Aldi To Sell Brand-Name Products
New York City, Aldi, the German discount supermarket chain, will reportedly begin selling a handful of brand-name products, thus marking an end to its own-brand strategies.
Analysts speculate that the giant discount chain’s move to brand-name products could provide opportunities for consumer-goods makers such as Procter & Gamble and Unilever. Previously, Aldi’s “hard discount” strategy differentiated it from its competitors, most of which adhered to “soft discounts.” However, in recent years, Aldi has struggled to maintain its lead in the German market, as soft discounters like Lidi have closed the gap considerably.
Aldi currently runs 7,500 shops in 16 countries, including Germany and the United States.
Fitch Upgrades J.C. Penney
New York City, Good news for J.C. Penney: Fitch Ratings raised its rating of Penney’s senior unsecured debt to “BBB-,” from “BB-plus.” The new rating is the lowest investment grade rank. “The upgrade also reflects the expectation that [J.C.] Penney will make continued progress with its turnaround over the medium term while further reducing debt levels,” Fitch said.
Playboy Enterprises Opens Overseas Boutiques
New York City, Hong Kong and Kuala Lumpur will both have freestanding Playboy Concept Boutiques by the end of this year. These will be the fourth and fifth locations for the concept, selling full collections of Playboy fashion and accessories.
The openings will leverage Playboy’s expansion at retail in specialty stores and department stores in the United States, Asia and Europe. Among the stores currently carrying Playboy items are Henri Bendel in New York, Selfridges in London, Colette in Paris and Seibu in Hong Kong.