What: the retailer creates a new Top of the List Unlocked status

Why is it important: Bloomingdale’s focuses on the highest spenders for the first time.

Consumers who spend more than USD 15 000 per year will receive elevated benefits in the retailer’s new Top of the List Unlocked status, its new most rewarded category.

Top of the List Unlocked members have been increasing their luxury spending during the Covid-19 pandemic when discretionary income wasn’t being allocated to travel and entertainment. Rather than apparel, however, consumers bought fine jewelry and shoes, said Frank Berman, executive vice president and chief marketing officer of Bloomingdale’s.

“It’s a really small group,” Berman said of Top of the List Unlocked members, adding that these highly-engaged consumers on average visit stores and shop online 30-plus times per year. “It’s less than 1% of customers, but accounts for a pretty sizable percentage of our luxury customers. This group is in a different stratosphere. They’re a disproportionate part of our business and they’re the apostles who go out and recruit the next new generation of top customers.”

Top of the List Unlocked members are predominantly women and in their Forties – the age is a sweet spot for Bloomingale's. These clients “buy every category of merchandise from us, including luxury fashion and home. She has an active youthful lifestyle and is in touch with what’s happening and what’s new,” Berman said.

Members in the top Loyallist tier can now earn 10 points per dollar, or 5% back, with a Bloomingdale’s credit card, or one point per dollar with any other payment method. This tier will also receive early access to products, get four triple point days per year, an unlimited return window, free local delivery and special offers and promotions.

Bloomingdale’s created a private Instagram account for Top of the List Unlocked members, launching later this month. “These customers will be able to preorder products from top brands before everyone else,” Berman said. “It’s all handled through our 59th street flagship. There will be exclusive Instagram content and access to the Best of Bloomingdale’s cobranded credit card with American Express AXP +0.2% AXP +0.2% AXP +0.2% with all purchases earning 5%.”

Bloomingdale’s Revamps Loyallist Program With New Perks For Top Customers

What: the move is part of the world’s biggest retail strategy shift

Why is it important: Walmart aims to close the e-commerce gap with Amazon and tap into China’s vast network of manufacturers

This month, Walmart began opening up its third-party marketplace to foreign sellers, who no longer need a US address or business tax identification. The vendors will still be carefully vetted, both locally and by Walmart’s global trust and safety team. The new sellers will make up just a fraction of Walmart’s total seller population, which is mainly based in the US.

Walmart is looking to expand its marketplace, where suppliers can offer their products via the company’s website, and the services that branch off of it, like fulfilment and advertising. For retailers, marketplaces are attractive because they provide revenue from fees without the cost of storing inventory. Last year, Walmart began offering fulfilment services for its marketplace sellers, a move that Amazon made 15 years ago.

For Chinese manufacturers, US marketplaces have become a popular way to reach American customers. Nearly 40% of all Amazon marketplace sales to US shoppers come from Chinese merchants, according to researcher Marketplace Pulse, which monitors the site.

“This will get Walmart more selection, more affordable goods that already dominate Amazon best-sellers lists,” said Juozas Kaziukenas, founder and CEO of Marketplace Pulse. “To an investor, that reads as positive news.”

Walmart doesn’t disclose how many marketplace sellers it has, but Marketplace Pulse pegs it at about 80 000. Walmart carries more than 80 million unique items online.

Walmart Opens Marketplace to Non-US Vendors in Strategy Shift

What: the UK department store supports the Sustainable Fibre Alliance (SFA)

Why is it important: all key raw materials in own-brand products will come from sustainable sources by 2025

The UK department store retailer is to fund a three-year programme run by the Sustainable Fibre Alliance (SFA) to support the expansion of the body’s new Cashmere Standard from Mongolia to the Inner Mongolia region of China.

The retailer said its involvement will be part of a commitment “to ensuring all key raw materials in our own-brand products will be from sustainable or recycled sources by 2025”.

