Today’s Fashion Headlines: TAG Heuer Smartwatch, Neiman Marcus Acquires MyTheresa, German Brothers to Make Billions from Rocket E-Commerce

September 19, 2014 • Fashion Blog, Fashion News

The Tag Heuer logo, new watch manufactory in Chevenez

LVMH’s TAG Heuer Has Plans for Smartwatch

French luxury group LVMH’s watch brand TAG Heuer has plans to launch its own smartwatch, the head of its watch business told a Swiss newspaper. Switzerland’s watch industry is facing competition from smartwatches that allow its wearers to make calls, receive messages or monitor their fitness by connecting to their smartphone.

Apple which has so far been absent from the smartwatch market, unveiled its Apple Watch last week. LVMH’s biggest watch brand, TAG Heuer, which also makes the luxury smartphone Meridiist, said last year it had made a one-off smartwatch for members of the Oracle sailing team.

Neiman Marcus Acquires MyTheresa

The Neiman Marcus Group is making some big moves. Just the other week, the retailer announced it is opening its first Manhattan store in 2018. Earlier this week, Neiman’s revealed it has added the online luxury retailer MyTheresa into the fold. WWD reports the deal between NMG and the Munich-based company’s founders, Christoph and Susanne Botschen, and Acton Capital Partners will officially close next month.

According to MyTheresa’s buying director, Justin O’Shea, shoppers can expect to continue to see the same kinds of high-end labels and goods they’ve always found on the site. The most noticeable change will be improved customer experience.

German Brothers to Make Billions From Rocket E-commerce Empire

Oliver Samwer and his brothers Marc and Alexander are on the brink of becoming Germany’s newest billionaires with the flotations of Rocket Internet and the European online fashion site Zalando it helped launch in 2008. They want to make Rocket the world’s biggest e-commerce platform outside the United States and China by conquering markets that Amazon or Alibaba have yet to dominate.

Set up in 2007 in Berlin, Rocket has already launched Amazon-like websites for general goods in Africa, Southeast Asia and Latin America as well as five fashion sites in emerging markets and numerous online marketplaces for everything from real estate to taxis, food delivery and home services.

– Selicia A. Walker

Source: BOF

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