Christian Dior Gains from Upscaling Drive
Christian Dior‘s upscaling drive had led to strong growth in all product categories. Geographical sectors helped the company to gain a double-digit rise in revenues in the six months ended June 30, according to Dior chief executive officer Sidney Toledano. Revenues totaled 747 million euros, or $1.02 billion at average exchange for the period, during the company’s fiscal second half, up 13.4 percent versus the period between Jan. 1 and June 30, 2013. At constant exchange rates, sales were up 17 percent during the period. “The positioning of the brand at a very high level is bearing fruit in a market with strong demand for very high-quality products and very high-quality service to match. This quality-based strategy is paying off today. Even at a more difficult time for the industry, it has allowed Dior to gain market share,” Toledano said.
Rue La La Exploring Sale To Gilt Groupe
Online flash sale site Rue La La, formerly partly owned by eBay, is exploring a sale that could value the company at around $400 million. Boston-based Rue La La, which has attracted interest from Gilt Groupe, has hired JPMorgan Chase & Co to advise a potential sale, the people said. Representatives for Rue La La and Gilt Groupe did not immediately respond to requests for comment. JPMorgan declined to comment.
Founded in 2008, Rue La La was acquired for $350 million by e-commence and marketing services companyGSI Commerce, which was bought three years later by eBay. Ebay divested 70 percent of its Rue La La ownership immediately and then last year sold its remaining stake. Rue La La focuses on selling high end fashion brands at big discounts to members in limited-time sales events. Flash sale sites, including Gilt, ideeli, One Kings Lane and HauteLook, were especially popular during the recession, however their popularity has declined recently.
Men’s Wearhouse Aims Big
The goal of a combined Men’s Wearhouse and Jos. A. Bank is to become the largest men’s apparel retailer in the U.S., according to Doug Ewert, president and chief executive officer of Men’s Wearhouse. At the firm’s first analysts day in New York Tuesday morning, Ewert and the Men’s Wearhouse team said that the company is already the largest men’s specialty retailer and the third largest seller of men’s apparel in the U.S. after Macy’s and Kohl’s. To achieve its goal, the company said it will work to grow tuxedo rentals, made in the USA suits, custom suits, preppy merchandise offerings and national brands at its newly acquired Jos. A. Bank division.
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