For its part of the support, John Lewis is funding the training of 420 herders in Inner Mongolia, on the global standard. Training will be provided by a leading animal welfare NGO, the International Cooperation Committee of Animal Welfare (ICCAW), together with experts from a local agricultural university.

Protecting cashmere’s future John Lewis to fund Inner Mongolia wool programme

What: the opening of more brick-and-mortar location for the online resale platform

Why it is important: while online shopping is soaring, physical shopping is not dead yet as demonstrated with the RealReal’s expansion into the physical business. After opening smaller neighborhood stores in California and in NYC, the label plans on opening ten more before the summer

The RealReal realised that consignors are more responsive when dealing with a physical space and tend to consign more items, which ultimately offers more choices for customers. And buyers who purchase offline and online spent more a year than online-only buyers. CEO Julie Wainwright said: There are favorable terms for driving those smaller neighborhood stores to faster profitability than they were before Covid.”

The success for the physical expansion lies in the fact that, even though online shopping can be convenient, it will not overcome the in-person desire to touch and feel. The RealReal also bets on its core value ‘resale’ to continue attracting customers who are more and more committing to a sustainable consumption, through ‘re-commerce’ for example.

The RealReal’s Results Are Another Sign That Brick-And-Mortar Stores Won’t Go Out Of Fashion

What: eBay is the third-largest e-commerce company in South Korea.

Why is it important: This acquisition would be key for Lotte Group, as an opportunity to boost its e-commerce and compete with Coupang as well as Shinsegae/Naver partnership.

Lotte Shopping CEO Kang Hee-tae said at the company’s March 23 shareholder meeting that he is interested in eBay Korea. This has to do with the fact that Coupang successfully went public on the New York Stock Exchange and Shinsegae and Naver formed a partnership for a higher market share.

For Lotte Group, eBay Korea is an opportunity to boost Lotte ON, its sluggish e-commerce arm. Lotte ON launched about a year ago, has failed to make any meaningful achievement. A change is inevitable and eBay Korea can serve as a breakthrough.

Shinsegae Group is interested in eBay Korea, too. The group is currently beefing up its e-commerce business based mainly on SSG.com. The e-commerce arm boosted its sales by 53% last year.

eBay Korea’s value is estimated to KRW 5.000 billion (USD 4.420 billion).

Lotte and Shinsegae Interested in Acquiring eBay Korea 

Related items:

• Shinsegae and Naver partnering to compete with Coupang
• Shinsegae and Naver to launch luxury e-commerce platform this summer

What: in 2020, the Lotte Shopping platform has only grown by 7% compared to 2019

Why is it important: The shinsegae platform grew by 37% during the same period

Cho Young-je, chief executive of Lotte Shopping’s e-commerce Business Division, has resigned in response to the company’s struggles to grow its online presence.

Lotte Shopping launched Lotte On, its e-commerce platform encompassing the company’s seven retail brands like Lotte Department Store, Lotte Mart and Lotte Home Shopping, last April. But the player is struggling to cement its position in Korea’s online shopping market, which grew 19% year-on-year in 2020. Lotte Shopping’s gross merchandise value hit KRW 7.6 trillion (USD 6.7 billion), marking a mere 7% boost from 2019, while rival Shinsegae Group’s digital arm SSG.com grew 37% during the same period.

Lotte, which said Cho resigned due to health problems, is now looking to hire a CEO from outside the firm with e-commerce expertise.

Lotte Shopping’s E-Commerce Head Steps Down Amid Digitisation Struggle 

Lotte Shopping struggles to find its place online

What: SSG.com will launch an open market place to enable individual sellers with a business license to freely market their products on the platform.

Why is it important: A big retail shakeup has started as retailers react to Coupang’s New York IPO and prepare themselves for the sale of eBay Korea, which could significantly shift market shares.

In addition to products from Shinsegae's retail affiliates, such as E-mart and Shinsegae Department Store, SSG.com will let individual dealers sell their products on its platform. Its main rival, Lotte Shopping, launched open market services in April 2020 on its combined online shopping platform, Lotte ON.

