REAL ESTATE

Uniqlo’s new Paris flagship

BY Marianne Wilson

New York — Uniqlo debuted a new flagship with the opening of its fifth location in Paris, in the city’s Marais area.

Located in a 19th century building that once housed a foundry, the three-level, 8,800-sq.-ft. store combines such historic details as a 115-ft- red-brick chimney with a modern layout and high-tech accents, including video screens and LED displays.

It was designed by Tokyo architects Wonderwall, a longtime collaborator with Uniqlo.

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FINANCE

Coach profit falls amid increased competition

BY Marianne Wilson

New York — Coach Inc. third-quarter net income dropped 20% to $190.7 million, from $238.9 million a year earlier, amid increased competition from Michael Kors and others.

Revenue for the quarter ended March 29 fell 7.4% to $1.1 billion, compared to analysts’ $1.13 billion estimate. Same-store sales in North America fell 21%. Sales will continue to fall through the rest of the year, the company said.

“Our business in North America remained challenging in the period, exacerbated by the weather and shift of the Easter holiday. We experienced sharply lower traffic levels in our stores while our internet results were impacted by our strategic decisions to eliminate third party events, as well as limit the access and invitations to our factory flash site,” Victor Luis, Coach CEO, said in a statement.

Coach fared much better outside North America. International sales rose 14% to $441 million, excluding currency impacts. Factoring in foreign-exchange rates, international sales grew 20%.

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OPERATIONS

Amazon opens ‘Wearable Technology’ shop on its site

BY Marianne Wilson

New York — Amazon has opened a Wearable Technology store on its website, which it describes as a one-stop shop where customers can discover the latest in wearable technology and research wearable devices including activity trackers, smart watches and wearable cameras.

“Wearable technology is an exciting category with rapid innovation and our customers are increasingly coming to Amazon to shop and learn about these devices,” said John Nemeth, director of wireless and mobile electronics at Amazon. “We’re thrilled to bring our customers a store with the largest selection and great prices that helps eliminate the guesswork when deciding which wearable devices best fit their needs — whether that is tracking activity, staying connected through smart watches or capturing their next adventure with wearable cameras.”

To help customers learn more about wearable technology, the store features a “Learning Center” that includes product videos and detailed buying guides. These resources provide information about device compatibility, product comparisons and use-case suggestions to help customers find the right device for them. Customers can also take advantage of the “Editor’s Corner” to find information about wearable technology industry news and device reviews.

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