Retail

Dubai / Emirates Business Rasasi Perfumes, one of the leading perfume brands in the Middle East, opened its doors to customers on Wednesday after officially opening its flagship store in City Centre Mirdif. Focusing on a superior customer experience, Rasasi have enhanced the store to create a relaxed and enjoyable environment for their customers. The gold and ivory colour palette ...

Bloomberg Ikea Group named Jesper Brodin, currently responsible for the development of the Swedish furniture retailer’s product range and supply chain, as chief executive officer after Peter Agnefjall decided to step down. Brodin, a 48-year old former assistant to Ikea founder Ingvar Kamprad who has worked at the maker of the Billy bookcase and Klippan sofa for 22 years, will ...

Bloomberg Lululemon Athletica Inc. is in advanced talks for a one-year lease at a store on Manhattan’s Fifth Avenue, helping to fill space in an area that has recently been plagued by retail vacancies, according to three people with knowledge of the matter. The active-wear maker is taking 8,000 square feet (743 square meters) at 597 Fifth Ave., across the ...

Bloomberg Wal-Mart Stores Inc. gained momentum in its fight against Amazon.com Inc., with its online sales growing at their fastest clip in at least five years. The e-commerce business saw gross merchandise volume — a measure of all the goods it sells online — soar 69 percent in the first quarter, Wal-Mart said. Total revenue climbed 1.4 percent to $117.5 ...

Bloomberg Foot Locker Inc. suffered its worst stock decline in more than eight years after first-quarter results missed analysts’ estimates, an outcome the retailer blamed in part on slow income-tax refunds. The shares tumbled as much as 17 percent to $58.13, the biggest intraday plunge since the financial crisis was underway in November 2008. The athletic-shoe chain blamed “unprecedented challenges” ...

Bloomberg Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after ...

Abu Dhabi / Emirates Business Distinguished Australian designer, Ellery, co-hosted an exclusive event – ELLERY X ETIHAD AIRWAYS – together with the Abu Dhabi-based airline at Mercedes-Benz Fashion Week Australia. The event celebrated ELLERY’s 10th year since showing for the first time at Australian Fashion Week with a retrospective of iconic looks from the ELLERY archive. Etihad Airways celebrated its ...

Bloomberg Burberry Group Plc says a sleeker cut will help Chief Executive Officer Marco Gobbetti lift the brand’s image when he takes over in July. The UK trenchcoat maker said on Thursday that it has sacrificed some sales in the short term in order to strengthen its luxury credentials in a bid to raise profitability down the road. It said ...

Dubai / Emirates Business Jumeirah’s largest community shopping centre, The Mall, was officially inaugurated. The prestigious retail and leisure destination located on Jumeirah Beach Road, opposite The Jumeirah Beach Hotel, was inaugurated by Meadhad Rashed Meadhad Almheiri – owner of The Mall, accompanied by Rashid Meadhad Rashid Meadhad Almheiri – Chairman, and Nancy Nese Ozbek, General Manager, at a grand ...

Dubai / Emirates Business Nestlé Middle East’s 18th factory in the region has been inaugurated in Dubai South by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman Dubai Airports, and Chairman & Chief Executive of Emirates Airlines & Group; and in the presence of Marco Settembri, Executive Vice President Nestlé SA and ...