Upscale Maryland outlet center on the boards
Clarksburg, Md. — Tanger Factory Outlet Centers and Peterson Cos. said Wednesday that the pair will develop an upscale outlet center in Clarksburg, Md.
The new outlet center, currently in the pre-development stage, will be branded as Tanger Outlets and located 27 miles northwest of Washington, D.C. and 36 miles west of Baltimore.
"This partnership with Peterson Cos. is strategically designed to deliver a world-class outlet center to this exciting Mid-Atlantic market,” said Steven B. Tanger , president and CEO, Tanger Factory Outlet Centers.
The announcement of the latest Tanger Outlets follows the two companies’ groundbreaking and ongoing development of Tanger Outlets National Harbor scheduled to open for holiday 2013.
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Fairway raises $177.5 million in IPO
New York — Fairway Group Holdings Corp., operator of the Fairway Market grocery chain, said Wednesday that it raised $177.5 million in its initial public offering after pricing the shares above the marketed range.
Fairway sold 13.65 million shares for $13 each, according to data compiled by Bloomberg, after offering them for $10 to $12. At the offering price, the company has a market value of about $536 million.
The shares, which represent a 33% stake, will be listed on the Nasdaq Stock Market under the symbol FWM.
Fairway Market started as a small neighborhood market in the 1930s, and today has 12 locations with a potential, it said, for more than 300.
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Crabtree & Evelyn teams with Demandware for digital/mobile commerce
Burlington, Mass. — Demandware said Tuesday that Crabtree & Evelyn has re-launched its U.S. e-commerce site, Crabtree-evelyn.com, on the Demandware Commerce platform. In addition, Crabtree & Evelyn is leveraging Demandware’s web design capabilities to extend the online shopping experience to smartphones and tablets.
The 500+-store Crabtree & Evelyn also plans to use Demandware Commerce to support its global expansion strategy.
“As a global brand focused on growth, we needed a flexible solution — a platform that will enable us to rapidly expand our business and create highly customized, personalized brand experiences across channels and geographies. We chose Demandware’s cloud solution for its continual innovation and platform extensibility. Demandware Commerce will accelerate our time to market and enable us to grow our strategic digital channel,” said Kevin Coen, Crabtree & Evelyn president of the Americas.
Crabtree & Evelyn worked with Demandware LINK Solution Partner, SapientNitro, on the development and system integration of its new site. In addition, Crabtree & Evelyn leveraged several pre-built integrations to third-party technologies available through the Demandware LINK Technology Marketplace.
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