Dec
 20
 2017



Ulrike

Hello,

Happy Wednesday and welcome back to The Spin! Today, there is a strong focus on People & Positions. From influencer Chiara Ferragni to digital specialist Jill Ramsey, who will move to Macy's from eBay. We also check out why Galeria Kaufhof has a problem with another trade credit insurer, and how Amazon intends to boost last-minute sales in late December. Enjoy the read and feel free to share! Have a great day, Ulrike



retail

Tighter terms. German Galeria Kaufhof, which is part of Canadian Hudson's Bay Company, has (in German) problems with a credit insurer again. Amsterdam-based Atradius has reduced (paywall, in German) its guarantee for Kaufhof's suppliers. According to sources, Galeria Kaufhof and/or HBC might have failed to report financial data to Atradius in due form. Four months ago, reinsurer Euler Hermes already reduced its guarantee to Kaufhof suppliers by up to 80 percent. So far, HBC has reportedly not responded to rival Signa's €3 billion offer for Galeria Kaufhof.


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Speedier expansion. French Galeries Lafayette has reshuffled (paywall) its management to speed up international expansion and acquisitions like the mail-order company La Redoute. Oliver Bron will be (in French) the sole Director of Operations for Galeries Lafayette and BHV, with Alexandre Liot taking over the direction of the Galeries Lafayette flagship on Paris' Boulevard Haussmann, which contributes half to the group's turnover. Agnès Vigneron, who held the position before, will oversee the integration of La Redoute, which just launched (in French) a new app.





tech

Attacking Alibaba. Shenzen-based technology giant Tencent Holdings Ltd, which currently generates most of its revenues through the publication of ebooks and video games, is leading a $863 million investment in the apparel retail platform Vipshop Holdings Ltd. Operating online services like WeChat and QQ Music, Tencent is thus upping its retail rivalry with Alibaba Group. Its partner in the Vipshop deal is longtime ally JD.com.



Digital discount. US online giant Amazon, which currently faces (in French) a $10 million fraud fine in France, is trying to rake in last-minute December sales with the revival of its "Digital Day". Scheduled for December 29th, the online-only one-day sale offers (press release) savings of up to 80 percent on more than 5,000 digital items including e-books, apps, movies and games.





people

From eBay to Macy's... To build out its digital competence, US department store group Macy's Inc has named Jill Ramsey Chief Product and Digital Officer, a newly created position. Effective January 8th, Ramsey will oversee both product and revenue for Macys.com and the Macy's app. Ramsey comes to Macy's from Ebay, where she held the position of Vice President of Soft Goods, North America. In the past, she has also worked from Walmart.com's Home & Apparel division.



...and from Bershka to Diesel. Italian jeans wear label Diesel has named Marco Agnolin CEO. Agnolin joins Diesel from Spanish young fashion label Bershka, which belongs to Zara's parent company Inditex. At Diesel he takes over from Alessandro Bogliolo, who took the CEO position at Tiffany & Co in July.



Movin' on up. Over at Inditex, Antonio Flórez de la Fuente will (in Spanish) take over as head of Bershka, which is currently the company's second largest brand. The retail professional spent most of his career at the Spanish fashion group, most recently as the head of its Italian subsidiary.



Blonde CEO. Influencer Chiara Ferragni, who rose to fame with her fashion blog turned agency, lifestyle magazine and webshop The Blonde Salad (TBS), has assumed the positions of President and CEO at the venue. The 30-year-old takes over from Riccardo Pozzoli who remains invested in TBS. In her new position, the expecting mother plans to improve the workflow and reduce (in Italian) expenses.







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