FINANCE

Sunglass Hut Opening in India

BY CSA STAFF

Milan, Italy Luxottica Group S.p.A. announced it will enter the Indian retail market this month with the opening of its first Sunglass Hut store in India. A franchise agreement with New Delhi-based DLF Group, a prominent real estate developer, will lead to the opening of more than 100 Sunglass Hut stores at select high-end malls and premium retail locations throughout India. The plan calls for two stores to open immediately in New Delhi.

In announcing the expansion, Luxottica’s chief executive Andrea Guerra, stated: “This is an especially important development for our group and a turning point for our business in India. On the one hand, it allows us to become from day one a key player in one of the most promising retail markets for premium and luxury brands working side-by-side with the leading real estate developer in the market. At the same time, it is an opportunity to further strengthen the positioning of our key brands, with an expected benefit for our entire business in that market.”

Sunglass Hut has more than 2,000 stores worldwide including locations in North and Central America, Australia, China, the Middle East, South Africa and the UK.

Most recent store openings include two of a planned 15 expected new stores in Thailand. Sunglass Hut also opened stores this year in Hong Kong and the Middle East. Luxottica also announced that it will convert all 71 of the sun stores it owns in South Africa to the Sunglass Hut brand. 

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Newspapers suffer circular setback

BY CSA STAFF

Every Sunday throughout the Tampa Bay area, the St. Petersburg Times and the Tampa Tribune dispatch small armies of people clad in brightly colored t-shirts to the region’s busiest intersections where they hawk newspapers to motorists. Such are the extreme measures required of the nation’s newspapers these days as they look to maintain circulation figures in an era when websites such as Craigslist.com and Monster.com have eroded the once lucrative classified advertising business. The Sunday newspaper remains a viable means of distributing Sunday circulars for many retailers, but only if circulation levels can be maintained. And even then the circular could fall victim to more efficient means of consumer communications.

For example, Target still distributes 50 million circulars each week, but the same ad is posted on the company’s Web site and visitors can also sign up to have the ad emailed to them. Target estimates that 60 million Web site visitors will view the weekly ad online this year, which is a 40% increase from the prior year. As if that weren’t troubling enough for newspapers, when the company opened its newest store in Wasilla, Alaska this October its circular was only available online.

“This online only approach not only saved us the cost of procuring and running a print circular, it gave us the opportunity to address price issues specific to the market as well as to offer some of the unique assortments to our Alaskan guests,” Target’s executive vp of marketing, Michael Francis, told analysts late last month. “An online circular also offers us an antidote to the steady decline in newspaper circulation.”

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Affordable fashion comes to Wasilla

BY CSA STAFF

If only Target had opened its new store in Wasilla, Alaska a few months sooner. Perhaps then, the city’s former mayor and Republican vice presidential candidate Sarah Palin could have loaded up on affordable fashion and avoided spending $150,000 on designer duds at Neiman Marcus and Saks. The revelation proved to be one of the more embarrassing moments of the presidential campaign, but Palin didn’t have an opportunity to shop at Target prior to October when the company opened its first two Alaska stores.

The new units were among a group of 45 new stores.

 

Hawaii is the only state where Target doesn’t have a presence, but that situation will change next year when the first new Target stores open in the Aloha state.

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