As part of the plan, SSG.com launched a seller's page called SSG Partners, where small and medium-sized dealers can register and manage their products. The e-commerce firm also lowered its standard for sellers, by simplifying the registration process: anyone who can provide their ID through a mobile phone can open a business on SSG.com's open market.

However, it decided not to allow open market sellers to sell grocery items, luxury goods and certain fashion brands, as they are in direct competition with Shinsegae Group's retail units.

SSG.com currently sells about 10 million products kept in stock, and this inventory is expected to grow fivefold when it starts its open market service. This growth will help Shinsegae's online business to increase its market share, which is now only 2.4%.

Shinsegae to launch SSG.com open market service

What: Edgy LA store Fred Segal ventures outside home ground in US.

Why it is important: Opening stores when others are closing. Adapts the format but retains its spirit to attract customers.

Fred Segalplans to open two freestanding stores in Las Vegas this summer at the $ 4.3 billion Resorts World Las Vegas luxury resort and casino. The Fred Segal men’s and women’s stores will each cover 5 000 sqft of space.

With locations on Sunset Boulevard in Los Angeles, Malibu and Los Angeles International Airport, as well as international units in Taipei, Taiwan and Bern, Switzerland, Fred Segal is opening stores at a time when many retailers are struggling to keep the lights on in existing units.

The Las Vegas stores will feature Fred Segal’s signature vine-covered façade and red, white and blue awnings. Brands will include Libertine, MadeWorn, John Elliott, On Running, and Danielle Guizio. A Sundry Shop will offer beverages and snacks inspired by the culture and lifestyle of Los Angeles.

Management claim they have benefited from the closure of Barneys. Resorts World is the first new casino to be opened in Las Vegas for 14 years.

Fred Segal passed away at 87 on 25 February 2021. He will be remembered as arbiter of West Coast cool.

Fred Segal Bets On Las Vegas With Two New Stores

What: following second-hand business, repair services can reap rewards

Why is it important: Farfetch has seen significant year on year growth in purchases of pre-owned items

Fashion retailers Farfetch and FW have both found benefits from moving into repair, with the latter reducing warranty return costs “by 60% after launching a gold standard repair guarantee for its outdoor clothing”.

Farfetch and FW have worked with ReLondon and QSA over a two-year period to develop, trial and launch their new circular offerings, as part of a project called Circular Fashion Fast Forward.

Farfetch launched both its Secondlife and Donate models during the period and said it has seen “significant year on year growth in purchases of pre-owned items”. The company is actively seeking to include even more product categories in its re-commerce model and has already rolled it out to more of its global markets.

For FW has embedded a repair service, embracing circular business models. It is helping to strengthen customer loyalty. It has also reduced their costs, as they have not had to make new products to replace warranty claims.

'Repair' rather than 'replace' can yield rewards says new report

What:  A “Prime” like program to attract more customers

Why it is important: paid memberships are usual for retailers who are able to propose additional perks (such as free delivery) but less for brands

Urban Outfitter has decided to launch a paid membership program (cost: USD 48 or USD 98) in order to boost customer loyalty. It aims to drive more traffic instore by granting to members specific perks: free shipping & returns, 15% discount, USD 10 coupon every month and a discounted promotion to clothing rental Nuuly.

According to McKinsey, customers who pay to access a membership program are 60% more likely to spend, to be compared with 30% in the case of a free loyalty program. Also, it has consequences on the average basket size and ticket.

Urban Outfitters tests paid membership program to boost loyalty 

What: the department store uses them to stay relevant and attract younger customers

Why is it important: profit being a long haul for DTC only selling online, department stores constitute an interesting alternative

Department stores' place of relevancy has changed over the years. Before, for a brand to become known, it needed to be placed within a department store because that's where the consumer was shopping. Now that younger consumers are shopping online Nordstrom, in order to survive, cannot just cater to their parents. They have to cater to these young people.

