I know it’s been a while since we talked about noteworthy retail news- so let's dive in...
Tiffany & Co. hired a new CEO, Allessandro Bogliolo, who previously worked for Diesel and Bulgari. This is significant given the company’s declining sales, which are driven by an unenthusiastic younger demographic. Tiffany’s goal for the past couple years has been to shift the consumer mindset and make the brand feel cool again. And despite Lady Gaga as it’s spokesperson, traffic patterns and sales haven't increased. Bringing in Bogliolo will definitely shake things up, and I am excited to see how they re-invent such a historic, timeless brand.
I am not sure if you remember, but months ago we talked about a new concept from the TJ Maxx / Home Goods team and it officially has a name: Homesense. Launching in Framingham, MA on August 17, the store will have an extended large-scale furniture section, lighting, art, and a general store. The company is confident that Homesense will be the perfect addition to their home décor fleet, providing consumers with quality merchandise at great prices. I, personally, am excited to see a retailer opening new brick & morter locations and look forward to seeing how it differentiates from their successful, proven concepts.
LLBean is re-branding for back-to-school. They decided to focus less on their catalog and more on broadcast to attract additional customers. The website and commercials will be showcasing the “Be an Outsider” campaign, embracing the outdoors and showcasing that bit of adventure in all of us. I watched a couple of the commercials and it definitely made me think a bit differently. It made me consider shopping them for my boys vs. me and my husband. I tend to be a bit old-school (as you know) and tend to see LL Bean as stacks of flannels, signature boots, and preppy canvas totes- but this made me (as a mom) shift gears. They are currently running 20% off their kid’s clothing- so if you have time, please take a peek and let me know your thoughts.
Next up is Alfred Angelo Bridal- knowing this story broke hearts all around the country. Last Thursday, all 61 stores closed (without warning) with several paid-for bridal gowns still inside. The company did file for bankruptcy, but as of now the majority of customers have not received their dresses or been provided with next-step information. The lawyer handling the case has received over 7000 emails and there seems to be no hope in sight for any bride-to-be outside of Tula, Oklahoma. The employees there, however, opened the shop on their own and have been shipping out the paid dresses. Here's hoping they didn't get into any trouble, and I applaud them for trying to do right by the customer.
Lastly, and I am sure you all know this- but the Nordstrom Anniversary Sale has been EVERYWHERE via social media and ends August 6th. There are some amazing deals, as always, from our favorite brands. Make sure you check it out!
Hopefully I provided you a bit of insight into our favorite industry. If you have any questions or feel I missed a significant article, please let me know. Have a wonderful Friday everyone...