But despite the region's overall glowing prospects compared to its Western European counterpart, there is a marked contrast between fast-growing Russia and Ukraine and all other markets.
Confirmation that digital supply chains are top of mind for apparel industry executives came last week with the latest plans from global sourcing specialist Li & Fung....
As a barometer of the issues top of mind for apparel sourcing executives, it is hard to beat the annual Prime Source Forum in Hong Kong. ...
Over the past month, Donald Trump and his team failed to offer any clear plan to ensure Americans would "Buy American, Hire American" - while the British government's attempts to clarify the specifics...
The Bangladesh government was forced to respond late last week to pressure over its crackdown on labour activists after a number of global brands and retailers, including H&M and Inditex announced pla...
- Rana Plaza four years on – Timeline of change
- Using worker surveys to drive supply chain change
- Trump and Brexit get a dose of pragmatism
- Where does VF supply chain sit in growth strategy?
- No US rush to Myanmar despite end to sanctions
- Inditex, Adidas and Patagonia top ethical report
- Calls for supply chain transparency standard
- Amazon wins on-demand apparel manufacturing patent
- Driving ban intensifies Myanmar logistics hurdles
- US textile industry applauds Trump executive order
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Myanmar - ISA Country Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts