Oct
 31
 2017



Ulrike

Hello,

Welcome back to The Spin! Today we check out how Canadian retail group Hudson’s Bay Company expects to unlock additional value from its real estate holdings. We also tell you which sports brand just moved from Walmart to Amazon, and what Jeff Bezos is up to in Hollywood. Enjoy the read and, as always, feel free to share! Best, Ulrike



retail

Unlocking more value. After selling the Lord & Taylor flagship store in New York, Canadian Hudson’s Bay Company is ready to sell another property. The group has enlisted CBRE and Brookfield Financial Real Estate to explore the divestiture of the Hudson’s Bay flagship store in Vancouver for an estimated price of $900 million. This and nine other locations are held by a real estate joint-venture between HBC and RioCan Real Estate Investment Trust, which is about to close a $200 million mortgage on the property.


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brands

Back to Britain. Luxembourg-based JAB Holding Company has sold its high-end outdoor brand Belstaff to British petrochemicals company Ineos for an undisclosed sum. The move brings the brand, which was founded in 1924, back to its place of origin. As reported, JAB is refocusing on restaurants, coffee and beauty products. In July, the company has already sold the luxury shoe brand Jimmy Choo to Michael Kors, and is now in the process of selling Bally.



From Walmart to Amazon. Following the Starter brand’s phase-out from Walmart, US brand management group Iconix has reissued the 1970s athletic collection as an exclusive sports label for Amazon. Featuring retro-style activewear, accessories and fashion apparel for men, women and kids at price points between $12 and $28, Starter is now available exclusively to Amazon Prime members.



Shot in the arm. Authentic Brand Group has received an unspecified strategic investment from private equity firm General Atlantic, enabling the company to finance possible acquisitions of brands with annual retail sales between $500 million and $1 billion. Additional investors in Authentic Brand Group include (paywall) Leonard Green & Partners and Lion Capital. ABG is interested in adding new categories like bridal, kids, food and entertainment as well as international expansion, particularly in China.





people

No rest for the founder. When Tadashi Yanai turns 70 in February 2019, he plans to give up the presidency of Uniqlo but will continue as Chairman to oversee the fate of the company he founded in Hiroshima in 1984. Lanai believes that young people should handle the actual management. Fast Retailing has already begun to look for a successor among its 40 executive officers, two of which are Yanai’s children.





markets

Gucci baby. Millennials are responsible for the meteoric growth of iconic Italian luxury brand Gucci. During the first three quarters of 2017, about 55 percent of the brand’s sales came from customers younger than 35 who love designer Alessandro Michele’s eclectic mix of colors, patterns and styles. That's a rate much higher than the millennials’ average share in luxury spending, currently measured at 32 percent. Gucci keeps up with this group's fickle taste by employing a “shadow committee” of millennial advisors.



From Delaware to Shandong. Koch Industries-owned chemical and fiber company Invista is selling its Apparel & Advanced Textiles (A&AT) business including the Lycra, CoolMax, Tactel and Thermolite brands to Shandong Ruyi Investment Holding, one of China’s largest textile companies. Terms of the deal were not disclosed. Following the sale, Invista is going to focus on the nylon value chain, including its global nylon polymer and fiber portfolio, and brands like Cordura, Stationmaster and Antron carpet fibers.





last

Jeffrey goes to Hollywood. US tech giant Amazon is expanding and relocating its Amazon Studios to legendary Culver City in Hollywood. The 28,000 m2 location at Culver Studios, where classics like Gone with the Wind and Citizen Kane have been shot, will serve as a hub for the production of movies and TV series.







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