Gap has struck a deal with Zalando, Europe's largest dedicated online fashion retailer, to sell its core brand starting next May in the hopes of reaching more consumers, particularly in markets where it has no physical stores. Gap already delivers to 24 European countries from its own website and has more than 200 stores on the continent, but is not present on the ground in key markets such as Germany. Berlin-based Zalando started out selling shoes in 2008 and now ships 1,500 brands to customers in 15 European countries.
Coca-Cola agreed to buy a 10 percent stake in Green Mountain Coffee Roasters for about $1.25 billion, and will work with the maker of Keurig coffee brewers to introduce a system for producing single-serve cold drinks. Teaming up with Green Mountain on new beverages will help Atlanta-based Coca-Cola boost sales, said Marc Riddick, an analyst at Williams Capital Group LP in New York.
Kellwood Company, a leading apparel manufacturer and marketer owned by an affiliate of Sun Capital Partners Inc., today announced the appointment of Jill Granoff as CEO. Granoff brings a vast knowledge of the fashion industry and retailing to the position with over 20 years of brand building and executive leadership experience. As CEO, Granoff will be responsible for the overall growth and direction of Kellwood's diversified portfolio of brands, including Vince, Rebecca Taylor, David Meister, BLK DNM, Zobha, Lamb & Flag, Baby Phat, Phat Farm, Sag Harbor, Briggs NY, Jolt, My Michelle, and XOXO.
The merger between two Midwest-based general merchandise retail chains, Shopko and Pamida, is now complete, creating one of the largest U.S. retailers focused on serving smaller, rural communities.
FRANKFURT -- Swedish fashion retailer Hennes & Mauritz said Wednesday its third-quarter net profit rose to 4.24 billion Swedish kronor ($626 million) from SEK3.46 billion in the same period a year ago. Net sales increased 14% to SEK26.89 billion.