Since 2012, when making a USD16.4 million minority investment into DTC menswear brand Bonobos, Nordstrom has inked partnerships with some of the hottest digitally native brands in the sector from Away and Thinx, to Kim Kardashian West's shapewear brand Skims, Everlane, Reformation or Goop. Some partnerships were even more interesting, by including exclusive products (Warby Parker Glossier and Boy Smells) or by complementing Nordstrom’s offer (Casper).

Nordstrom also has an extensive partnership with Rent the Runway. Select stores in Los Angeles in 2019 began serving as order pickup and drop-off locations Now, after the rental company announced in August that it's permanently closing its retail stores, the Nordstrom drop-off areas serve as one of the few physical touchpoints the brand has with customers.

It's become clearer that Nordstrom's relationship with digitally native brands is more and more important to its overall strategy aiming to attract younger shoppers into its physical stores. It will also allow Nordstrom to potentially win them over by doing what it knows best: customer service.

On the DTC side, as more digitally native retailers make their public debut on the stock market, and reveal their financial information, it's become clear how difficult it is to sell goods exclusively online and make a profit. The marketing costs associated with acquiring customers online has pushed DTC brands offline through temporary pop-ups, permanent locations or partnerships with traditional retailers.

'Relevance is key' Why Nordstrom has gone all-in on DTC brands 

What: the announcement is part of a 3-year turnaround plan.

Why is it important: the retailer is aiming to increase private labels business share, responding to investors criticism.

The home goods retailer said six of the eight brands will launch in the first six months of its fiscal year, according to a company press release.

The announcement comes after the company in October revealed plans to launch at least 10 private labels over the next 18 months as part of a broader three-year turnaround plan.

Investors in the past have criticized Bed Bath & Beyond's lack of private labels. In fact, private labels account for just 10% of the retailer's sales. Comparatively, owned brands make up one-third of Target's sales, according to Telsey Advisory Group.

Among Target's store brands, 10 have generated USD 1 billion in sales, with the most recent being its All in Motion activewear line, which reached the milestone within its first year of launching.

With the planned brand launches, however, Bed Bath and Beyond expects to grow its sales penetration from private labels to 30% within the first three years.

The retailer also announced that it will launch thousands of new products exclusive to Bed Bath & Beyond while simultaneously cutting thousands of underperforming brands, labels and products. All of this is part of a broader three-year turnaround plan, which includes resetting its merchandise assortment, remodeling around 450 stores and improving its digital experience.

Bed Bath & Beyond's 3-year transformation plan

Bed Bath and Beyond plots 8 private labels launches this year

What: the retailer is doubling down on its online business

Why is it important: Kohl's bets on activewear for growth

Americans have loaded their online shopping carts with not just essentials but also leisure goods. As consumers bought everything from leggings and sweatshirts to kitchen electrics, the company’s digital sales surged to account for 42% of net sales in the fourth quarter.

Overall net sales declined 10% to USD 5.88 billion in the quarter, but was above expectations of USD 5.86 billion.

Kohl’s is betting on the rise in demand for activewears such as running shoes and workout clothes. The company is planning to increase the space for such products in its outlets by adding brands such as Eddie Bauer and expanding those offered from HanesBrands Inc’s Champion.

Kohl's bets on activewear for growth

Kohl's Q4 financial report

Related item:

• Kohl's turns to Eddie Bauer as outdoor sales surge

What: Ikea opens 2 shop-in-shops in French supermarket Cora

Why is it important: while 32 out of its 34 stores are closed, Ikea adapts locally

The Swedish giant opened two 100 sqm corners in Cora supermarkets located near Ikea stores.

The brand is trying to adapt to covid-19 restrictions. Solutions are found at a very local level by opening "ephemeral points of service". Ikea employees will offer “consulting, sales and inspiration services” the Swedish giant said in a statement. The local initiative aims to "ensure the continuity of the business" while stores are closed.

Ikea opens inside French supermarkets

What: This is the latest effort by M&S to attract new shoppers

Why is it important: M&S tries to keep up with Asos and Boohoo

Marks & Spencer Group Plc will start selling third-party fashion brands online as part of a wider initiative to revive its long-struggling clothing division.

