Report: Limited Brands Plans International Expansion
Columbus, Ohio, Limited Brands is looking to expand outside the United States now that the company has narrowed its focus to lingerie and beauty products, according to the Columbus Dispatch.
Speaking at an annual investor conference on Tuesday, Leslie H. Wexner, chairman and CEO, said the company is ready to move forward as the “new” Limited Brands.
Wexner said it will be a plus to go into the holiday shopping season without its former apparel stores, the report said. Earlier this year, Limited Brands sold majority interest in its Express and Limited Stores chains, leaving the company primarily focused on its Victoria’s Secret and Bath & Body Works stores.
“I’m delighted we don’t have apparel retail stores and that we are as dominant in the categories we are in,” Wexner said. “Limited Brands is a very different company with a history that should be disconnected from its present into its future.”
No timetable was given for opening Victoria’s Secret and Bath & Body stores outside the United States. The company does not expect to modify stores for other markets.
Wexner said the timing is right for overseas expansion because both brands are known around the world, while stores are limited to North America, the report said.
Samsung appoints top marketing officer
RIDGEFIELD PARK, N.J. Samsung Electronics America has named Steven Cook as its new senior vp and chief strategic officer for its North American headquarters.
Cook has a 26-year career in strategic brand retail marketing and most recently served as vp of worldwide strategic planning and business development for Coca Cola. Prior to that, Cook worked for Proctor & Gamble.
“Steven has extensive skills in brand differentiation, which have been honed in equally competitive industries where brand differentiation is critical,” said Samsung Electronics America president D.J. Oh.
In a statement, Cook said he looks forward to helping Samsung build on its reputation as a brand that “delivers on its promise of the best consumer electronics experience.”
Report: RFID top priority for Wal-Mart
San Francisco Speaking at an industry conference in Taiwan, Ron Moser, RFID strategy leader for Wal-Mart, said that RFID technology is important to the company and that it recognizes its role as a leader in this area, reports said.
At the Taiwan International RFID Applications Show in Taipei, Moser reportedly said that Wal-Mart could improve sales greatly by fixing its inventory issues using RFID technology. Moser added that he anticipates RFID to have a greater effect on Wal-Mart than bar codes did when they debuted in 1984.
According to reports, Moser said that he expects RFID will lead to getting products on store shelves faster, thus reducing lost sales and making missing merchandise a soon-to-be phenomenon of the past.