FINANCE

Privalia boosts flash sales business with IBM Smarter Commerce

BY Katherine Boccaccio

Armonk, N.Y. — Online fashion retailer Privalia said Friday it is working with IBM to boost its expanding online sales business through mobile and social channels.

Privalia organizes online flash sales, a phenomena that offers personalized, limited-time offers to consumers at attractive prices.

Privalia is using software from IBM’s Smarter Commerce initiative to connect with the growing marketplace of digital consumers who prefer to buy across online, mobile and social channels. The IBM software provides intelligent automation of marketing, sales, customer service and procurement.

Privalia organizes short, single-brand campaigns lasting between three to five days. According to Lucas Carné, Privalia’s co-founder” “For a technological investment of near two million euros, it was crucial to find a multichannel solution that gives us the maximum modularity and enables us to continue innovating, a key to our success. Being able to work with a trusted partner such as IBM was critical to our decision."

The flash sales model that Privalia represents is helping smaller retailers gain a competitive edge while appearing more exclusive. For a limited time, boutique items at special discount prices are displayed on the website. This can be a more effective sales method than conventional websites that may be viewed as cheapening a brand’s value or in the case of brick-and-mortar stores, where a lesser-known company is lumped in with major, household names.

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OPERATIONS

Home Depot Center to potentially be renamed

BY Staff Writer

Carson, Calif. — A Friday report by the Associated Press said that the home of Los Angeles’ professional soccer team will likely be getting a new name.

The Home Depot Center, which also includes facilities for tennis, track and field, baseball, basketball and other sports, as well as serves as an official training site for U.S. Olympians, is nearing the end of the $70 million, 10-year naming rights period, and Home Depot spokeswoman Jean Niemi told AP that the retailer does not plan to renew the deal.

Anschutz Entertainment Group, which owns the Los Angeles Galaxy soccer team, said it is in the "final stages" of negotiations with a new naming rights partner for the sprawling complex, said AP.

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OPERATIONS

Macy’s Lundgren honored with a ‘Father of the Year’ award

BY Marianne Wilson

New York — The National Father’s Day Council, a nonprofit that recognizes modern day role model fathers, has named Terry Lundgren, chairman, president and CEO of Macy’s Inc., as a recipient of its 2013 “Father of the Year” Award.

Lundgren joins President Bill Clinton, founder of the William J. Clinton Foundation and 42nd President of the United States, as a fellow honoree. The awards will be presented at the 72nd Annual Father of the Year Awards in New York City on June 11.

With proceeds benefitting Save the Children’s U.S. Programs, the awards luncheon will take place at 12 p.m. at the Grand Hyatt New York Hotel.

Lundgren has two daughters and currently resides in New York City with his wife, Tina.

“We are truly privileged to have such an esteemed and well-respected retail industry veteran accept this award,” said Dan Orwig, chairman of the National Father’s Day Committee, and VP, group director men’s division Itochu Prominent. “Lundgren is recognized for his role as an inspirational and dedicated father, as well as his outstanding philanthropic efforts and distinguished career. He embodies the passion, leadership and true devotion to both his family and career that is celebrated by this award.”

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