Sam Walton display recieves $1 million for renovation
Walmart and the Walton Family Charitable Support Foundation have teamed up to donate $1 million to fund the renovation and expansion of the current Sam M. Walton College of Business display, honoring Walmart’s founder, Sam Walton. Each organization donated $500,000 to update the display in the Business Administration Building on the University of Arkansas campus.
“These generous gifts will allow the University of Arkansas and the Walton College to create a world class tribute to its namesake, Sam Walton, who had a transformational impact on the business world, and our university,” said University of Arkansas Chancellor G. David Gearhart. “We are deeply grateful for these very significant gifts and I know our students, faculty, staff, alumni and friends will enjoy learning more about his extraordinary legacy.”
The current exhibit is housed in a single display case in a secluded, low-traffic area of the building. The renovated tribute will highlight the Walton memorabilia over three levels of the building’s central stairway and atrium space and will include interactive displays, modern furnishings and high-quality lighting. The new space will be viewed by thousands of people each year.
“We are so pleased that this recognition of Sam Walton will be in the midst of the business leaders of tomorrow,” said Kaneaster Hodges, president of the Walton Family Charitable Support Foundation. “We hope that it is an inspiration for all.”
In 1998, the Walton Family Charitable Support Foundation gave $50 million to the then-named College of Business Administration. At the time of the gift, Helen R. Walton, the “first lady” of Walmart said: “This gift is about improving the lives of people through education, and we hope it will improve the lives of thousands of students in the state of Arkansas.”
In 2002, the Walton Family Charitable Support Foundation again transformed the university with a gift of $300 million — the largest gift on record to American public higher education — during the billion-dollar Campaign for the Twenty-First Century.
U of A RFID Research Center finds new home in Fayetteville
The University of Arkansas RFID Research Center will finally receive a home of its own. The center, which was founded in 2005 as part of the Information Technology Research Institute in The Sam M. Walton College of Business at the University of Arkansas will be housed at 1637 Fred Hanna Drive inFayetteville. This will be the third location for the research center since it was founded.
“With the explosion of the radio frequency identification industry in the past year, we’ve seen a corresponding increase here in research activity, technology interest and educational needs,” said Justin Patton, the research center’s managing director. “Having a larger facility of our own we can fully meet RFID demands and be ready for several other technologies on the near horizon.”
Radio frequency identification, or RFID, is the use of a wireless system to transmit data from tags on products to a receiver for the purpose of identifying and tracking the product through the supply chain.
The new center is a 20,000 sq. ft. existing space, roughly twice the size of the current location inside Hanna’s Candle Factory on the south side of Fayetteville. Officials plan to celebrate the center’s seven-year anniversary and unveil the design plans for the facility at 2:30 p.m. on June 12 at the new location. Speaking at the relocation and dedication celebration will be Walton College Dean Dan L. Worrell; Moez Limayem, the Walton College associate dean for research and graduate programs; and Mike Graen, director of store innovations for Walmart Stores.
The facility is expected to be fully operational for a grand opening in the fall.
Patton said the expanded facility allows the center to improve its current demonstration, research and laboratory areas as well as providing new areas for education. The entire supply chain will be represented, from receiving of raw materials through manufacturing of products, to the moving of those products through distribution centers and several retail store formats and ultimately into customers’ homes. Arkansas Radio Compliance and other testing programs will have a new home as well.
Since the center’s research mission will expand along with its footprint, areas for the study of emerging supply chain and retail technologies are also planned. The new facility also will house testing areas for University of Arkansas RFID Research Center board member companies and associated businesses.
Macy’s broadens presence in China with luxury website investment
CINCINNATI — Macy’s is offering customers in China access to an assortment of its highly regarded private brand merchandise through a Macy’s section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., Ltd.
In addition, Macy’s Inc. has made an equity investment of $15 million in VIPStore Co., a Chinese e-commerce firm and parent company of Omei.com. Macy’s Inc. joins other venture capital providers, including Intel Capital, in acquiring a minority stake in the company. In addition
to omei.com, VIPStore operates jiapin.com, an established flash sales site.
"Our relationship with VIPStore will allow us to gain additional experience in the fast-growing Chinese market, and to better understand how consumers across China interact with Macy’s and the products we sell," said Terry Lundgren, chairman, president and chief executive
officer of Macy’s Inc.
The Macy’s section on Omei.com is expected to begin selling an assortment of I.N.C. women’s and men’s fashions in spring 2013. Other Macy’s private brands are planned to roll out in the following seasons. Moreover, visitors to the Macy s section of Omei.com can link to the full merchandise assortment available to Chinese customers on Macys.com.
Macys.com first started selling online in China and more than 100 other nations in 2011 through a collaboration with FiftyOne, an international e-commerce provider.