Ousted American Apparel CEO Hands Over Stake to Hedge Fund

Outside an American Apparel store | Source: Reuters

NEW YORK, United States — Ousted American Apparel Inc. Chief Executive Officer Dov Charney has handed over his entire stake and voting rights in the struggling retailer to Standard General LP, enabling the fund to negotiate directly with the independent directors over the company's future, two sources close to the matter said on Wednesday.

…Continue Reading

Millennials Shunning Malls Speed Web Shopping Revolution

Millennials prefer shopping online | Source: Lawrence Randall

NEW YORK, United States — CJ Chu is a retailer’s nightmare. The 24-year-old associate for a private-equity firm does “99 percent” of his shopping online — even toothpaste. He’d rather buy groceries on the Web than walk to the supermarket.

…Continue Reading

Op-Ed | Having a Mission is Good for the World and Good for Business

A child wearing glasses donated by Warby Parker | Source: Warby Parker

Today, as Warby Parker announces a new milestone — distributing one million pairs of glasses to people in need — co-founder Neil Blumenthal argues that having a social mission is not only good for the world, but critical to attracting the top talent required to build a successful business.

…Continue Reading