Word: retail
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...they call themselves, met in Portuguese class while undergrads at Harvard. Both went on to Harvard Business School, after which Wilson worked for eBay, overseeing eBay Canada and launching eBay Motors, while Maybank ran retail operations at Bulgari and sales-forecasting at Louis Vuitton. Eventually, however, "we discovered we were spending way too much time sneaking to sample sales and taking orders for family members," Wilson says. "We thought this might be a simpler way to go about it and more fun." Only now occasional restraint is in order. "We actually have a policy that we can't buy merchandise...
...fashion's loftiest ranks, the concepts of luxury and discount go together about as well as navy and black, except in one rarefied setting: the sample sale. Alexis Maybank and Alexandra Wilkis Wilson set out to re-create that élite, high-adrenaline environment with their members-only retail site, gilt.com Every day the site plays host to fashion sales, which, just like the real thing, fling open the doors to the current wares of a single designer?Zac Posen, Marc by Marc Jacobs, Donna Karan, Alessandro Dell'Acqua?at insider prices ranging from 50% to 70% off. All sales...
...days, more importantly, the Final Four will jolt the local economy. Thousands of fans have flocked to Detroit for the big games, and they'll spend money in the city's downtown hotels, restaurants, bars and retail shops. The games are being played at Ford Field, the downtown home of the Detroit Lions, which will seat some 70,000 fans. Fan-festivals and free concerts throughout the weekend will also draw visitors downtown. The NCAA anticipates that the Final Four will generate anywhere between $30 million and $50 million in new direct spending for the ailing area. (Hear Dick Vitale...
...last of the really large sectors that has helped the market move is, improbably, the retail sector. Shares in companies including Sears (SHLD), Nortstrom (JWN), and Target (TGT) have done remarkably well. The only explanation is that the funeral preparations for these companies were so far along at the beginning of the year that Wall St. is shocked that they are still around. If consumer spending bounces even an inch off the ground, the largest retailers may live to see the 2009 holiday season. (See pictures of TIME's Wall Street covers...
...which is mostly college students.” The store had provided clothing for the Harvard fashion show Eleganza and several fashion shows sponsored by Harvard Business School. Alo will liquidate its merchandise at the Santa Marias’ new store location. Despite the difficult environment for high-end retail stores, Marie Santa Maria was sanguine on the outlook of their next business venture. “It’s just a process that we’ve been through,” she said. “We’ve seen...