1. Tommy Hilfiger closes NY flagship
Premium clothing manufacturer and retailer Tommy Hilfiger is shutting down its Manhattan flagship. Next, it plans to close its Miami store on Collins Avenue. Tommy Hilfiger had operated its New York store for ten years and these two stores were reportedly the brand’s only full-price stores in the US. Given the changing consumer preferences (read shift from offline to digital), the retailer is closing down these stores and will continue to invest in its own eCommerce site. It will, however, continue to sell through its 1500 global stores and 200 plus outlet stores in the North America region.
2. Amazon plans 100 mall kiosks across India
Amazon is reportedly planning to roll out more than a hundred kiosks in malls across India. These kiosks will sell its devices such as the Kindle ebook reader, the Echo speaker, and the Fire TV dongle by the end of the year. Two people familiar with the story were quoted as saying that this move by Amazon is expected to be a precursor to a broader entry into brick-and-mortar stores in India.
3. McDonald’s acquires digital start-up Dynamic Yield
McDonald’s has acquired personalization start-up Dynamic Yield. According to Techcrunch, sources familiar with the story said the value of the acquisition is around $300 million. Dynamic Yield is an AI-backed omnichannel personalization platform that works with brands across eCommerce, travel, finance, and media. McDonald’s said it plans to use the company’s technology to create a drive-thru menu that can be tailored to things like the weather, current restaurant traffic, and trending menu items. Once the customer has started ordering, the display can also recommend additional items based on products already chosen. McDonald’s also said that it plans to integrate the tech into other digital products like self-serve kiosks and the McDonald’s mobile app.
4. Ascena sells Maurices for $300 million
Struggling apparel conglomerate Ascena retail group announced yesterday that it plans to offload a majority interest in its discount apparel banner Maurices. Ascena will reportedly maintain a minority stake and continue to support the brand in IT, Supply Chain and some back office functions. According to Retail Dive, Ascena’s premium brands have been faring well while its value brands – Maurices being one among them – have been flailing and this move has been viewed as being taken in part to boost profitability.