The company will launch the first wave of guest brands, including Hobbs, Jack & Jones, Joules, Sosandar and Triumph, on its website over the next three months. They will be sold alongside M&S’s existing in-house brands.

This is the latest effort by M&S to attract younger shoppers and keep up with online competitors like Asos and Boohoo. It marks a significant change for the retailer, which since its founding in the 19th century has mainly sold its own brands.

The brands will initially launch on M&S.com, with future opportunities in UK stores. Partnerships will vary from wholesale agreements to exclusive collaborations. M&S may also look to buy more labels, following its January purchase of upmarket fashion brand Jaeger.

Marks & Spencer to Sell Rival Fashion Brands Online in Revamp 

What: When stores reopen on 12 April, almost 1 500 jobs are at risk.

Why is it important: The retailer is expecting of revenues to be generated online, even when shops are trading normally again.

UK department store chain John Lewis will not reopen eight of its 42 stores after the current lockdown ends in April. Department stores in Aberdeen, Sheffield, Peterborough and York will remain closed, plus four smaller “At Home” stores in Tunbridge Wells, Ashford, Basingstoke and Chester.

A total of 1,465 roles are threatened by the closures. A similar number of jobs were already lost last year when eight other stores did not reopen after the first lockdown. The latest closures will reduce the estate to 34 department stores.

“Given the significant shift to online shopping in recent years, we do not think the performance of these eight stores can be substantially improved,” the group said in a statement.

John Lewis will not reopen eight stores when lockdown ends

What: the fashion group is tapping into changing consumer behaviour

Why is it important: the “Lauren Look” will be the first rental model to be introduced by a luxury brand

According to the New York-based company, the service aims to be a new channel through which customers can experience and engage with Ralph Lauren, before ultimately shopping the brand.

Starting at USD 125 a month, subscribers are able to access a constantly changing range of Ralph Lauren apparel. Members curate their own closet before receiving their first shipment. Once they have finished with the clothes, they can choose to either send them back and have them replaced by other pieces, or purchase them at exclusive members’ prices.

As well as adapting to the more fluid relationship between consumers and their wardrobes, The Lauren Look will also serve as an opportunity for the company to generate direct customer feedback and gain a better understanding of the market. Furthermore, the initiative responds to growing consumer concerns about overconsumption.

Ralph Lauren also specified that The Lauren Look clothes that reach their rental cap will be donated to Delivering Good, a non-profit that provides people impacted by poverty with new and nearly new merchandise.

Subscriptions to The Lauren Look are now available through a dedicated platform, exclusively in North America.

Ralph Lauren launches first rental subscription service

What: created by a former sales associate, Seer simplifies the now-critical process of selling to virtual VIP clients

Why is it important: luxury fashion clienteling has become an increasingly competitive advantage for the industry, particularly hard-hit department stores

Seer, a web-based software company for luxury sales teams that consolidates seller tools spread across places like WhatsApp, Mailchimp and Photoshop, is launching this week. Seer will graduate from a three-month stint and a USD 125 000 investment at Silicon Valley incubator Y Combinator, whose previous graduates include Airbnb and payment provider Stripe. Seer has also received additional funding from Foundation Capital’s Jonathan Ehrlich.

Luxury fashion clienteling has become an increasingly necessary skill and competitive advantage for the industry, particularly hard-hit department stores. New selling tools and technology are gaining investor interest. Bambuser, used by Farfetch and Moda Operandi, raised USD 45 million in September; Hero raised USD 10 million; and Livescale, used by Roberto Cavalli and L’Oréal, just announced a funding round.

In a global push toward video shopping, Seer has added the ability for associates to schedule virtual appointments and load a virtual “clothing rack” that tracks which items a client has liked. Seer is launching with a number of luxury brand clients, including department stores, individual brands, boutiques and multi-brand e-commerce platforms, including The Webster and Saks.

