Radar: Retail Wrap Commerce Continues its Expansion
More Holiday Hires Over 2009
In what hopefully signifies a slight economic rebound, retailers expect to be adding more hires this holiday season, according to two new studies.
Each conducted by CIT Group Inc. and Hay Group Inc., the surveys attempted to document the retail expectations and intentions of merchants this coming winter.
“The general consensus is that, having weathered the economic downturn, most retailers are in better shape today than in 2009,” Burt Feinberg, managing director and group head of retail finance at CIT, told WWD, “and have positioned themselves well to meet future consumer demand when it returns.”—WWD
The positive results of CIT’s study of middle-market retailers includes 68 percent of retailers expecting to hire more employees this holiday season over 2009’s, and 68 percent likewise expecting revenues to increase during the coming 12 months. Hay Group Inc.’s survey of 20 key retailers revealed that 83 percent declared they plan to hire more or the same number of staff members for the season, amid other findings. A total of 63 percent of businesses reported that the ratio of permanent to seasonal workers will mostly remain constant.
The studies also indicate that Black Friday will be less pivotal this Thanksgiving and that job candidates will face some stiff competition during the holidays: Fully 43 percent of retailers anticipate more applicants over 2009.
“Retailers are more optimistic than last year headed into the 2010 holiday season,” said Craig Rowley, vice president and global leader of Hay’s retail arena, to WWD.
It’s a Shoe-in: Selfridges opens revamped shoe emporium
In a remarkable and perhaps risky move, Selfridges is opening what it is heralding as the biggest shoe department in the world. Expanding 40 percent from the original space, this multimillion-pound, 35,000-square foot renovation, called the Shoe Galleries, creates 11 apartment-style boutiques highlighting individual brands. These are strategically placed around six salons that stock all kinds of designer and high-end footwear, with French bistro Aubaine at the center.
More than 120 brands are represented in this new space, plus the company has obtained 30 shoe styles exclusively. From the elaborate chandelier, gold leaf ceilings, suspended garden and abundance of velvet, it is clear no expense was spared in constructing this shoe extravaganza.
“Before the concept of the Shoe Galleries, Selfridges already had a strong women’s shoes business,” Anne Pitcher, Selfridges’ buying and merchandise director, said to WWD. “We felt there was an opportunity for us to grow this business by creating the best destination in the world for shoes.” —WWD
International celebrities thronged Thursday among performing ballet dancers and live entertainment from Scottish singer Paolo Nutini to celebrate the opening of the new shoe gallery, which was two full years in the making.
Louis Vuitton expands their high-end jewelry business with a new store in Paris
Louis Vuitton has plans to expand its high-end jewelry business. Late next year, the jewelry maker/designer will unveil a new, two-story place in Place Vendôme in Paris, creating some competition for other prestigious jewelry brands already lining the street. Featuring 1,600 square feet of jeweled goodies, plus several VIP salons and a workshop that allows for repairs or personalization, the jewelry will be high class. Prices will reach into in the seven figures, in addition to more “medium” priced goods.
Architect Peter Marino will aim to create “an extremely luxurious space and creating a worldwide window for the brand. We will spare no effort to make this one of the most beautiful jewelry stores in the world,” Philippe Schaus, Vuitton’s executive vice president, told WWD. Vuitton now boasts 453 stores worldwide, and hopes to build its jewelry brand, first started 10 years ago, with this new flagship.
