A new face on the block; en garde: a very different cosmetics retailer is coming
Article Abstract:
Sephora, a unit of LVMH Moet Hennessy Louis Vuitton, is poised to open its first American store in New York. The independent cosmetic retail store adopts a completely different view to cosmetic retail than that of department stores. Instead of a push to sell entire lines of products by the same company, Sephora mingles brand names, separating their merchandise by beauty product; mud masks by Estee Lauder and Lancome will be placed next to each other. This opens up a market where several top players dominate. Department stores wait anxiously to see whether or not the cosmetic store, which has 10% of the market share in France, will meet the same kind of success in the US.
Comment:
Sephora, a French cosmetic store using unconventional cosmetic retail techniques, opens up first US store
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Saks 5th Ave. is said to be up for sale
Article Abstract:
Investcorp International is said to be planning to sell Saks Fifth Avenue, one of the most renowned names in the retail industry. Investcorp has made habit of buying upscale retail stores, providing them with capital, and then selling them in the public market or to private investors. Saks, bought by Investicorp for $1.6 billion in 1990, could sell for between $2 to $2.5 billion dollars. The company is healthy, but has perceived a weakness in merchandising management. The company has also experienced poor sales in lower-priced apparel.
Comment:
Investcorp is said to plan to sell Saks for between $2 and $2.5 billion
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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A southern buyer will acquire Saks
Article Abstract:
Saks Fifth Avenue will be acquired by Proffitt's Inc. for $2.1 billion. The deal will combine two disparate fashion retailers. Proffitt's serves middle income shoppers in the South and Midwest. Many brands Proffitt's specializes in were evicted from Saks to give the retailer a tonier image. Proffitt's says that there is no merchandising synergy in the deal, but it will save on purchases of paper supplies, transportation and telecomunications. Proffitt's Inc. will change it's name to Saks Inc.
Comment:
Saks will be acquired by Proffitt's Inc. for $2.1 billion
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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