BoF compiles the most important professional moves of the week.
PARIS, France — Vente-Privee.com, France’s third most-popular online retailer behind Amazon.com Inc. and eBay Inc., plans to more than quadruple revenue in the next decade by extending the model of flash sales that it pioneered at home.
PARIS, France — French regulations barring shopkeepers from opening Sunday and after 9 p.m. are antiquated, according to the founder of online retailer Vente-Privée.com.
Expansion costs hit H&M earnings (Reuters) “Hennes & Mauritz, the world’s No.2 fashion retailer, posted an unexpected drop in quarterly earnings, hit by competition in tough European markets and the cost of its expansion drive to take on bigger rival Inditex.” British-made fashion is back in business (Guardian) “The unique selling point of these products is, of course, that they are Made in Britain,
The House That Calvin Klein Built (WWD) “Omnipresent as Calvin Klein is throughout the world, the man behind the brand has a reputation for being anything but that… Yet during a rare public tête-à-tête with Fern Mallis Monday night, the designer opened up… No subject seemed to be too personal for the 68-year-old Klein, who appeared relaxed and affable throughout the interview — his first at 92Y in 12 years.”
Post-Recession, the Rich Are Different (WSJ) “Bentleys and Hermès bags are selling again. Yet the wealthiest Americans are emerging from the financial downturn as different consumers than they were… What’s showing up in the latest research is a broad-based caution—a sudden aversion to salespeople, a tepid response to ads focused on brand images, and a new interest in price-shopping.” Vente Privée Founder
Cyber Monday: busiest online shopping day ever (Telegraph) “In recent years the first Monday of December has become the busiest day for online shopping, with consumers scouting for the best deals over the weekend before making their decision on the Monday. Between the hours of 1pm and 2pm alone, Brits spent a combined total of £33 million, a year-on-year increase of 21 percent.” Clothing sales hit in November (Drapers)