Retail Roundup – Ann Taylor Debuts Rented Fashion, Michael Kors’ Plans for Revival and more

0
1075

Ann Taylor Debuts Fashion Rentals

Cashing in on the subscription service boom, and not to be outdone by no-name startups, Ann Taylor has announced the debut of ia subscription rental service, which will allow customers to borrow up to three garments at a time for a monthly fee of $95. Customers will be allowed to purchase an item that they love and can’t bear to give back at a discounted rate. (Glossy)

Michael Kors Launches New, More Personalized App

According to fashion icon Michael Kors a large part of his company’s turnaround plan is making the customer feel like they are getting personalized service. That is why the brand has relaunched its app to help dress shoppers while also offering physical store renovations and staff trained to give personalized style tips, both in store and online. (Bloomberg)

Alibaba’s Revenue Jumps 61%

Even ahead of its huge Singles Day 11/11 sale, China’s online shoppers have helped to boost Alibaba’s profits by nearly double what they were the same period a year ago, adding up to a 61% rise in revenue. By comparison, the U.S. marketplace giant, Amazon, reported a 34% revenue increase in the same quarter. (The New York Times)

Sears announces more closures for 2018

Sears has announced another round of closures, 63 in total, for January 2018. The brand, which has already closed more than 350 stores in 2017, will be shuttering an additional 45 Kmart locations and 18 Sears stores. (USA Today)

LEAVE A REPLY

Please enter your comment!
Please enter your name here