Apparel Online Bangladesh Magazine May Issue 2019 | Page 74

RETAIL CURRENT TO ADVERTISE GOING TO A GOOD EVENT? Contact Rani Mahendru [phone] (512) [email protected] Send your industry gossip, photos and news to [email protected] Pineapple relocates its UK flagship store to a better prime location Pineapple, a renowned apparel brand, has relocated its UK flagship outlet within Covent Garden district at 8 Mercer Walk, which is a more prime location for the brand. The 700 square feet store, situated opposite the Pineapple Dance Studio, houses best clothing lines for girls and women, including majorly activewear and seasonal collections. Notably, Covent Garden has been the home to Pineapple Dance Studio as well as to its official clothing brand for many years. Expressing delight over the relocation, Debbie Moore, Owner and Chief Executive, Pineapple, said, “Our location means a great deal to me as it is embedded in the heritage of the Pineapple brand.” He said staying in this area was, therefore, a natural choice and what is notable is that Covent Garden, which is the centre of dance in London, has grown to be such a thriving retail destination in last 40 years. 2019, in fact, marks the 40th anniversary of the legendary studio. Pineapple has, importantly, revealed that it will continue its focus on investing and improving its digital engagement strategy. Later this year, the brand is expected to unveil a boutique format concept store, which includes new product display and in-store experience for visitors. Kering confirms sale of Volcom to Authentic Brands Group Kering Group has announced the completion of the sale of its US sports and lifestyle brand Volcom. The company said that the intellectual property of Volcom is purchased by Authentic Brands Group (ABG), effective from 1stApril 2019. nearly 100 stores across the globe. “For nearly three decades, the Volcom family has created one of the most iconic brands in the skate, surf and snow markets,” affirmed ABG Chairman and CEO Jamie Salter in a statement. One The move is seen as ABG’s focus towards expanding its fashion portfolio, adding to its collection of clothing properties. The recent acquisition will also set the company up to make moves in the skate, surf and snowboarding markets. Already the owners of Juicy Couture, Nautica, Aeropostale and several celebrity namesakes (including Elvis Presley, Marilyn Monroe and Shaquille O’Neal), ABG’s purchase affords the company access to Volcom’s massive retail presence, with 74 Apparel Online Bangladesh | MAY 2019 | www.apparelresources.com of ABG’s goals with the acquisition has been to promote Volcom’s digital campaigns and influencer partnerships, with a focus on expanding its millennial and Generation Z customer base. Todd Hymel, CEO, Volcom, and his management team will maintain a majority stake in Liberated Brands, the new operating company of Volcom, continuing to oversee operations in America, Japan, France and Australia alongside retail/wholesale business, product development and athlete marketing. With the acquisition of Volcom, ABG values its own portfolio’s value at over US $ 9.3 billion. The decision comes months after Kering announced its aim to spin off German sportswear brand Puma to its shareholders. Kering first acquired Volcom, a Californian skate and surf lifestyle brand, in 2011 for US $ 608 million. The brand has somehow kept a low profile in comparison to Kering’s luxury fashion houses, and in 2016, Volcom off-loaded its eyewear brand Electric.