REAL ESTATE

Saks opens in Kazakhstan

BY Staff Writer

New York — Saks Inc. has opened its first Saks Fifth Avenue store in Kazakhstan, in the city of Almaty.

The three-level, approximate 91,000 sq. ft. store is located in the Esentai Shopping Mall, which is the first of its kind in Kazakhstan. In addition to being anchored by Saks Fifth Avenue, the Esentai Shopping Mall includes a large selection of branded luxury fashion and jewelry stores. The shopping mall is part of Esentai Park, a new mixed-use development which includes luxury residential and commercial towers as well as a five-star hotel, which is expected to open in 2013.

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REAL ESTATE

Report: Starbucks to expand across Scandinavia; to open in India by end of October

BY Staff Writer

New York — Starbucks Coffee Co. will open stores across the Scandinavian region in a partnership with Umoe Restaurant Group AS, a leading chain of service establishments in Scandinavia.

The first locations are expected to open in 2013 in Sweden and Norway.

Michelle Gass, president, Starbucks Europe, Middle East and Africa commented: “We are proud to increase our presence in Scandinavia as part of our growth strategy in Europe, Middle East and Africa, and further develop stores where our customers want and expect us to be

In other news, the chain will open its first shop in India, in the Horniman Circle area of Mumbai by the end of October 2012. The store will be operated by Tata Starbucks Limited, the 50/50 joint venture between Starbucks Coffee Co. and Tata Global Beverages Limited.

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Mar-08-2013 04:31 pm

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M.Mimo says:
Mar-08-2013 04:31 pm

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Macy’s to open 450 in-store Finish Line shops

BY Marianne Wilson

Cincinnati — Macy’s Inc. announced on Friday that Finish Line Inc. would be the department store retailer’s exclusive athletic footwear partner, opening in-store shops in more than 450 Macy’s stores nationwide. The merchandise will also be available online at macys.com.

Under the agreement, Finish Line will be Macy’s exclusive partner for men’s, women’s and kids athletic footwear and Macy’s will be the exclusive host for Finish Line-branded in-store shops.

“We believe the enhanced footwear assortment they will bring to our customers at every full-line Macy’s store nationwide, as well as on macys.com, complements our rapidly developing offering of activewear merchandise,” said Jeff Gennette, Macy’s chief merchandising officer. “With Finish Line on our team for athletic shoes, Macy’s will be a comprehensive and compelling destination for footwear across all categories – from dress to casual to comfort to athletic – for men, women, and kids.”

The rollout of the shops, which will be operated by Finish Line as leased departments, will start in spring 2013 with completion expected by fall 2014. (For the remaining approximately 225 Macy’s stores that carry footwear, Finish Line will manage the athletic footwear assortment and inventory beginning in spring 2013, without the staffing or branding provided in the leased departments.)

Finish Line will recognize sales and corresponding profits, less the licensing fee paid to Macy’s. Longer term, this agreement is expected to result in additional sales to Finish Line of $250 million to $350 million annually.

The agreement comes as Macy’s rival J.C. Penney has launched the first wave of its branded in-store shops, starting with Levi’s, Liz Claiborne and Izod. J.C. Penney eventually plans to transform its stores into a collection of some 100 branded shops.

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