News

Neiman Marcus exec headed to online luxury consignment site

BY Staff Writer

San Francisco — The RealReal, a leader in online luxury consignment, announced the appointment of Ann Paolini to its leadership team as executive VP of sales. She is joining The RealReal after spending 25 years at Neiman Marcus as a senior executive, and will be responsible for the RealReal’s sales team and consignor relations.

"I believe Ann’s wealth of knowledge and valuable understanding of the luxury industry from both the designer and client perspective will bring the overall consignor and customer experience to a new level," said Julie Wainwright, founder and CEO of The RealReal. " Ann’s tenure at Neiman Marcus will be invaluable in building personal and long lasting relationships with our consignors, which will continue to set us apart from other online luxury consignment sites."

Ann spent 25 years with Neiman Marcus in senior management positions. Her most recent role was senior VP managing director of Last Call.

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INVENTORY

Samsonite Company Stores to improve inventory planning with TXT

BY Staff Writer

New York — TXT Maple Lake, an international provider of integrated and collaborative planning solutions, is pleased to announce that Samsonite Company Stores, the U.S. retail division of Samsonite, is turning to TXT technology in a bid to optimize inventory through more effective merchandise planning.

Selling luggage, business cases and accessories under the Samsonite, Samsonite Black Label, and American Tourister brands, Samsonite Company Stores operates retail stores in 38 states across the U.S.

“TXT’s software will be used to help better manage inventory through the use of their flexible merchandise planning and open-to-buy tools,” explained Mike Zucker, VP of merchandising & marketing for Samsonite Company Stores.

“We needed a robust, reliable merchandise planning solution with complete data integrity,” added Robert Hales, Retail Controller of Samsonite Company Stores. “We felt that TXT had a strong track record in this area.”

Expected benefits from the project include a more standardized planning process, enhanced collaboration and simulation capabilities, and instant visibility of accurate data for fast, effective decision making.

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REAL ESTATE

Port Authority sells remaining interest in WTC retail project to Westfield Group

BY Staff Writer

New York — In a continued effort to return the Port Authority of New York and New Jersey to its core mission, the Board of Commissioners today approved the sale of the agency’s remaining 50% joint venture in the World Trade Center retail project to the Westfield Group for $800 million.

The purchase involves approximately 365,000 sq. ft. of retail space at the World Trade Center Transportation Hub, including future bi-level retail offerings in the newly opened WTC West Concourse pedestrian corridor. Westfield also will have a major street level presence along Church Street, Cortland Way and Dey Street and above-grade in Tower 3 and Tower 4.

An additional 90,000 sq. ft. of retail space will be added for additional consideration when Tower 2 is developed in the future. The grand opening of the retail complex is expected to include a mix of 150 world-class brands and dining options when it opens in 2015.

The action comes a year and a half after the agency entered into a 50/50 joint venture with Westfield in May 2012, generating $612.5 million in private sector investment.

The Port Authority will retain ownership of the World Trade Center Transportation Hub, and will remain the contractor on behalf of Westfield to construct and deliver the retail space to its tenants.

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