Alliance Boots acquires Chinese drug wholesaler stake
Zug, Switzerland — Swiss drugstore chain Alliance Boots said Monday it has acquired a 12% stake in Chinese pharmaceutical wholesaler Nanjing Pharmaceutical Co. for $88.5 million.
The deal follows Walgreen Co.’s $7 billion investment in Alliance Boots in a move to expand into China.
Alliance Boots runs the largest drugstore chain in the United Kingdom.
Walgreen’s initial plan is to acquire about 45% of Alliance Boots with an option to buy the rest of the company in three years.
Gap Inc. names H&M designer as creative director for namesake brand
San Francisco — Gap Inc. said Monday it has named Rebekka Bay as creative director and executive VP for Gap Global Design, effective Oct. 1.
Bay is most noted for conceptualizing, developing and launching the COS brand for Hennes & Mauritz. She spent five years as creative director at COS.
Bay will be responsible for Women’s, Men’s, 1969, Accessories and Body lines worldwide.
Former Best Buy CEO joins video insights firm
Brad Anderson was named to the board of LightHaus, a provider of shopper insights based on video analytics.
Anderson spent 36 years at Best Buy before retiring in 2009 as CEO and vice chairman. He joins LightHaus as the company is looking for broader usage of its Visual Customer Intelligence solution which uses information gathered from in-store video cameras to measure customer traffic and evaluate customer browsing and shopping behaviors and trends. According to the company, its solution generates reliable data and business analytics that retailers use to increase sales conversion rates and improve the operational and financial performance of their individual stores and overall businesses.
"Understanding the customer is more important than ever before in the brick-and-mortar retail environment," Anderson said. "Companies are seeking ways to use ‘big data’ and business analytics to enhance the in-store customer experience so that more and more store visitors make purchases. LightHaus offers a compelling solution that enables retailers to better capture consumers’ shopping motivations at the most critical opportunity – when they are shopping inside the stores."
According to LightHaus president and CEO Ross Mitchell, Anderson is recognized as a luminary and entrepreneurial innovator in the retail industry.
"His extensive understanding of how to use customer intelligence to drive in-store revenues will help guide LightHaus Visual Customer Intelligence strategies for leading retail customers," Mitchell said.
In addition to his role at LightHaus, Anderson serves on the boards of Carlson Companies, General Mills and Waste Management. He is also active on the boards of several nonprofit organizations, including the Mayo Clinic, Minnesota Public Radio, and the National Council of the American Film Institute. He is a charter member of the Job Creators Alliance and represents the organization on radio and television.