Bloomberg After seven decades in the fashion industry, Pierre Cardin will have you know that he’s in no rush to get out. His eponymous label has been for sale for a quarter of a century, though don’t bother haggling over the price: the fashion designer who pioneered brand licensing won’t entertain offers below 1 billion euros ($1.04 billion). “If …
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Emirates Business Club Factory, the international smartphone shopping application, has witnessed significant growth since its launch in the Middle East. The one-stop shopping destination ranks amongst the top 10 free shopping apps in the UAE with home décor, handbags, beauty products, and clothes as the top five most popular products amongst users. Bringing over one million products together on …
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Bloomberg Kate Spade & Co., which is exploring a sale of the handbag maker, plans to kick off a formal auction process next month, with interest from six possible bidders, according to a person familiar with the situation. The New York-based retailer is working with financial advisers on sale preparations, said the person, who asked not to be identified …
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Bloomberg The rising number of single-person households in South Korea is helping to fuel a boom in neighborhood convenience stores, one of the few bright spots in the nation’s sluggish economy. The number of convenience stores has jumped by more than half over the past five years, to 32,000 this year, according to the Korea Association of Convenience Store …
Read More »Beijing / AFP Taiwan tech-giant Foxconn plans to build an $8.8-billion factory in China, state media said Saturday, amid reports its billionaire boss is cooling off on future US investments. Foxconn, a major Apple supplier, will spend the vast sum on an industrial complex in the sprawling southern city of Guangzhou. The factory will make large-screen liquid crystal displays …
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Bloomberg Many investors in retail stocks will be happy to see the back of 2016. But not those who bet on Boohoo.com Plc. The online fashion merchant’s shares have soared about 260 percent in 2016 as fashion-conscious youngsters snapped up garments such as bomber jackets and shoulder dresses for 15 pounds ($18.42) apiece. The stock’s rise is the biggest …
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Bloomberg Kate Spade & Co. shares surged the most in more than two years after Dow Jones reported that the luxury handbag maker is working with bankers to explore a sale of the company. The company has been under pressure from shareholders to find an acquirer amid a failure to boost profit margins. It is working with an investment …
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Bloomberg US fast-food giant Yum! Brands Inc. plans to refranchise its KFC restaurant business in Turkey as part of a global shift away from owning its own outlets. KFC Turkey will increasingly grow through its franchisees, the Louisville, Kentucky-based company said in an e-mailed response to questions, without providing details. Yum, which also owns the Pizza Hut and Taco …
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Bloomberg China is looking to draw private investors, including those from outside the country, into its aerospace programme to supplement funding from the government for commercial satellite launches. Investment is welcome for commercial rocket development, satellite research, manufacturing and for applying aerospace technologies to public welfare, Wu Yanhua, vice minister of China National Space Administration, said at a press …
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Abu Dhabi / Emirates Business UK’s famous vitamin and supplement store – Holland & Barrett has opened retail operations at the ‘Town Square’, the vibrant retail destination within Al Forsan Village. The Town Square will now be home to several ‘community focussed’ brands. These outlets located at the community’s vibrant retail destination is spread across 15,000m. The brands at …
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