PayPal Unveils New Way to Pay
Ebay’s PayPal has unveiled a new way to pay in brick-and-mortar stores that will speed up transactions. Paypal is looking to change its reputation from only exchanging cash online to becoming the default payment method for everyday transactions. PayPal users can use the company’s app to pay using either a QR code, bar code, or a specific code sent for each transaction. PayPal is aiming to control the mobile-payment market, which is expected to grow more than three-fold over the next four years. The market had revenue of from this year’s $235 billion this year alone. In addition, last month eBay acquired Braintree Payments for $800 million.
Jos. A. Bank Bids for Men’s Wearhouse
Jos. A. Bank has proposed a cash offer of $48 a share to acquire Men’s Wearhouse. If completed, the transaction would have a purchase price of $2.3 billion. Men’s Wearhouse immediately rejected the offer, but according to Jos. A. Bank, the company is now considering the proposal.
CFDA to Host Jewelry Showcase
The Council of Fashion Designers of America is planning its first jewelry showcase, which will take place on October 16 at its headquarters in NYC. According to CFDA CEO Steven Kolb, Simon Alcantara came up with the idea to help nurture and show the talent of the expanding group of jewelry designer members.
Update on Juicy Couture Deal
On Monday, we reported Fifth & Pacific Cos Inc. agreed to sell Juicy Couture to Authentic Brands Group for $195 million to focus on Kate Spade. Juicy sales have fallen in recent years and attempts to turn the brand around have failed. Sadly, revenue for the company has declined 6.4 percent last year to $498.6 million. In contrast, Kate Spade has had a sales rise of 64.3 percent in the first half of the year. There is no update on a deal involving Lucky Brand, the company’s other major brand, though sources confirm Lucky will be sold as well.
Source: WSJ, WWD, Reuters.com
Image: WWDSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: Authentic Brands Group Juicy Couture, CFDA CEO Steven Kolb, CFDA Jewelry Showcase, Fifth & Pacific Cos Inc. Juicy Couture, Jos. A. Bank Bids for Men's Wearhouse, Kate Spade, Paypal bar code, PayPal New Way to Pay, Paypal QR code, Sale of Juicy Couture, Simon Alcantara Jewelry Showcase