FINANCE

Tattoo Nation Targets U.S. Malls for Expansion

BY CSA STAFF

New York City Tattoo Nation LLC, which provides tattoos from leading artists in upscale retail outlets, announced that it has signed letters of intent for leases at nine shopping center locations in top markets as part of its national-expansion plan. The company will roll out under the brand, INKED.

“Tattoo Nation is taking advantage of the dramatic evolution of tattooing from a counterculture practice with health and safety concerns to a mainstream art form/accessory that is growing at a remarkable rate across many different demographics in the United States,” said CEO Heath Wolfson. “We create a lifestyle experience with a safe, almost clinical work environment for tattooing.”

Tattoo Nation said it has signed letters of intent for four locations in Florida, three in Los Angeles, and two in the New York/New Jersey region.

The company also recently signed a lease with Macerich at Queens Center in New York City.

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Study: Organic market not recession-proof

BY CSA STAFF

CHICAGO According to Mintel, the market for organic foods and beverages should reach $7.2 billion in 2008, an increase of over 140% from the $3.0 billion recorded during 2003. But year-over-year, Mintel has seen sales growth slowing. With many Americans now struggling financially, Mintel projects that sales of organic foods and beverages will not rally anytime soon.

Rising food and gas prices, the credit crunch and economic uncertainty have deeply affected peoples shopping habits, comments Marcia Mogelonsky, senior analyst at Mintel. Across the board, Americans are spending less and organic versus traditional is a decision many people are thinking about carefully.

People are also saving money by reaching for private label organics, which have exploded in recent years. Mintels Global New Product Database (GNPD) tracked over 540 new private label organic foods in 2007, a massive increase from the 35 new products seen in 2003. Furthermore, when Mintel asked survey respondents about the difference between name brand and private label organics, three in five (60%) said it didnt matter, that they reached for whatever is available when shopping. Private label posts an increasingly large threat to branded organic lines.

Economic struggles will undoubtedly change the way organic food and drink is sold. But we dont expect people to completely stop buying organics, states Mogelonsky. We anticipate more subtle changes, such as the formerly all-organic shopper who returns to traditional cookie brands while sticking with organic produce. These small changes will slow market growth.

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A&F names new cfo

BY CSA STAFF

NEW ALBANY, Ohio Abercrombie & Fitch Co. announced that Jonathan Ramsden has been named evp and cfo, effective upon his joining Abercrombie & Fitch in early to mid-December.

For the past 10 years, Ramsden has served as the cfo and a member of the executive team of TBWA Worldwide, a large advertising agency network with more than 11,000 employees worldwide and a division of Omnicom Group.

“Jonathan came to us by way of a nationwide executive search for a new cfo. We were extremely impressed by several of the candidates, but Jonathan clearly stood out above the rest,” said Mike Jeffries, ceo and chairman of the board of Abercrombie & Fitch.

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