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INCHING TOWARD AN OMNICHANNEL FUTURE: Retailers are trumpeting their omnichannel achievements in an increasing game of one-upmanship, rushing to prove their digital, social and brick-and-mortar expertise. The good news is that companies realize they have to be present in all channels to serve the ever-elusive fashion consumer.
THE MIND-SET AT THE BULL’S EYE: Target Corp. chief executive officer Gregg Steinhafel said the retailer was moving from an operations model to a service one and investing in technology. “There’s a major cultural change in our stores. We know we have to change the culture. We have to preserve operational discipline, [but] we live in the digital world.”
PRICING NET-A-PORTER: Compagnie Financière Richemont may have denied that Net-a-porter Group is for sale, but a Citigroup analyst ran the numbers anyway. Thomas Chauvet, head of European Luxury Goods Research the bank said the fashion site could be sold for 2.28 billion euros, or $3.15 billion. That’s three times the luxury e-tailer’s projected sales of 760 million euros, or $1.05 billion, for the 2014-15 fiscal year, according to Citi estimates.
FACEBOOK’S TOP LINE: Facebook’s quarterly revenues topped $2 billion for the first time in the third quarter, rising 60 percent and marking a better-than-expected showing for the social media giant. Advertising revenue jumped 66 percent to $1.8 billion, with 49 percent of revenue coming from mobile advertising.
THE NASTY GAME PLAN: The original Nasty Gal Sophia Amoruso — the 29-year-old founder and chief executive officer of the hot e-commerce site Nasty Gal — talked about connecting with the consumer at the WWD Retail and Apparel CEO Summit. She said the social media space is “pretty cluttered” with conversations and noted that “social media is great for brand-building, but it’s not necessary for transactional conversations.”
GOOGLE HOLIDAY STUDY SEES BIG WEB PRESENCE: The shopping majority is online. Half of all U.S. consumers are expected to research holiday goods online prior to Thanksgiving weekend, and 60 percent will make a Web purchase that weekend, according to a Google study.
INSTAGRAM’S EMILY WHITE TALKS ENGAGEMENT: Mobile is changing the way fashion is being created and consumed, or at least that’s the conclusion of Emily White, senior director, business opportunities at Instagram. White pointed to the sophistication of cameras on smartphones as helping to usher in a transformative change.
COUNTERFEITING TIFFANY: Tiffany & Co. won a $2.2 million judgment and a permanent injunction against a ring of Internet counterfeiters. The federal lawsuit named 78 defendants operating Web sites such as salestiffany.net, shoptiffanyco.com, tiffanyandcomall.com, tiffanycooutlet.co.uk, which sold counterfeit Tiffany jewelry.
IT TAKES A CROWD: A growing number of denim brands such as Eva & Paul are turning to crowdfunding to help them finance their new collections or line expansions. Through sites such as Kickstarter, Indiegogo and RocketHub, the circle of early investors — and first customers — is widening beyond friends and family to include followers on Facebook, Twitter and other social media sites.