Sears to showcase outdoor living line at New York City Wine & Food Festival
New York — Sears and its Shop Your Way loyalty program will play a major role in the city’s Food Network New York City Wine & Food Festival presented by Food & Wine.
New York’s premier culinary event will be held Oct. 18 to Oct. 20 and Sears and Shop Your Way are expanding their presence this year and plan to showcase stylish and affordable lines of patio furniture, Kenmore grills and indoor and outdoor entertainment with Sears designer and TV personality Ty Pennington.
"We’re pleased to expand our presence at the 2013 Festival after serving as the exclusive grill and outdoor furniture provider at last year’s Blue Moon Burger Bash," said James Alt, SVP and president of seasonal and outdoor living for Sears Holdings. "The energetic yet refined environment, filled with thousands of attendees and culinary influencers, is the perfect venue to display our newly-redesigned Ty Pennington Sunset Beach Collection of patio furniture, launch our 2014 line of Kenmore Elite grills and showcase recreational must-haves."
Sears is the exclusive retail provider of the Ty Pennington Style line of outdoor living, home, bed and bath products and Pennington will be greeting Festival guests at the Sears lounge. In addition, Sears and Pennington will be hosting attendees at three of the Festival’s events including: The Blue Moon Burger Bash; Jets + Chefs, the ultimate tailgate presented by Diet Pepsi and hosted by legendary Jet quarterback Joe Namath and celebrity chef Mario Batali; and Ronzoni presents La Sagra Sunday Slices sponsored by Time Out New York hosted by Anne Burell and Adam Richman.
"Backyards are an integral part of every home — an area where families, guests and neighbors socialize and have fun," said Hugo Malan, SVP and president, fitness, sporting goods and toys at Sears Holdings. "Sears offers a huge selection of indoor recreation products like billiards and table tennis along with outdoor games and toys that many of our customers are integrating into their enclosed patios or their backyard entertaining experience. So the Festival is a great place to help people — including our Shop Your Way members — imagine what’s possible."
Soon-to-be former Saks CEO joins JCP board
Saks chairman and CEO Stephen Sadove has been named to the board of directors at J.C. Penney to fill a position being vacated by Geraldine Laybourne.
Sadove will be leaving his position at Saks soon as the upscale department store chain was recently sold to Hudson’s Bay Company. Sadove joined Saks in 2002 as vice chairman and assumed the additional post of chief operating officer in 2004. He became CEO in 2006 and the following year was named chairman.
“Steve Sadove is admired and respected across the retail industry. Under his leadership, Steve built luxury retail chain Saks Fifth Avenue into one of the world’s most prominent fashion retailers today. He also boasts a distinguished marketing and consumer products career spanning over 25 years,” said Thomas Engibous, chairman of the J.C. Penney board.
Prior to joining Saks, Sadove spent 11 years with Bristol-Meyers Squibb and before that 16 years with General Foods. He also serves on the board of Colgate-Palmolive, Ruby Tuesday and is chairman of the National Retail Federation.
Walmart splits with Indian JV partner
Walmart and its joint venture partner in India, Bharti Enterprises, are parting ways after six years, the companies announced.
Plans call for Walmart to acquire Bharti’s 50% stake in their joint venture begun in 2007 to operate cash and carry wholesale stores branded as Best Price Modern Wholesale. At the time, that was the only sector of retail where Indian law allowed for foreign direct investment. The first Best Price store opened in 2009 and today there are 20 units spread throughout India.
Until a change in Indian law last year, Walmart was precluded from owning a majority stake in other retail operations that directly served consumers. However, even with the change, foreign retailers balked at increasing their investments because of an unworkable stipulation that required foreign retailers to purchase 30% of merchandise from local small and medium-size businesses.
“Through Walmart’s investment in India, including our cash and carry business, supply chain infrastructure, direct farm programme and supplier development, we want to serve India and its people, and continue to make important social and environmental contributions to the country,” Walmart Asia president and CEO Scott Price said in a statement announcing the separation from Bharti.
Walmart is committed to businesses that serve members and provide good returns for our shareholders, and will continue to advocate for investment conditions that allow FDI multi-brand retail in India, according to Price.
Commenting on its separation from Walmart, Bharti Enterprises vice chairman Rajan Bharti Mittal said, “Bharti is committed to building a world-class retail venture and will continue to invest in Bharti Retail across all formats. We believe that with our current footprint of 212 stores, we have a strong platform to significantly grow the business and delight customers.”