Word: retailing
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...mail order industry ... caters to every conceivable need of the American buyer except finding parking space, spending hours to find the objects he seeks and quite possibly dealing with surly salesclerks in jampacked retail stores. Those catalogues, offering everything from $29 anoraks to $4 Zippo lighters, have become a major factor in the U.S. economy. As subtly and sneakily as a falling nightgown strap from the Victoria's Secret lingerie catalogue, they have exerted a refreshing influence on American consumers and their style. More than 5 billion of those catalogues will be mailed in 1982 ... The average American household receives...
Meanwhile, the Salvation Army is still reeling from Target Corp.'s decision earlier this year to ban the group, ending the exemption it had given the charity from the chain's no-solicitation policy (similar to that of many retail chains). "It opens the door to any other groups that wish to solicit our guests," said a Target official. In 2003 bell ringers received $8.8 million from Target shoppers--nearly a tenth of the Salvation Army's total $93.8 million holiday haul. Several Christian groups, including Concerned Women for America and the American Family Association, have protested...
Is Serge Weinberg a genius or a madman? That question is riveting the gossipy fashion industry and investors in Pinault-Printemps-Redoute (PPR), the $20 billion French company that Weinberg has been transforming over the past decade into a European retail and luxury-goods powerhouse. Three years ago, the CEO won a fierce battle to acquire iconic fashion group Gucci for $9 billion. Then, earlier this year, he allowed Gucci's creative director, Tom Ford, and its chief executive, Domenico De Sole, to walk out the door after the collapse of talks to renew their contracts. Weinberg tapped Robert Polet...
...used to taking gambles. A graduate of France's élite Ecole Nationale d'Administration, he gave up a safe career in government to become an investment banker before moving to PPR in 1992. At the time, the firm was a messy grab bag of French-focused industrial and retail companies. Weinberg masterminded the shift to luxury. "The demonstration needs to be made that several brands can really flourish in a multibrand group," he says. He plans to be the man who proves it. --By Peter Gumbel/Paris
...acquittal, before acquiring his mainstream profits. And he's not finished. Bolstered by a $100 million investment from Los Angeles supermarket billionaire Ron Burkle, Combs signed a licensing deal with Estée Lauder to launch a men's fragrance next fall. This summer he opened a Sean John retail store on Manhattan's Fifth Avenue. More stores are in the works. As Bad Boy keeps growing, the ubiquitous Combs vows to shed some of the spotlight. "I was really tired this year," he says. "It's important for me to slow down and to focus on the details so that...