Report: India to allow certain single-brand retailers to open
New York City — The government said it would lift the current 51% ownership limit on foreign companies that sell just one brand of products — a group that would include such companies as Gap, Apple and Starbucks — if they met certain strict conditions, the report said.
The requirements include a purchasing condition that single-brand retailers buy 30% of the value of their products from small Indian businesses and artisans, which are defined as businesses and individuals that have invested less than $1 million in factories or equipment.
The new rules also require investors who want to hold 100% of single-brand stores must own the brands that their stores sell.
Kohl’s is People’s Pick in new poll by Harris Interactive
New York City — Kohl’s is the recipient of the People’s Pick award in The Harris Poll Customer Relationship Series, conducted by Harris Interactive. The award cognizes the strength of consumers’ bonds with mid-tier department stores and reflects the customers’ connections and future intentions.
The poll measure the strength of a brands relationship with their customers based on scores in three key dimensions: emotional affinity, rational performance and behavioral intentions. Kohl’s edged J.C. Penney on two of three customer relationship metrics – emotional and behavioral – while sharing the lead with J.C. Penney on the rational dimension.
"While neck and neck with J.C. Penney on several metrics, what really stands in Kohl’s favor is the customer’s perception of the unique benefits offered by the department store, as well as their advocacy for Kohl’s as demonstrated in their likelihood to continue to shop at and recommend the department store to friends, family and colleagues," stated Mike Chadsey, senior consultant for Harris Interactive’s customer relationship consulting team.
For example, Chadsey noted, a particular competitive advantage is Kohl’s performance on providing unique benefits (5.4), scoring significantly higher than other mid tier retailers (J.C. Penney (5.1), Dillard’s (4.9), Sears (4.9) and Macy’s (4.8).
“Kohl’s has earned the desired behaviors that retailers seek in a long term customer relationship,” he said. “The challenge will be to find ways to maintain and leverage that level of engagement while striving to improve store profitability."
CEO of Urban Outfitters resigns
Philadelphia — Urban Outfitters announced Tuesday that Glen T. Senk has resigned as CEO, effective Jan. 9. The company named chairman and co-founder Richard Hayne as his replacement.
Senk, 55, joined the company in 1994 as president of Anthropologie. He became a director in 2004 and CEO in 2007. Senk indicated that he plans to pursue another opportunity, but that he will remain with the company for a period of time to assist management with the transition. He has also resigned from the board of directors.
"Glen joined the company nearly 18 years ago when the Anthropologie business was a single-store prototype. We are forever grateful for his passion, creativity and leadership in building the Anthropologie brand to what it is today. We are also thankful for his countless contributions having served as the URBN CEO since 2007," said Hayne. "We wish Glen all the best in his future endeavors."
Urban Outfitter s operates the Anthropologie, Free People, BHLDN, Terrain and Urban Outfitters brands.