“It’s a very authentic product from someone that understands retail and sales — not someone from the tech world who has no clue what it is day-to-day,” says Cecile Levinger, retail director at The Webster. A lot of tools are too focused on the tech part, but stylists don't care about the tech — they care about their clients.”

In addition to the ability for associates to create branded, shoppable, magazine-style layouts that can be shared via email, PDF or a texted link, Seer syncs image libraries from a range of sources including Google Drive, Dropbox, iCloud and Instagram and enables associates to manage communications through multiple channels such as WhatsApp or email. It also hosts shoppable video appointments and allows associates to see data on customer engagement. Seer makes money by charging a monthly subscription fee with an annual commitment and does not take commissions on sales.

Seer, the luxury clienteling software

What: the Japanese retailer hopes for a USD 55 million turnover by 2026

Why is it important: it’s an attempt to shift from traditional inventory-heavy business model

Japanese department store operator J. Front Retailing will launch a new subscription-based rental fashion service as it tries to shift from its traditional inventory-heavy business model, Nikkei has learned.

The new service, the first by a major Japanese retailer, will allow customers to rent up to three high-end women’s clothing items from foreign and domestic labels for a monthly fee of JPY 11 000 (USD 103).

J. Front Retailing hopes to have 30 000 customers and sales of JPY 5.5 billion (USD 50 million) to JPY 6 billion (USD 55 million) within five years. The subscription service will be handled by J. Front Retailing’s subsidiary, Daimaru Matsuzakaya Department Stores.

It will initially offer about 50 domestic and foreign brands, including popular labels like Marni of Italy and France’s See By Chloe. The service will focus on upscale brands that are popular in department stores.

Japanese Retailer J. Front To Start Fashion Subscription Service

What: Stockmann of Finland has announced results for the year 2020. Consolidated revenue  was EUR 790.7 m, down 16.9% on the previous year. The result for the period was EUR – 291.6 m compared to EUR – 45.6 m a year earlier. According to management, the fourth quarter was profitable. Personnel numbers have shrunk from 7002 to 5991 over the year.

Why it is important: The group’s restructuring programme was recently approved by the Helsinki District Court. The restructuring programme is based on the continuation of Stockmann’s department store operations, the sale and lease-back of the department store properties located in Helsinki, Tallinn and Riga and the continuation of Lindex’s business operations as a fixed part of the Stockmann Group. the company will sell the real estate assets it owns in Helsinki city centre, Tallinn and Riga. The received realisation result of the company’s real estate assets will primarily be used to pay secured debts.

The company has negotiated new market-based lease agreements containing smaller premises than in the previous lease agreements for all its department stores and the office space in Pitäjänmäki, Helsinki.

Stockmann Group’s Financial Statements Bulletin 2020

What: consumers are moving away from fast fashion athleisure and looking to invest in longer-lasting performance wear

Why is it important: insights from Vogue Business ahead of IADS Sport & Lifestyle merchandising meeting

Online fitness communities have soared over the last year in response to the closure of gyms and restrictions on spectators at sports events.

As the power of digital communities and the growing interest in health are long-term trends, they have both converged and accelerated, creating networks of consumers ready to invest in fitness apps, equipment and clothes. Premium and mass-market athleticwear brands are tapping into these fitness communities to reach hyper-engaged audiences, while luxury brands are exploring the potential of technical athletic wear. Fitness networks nurture a sense of belonging and, as networks strengthen, participants are naturally ready to step up their spending on higher performance quality products.

More than 74 million athletes worldwide use Strava, an app that enables users to track metrics for outdoor activities. But it's the social aspect that’s attracting 2 million newcomers each month, involving the creation of clubs or challenges. Lululemon has one of the biggest clubs on Strava, with over 100 000 members and some of its challenges saw mass engagement with more than 300 000 people tracking their workouts together. And athleisure is one of few resilient categories during the pandemic.

As the pandemic continues, trust in institutions, media and government have declined. Instead, consumers are seeking out communities and networks online. The result: a long-term and hyper-engaged network of consumers in the fitness space.

