Olsen Twins to Release Fragrance Duo
Mary-Kate and Ashley Olsen are at the helm of a megamultimillion-dollar licensing and manufacturing company, Dualstar Entertainment Group, which they’re now adding to with fragrances. They’re also juggling their Elizabeth and James contemporary brand, their Olsenboye line for J.C. Penney and a T-shirt line called StyleMint, among other projects.
The Olsens’ new brand of two women’s fragrances, Nirvana, which is built off of Elizabeth and James and will be exclusive to Sephora. Black is a sensual woody scent, while White is a musky floral fragrance. The duo will be launched in late January, after a quick in-store holiday preview from Dec. 13 to 25. Nirvana Black, developed first, took a year and a half, with around 50 different concoctions before hitting on the winner. Nirvana White took just a few months.
Hudson’s Bay Co.’s $2.9 billion takeover of Saks Inc.
Saks Inc. shareholders signed off on the deal Wednesday morning at a special pro forma meeting at the University Club in New York lasting less than 10 minutes. The deal is set to wrap up Monday.
Among those leaving is Robert Wallstrom, executive vice president and president of Saks Off 5th, along with Senior to Executive level VP’s from seven departments. Chairman and CEO Stephen Sadove and Ron Frasch, president and chief merchant, indicated they were leaving last month. Marigay McKee of Harrods will become president of Saks on Jan. 6 and Bonnie Brooks will become vice chairman on Jan 1. Three executive committee members will stay on board. While Saks will remain headquartered in New York, Hudson’s Bay plans to expand to Canada with as many as seven full-line stores over the next several years.
Bloomingdale’s Names Tony Spring New CEO
Bloomingdale’s, Macy’s upscale sister, announced Wednesday that Chairman and CEO Michael Gould will be leaving after 22 years at the helm. Gould, 70, will be succeeded by Tony Spring, 48, currently Bloomingdale’s president and chief operating officer. The change is effective Feb. 1.
Gould, who joined Bloomingdale’s as chairman and CEO in 1991, felt it was time to pass the baton and started succession planning 10 years ago with his eye on Spring. Spring told The Associated Press that a priority will be further blending Bloomingdale’s online experience with shopping at its physical stores. Bloomingdale’s already allows shoppers to buy online and pick up at any one of its stores. It also uses its stores as mini-warehouse hubs, shipping merchandise directly to its customers. It’s also testing mobile checkout devices for sales clerks to use in stores.
– Selicia A. Walker
Source: WWD, Bloomberg NewsSee the Top Ten Summer 2016 Trends for Women Over 40
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