FINANCE

Cache names new CFO

BY Staff Writer

New York — Cache Inc. announced that Anthony DiPippa (“Tony”) will join the company as executive VP, CFO, on Aug. 7. He succeeds Margaret Feeney (“Maggie”), who has resigned from Cache, effective Aug. 1.

DiPippa most recently was CFO of W. B. Mason, a $1.2 billion office products and furniture company.

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New social media platform opens Amazon aStore

BY CSA STAFF

ATLANTA, Ga. — Vir2o, a new social media platform by East Coast Diversified Corporation, has announced that its online, interactive e-commerce engine is open for business and powered by Amazon.

Members of the aStore will be able to browse through a wide range of products and shop online with friends in their network in real time, thanks to ECDC’s nVite technology. ECDC’s proprietary nVite technology also lets Vir2o members watch movies together and share photos in real time.

"Launching our Amazon aStore is the latest step in fulfilling Vir2o’s promise of ending the loneliness of social media and creating a network that lets members share experiences with friends and family without forgoing privacy," said Kayode Aladesuyi, chairman and CEO of East Coast Diversified Corp.

ECDC is a holding corporation with a diversified group of technology companies. Its business portfolio includes companies offering technology for logistics and asset management, media entertainment, transportation safety and class attendance monitoring and social media applications.

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H&M makes U.S. e-commerce debut

BY CSA STAFF

NEW YORK — H&M has made a lot of its U.S. customers happy with the launch of its Shop Online store, namely those who prefer the convenience of online shopping over having to go to the retailer’s brick-and-mortar stores.

The retailer also stands to reach new potential customers who don’t have a store anywhere near them, but are familiar with the brand.

The online store will offer the same selection of apparel and accessories available in stores, as well as exclusive online offerings. It will also offer the retailer’s new H&M Home, which has made its debut with the launch and is available exclusively online. The home collection features towels, bed linens, curtains and other home textiles and accessories in a variety of colors and prints.

"We are thrilled to launch online shopping in the U.S.," says Daniel Kulle, U.S. president for H&M. "This significant milestone fully rounds out H&M’s multichannel offering. Along with close to 300 stores, our U.S. customers will now have 24-hour access to the best of our fashion and home collections via their computers, smartphones and tablets from anywhere in the U.S."

To promote its online shop launch, H&M will partner with top bloggers across the nation, one representing each state through a user-generated contest titled, "50 States of Fashion." The nationwide contest will have each blogger’s readers tag their personally curated looks from their hm.com purchase on Instagram, for the chance to be chosen as America’s top H&M look.

To further highlight the arrival of its e-commerce presence in the U.S., H&M will offer exclusive online pre-shopping of its Paris Show collection. Presented first on the runway during Paris Fashion Week, this collection will debut globally in approximately 200 stores and online September 5. U.S. customers will have the opportunity to be the first in the world to shop the collection on August 22.

The retailer will also be marking the launch of its online shop with a popup shop on August 22 in the heart of New York City’s Meatpacking District where customers will get a glimpse of the e-commerce site. The popup shop will feature the Paris Show collection, a try-on lab and a virtual checkout system where customers can make purchases with their iPads.

H&M Hennes & Mauritz AB was founded in Sweden in 1947. In addition to H&M, the group includes the brands & Other Stories, Cheap Monday, COS, Monki, Weekday and now H&M Home. The H&M Group has around 2,900 stores in 49 markets including franchise markets.

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