Nike launched its run club, NRC, in 2010. It logged 100 million runs over the last 12 months, continuing to see strong year-over-year gains in weekly active users, new users and retained users in Q2, Nike says. The app links seamlessly to in-app purchases and offers exclusive drops and discounts.

As Nike is considered a luxury brand by younger consumers, the On CloudX shoe was ranked as #9 in the Lyst Q4 2020 index of the hottest items for men, the first time a technical running shoe has featured in the ranking. The top ten is typically dominated by luxury and streetwear brands, but Lyst is seeing a shift as consumers invest in technical sportswear.

Luxury brands have tended to steer clear of technical athletic wear, but there are signs that they are ready to push more into this product category. Designers already launched collaborations with sportswear brands in the past few years: Victoria Beckham, Maison Margiela or Vêtements with Reebok, Dior with Nike and Prada with Adidas.

It remains to be seen whether luxury brands will explore besides sneakers. Peloton, the exercise equipment and media brand that went public in 2019 is already serving those consumers. Peloton is a luxury brand, it’s vertically integrated and it has a high price premium.

As online fitness booms, is technical sportswear the new luxury

What: the company announces the opening of 60 freestanding stores and 200 locations inside Kohl’s stores

Why is it important: it’s Sephora’s largest expansion in the U.S.

Following a year in which e-commerce dominated the retail landscape, this move signals Sephora’s confidence in the future of the brick-and-mortar shopping experience. With a focus on growing its presence in off-mall locations, the retailer also aims to make Sephora more accessible to beauty shoppers across the country.

With a light at the end of the tunnel for retailers impacted by the pandemic, Sephora is once again announcing ambitious expansion plans. The retailer last year had planned 100 store openings, though it's unclear how many of those occurred, given COVID-19 became a serious concern in North America about a month later.

The company will also begin rolling out a buy online, pick up in-store service to all of its stores this week, following a successful reserve online, pick up in-store program. Sephora also highlighted other features aimed at online shoppers, including its sales through Instagram Checkout, its partnership with Instacart and its offering of instalment payments through Klarna.

Sephora plans 260-store expansion through Kohl's, owned stores

Sephora To Expand Brick & Mortar Footprint With 260+ New Stores In 2021 Across The U.S. 

What: The retailer ends with the repaying debt it took on at the height of the pandemic last year.

Why is it important: Nordstrom’s debt sale is an important step on its long road back to full blue-chip status in the debt markets.

The retailer sold USD 675 million of unsecured bonds this week to finish repaying the debt it took on at the panicked height of the pandemic last year. The buyback frees up prized real estate including its Seattle flagship that served as collateral. It buys the company more time to repay its debt and helps improve its challenged liquidity position.

Refinancing debt or loosening credit terms had become a particular focus of members of the Nordstrom family after deteriorating ratings last year. A cut to junk by just one of the three main rating firms can trigger a dramatic change of fate for companies. Nordstrom lost its investment-grade rating from S&P Global Ratings in September and earlier negative outlooks from Moody’s Investors Service. This week’s deal alone wasn’t enough to land Nordstrom an S&P investment-grade rank or a Moody’s outlook adjustment, but S&P revised its outlook on the company to stable from negative.

In all, the deal will save Nordstrom around USD 29 million annually in interest costs, which over the life of the bonds more than covers the USD 80 million penalty Nordstrom faces to repay the old notes early.

Nordstrom Starts Repairing Its Tarnished Status With Debt Deal

What: In order to provide more content to its customers, Kayak opens its own-brand resort in Miami

Why it is important: collaborations with websites allowing them to provide physical experiences to their customers could be a way for department stores to rethink the usage made of some of their square metres, and generate new revenues.

GDR UK, a retail intelligence agency based in London, spotted the online travel booking website Kayak which plans to open its first own-brand resort in Miami, in collaboration with boutique hotel brand Life House.

A full contactless experience is guaranteed from check-in to voice-controlled room amenities. This new venture will also allow Kayak to collect data on its customers and their usages.

travel booking website opens first bricks and mortar resort