Fameco creates distressed asset group
Plymouth Meeting, Pa. Fameco Real Estate said Friday it has formed the Fameco Distressed Asset Group, focused on providing targeted brokerage and management services to owners of challenged retail properties.
According to Fameco, the new group will assist in repositioning, workouts, valuations and stabilization/maximization strategies for underperforming and/or distressed retail real estate assets and will offer its property management and third-party leasing to institutional clients and explore receivership opportunities.
Jonathan Rome, Fameco’s general counsel, will spearhead the effort.
Abercrombie & Fitch files lawsuit against Beyonce
COLUMBUS, Ohio A teen clothing retailer has filed a lawsuit against celebrity Beyonce, claiming the name of her upcoming fragrance infringes on its copyright.
Abercrombie & Fitch filed a suit Sept. 15 in U.S. District Court in Columbus against singer Beyonce Knowles, saying that it has held held a trademark for the word “fierce” since 2003, which is the name of its signature fragrance.
Knowles, who recently inked a deal with Coty Inc., was planning on naming her new perfume Sasha Fierce, the name of the performer’s alter ego.
When Knowles applied in September 2008 to trademark “Sasha Fierce” for a fragrance and other items, Abercrombie said in the lawsuit Knowles did not believe there would be any confusion between .
Home strategy evolves at Kmart
HOFFMAN ESTATES, Ill. Kmart continues to enhance the shopping experience for its customers by making substantial strides in improving and enhancing its home offerings, with the introduction of a broader portfolio of new brands and new designs.
“Last year, the Kmart team of designers, each with diverse backgrounds and expertise began a process of developing new product lines. We have continued to strive to deliver even higher quality, more distinctive design, and greater variety in home fashions,” said Doug Wurl, VP, GMM home fashions for Sears Holdings. “With that in mind, last fall we announced our Jaclyn Smith Home collection. Prior to that launch we added Cannon, the nation’s most recognized line of towels and bedding. We also recently unveiled the Country Living collection. Our customers have responded positively.”
Wurl continued: “After declining to pursue an extension of our contract with Martha Stewart, we are moving beyond an offering that centered on one brand. Kmart is a pioneer in bringing quality, value and style to the American public with our strong stable of brands, each with a distinctive look and feel. With supportive brand partners, we have the ability to innovate in ways that will surprise and delight our customers by bringing new brands, exceptional value and multi-channel experiences to our stores and to our customers’ homes every day. Our customers have told us that they want value, variety and style and, with our designers taking the lead on design and product quality standards, we are continuing to give our customers exactly what they want.”